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 Starts the Week off Steady

Pound to Euro Exchange Rate Inches Higher

The pound has recovered further this week with positive movement against both the euro and the US dollar, and taking rates to a twenty-day high against these currencies. GBP to EUR currently sits at 1.1170 and GBPUSD is at 1.2580. The UK Chancellor Rishi Sunak announced substantial measures on Wednesday to promote economic activity including a major change to the stamp duty threshold at which tax is paid on property sales as well as initiatives to try and get customers back into restaurants and on...

Pound at its lowest against the Euro in 19 months, and 37 years against...

The pound is notably weaker today following the release of the latest UK Retail Sales numbers showing a surprise fall of 1.6%, which makes the economic slowdown anticipated, and likely recession ahead seem much worse than thought for Britain. As I write, GBPEUR levels have dropped to a 19-month low, with the day low at the time of writing 1.1399 on GBPEUR and 1.1350 on GBPUSD. The cable level is a 37-year low, the worst for sterling since 1985 against the US dollar. I am...
GBP EUR Exchange Rate: The Week Ahead August 15th

Will the Pound rise against the Euro after ONS announcement?

Pound Euro gains this week The Pound Euro exchange rate has picked up once again towards the end of this trading week after the problems caused by last week’s mini budget. The statement made last week caused the Pound to plummet by as much as 5% during last Friday’s trading session. GBPUSD exchange rates also got close to their lowest level in history. Since then the Bank of England have stepped in and bought £65bn worth of bonds to shore up the market and this has...

GBP/EUR continues to trade at annual low with BoE meeting in focus in week

In the early hours of this morning, the Pound to Euro exchange rate hit a fresh annual low of 1.1385, which is the lowest level the pair has traded at in close to 20 months. The weak start to this week’s trading follows on from a 1.25% drop last week, after Friday’s sell-off pushed the Pound lower off the back of some concerning economic data for the UK. UK Retail Sales were expected to have dropped by 0.5% in August, but data released on Friday showed...

Will the Pound Remain Steady after Surprise Dip in Inflation ?

The pound has been relatively steady today following a surprise dip in the headline Inflation numbers. In welcome news across the country, the number came in at 9.9% higher year on year for August, versus the 10.2% numbers from last month for July. The important point is the number has been trending higher since the beginning of the year so this marks a turning point and could potentially signal a change in policy ahead. Inflation is very influential on interest rates, and interest rate...
Pound to Euro rate continues to fall, making history in the process

Pound Sterling losses continue as cost of living crisis dominates headlines – New Prime...

Sterling exchange rates have continues to drift to kick start a new trading week, as the cost of living crisis dominates headlines across UK media. With today being an important day for UK politics as we see the announcement of the winner in the Conservative party leadership contest, and ultimately who will be the new Prime Minister, they will almost instantaneously have to announce how they plan to combat what appears to be an extremely challenging winter for the majority of households and businesses. It is...

Pound rebounds following lighter than expected inflation figures

Wednesday’s trading session saw the pound on the front foot, gaining back some of the losses from the past week against a basket of currencies. Inflation data released in the morning showed price growth slowed in July for the first time since September 2021. Could this be a signal that the cost-of-living crisis has begun to ease in the UK? The Bank of England stated last month that they expect inflation to peak at 13%. The drop in price growth does pose an interesting question...

I Need To Sell Euros – Should I Do It Now Or Wait?

If you are one of the hundreds of thousands of people asking themselves the question "Should I sell my Euros now?" then this blog is the place for you.  At the minute Europe is in turmoil, banks are having their credit ratings cut, and we have preliminary meetings of European leaders today as a precursor to next weeks "summit to save the Euro".  As such you could be forgiven for thinking maybe it would be best to get rid of your Euros as soon as possible, however...
GBP USD Exchange Rate Edges Away From 21-Month Lows

Pound to Euro outlook: GBP/EUR rate hits 1.1061 on the interbank rate, could it...

Promising news of a Brexit compromise boosts GBP/EUR rate The pound to euro exchange rate has jumped to 1.1061 on the interbank exchange today, representing the best time to buy euros with pounds since July 29th. The improvement is following news that German Chancellor Angela Merkel will consider a change in the current stance from the EU towards the UK. Expectations that perhaps the Irish backstop issue could be resolved have helped the pound to shake off some of the no-deal blues which had seen...