The pound’s outperformance continued through until the end of the year’s first trading week, taking the price over €1.20 for the first time since September 17th 2010.
On the afternoon of Thursday 6th Caxton FX sent copy to the FT for Saturday publication. The feature discussed whether or not the euro would reach 1.20 in 2011; before close of play Friday the euro had already reached this level. The speed at which the rate rose (4.0% in 4 days!) indicates just how quickly the market is shifting at present. This high level of volatility highlights the importance of regular and accurate analysis - sign-up for daily analysis from Caxton FX.
The question now is, will the rise in the euro continue unabated, or will it reach a plateau? All comments welcome...
Duncan Higgins
Currency Market Analyst
Caxton FX
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