Pound to Euro Rate: GBP Falls on Virus Fears and Manufacturing Data as EUR Rallies

Pound continues losses against the Euro – levels nearing 1.22

The pound has continued its recent poor run against the Euro falling to 1.2250 losing nearly half a cent against the single currency. Rates have now fallen nearly 5% since the end of July and may well continue in the run up to next months Bank of England interest rate meeting scheduled for the 8th November. At the meeting there is a real chance that Mervyn King will introduce up to another £50bn through its asset purchasing program quantitative easing. Yes you could argue that...
GBP EUR Looks to Employment Figures for Support

Banking Union Could Speed up Eurozone Recovery

EU leaders have agreed to set up a single banking union from January 1st 2013, which will enable the eurozone to speed up economic integration and will help the region to 'advance quicker and with more assurance', according to French president Francoise Hollande. It has also been agreed that the European Central Bank (ECB), who will act as supervisor-in-chief, will have the authority and power to intervene in any of the eurozone's 6,000 banks and a clear sign that leaders wnat to avoid the current...

Market Reaction BoE Minutes and UK Unemployment Figures

UK unemployment figures and the BoE (Bank of Engalnd) minutes from their monthly meeting were released today and provided Sterling with some much needed respite. Both were positive, as unemployment fell by 50,000 and the BoE minutes confirmed that there was a 9-0 vote against further Quantitative Easing at this time. Personally I still believe we will see another round of QE before the end of this year but whilst we avoid it, the markets will see this as a positive and recat accordingly. We have heard...
GBP EUR Looks to Employment Figures for Support

Pound Sterling data out today – What will happen for the Pound against the...

This morning will see the release of industrial and manufacturing production for the U.K which may set the tone for the Pound in early morning trading. In the afternoon we have head the GBP (Gross Domestic Product) figures from the NIESR and the Governor of the Bank of England Mervyn King talking outside of trading hours at 19:30pm which may lead to a big shift overnight. Sterling had dropped against the Euro over the past few days and personally I feel we may see rates creep...
GBP EUR Looks to Employment Figures for Support

Spanish bond auction this morning will give insight as to the markets perception of...

By Spain requesting a bailout it begins the ECB’s bond buying programme and an influx of much needed funds into the Spanish system. This can lead to an increased in market and investor confidence and a move towards riskier currencies such as the Euro as in theory it will drive down Spain’s borrowing cost and in theory lead to a more stable Euro zone. Today is a busy day with the Bank of England and ECB interest rate decisions at 12 and 12:45 respectively,...

Pound Euro drops as Spain consider bailout once again – Interest rate decisions tomorrow...

Far from surprisingly, Spain is reported to be ready to  accept a Euro zone bailout in the coming few weeks, although Germany is trying to slow things down. Spain  had appeared to be stalling over these last few weeks but this has all happened so quickly that a bailout could happen as soon as next weekend. There  is now a great deal of uncertainty as to how and when aid for Spain will come  and whether it will be a bailout or not. With this very big unknown...
GBPEUR Levels Back Near the Recent Highs as Investor Concerns on the Euro Heighten

EUR Strength Amid Rumours of Further QE for the UK

The EUR continued to strengthen against GBP during Tuesday's trading, with rumours rife that the markets were starting to factor in a further round of Quantitative Easing in the UK. This annoucncement could come as early as Thursday, when the Bank of England will make a decision on whether to cut interest rates, in addition to any announcement of further QE. These decisions are seen as key to the next major move on the GBP/EUR currency pair and many people will be waiting for...
GBPEUR Levels Back Near the Recent Highs as Investor Concerns on the Euro Heighten

Pound Euro exchange rates, GDP figures help Sterling and Spain is still the talking...

This morning we have another revision of second quarter GDP figures for the U.K and expectations are for there to be no changes anything other than this could lead to either a short spike for the Pound or Sterling weakness. Gross Domestic Product essentially is how much an economy grew or shrank during a specific period and two consecutive quarters of negative growth places an economy in a recession (Just what we find ourselves in at present) and the key to officially being out of...

Will Sterling Euro Exchange Rates Stabilise?

Recent exchange rate movement for sterling euro has been exceptionally volatile and with Greece's next bailout tranche due in October, and UK GDP figures in a couple of days it remains difficult to accurately asses where the currency pair will end up. The huge surge in July was based on the fear the Euro would tear itself apart, however calming words from Mario Draghi and the bond buying program have helped the Euro fight back from a four year low.  In fact early last week it...

Greek Debt Problems Resurface Amid Fears of a Spanish Bailout

Just as the EUR looked to be finding some steady ground following months of instability, the tide once again seems to be turning against the single currency. For all of those readers needing to make a EUR transfer it is important to take a step back, as on the surface it is beginning to feel like the never ending merry-go-round. Just as it seems things are picking up, they drop off and just as it seems hope is lost, the EUR seems to bounce...