GBPEUR UK election: Why haven't pound to Euro exchange rates fallen?

Pound hits record low against the US Dollar, and drops significantly against the Euro

Yesterday was a very difficult day for the Pound as financial markets appear to have lost faith in both the Bank of England’s monetary policy and the new cabinet’s mini budget. Last Thursday the new Chancellor of the Exchequer, Kwasi Kwarteng announced his mini-budget outlining plans for a raft of tax cuts. Then over the past weekend he pledged further tax cuts in order to try and reinvigorate the UK’s stalling economy and attempt to counter the increasing inflation rates not seen in decades. His plans...
Pound to Euro Gains After Weaker German Retail Sales

Pound Sterling stages comeback following Bailey comments but remains fragile

The pound enjoyed a positive session yesterday with gains against every major currency. However, the gains only brought sterling exchange rates back to similar ranges seen for the last few days. Sterling opens the day slightly softer across the board.  Governor of the Bank of England Andrew Bailey prompted a sterling sell-off late into Tuesday’s session. He stated that the bank would remove its current emergency support for the UK bond market on Friday and that pension funds heavily invested in UK government bonds (known...

Pound jumps on expectations that Liz Truss will announce huge economic plan – Sterling...

The pound has struggled to find many positive days in recent weeks, however, over the course of this morning we have seen sterling exchange rates creep up against all major currencies. The majority of this can be put down to a minor shift in sentiment and that investors and speculators alike appear to have some confidence behind the expected economic plans being muted by new Prime Minister Liz Truss. Expectations are for an economic package of £130 Billion to be announced in due course which would...
New Zealand Dollar Exchange Rate: Investors Flee Leaving NZD Behind

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 -...
GBP EUR Exchange Rate: Weekly Review July 16  

What happens to exchange rates over Christmas (Steve Eakins)

Through the festive period many people ask if there will be any effects on the market, either from more holiday cash being needed or whether all the toys being bought from the US and Europe change the prices.  The simply answer to this is No. These do not traditionally change the price of the Pound over the Christmas period.  What we do see happen however though is that the markets become very volatile due to the lack in volume being traded. In normal trading sessions the...

Sterling back on the front foot – will the rise continue?

Sterling back on the front foot – will the rise continue? Pound sterling has started the days trading on a positive foot gaining ground against a basket of major currencies. GBPEUR is trading within half a cent of the three-month high. Cable (GBPUSD) is trading close to four-month highs. A transfer of £100,000 is buying $17,000 and €8000 more vs the low of the last three months. Now could present a window of opportunity for those looking to buy foreign currency with sterling. Figures released yesterday showed...
Pound to Euro Starts the Week off Steady

Will the pound weaken again?

Sterling exchange rates hang in the balance once again following a day of poor performance in yesterdays session. The pound dropped close to monthly lows against euro while also losing value against the US dollar and a basket of other currencies. Sterling has opened this morning on a more positive footing. The announcement that cryptocurrency giant Binance would not rescue their competitor FTX triggered a significant sell-off in the crypto markets. A number of asset funds are invested in the crypto sphere meaning a sell-off...
GBP EUR Could Head Lower After Growth Revisions

Pound Sterling Forecast – The Week Ahead for Sterling Exchange Rates

First and foremost it has been a tough start to the week in terms of economic data, which has led to a drop-off against most majors. Growth figures for the month came out at 0.2% instead of the predicted 0.5%, Industrial and Manufacturing production figures also missed the mark, which again just adds more fuel to the fire that a long and challenging recession is fast approaching for the U.K. Our condolences to the Royal family after the terrible news that Her Majesty had passed on...
GBP EUR Could Head Lower After Growth Revisions

Three Key Events in a Vital 72 hours for GBPEUR and GBPUSD Exchange Rates

The beginning of this week in the UK was very sombre with Her Majesty’s funeral and a UK Bank Holiday. This meant UK markets were shut, and ensured a fairly sleepy start to the week from a currency perspective, with sterling still nestling in the doldrums following the poor Retail Sales data from last week. The rest of this week looks far from calm however, with three key events that could trigger market movements for the pound, US dollar, Euro and many other currencies. The...
GBP EUR Exchange Rate: The Week Ahead June 12th

Will the Pound recover its recent losses against the Euro?

Despite the rate of cable (GBP/USD) climbing as a result of US Dollar weakness, the Pound has been slowing softening against the Euro throughout November so far. Between the middle to late October the Pound remained a good few cents above its current trading levels against the Euro, and even climbed above 1.1650 at one point offering Sterling sellers a good opportunity to make their GBP/EUR currency exchanges. The climb in the Pound last month was a surprise as Sterling climbed by almost 10-cents from the...