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EUR/GBP Falls As Pound Gains Following Scottish Referendum

EUR/GBP Falls As Pound Gains Following Scottish Referendum

Last week saw the EUR/GBP pairing fall as the pound strengthened. Last Wednesday morning the pair opened at 0.7991 and fell to a low of 0.7821. The pair has risen a bit and is currently trading around 0.7860.

The pound gained last week after the Scottish voted against independence in the referendum. However, data released this week showed that UK public sector borrowing increased from the same time last year by £700 million. However, the euro was hit when data showed that last month output in the euro zone sector grew at the slowest rate so far this year.

It is likely that the European Central Bank will ease monetary policy further in order to address the risks of a prolonged period of low inflation in the euro zone. Should this happen then it is likely that the EUR/GBP pairing will continue to fall.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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