|11-14-2014, 12:06 PM||#1|
Euro rises against pound following ECB inflation report
The euro rose against the pound on Thursday after the euro zone inflation report pointed out reducing inflation expectations and growth for the next two years.
The European Central Bank released its Survey of Professional Forecasters (SPF) for the fourth quarter of 2014, showing that inflation and growth expectations were revised downwards due to reduced oil prices and the fragile economy. Despite that, the euro will continue its rally.
The euro benefited from the inflation data of the euro zone economies, which showed consumer prices stability in October, and specifically Germany, the largest economies in the region.
Concerns still surround the German economy after the negative data released lately, but the inflation data today which showed stability in consumer prices have eased concerns about the health of the German economy, which contributed to support the euro.
The euro rose 0.47% against the pound trading at 14:16 GMT around 0.7917, compared to the entry levels 0.7880.
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