Forex trader news: Sterling rises against euro

The pound has risen against the euro this morning (March 30th), forex traders may be keen to note.

According to Reuters, the single currency has shed 0.4 per cent against sterling after the former struck a five-month high of 88.365 pence on Tuesday.

Concerns over the eurozone's debt crisis are being blamed for the currency's drop, however there are still expectations that UK interest rates will rise later than those in Europe.

A London-based spot trader said: "There was some selling in the euro earlier in the session but this pair isn't the most aggressive of movers and in the current market I can't see it travelling too far."

However, the euro is still up by 2.3 per cent on the year despite today's fall.

This comes after sterling increased by 0.1 per cent against the dollar, following on from its little change revealed against the US currency revealed this morning.
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