Source: ForexYard
The Pound appreciated against the 17 nation euro during Monday’s trading ahead of fresh concerns over Europe’s debt crisis. UK 10-Year Gilts climbed for the first time in 5 days as investors took to the sterling as a safety precaution as the French Presidential Elections and turmoil in the Dutch Government have made the British pound the more appealing “safe haven” currency.
The Sterling appreciated to its strongest level in 20 months against the Euro after French President Nicholas Sarkozy has fallen behind Socialist Francois Hollande going going into the final round of the French Presidential Elections.The Pound was given a further boost from news out of the Dutch Government where early elections are due to take place as a party from the minority ruling coalition withdrew.
The Sterling rose 0.5 percent versus the 17-nation currency and reached 0.8149, its strongest level since back in August 2010.
There are a number of financial reports expected for the next few days which could affect the movements of the currency markets. Tomorrow,Canada will release its Retail Sales Figures as well U.S New Home Sales while European Central Bank President Mario Draghi will deliver a speech on Wednesday. Other important news items on this week’s Agenda include GBP Gross Domestic Product,FOMC Statement,U.S Interest Rate Decision, a speech from Federal Reserve Chairman Ben Bernanke,New Zealand’s Interest Rate Decision as well as the Bank of New Zealand’s Rate Statement.
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