GBP to EUR Outlook: Sterling Rallies Over 1.12 Against the Euro, What Could Happen...
The pound to euro exchange rate has boosted higher breaking over 1.12 for GBP vs EUR in afternoon trading on Friday. The pound initially fell lower against the euro after it was announced that UK Prime Minister Boris Johnson has the coronavirus along with health secretary matt Hancock before making a strong recovery making good ground. Those looking to buy euros have been presented with better levels amidst the corona pandemic. Professor Chris Witty, the chief medical officer for England has too shown symptoms...
Pound to Euro Exchange Rate: How COVID-19 Is Affecting the Pound
GBP/EUR exchange rates have been highly unstable at present with some of the most volatile periods of trading on record. Back in Mid-February the rates had pushed beyond the key resistance level of 1.20 and were sat on a 3.5 year high. However, since that point in time the pound may have best been described as ‘in freefall’ as the rates tumbled to 1.05 on the 19th March which was weakest time to buy Euros in 11 years since December 2008 amidst the financial...
Pound Recovers Against the Euro and Is the Recovery for Sterling Here to Stay?
The pound to euro exchange rate has recovered towards the end of the week trading above 1.12 vs the euro during Friday afternoon’s trading session. The FTSE 100 has also started to show signs of recovery after some huge falls during the last few weeks.
One of reasons why sterling exchange rates may have improved could be attributed to what is happening in the UK’s stock market as it appears as though investors are moving money back in to the FTSE100 and this has...
Positive End to the Week for the Pound Despite PM and Health Secretary Being...
The pound looks set to end the week above 1.11 against the euro, which is a welcomed boast for the currency which has suffered big losses as the markets reacts to the outbreak and global spread of the Covid19 virus. At the start of the week the pound had fallen to 1.0639 against the euro, taking us back to lows last seen in August 2019.
With it quickly becoming evident that the whole world would be hit financially by the spread of the coronavirus....
The Pound Continues Its Fightback
The pound has continued its fight back against the euro this morning with GBPEUR exchange rates climbing by 1%. At the start of the week the pound had slumped to multi year lows but over the last 3 trading days we have seen an increase in the pounds value. Some would argue that quite simply the pound has been purchased heavily in recent days due to the currency becoming extremely cheap and that’s the reason for the pound’s recovery.
Why Did the Pound Fall Against...
US Dollar Weakens Against the Pound After Further US Jobless Claims
The Pound has started to fight back vs the US Dollar over the last few days and had a huge recovery vs the Greenback yesterday. The US confirmed that 3.28million workers filed for unemployment insurance following the recent virus outbreak.
GBPUSD exchange rates managed to break just above 1.22 which is approximately 8 cents higher than the recent lows seen earlier this month. Indeed, the US Dollar hit its best level vs the Pound in 35 years creating some excellent opportunities to sell US Dollars...
Pound to Dollar Forecast: GBP to USD Rate Continues March Higher
Record number of Americans file for unemployment
The dollar tanked against the pound yesterday in the wake of a disastrous employment report, propelling the GBP to USD rate above the 1.20 benchmark. A record number of people filed claims for unemployment in the US last week, as the coronavirus pandemic brought huge swaths of America’s economy to a grinding halt. Official Labor Department figures revealed that the number of claims rose to 3.3 million, smashing the previous record of 695,000 in October 1982 – fresh...
Bank of England Holds Rates as Economy Begins to Feel the Squeeze
The Bank of England left the base rate unchanged at 0.1% and their quantitative easing programme at £645bn, in line with market expectation although noted that it was prepared to increase its asset buying should financial conditions tighten, and its clear from economic data released this week, the UK economy is beginning to feel the squeeze.
Chancellor, Rishi Sunak confirmed that the self-employed will be able to claim up to 80% of their average monthly profits, worth up to £2,500 per month, although the scheme...
New Zealand Dollar Exchange Rate: Investors Flee Leaving NZD Behind
Into the middle of the trading week, the New Zealand dollar has fared no better over today’s Asian trading session. The Kiwi currency is still struggling to overcome the pressure put on it by the coronavirus crisis. The drop in NZD came as investors began as foreign investors cashed in their holdings in a flight to safety over the worsening state of the global pandemic. The kiwi was trading at 59.60 US cents at 5pm in Wellington, off the day's low at 59.13 -...
