7th August 2012
The GBP has fallen to a one-month low against the euro as more evidence of the sluggish British economy emerges.
Last week, the single currency made good gains on Sterling as the European Central Bank confirmed its desire to boost struggling countries on the continent and yesterday (August 6th) it was worth 79.63p as traders' concern about the UK economy grows.
Reuters reports that investors are becoming anxious about the Bank of England's inflation report which is due on Wednesday.
Recent surveys have revealed that the UK has had a slow start to the third quarter of the year, with manufacturing output down and the services sector also reporting a slow down.
This has lead to expectations of more quantitative easing in the country.
Traders believe that if the euro can manage to surpass its 55-day average of 79.70p then it could easily increase to 80p.
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