UK Braces Itself for Election Day – How will GBP/EUR Rates React to the...
GBP/EUR rates have remained marooned under 1.15 during Wednesday’s trading, ahead of tomorrow’s UK general election.
With recent polls suggesting the Corbyn led Labour party have gained some momentum, the key question now is what is the likely result and how with the markets react to the final outcome?
Whilst the result seems to be more uncertain over recent days, the Pound did find some support earlier this week. It gained over a cent against the EUR following a tough run over the past week.
The markets...
GBPEUR continues to fall (Dayle Littlejohn)
Its been another poor day for the pound vs the euro as exchange rates have dropped 0.6% (1 cent). A €200,000 purchase is now £1,450 more expensive compared to when we started trading this morning.
Yearly and monthly manufacturing production numbers for June were released worse than expected, trade balance for Non EU showed a decline along with goods trade balance numbers. All in all, a bad day for UK economic data however I am not surprised. Investor confidence is low in the UK, therefore trade...
GBP/EUR exchange rate now approaching 1.17, but will new Brexit fears weaken the Pound?...
Yesterday morning the Supreme Court delivered its verdict on whether or not the UK government require parliamentary approval before invoking Article 50, creating some large swings between the GBP/EUR exchange rate.
The Supreme Court decided to uphold the High Court's decision, meaning that Theresa May will need to consult parliament before formally beginning the Brexit process. Many had expected this outcome to result in Sterling strength and initially the Pound did spike upward, but further complications soon weighed on the Pound causing it to drop.
Moving...
Sterling Euro Rates hit lowest level since November 2014 (Tom Holian)
Sterling Euro exchange rates have hit their lowest level since November 2014 following some very negative data published this week in the UK.
The UK current account deficit revealed a huge gap compared to the estimate.
The announcement showed -£32bn compared to the estimate of -£20bn and the figures were the worst since records began in 1948.
This is extremely concerning for the British economy and the Pound suffered as a result.
Even though UK GD figures for the final quarter of 2015 were revised upwards this had...
GBP/EUR 1.2150. Attractive rates to buy Euros. (Ben Amrany)
The pound has been holding steady around the 1.2150 level which is representing very attractive buying Euro rates. The pound rose sharply yesterday as official UK unemployment figures dropped to 6.9% the lowest figure in 5 years. The important thing is that this is below the 7% target rate the BoE had initially set out in their forward guidance policies. This milestone has caused the pound to spike and it would not surprise me if we see the Euro claw back some losses next...
GBP/EUR rates to enjoy a final day of improvements? (Joshua Privett)
The rally for Euro buyers this week has been a welcome surprise for many in the financial service industry, after a sustained period of delivering dissapointing news to our customers.
The improvement came as a result of more positive than expected inflation figures in the UK economy last month, after over seven months of consecutively poor news. Whilst this can be attributed to an early Easter, this was still received overwhelmingly positively by the marketplace.
However, with the second half of the month always quiet compared...
GBPEUR rises due to Bank of England (Dayle Littlejohn)
Earlier in the week UK inflation numbers rose to 2.9%, 0.9% above the Bank of England's target which gave support for the pound and all eyes turned to today's Bank of England's interest rate decision.
Each month members of the Bank of England (8 to be precise), vote to decide whether to hike, keep on hold or cut. This afternoon 3 members voted in favour of raising interest rates which surprised the market and GBPEUR exchange rates increased over a cent and therefore made back...
Will the Pound continue to make gains vs the Euro? (Tom Holian)
Sterling vs the Euro has started to make big gains since the middle of August as the economic data released by the British economy appears to have been better than expected since the vote to leave the European Union.
The rate to buy Euros has hit its highest level in 4 weeks this week following the UK manufacturing data which showed the biggest monthly increase in 25 years for the sector.
This has helped the Pound to make gains vs the single currency providing a ray...
GBP/EUR Forecast – Sterling Remains Under Pressure (Matthew Vassallo)
Sterling has lost further ground against its Euro counterpart today, falling by over a cent from the high.
GBP/EUR rates have dropped below 1.12, hitting 1.1145 at today’s low. Despite the Pound finding some marginal support this afternoon, it is clear that market confidence in Sterling remains minimal.
The EUR has had problems of its own but the overall perception of the Eurozone economy is far healthier than that of the UK’s. As such, it is unlikely in my opinion that the Pound will find any...
GBP-EUR Best Rates – A quiet week for UK economic data until Friday –...
Only on Friday when GDP figures of the UK will be released will our economic efforts have some say in the exchange rate. However, until then, the current 7-year highs against the Euro will be at the mercy of the Greek decision.
It seems this will finally be announced tomorrow, as a deadline ending Tuesday was installed over the weekend for Greece to accept the new proposals, and the language suggests there will be an agreements. While the official deadline for Greece is not until...
