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Pound hits fresh euro high after ECB rate cut

Market Data - BBC News

Market Data

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Markets

UK markets
UK markets % change Value
Change
+0.67%
7547.93
+50.06
+0.62%
20446.48
+126.13
Europe markets
Europe markets % change Value
Change
+0.58%
555.90
+3.20
+0.51%
5332.53
+27.31
+0.22%
12189.26
+26.25
+0.26%
3367.91
+8.83
+0.41%
9425.20
+38.40
US markets
US markets % change Value
Change
+1.32%
25494.07
+331.66
+0.63%
7822.98
+48.87
+0.71%
2838.35
+19.98
Asia markets
Asia markets % change Value
Change
-0.50%
37663.56
-188.44
-0.82%
27100.06
-223.53
-0.05%
22192.04
-12.18
As of 14:18 16 Aug 2018

Currencies

GBP
% change One £ buys
Change
GBP against Euro
-0.18%
€1.1171
-0.0020
GBP against Yen
+0.26%
¥140.9850
+0.3600
GBP against USD
+0.34%
$1.2741
+0.0040
USD
% change One $ buys
Change
USD against Euro
-0.48%
€0.8772
-0.0040
USD against GBP
-0.30%
£0.7852
-0.0020
USD against Yen
+0.03%
¥110.7750
+0.0300
Euro
% change One € buys
Change
Euro against GBP
+0.18%
£0.8952
+0.0020
Euro against Yen
+0.43%
¥126.2050
+0.5400
Euro against USD
+0.50%
$1.1402
+0.0060
Yen
% change One ¥ buys
Change
Yen against Euro
-0.43%
€0.0080
0.0000
Yen against GBP
-0.26%
£0.0070
0.0000
Yen against USD
-0.03%
$0.0090
0.0000
As of 14:16 16 Aug 2018

Commodities

Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
+0.40%
71.04
+0.28
WTI Crude Oil Futures
+0.03%
65.03
+0.02
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
-0.72%
1186.70
-8.60
Gold (Forex Index pm fix)
-1.25%
1182.00
-15.00
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
-0.14%
2.94
-0.00
As of 14:18 16 Aug 2018

The pound has hit its highest level against the euro since November 2008, the day after the European Central Bank (ECB) lowered its key interest rate.

The pound rose by almost a cent to 1.26 euros, making a euro worth 79.3 pence.

The euro has weakened against the pound during the eurozone debt crisis, while the ECB rate cut from 1% to 0.75% makes the euro less attractive to investors.

The euro has benefited in recent years from higher interest rates in the eurozone compared with the UK and US.

Rates in the UK are 0.5%, while in the US they are between zero and 0.25%.

Against the dollar, the pound fell slightly to $1.55.

"The eurozone has finally succumbed to intense pressure to cut interest rates to a record low as its debt crisis continues to curb global growth," said Harry Adams at foreign exchange group Argentex.

"Traders are selling the euro as it far less attractive to investors as it was six months ago."