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GBP/EUR Drops to Seven-Year Low and Euro Rallies, AUD/GBP Higher

As the euro jumped against the dollar, it was given some further buoyancy to climb against sterling. Britain’s trade balance data disappointed markets yesterday when it was revealed that the deficit grew in June following the hung parliament result. Now some of the largest banks such as HSBC and Morgan Stanley have predicted the euro will have a higher value than the pound before the year closes.

The euro may be offered more opportunity to rally if the European Central Bank (ECB) decides to start the removal process of its stimulus programme. …

This post is from Are you thinking Australia? | thinkingaustralia |. Click here to read the full text

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