Pound euro exchange rate: GBP/EUR eases despite Eurozone inflation hitting a two-year low

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The pound euro exchange rate eased to €1.0916 today despite Eurozone inflation falling to its weakest point in more than two years. The July report showed the year-on-year figure dropped from 1.3 percent to 1 percent. Analysts at Bloomberg commented: “The report adds to negative data over the past weeks that may convince [European Central Bank ] officials that bold steps are needed to revive momentum in the [Eurozone]. Simply The Best 7 Days A Week

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China’s bitcoin rival claims are branded ‘nonsense’

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CHINA’S claim that its cryptocurrency rival to bitcoin is almost ready for launch has been cast into doubt by some of the region’s leading crypto observers. Earlier this week, the deputy director of the People’s Bank of China – Mu Changchun – hinted at an event in Beijing that the cryptocurrency was “very close to being out” and that the bank itself would be the issuer of the digital asset. Simply The Best 7 Days A Week

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Pound euro exchange rate rises ECB sets up ‘strong’ stimulus package to boost Euro economy

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The pound euro exchange rate edged to €1.094 this morning on speculation that the European Central Bank’s planned stimulus package will be bigger than initially expected. Olli Rehn, a member of the ECB’s rate-setting committee, said: “When you’re working with financial markets, it’s often better to overshoot than undershoot, and better to have a very strong package of policy measures than to tinker.” Simply The Best 7 Days A Week

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