Pound to Euro rate near 26-week high on low ‘No Deal’ Brexit risk

Pound to Euro rate near 26-week high on low ‘No Deal’ Brexit risk

The pound to euro interbank exchange rate stands at 1.1624 today at the time of writing. This is just 0.21% below sterling’s recent 26-week high versus the Eurozone’s common currency, its strongest since May 8th. In part, this is because, although there’s still uncertainty over Brexit and the UK’s general election, the financial markets think that there’s a very low probability of a ‘No Deal’ Brexit. Meanwhile, looking to today, the Bank of England looks set to keep UK interest rates steady at 0.75%. That said,...
GBPEUR UK election: Why haven't pound to Euro exchange rates fallen?

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

The pound to euro exchange rate is being closely monitored for potential influence from the UK election. Sterling's relation to political news is well documented and soundly evidenced with GBP/EUR rates fluctuating ever since the EU Referendum and Brexit vote became an issue to markets, back in 2015. Conservative majority expectation helps Sterling remains calm Sterling had climbed in recent weeks as no-deal became less likely for November 1st, and the future signs of deal with the EU became more likely. Sterling to euro interbank rates...
Pound to Euro outlook Election uncertainty and Brexit hold Sterling to a tight trading range

Pound to Euro outlook: Election uncertainty and Brexit hold Sterling to a tight trading...

So far November has failed to produce any fireworks for the pound as we appear to be in ‘wait and see’ mode against the euro. The trading range of 1.15-1.1650 appears to have shortened to less than a cent and is currently moving between 1.1550-1.1635. As the political campaigns begin in the run up to the General Election on December 12th, investors appear to be stuck between a rock and a hard place when deciding on the pounds value. Goldman Sachs recommendation for Sterling The...
Brexit Pound to Euro exchange rate How will Sterling react to Brexit this week?

Pound to Euro exchange rate: What could affect GBP/EUR rates in November?

The current GBP/EUR interbank rate is 1.1573. There are a number of factors that could affect GBP/EUR rates in November. For instance, it’s forecast that the UK’s services vast sector shrank again last month, ahead of key data released this week. In addition, there’s the Bank of England’s (BoE) latest interest rate decision, due this Thursday, in which it’s thought that the BoE may cut its UK economic growth forecasts for 2019/20. Meanwhile, turning to the Eurozone, the common currency could be influenced in...
GBP to EUR forecast When will Brexit happen?

GBP to EUR forecast: When will Brexit happen?

After months, even years of waiting, today was supposed to be the day when the UK left the European Union. However, as we have seen recently the UK now has been granted another extension until the end of January 2020. General election campaigning to cause GBP/EUR volatility With a general election now having been called for 12th December campaigning to win will be the main focus rather than Brexit. Indeed, it appears as though the negotiations with the European Union have been paused until after the...
Pound to Euro forecast General Election confirmed

Pound to Euro forecast: General Election confirmed

Sterling volatility expected in lead up to general election The pound to euro exchange rate looks set for a volatile 6 weeks after it was confirmed last night that a UK general election will be held 12th December. A vote in the House of Commons resulted in a huge majority of 418 supporting a general election after eventually finding support from the opposition Labour party. Labour leader Jeremy Corbyn said his party would “now launch the most ambitious and radical election campaign for real change...
Pound to Euro outlook How will the Brexit and election shape GBPEUR rates?

Pound to Euro outlook: How will the Brexit and election shape GBP/EUR rates?

The pound to euro exchange rate has been losing ground as investors prepare themselves for the likelihood of a UK election this December. Investors are gearing themselves up for the December election as parliament votes today to decide whether or not back the election. GBP/EUR levels are still trading very close to the more recent highs we had seen which saw the pound to euro rate reach the interbank high of 1.1649 on the 22nd October. This is in sharp contrast to the lows of...
GBP to EUR exchange rate 3 month Brexit extension granted by the EU

GBP to EUR exchange rate: 3 month Brexit extension granted by the EU

The Pound continued to trade within the 1.15-1.16 interbank range at the end of last week as the market looks for its next move amongst some stagnant Brexit conditions. Today however, we have had further clarity on the extension being offered by the EU following the assertion on Friday that they will offer an extension but failing to confirm how long this extension would be. There has been little reaction by the Pound to this news. EU grants UK Brexit extension French President Emanuel Macron in...
Pound to Euro forecast How could the latest Brexit extension affect Sterling exchange rates?

Pound to Euro forecast: How could the latest Brexit extension affect Sterling exchange rates?

The pound to euro exchange rate had risen slightly late yesterday on the interbank market with rates currently sitting at 1.1561, at one point rates were as low as 1.1533, its weakest in over one week, or since Wednesday 17th October. Yesterday, the EU announced that it will extend the UK’s Brexit deadline, yet will only decide by how long early next week, once the UK Parliament has decided whether to hold a general election. Boris to call for election next week, will Corbyn support...
Pound to Euro exchange rate Sterling slides against the Euro as Brexit extension looks likely

Pound to Euro exchange rate: Sterling slides against the Euro as Brexit extension looks...

The pound to euro exchange rate has slipped from its 1.16 pedestal this morning following further Brexit delays from the House of Commons. Holding steady around 1.1550 at the time of writing the pound is still holding above the key 1.15 support level but looking for direction amongst the Brexit smog. PM Boris Johnson pauses legislation for latest Withdrawal Agreement Boris Johnson’s government looked close to progress yesterday evening when his amended Withdrawal Agreement Bill received support in the Commons by a majority of 30 votes....