Analysis

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Sterling fell against the euro on Thursday as traders looked to close out short positions for month end.

On a day of very little consequence, sterling closed slightly up at 1.2002.

Sterling extended gains against the single currency after bullish UK retail sales data.

Sterling closed marginally down on the day against the single currency, having hit a high over 1.2010 at about mid-morning.

Sterling jumped almost 2 cents against the single currency on Friday after bullish GDP data from the UK revealed that the UK economy grew at its fastest rate for four years.

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Sterling fell against the single currency yesterday after a successful sale of T-bills in Hungary and positive corporate data increased investor risk appetite.

Sterling was marginally up yesterday after the MPC released the minutes from their last interest rate decision meeting.

Sterling rallied after hitting a 9 week low against the single currency, to close up 80 points.

Sterling fell to an 8 week low as the euro was broadly higher.

Sterling fell to its lowest level against the single currency in over a month on Friday, closing at 1.1830 as rising European money market rates and higher equities increased demand for the euro.

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The pound and euro again traded in a tight range yesterday, with the pound eventually closing slightly lower following a successful Spanish bond issue.

Sterling turned higher against the euro again yesterday, climbing half a cent following some positive employment figures.

Having briefly pushed up over €1.20, sterling steadily had its gains eroded following solid demand for Greek debt, which brought the price back toward €1.19.

The pound climbed marginally higher against the euro yesterday, stemming its recent losses, but fell from its intra-day highs following comments from a leading rating agency.

The pound closed the week on the back foot against the euro with some stronger numbers from Germany providing the impetus for investors to cover short positions.

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The pound continued to fall against the euro yesterday, heading back below 1.20 as Trichet dismissed fears that the eurozone could be faced with a double-dip recession.

In another quiet trading session yesterday the pound ended its recent slide against the euro, edging back over 1.20 but remaining within range.

Sterling fell for the fifth straight day against the single currency with fears about the eurozone's debt crisis shifting onto the poor performance of the US economy.

In subdued trading yesterday, the pound edged lower against the euro following a weaker-than-expected reading of activity in the UK services industry.

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The pound continued its path lower against the euro on Friday, closing the week back below €1.21 as investors unwound positions betting the single currency would fall.

The pound continued to fall sharply against the single currency yesterday, sliding another cent as funding concerns in the eurozone eased.

The pound slipped back quite sharply against a stronger euro yesterday following news that eurozone banks borrowed less-than-expected from the ECB.

Sterling hit a fresh 19-month high against the euro yesterday, continuing its rally as investors grew cautious ahead of scheduled bank repayments to the ECB this week.

Sterling reached a 19-month high against the euro yesterday on speculation that eurozone debt problems would leave the region fiscally weaker than the UK.

The pound held near its 18-month high against the euro on Friday with sentiment toward the UK economy improving off the back of the Budget.

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The pound rallied up to its strongest point against the euro since November 2008 yesterday before slipping back at the end of the European session to close at 1.21

The pound hit a fresh 18-month high against the euro yesterday following a surprise vote from a member of the BoE's Monetary Policy Committee.

The pound broke back above €1.20 yesterday, gaining over a cent as George Osborne delivered a credible path to restoring public finances.

This pair was again essentially treading water yesterday with investors holding station ahead of Osborne's Budget due today at 12:30.

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Friday was another non-event between this pair with neither currency able to gain an advantage and investors waiting on the side-lines ahead of the Budget announcement.

The pound finished exactly where it started on Thursday with positive sales figures in the UK offset by strong demand for a Spanish bond issue.

After a quiet day in which the pair remained largely in range, the pound lost ground to the euro late on in the session to close back below 1.20.

Sterling lost ground to the single currency yesterday following UK data that showed a sharper-than-expected fall in the headline rate of inflation.

The pound rebounded from early lows yesterday, closing half a cent higher against the euro following the OBR's revised economic forecasts.

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Sterling tracked back from recent highs on Friday, losing over a cent against the euro following some weak UK productions figures.

Having yo-yoed either side of €1.21 yesterday, the pound eventually closed marginally higher against the euro, maintaining its upward trend.

The pound reversed the losses incurred following Fitch's comments, rallying straight back over 1.21 with the market concluding that the initial reaction was overdone.

After climbing for three consecutive days, the pound lost ground to the euro yesterday as investors reacted to a comment from one of the prominent rating agencies.

Sterling hit a fresh 18-month high versus the euro as worries over structural problems in the eurozone continue to plague the single currency.

The pound was sent higher against the euro on Friday, hitting a fresh 18-month high tracking the euro's slide against the US currency.

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The pound was comparatively range bound against the euro yesterday eventually closing marginally higher but holding below resistance at €1.20.

Sterling was given a strong boost yesterday morning following Prudential's announcement, but the rally was not sustained, leaving the pound marginally lower against the euro.

Tracking the progress of Prudential's bid for AIA, sterling gained over a cent and half against the euro, pushing through 1.20 for the first time in 18 months.

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Having rallied in the early session, the pound pared it gains against the euro as concerns eased that major central banks were looking to diversify their European assets.

Having rallied in the early session, the pound pared it gains against the euro as concerns eased that major central banks were looking to diversify their European assets.

Sterling rallied a cent and half against the euro yesterday, hitting a two-week high as investors sold the single currency on concerns about the economic health of the eurozone.

The pound inched higher against a broadly weaker euro yesterday, but fell back below €1.17 by the close of play tracking losses on the FTSE.

The pound leapt back from its recent declines against the euro, climbing one and half cents yesterday to close around 1.1650.

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In volatile trading, and after initially dropping to a one-month low, the pound eventually closed back at 1.15, level on the day against the euro.

The pound once again dropped over a cent against the euro yesterday, as heavy selling towards safe-haven currencies persists.

Sterling lost heavily against a broadly recovering euro yesterday following Germany's decision to ban selling of certain financial instruments.

Following a late rally, the pound closed comfortably back over 1.17 against the euro yesterday and is continuing to edge higher this morning.

The pound traded back below €1.17 yesterday on renewed fears about the depth of the fiscal crisis that the incoming government now faces.

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Sterling closed over a cent higher against the euro on Friday as continued fears about the eurozone sent the single currency falling.

Sterling continued to drop back against the euro yesterday after data revealed that the UK's trade balance widened in March.

The pound dipped yesterday, falling back half cent from its highs above 1.18 after Spain's announcement of tough spending cuts.

Sterling rose over two cents against the euro yesterday, buoyed by prospects that the Conservative Party will impress the need to fix Britain's finances.

Having traded down near €1.14 early on in the session, the pound steadily recovered back to €1.16 through the day as questions were raised about the €750bln aid package.

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The pound fell heavily on Friday as election results triggered concerns that the hung parliament will aggravate the government fiscal problems.

Having briefly rallied higher, the pound fell back against the euro yesterday, and is continuing to do so this morning as election uncertainty returns to the fore.

The pound rose steeply against the euro once again yesterday, climbing over a cent as the fiscal crisis continues to keep investors away from the eurozone.

Sterling made strong gains against the euro yesterday, springing above 1.16 as the problems in Greece continue to hamper demand.

Sterling rose against the euro yesterday as concerns remained that despite a €110 billion bailout package, Greece will not be able to cut its debt sufficiently to avoid default.

The pound erased Wednesday's losses against the euro yesterday, climbing 0.6% on a lack of tangible progress towards Greece.

The pound retreated from recent highs against the euro yesterday, briefly dipping below 1.15 as the election weighs.

The pound steadily eroded early losses against the euro as credit downgrades of Portugal and Greece knocked sentiment towards the single currency.

Sterling matched its highest level of the year against the euro yesterday as concerns over the funding of Greek debt gained momentum.

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The pound capped its recent rally against the euro on Friday after weaker-than-expected economic growth, though sterling is trading higher again this morning.

The pound continued its steady climb against the euro yesterday, gaining another half cent as the single currency came under renewed selling pressure.

The pound maintained its upward run yesterday, pushing past 1.15 against the euro following some encouraging employment figures.

21.04.10 The morning report

Sterling posted gains of 0.5% against the euro yesterday as the UK's rate of inflation rose above expectations, overshadowing election worries.

Having opened on the back foot, the pound retraced its losses through the afternoon to close only marginally lower against the euro.

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The pound lost ground to the euro on Friday as fears over Greece were offset by the shift in the UK political environment following the electoral debate.

The pound moved nearly a cent higher against the euro yesterday after an opinion poll showed that the Conservatives could win a majority, though this has reversed this morning.

The pound turned higher against the euro yesterday, gaining 0.25% as sentiment toward the UK economy firmed.

Having climbed against the euro in early trade, sterling steadily erased those gains through the afternoon to close almost level on the day, just a fraction below 1.13.

Sterling struggled against the euro yesterday, losing 0.7% after eurozone finance ministers agreed on a standby rescue package to help debt-stricken Greece.

Having risen to a near seven week high in early trading, the pound eventually closed lower against the euro on Friday, ending its nine-day winning streak.

The pound maintained its upward course against the euro yesterday, posting slight gains as pressure mounts on the ailing Greek economy.

Having slipped back below 1.1350 in early trading, the pound firmed up in the afternoon session to close the day at a two week high against the euro.

The pound continued to climb against the euro yesterday as reports suggested that Greece was looking to renegotiate part of the EU's recent bailout agreement.

The pound opened the week on a positive note, gaining 0.7% against the euro yesterday as polls showed the Conservatives widening their lead.

Trading was choppy between this pair yesterday as holiday-thinned volumes exaggerated movements, with the price eventually closing relatively unchanged on the day.

The pound reached a one-month high against the euro yesterday after some improved data from the UK economy heightened demand for sterling.

There was little movement between this pair in trading yesterday, with sterling falling back from intra-day highs to close just fractionally on top.

Sterling was lower against the euro on Friday after the EU's accord to support Greece against debt default boosted demand for the single currency.

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After enjoying a strong boost in the morning, sterling steadily had its gains eroded through the afternoon to close marginally lower against the euro.

The pound gained for the third consecutive day against the euro yesterday, though upward movement was capped following the Budget Report.

24.03.10 The morning report

Having dipped in early trading following lower inflation figures, sterling bounced back against the euro to close the day marginally higher.

The pound rallied back over 1.11 in trading yesterday as negative sentiment focused on eurozone debt troubles, sending the single currency lower.

Sterling fell back sharply on Friday losing over a cent to the single currency after a UK policy maker commented on the continued risks to the British economy.

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The pound enjoyed another positive run against the euro yesterday, climbing half a cent to briefly trade above 1.12 following encouraging UK borrowing figures.

The pound continued to climb higher against the single currency yesterday, gaining 0.7% and reaching a two-week high in the wake of some encouraging employment figures.

Opinion polls were once again cause for movement in sterling yesterday, though this time supporting a rise of 0.6% against the euro.

Ongoing political concerns and fears over the UK's credit rating put pressure back on sterling yesterday, which fell back 0.3% against the euro.

The pound was up against the euro from one-week lows earlier in the week on Friday, reacting to strong US market data and a poll that shows the Conservatives may win a majority in parliament.

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The pound managed to claw back some of Wednesday's sharp losses, gaining 0.4% following data from the Bank of England.

The pound slumped to a one week low against the single currency yesterday after unexpectedly weak production figures renewed fears of negative economic growth.

The pound found itself under pressure once again yesterday as a disappointing trade balance highlighted the fragility of the economy.

On a day light on data, the pound dropped over half a cent, or 0.55% against the single currency yesterday as fears over Greece eased.

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With little data out in either Europe or the UK on Friday, the pair held steady during the early session with the pound gaining in the afternoon as investors booked profits.

05.03.10 The morning report

Sterling eased higher against the single currency yesterday as the ECB President reinforced the view of an uneven and fragile recovery in the eurozone.

04.03.10 The morning report

The pound ended its downward spiral against the euro yesterday, edging higher following some upbeat figures from the UK services sector.

03.03.10 The morning report

The pound depreciated against the euro for the fifth consecutive day yesterday, though its rate of decline did slow following Monday's sharp selloff.

02.03.10 The morning report

Sterling briefly dropped to a six month low of 1.0964 against the euro in trading yesterday as yet more evidence of a hung parliament came to light.

01.03.10 The morning report

The pound lost a further 0.8% against the euro on Friday, sliding sharply as an upward revision to fourth quarter GDP failed to improve sentiment.

01.03.10 Weekly market analysis report

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26.02.10 The morning report

The pound slid sharply in trading yesterday, falling to a five week low against the euro in its steepest decline since January 4th.

25.02.10 The morning report

Sterling reversed gains posted against the euro on Tuesday, falling back half a cent yesterday after BoE policymakers left the door open to further quantitative easing.

24.02.10 The morning report

Having dipped sharply against the euro in the wake of King's testimony, the pound recovered steadily through the afternoon to close the day half a cent higher.

23.02.10 The morning report

The pound stemmed the heavy losses incurred on Friday posting marginal gains against the euro with market sentiment towards Greece and its public finances remaining fragile.

23.02.10 The morning report

The pound fell at its steepest rate against the euro in six weeks losing over a cent following yet further disappointing data from the UK economy.

22.02.10 The morning report

The pound fell at its steepest rate against the euro in six weeks losing over a cent following yet further disappointing data from the UK economy.

22.02.10 Weekly market analysis report

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19.02.10 The morning report

Following some disappointing public borrowing figures for January, the pound reversed Wednesday's gains against the euro, falling 0.36% to close at 1.1475.

The pound recouped Tuesday's losses against the euro, climbing back over 1.15 following the release of the MPC minutes, which revealed a unanimous decision to pause QE.

The single currency was broadly stronger yesterday, gaining half a cent on the pound as concerns over Greece cooled and investors covered short positions.

The pound capped its recent gains, holding level on the day against the struggling euro with market players awaiting key data out this week.

The pound gained a further half cent on the single currency on Friday as weak sentiment and poor GDP figures weighed heavily on the euro.

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12.02.10 The morning report

The pound reversed its downward spiral yesterday, posting gains of over a cent against the euro as the EU summit failed to spell out details for a Greek bailout.

The pound dropped a further 0.35% against the euro yesterday, after the BoE released a less optimistic inflation forecast than some had anticipated.

The pound briefly dropped to a three-week low against the single currency yesterday as talks began on a bailout plan for Greece to restore confidence in the eurozone.

The pound continued to lose ground to the single currency yesterday as concerns over the upcoming UK election weighed heavily.

In volatile markets on Friday, the pound lost ground to the euro in later trade, slipping back 0.35% after the FTSE 100 closed at a three-month low.

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Sterling resumed its upward trend against the euro yesterday after the Bank of England announced a pause to its quantitative easing programme.

After dropping sharply in the morning session, the pound recovered its losses to close the day on level terms with euro.

03.02.10 The morning report

The pound maintained its downward trend against the euro yesterday, though movements were slight ahead of central bank announcements later this week.

02.02.10 The morning report

The pound continued to move further away from its highs yesterday, falling 0.6% against the euro with renewed political concerns putting downward pressure on the UK currency.

01.02.10 The morning report

Despite early morning gains on Friday, the pound lost steam in the afternoon falling to a close of 1.1523 on reassurances that Greece will not be bailed out.

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29.01.10 The morning report

Having reached a fresh 5-month high of 1.1623 against the single currency yesterday, the pound slipped back sharply in the afternoon to close only marginally higher on the day.

28.01.10 The morning report

The pound resumed its upward trend against the euro yesterday, climbing a further half cent to close back above 1.15.

In early trading yesterday the pound fell sharply following weaker-than-expected UK growth figures, but through the afternoon session it recouped these losses.

26.01.10 The morning report

The pound steadily gained ground on the euro yesterday, eventually closing 0.7% higher on the day as the markets priced in a positive growth figure for the UK economy.

The pound lost a further cent to the euro on Friday, coming under pressure after weak sales figures raised doubts over the UK economic recovery.

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Sterling put an end to its seven day climb against the euro, slipping back half a cent following renewed concerns over the state of Britain's own fiscal health

21.01.10 The morning report

The pound added another cent to its week long gains against the euro yesterday, reaching a five-month high in the wake of positive UK unemployment figures.

The pound continued its strong run against the euro yesterday, gaining 0.75% in the wake of positive UK inflation figures and a Kraft Foods takeover bid for Cadbury.

Sterling's strong run against the euro showed no sign of slowing yesterday, gaining a further half cent in the wake of positive UK data and persistent negative sentiment toward the euro.

Comments from the European Central Bank launched a sell-off in the euro yesterday, which enabled the pound to continue climbing higher, closing the day up 0.5%.

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Comments from the European Central Bank launched a sell-off in the euro yesterday, which enabled the pound to continue climbing higher, closing the day up 0.5%.

The pound advanced by a further 0.6% against the single currency yesterday, buoyed by positive data and an encouraging statement from a BoE policymaker.

Sterling made up nearly half a cent against the euro yesterday, buoyed after data showed that the UK's trade deficit narrowed more than forecast, and a survey showing a strong rise in UK retail sales

On a day short of economic data, the pound and euro traded within a tight range with the single currency closing the day marginally higher.

Having rallied in the morning session to briefly touch 1.12, the pound slid against the euro in the afternoon with the price closing the week just over 1.11.

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The pound reversed its downward trend against the euro yesterday, posting hesitant gains in the wake of disappointing data from the eurozone

Sterling remained under pressure yesterday, losing further ground to the euro following an attempted coup on the Labour Party leader Gordon Brown.

The pound fell for a third straight day against the euro yesterday as investors bet the Bank of England may remain downbeat about the UK economic recovery.

Despite some encouraging data from the UK economy, the pound slid over a cent against the euro yesterday with confidence toward the UK currency remaining bearish.

The pound continued to rally on the final day of 2009, gaining 0.7% against the euro to close up near a three month high.

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Having struggled in early trade, slipping to a two-week low against the euro, the pound rallied strongly in the later session to close over 1.12, up 1.2% on the day.

Sterling gave back gains made earlier in the week, falling half a cent to close back below 1.1100 against the euro yesterday.

The pound pushed slightly higher from where it finished for Christmas against the single currency yesterday, with the Bank Holiday keeping trade light.

Sterling continued its downward slide against the euro yesterday, falling 0.65 cents (0.58%), as investors closed out positions before the holidays.

Sterling continued its two-day slide against the euro yesterday, after data released in the UK confirmed the country's economy contracted in the third-quarter.

The pound reversed its upward trend against the euro yesterday, slipping back 0.3% in thin trading, but holding above the 1.1200 level.

This pair traded in a tight range on Friday, with trading volumes relatively low ahead of the holiday season, though the pound did edge higher to close up at 1.1270.

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Despite some disappointing UK sales figures, the pound managed to climb a further 0.2% against a broadly weaker euro yesterday.

The pound advanced for the fifth consecutive day against the euro yesterday in the wake of upbeat data from the UK labour market.

Sterling reached its highest point in nearly a month against a broadly weaker single currency yesterday, to close the day back near 1.12.

Having fallen sharply in early trading, the pound steadily recovered its losses as sentiment improved to close the day fractionally higher.

The pound reached a two-week high against the single currency on Friday as sentiment toward sterling improved, closing the day 0.7% higher.

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11.12.09 The morning report

10.12.09 The morning report

After briefly spiking to an intra-week high, the pound slid back against the single currency yesterday as investors digested Chancellor Alistair Darling's pre-Budget Report.

Having slid sharply in early trading, the pound recovered ground against the single currency to close the day 0.2% higher at 1.1076.

The pound remained range-bound in choppy trading yesterday, to finish the day marginally down against the euro at 1.1057.

Sterling rose exactly a cent against the euro on Friday, hitting a ten-day high of 1.1120, before closing slightly down at 1.1085.

07.12.09 Weekly market analysis report

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04.12.09 The morning report

Sterling fell by 0.6% against the single currency yesterday after a survey showed Britain's services sector grew more slowly than expected in November.

03.12.09 The morning report

The pound continued to make up ground against the euro yesterday, finding support from some positive data and encouraging words from a BoE policymaker.

Sterling made up over half a cent on the single currency yesterday, erasing losses incurred at the beginning of the week, to close marginally above 1.10.

01.12.09 The morning report

The pound extended its one-month low against the euro yesterday, dipping as low as 1.0925 as demand for the UK currency remained weak.

30.11.09 The morning report

Sterling was unable to hold onto early gains, eventually slipping back half a cent to close the down at 1.1035 near a one-month low.

30.11.09 Weekly market analysis report

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26.11.09 The morning report

Sterling was unable to hold onto early gains, eventually slipping back half a cent to close the down at 1.1035 near a one-month low.

25.11.09 The morning report

Having touched on twelve-day low against the euro in early trading, the pound recovered most of its losses to close the day just 0.1% lower at 1.1083.

24.11.09 The morning report

The pound closed down for the fourth consecutive day against the single currency yesterday, though trading remained range bound with the price just nudging below 1.11.

23.11.09 The morning report

The pound fell to a one-week low against the euro on Friday as it slid further in the wake of data on Thursday showing UK public finances deteriorated almost twice as fast as expected last month.

23.11.09 Weekly market analysis report

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20.11.09 The morning report

Sterling continued to lose ground to the euro yesterday as UK borrowing data underlined Britain's deteriorating finances, while a sell-off in high-risk currencies also kept the pound under pressure

19.11.09 The morning report

The pound depreciated for the first time in five days against the euro, losing 1.0% from its intra-day high at 1.1311 following the release of the minutes from the latest BoE policy meeting.

The pound continued to climb against the single currency yesterday, pushing its two-month high up to 1.1319 in the wake of positive UK inflation data.

The pound climbed for the third consecutive day against the single currency, reaching up to a two month high of 1.1270 following the positive words of leading policy makers.

The pound rallied strongly against a broadly weaker euro yesterday, recouping losses incurred on Tuesday to close the day back up at 1.1166.

To view our weekly market snapshot

The pound rallied strongly against a broadly weaker euro yesterday, recouping losses incurred on Tuesday to close the day back up at 1.1166.

The pound suffered in trading yesterday, losing over a cent (1.0%) to the euro after the Bank of England's November Quarterly Inflation Report struck a more dovish tone than expected.

Sterling came under heavy selling pressure yesterday after the UK's credit rating came under fire, but the pound recovered to finish just marginally down against the euro.

The pound reached a near two-month high in early trading yesterday, but the euro eroded losses following positive data, with the pair closing marginally down at 1.1171.

During a day light on data, sterling rose against the single currency on Friday as investors continued to digest the previous day's economic announcements.

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Sterling experienced a day of volatile trading against the euro yesterday, as the Bank of England and European Central Bank's interest rate decisions sent the pound first up then down.

Having posted solid gains throughout the morning and afternoon sessions, briefly reaching over 1.12, the pound slipped back, enabling the euro to close marginally up on the day.

Sterling posted solid gains against a broadly weaker single currency yesterday, rallying to a close of 1.1155 as the EU commission voiced concern over the eurozone economy.

Sterling slipped yesterday, snapping a 5-day consecutive climb against the euro as traders braced for the possibility that the BoE may announce an extension to quantitative easing.

The pound edged higher on Friday, achieving its biggest weekly advance against the euro since January, as signs pointed to the UK economic recovery talking hold.

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Having traded in the red for most of the day, the pound rebounded in the afternoon to close the day marginally up at 1.0859.

The pound continued to advance against a broadly weaker single currency yesterday, hitting a six-week high of 1.1167 as investors trimmed their euro holdings.

After an unsteady early session, the pound rebounded strongly from Friday's sell off, to close 1.1% up on the euro in trading yesterday.

In an uncertain day for the UK economy, the pound lost as much as 2.0% to the euro on Friday, sharply reversing its recent rally to close down at 1.0862.

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Weak economic data kept the pound on the back foot in trading yesterday, but expectations of a positive GDP figure prevented the euro from posting significant gains.

Sterling reached a one-month high against the single currency yesterday, rallying strongly as the BoE’s latest policy meeting made no mention of further QE.

Sterling dipped slightly against the single currency yesterday, relinquishing gains in the afternoon as US equities slipped back, closing the day down just 0.1% at 1.0958.

Sterling’s rally against the euro persisted on Friday, albeit with slightly less momentum, with the price closing the week at 1.0971, up 0.8% on the day.

Sterling’s rally against the euro persisted on Friday, albeit with slightly less momentum, with the price closing the week at 1.0971, up 0.8% on the day.

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Sterling strengthened as much as 2.2% to a ten-day high of 1.0936 against the euro yesterday, its biggest intra-day gain since Jan 30th.

The pound maintained its downward trend yesterday, losing a further 0.6% as a British report cast doubts over UK recovery prospects.

Sterling shed further ground against the euro on Friday, losing over a cent to close the day down at 1.0753.

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Sterling was unable to build on Wednesday’s gains, as trading between the pair held steady following a relatively muted market response from the two interest rate statements.

Having traded in the red for most of the day, the pound rebounded in the afternoon to close the day marginally up at 1.0859.

Having traded in the red for most of the day, the pound rebounded in the afternoon to close the day marginally up at 1.0859.

Having traded in the red for most of the day, the pound rebounded in the afternoon to close the day marginally up at 1.0859.

Sterling gave back recent gains against the euro on Friday, losing 0.3% as risk aversion weighed heavily on the fragile UK currency

Having traded in the red for most of the day, the pound rebounded in the afternoon to close the day marginally up at 1.0859.

Having traded in the red for most of the day, the pound rebounded in the afternoon to close the day marginally up at 1.0859.

To view our weekly market snapshot

Sterling fell yet further on Friday on perceptions that the UK currency would be allowed to weaken to help the fragile British economy.

Sterling went into its steepest daily decline against the single currency in 5 months yesterday, losing 1.2%, after Mr. King revealed that he was content with the current value of the pound.

Sterling got a welcome reprieve from negative sentiment yesterday after BoE minutes revealed that there had been no discussion of cutting interest rates.

In a muted day’s trading in the build up to the MPC minutes, the pound made marginal gains, buoyed by rallying global equities.

Bearish sentiment toward the pound accelerated yesterday following a BoE report on sterling weakness in the wake of UK debt and banking concerns.

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Worries about the underlying health of the UK banking sector took sterling to its lowest point against the euro on Friday since April 27th at 1.1054.

The pound slid 0.5% against the single currency yesterday, as weak economic data and news concerning Lloyd’s bank reduced demand for sterling.

In a choppy day’s trading, the currency pair eventually closed down at 1.1214, with strong equities helping to stem the pound’s decline.

Sterling fell to a near four-month low against the single currency yesterday following Mervyn King’s suggestion of an interest rate cut.

Sterling neared one-month lows yesterday, losing 0.75% against the single currency to close down at 1.1342

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The pound edged up further against the single currency on Friday, continuing to ride on a wave of improved optimism about the UK economic recovery.

The pound was able to reverse a three-day slide against the single currency yesterday, as investor confidence was buoyed by the BoE’s decision not to extend the QE programme.

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A rally in equity markets was unable to prevent the pound from sliding for the third consecutive day against the euro yesterday, closing down at 1.1365.

Having made early gains against the single currency, the pound stumbled in later trading, to close the day marginally below the 1.14 level.

Investors were cautious of taking sterling positions yesterday, with the pound losing 0.5% against the single currency to close at 1.1404.

The pound climbed for the third consecutive day against the euro on Friday, supported by strong equities, to close at 1.1462, its highest point in over a week.

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The pound continued to show strength against the euro yesterday, posting gains of 0.4% to close at 1.1446.

Sterling rebounded yesterday following improved construction industry data, closing the day up 0.35% at 1.1398.

Sterling pared its losses yesterday to close the day just 0.05% down at 1.1358.

Sterling failed to capitalise on gains made on Friday as investors remained cautious of overestimating the UK’s revised GDP figure.

Sterling suffered again yesterday, after weak economic data threatened the stability of the UK economic recovery.

Another fall for sterling yesterday puts it into its longest decline against the single currency since January.

Sterling hit a 10-week low of 1.1410 against the single currency yesterday, as investors remained cautious of the risks inherent in the current UK economy

Bullish global equity markets were unable to prevent the pound from falling to an 11-week low of 1.1461 against the euro yesterday before eventually closing at 1.1475.

The pound fell to its lowest level against the euro in nearly a month on Friday after the single currency was buoyed by strong economic data and a return to risk.

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The euro hit a two-week high against the pound yesterday, before sterling regained some value in afternoon trading to finish the day 0.11 cents lower.

The pound hit its highest level against the euro in the past month yesterday, gaining 0.6 cents following improved investor confidence.