Pound to Euro Rate Falls 1 Percent as Brexit Talks Remain Gridlocked
The pound to euro exchange rate fell more than 1 percent during Friday’s trading, closing the week at 1.1200 against the euro and 1.2112 against the US dollar. GBPEUR saw its worst week in nearly two months as the pound fell nearly 2.5 percent, and GBPUSD saw similar losses. Sterling was the worst performing of the G10 currencies as the pound was hit by fears of Covid 19 and Brexit risks.
On Friday, Brexit tensions sent the pound tumbling as the UK and EU remained...
Pound Sterling Forecast – Will GBP fall further next week?
Last week wasn’t the best week for the pound with sterling finishing lower against pretty much all the majors. GBPUSD interbank rates started last week at 1.2430 before slipping to 1.2114 Friday, and GBPEUR began the week at 1.1454 before slipping to 1.1193 on the interbank rate by the end of the week.
Two of the key reasons were the struggling of the Brexit talks with the UK openly attacking the EU’s approach, and also poor UK economic growth figures showing the UK is likely...
Pound to Euro Exchange Rate – Further Losses Ahead?
Sterling exchange rates have lost a little ground against most major currencies over the course of the trading week, most notably hitting a 5 week low against the Dollar during yesterday’s afternoon trading session.
It seems that global sentiment is starting to slip again, and fears of a second wave of COVID-19 along with a major global recession are leading investors to batten down the hatches and take cover which is leading to some Sterling weakness.
For those that were following Sterling exchange rates...
Pound to Euro: Multiple Pressures Send the Value of Pound Lower
The pound fell sharply during yesterday’s trading as multiple pressures built on the UK currency. The pound to euro exchange rate is now trading at 1.1280, and 1.2189 against the US dollar, compared to 1.1460 against the euro and 1.2380 against the US dollar one week ago. Brexit trade negotiation uncertainty, Bank of England policy, and the UK’s slow exit from lockdown have all weighed on the UK currency.
The pound had been holding firm but since the Deputy Governor of the Bank of England...
Pound to Euro Exchange Rates: UK GDP Released this Morning
The pound to euro exchange rate has fallen lower with rates falling to a low of 1.1292 for GBPEUR this morning whilst the pound to US dollar exchange rate has also fallen to a low of 1.2250. The pound has found some support following the UK Gross Domestic Product (GDP) numbers released first thing this morning. The data showed the UK economy contracted 2% in the first quarter but there was a noticeable sharp fall in the march numbers as to be expected. The...
Pound Sterling Forecast – Where Next for Sterling?
The pound has begun this week in mixed fashion, trading neither particularly higher or lower on the speech delivered by Boris Johnson over the weekend speech which spelled out the path ahead in easing the lockdown restrictions. The currency market has proceeded rather cautiously as so far as we have very little change in the current circumstances and there is still the possibility of a second wave of infections.
And it was possibility of a second wave of infections which saw sterling losing ground at...
Key Week Ahead for Pound to Euro Exchange Rate as Boris Johnson Delivers Coronavirus...
Last week, the pound has ended the trading week slightly down against most major currencies, with interbank levels currently sitting in the 1.14s for GBP/EUR, the 1.23s for GBP/USD, the 1.72s for GBP/CAD and having just slipped into the 1.89s for GBP/AUD to name a few examples.
Boris Johnson's to Announce His Lockdown Strategy
With the country and financial markets eagerly awaiting Boris Johnson’s lockdown strategy announcements due out this evening, this could pose quite a volatile start to the trading day on Monday. For those...
Pound Sterling Forecast: Will the Pound Be Lower During This Shorter Week for the...
The UK is enjoying a shorter working week because of VE Day on Friday, with the typical May Bank Holiday being changed to accommodate the 75-year anniversary of the end of the Second world war. Some of the key topics to consider this week are the Services data today, the Bank of England interest rate decision 7 am on Thursday and the update on the UK’s lockdown status by PM Boris Johnson on Thursday and again on Sunday.
The pound has been finding itself more...
Pound Sterling Down Against the Euro and US Dollar as BoE Interest Rate Decision...
Since the 23rd March the UK has been in lockdown which has seen big falls for the stock market owing to the uncertainty of when the UK will be ‘getting back to work'. Pound sterling has however, during this time managed to improve against a number of different currencies including vs the euro and the US dollar.
Sterling exchange rates prior to the lockdown suffered particularly vs the US dollar as the pound fell to its lowest level to buy US dollars since 1985. Indeed,...
Australian Dollar Retreats Against the Pound as Trump Threatens US-China Trade War
The pound gained 0.8 percent against the Australian dollar during Friday’s trading as risk sentiment soured. US president Donald Trump threatened new tariffs on China following the coronavirus pandemic. Trump stated his trade deal with China would take a back seat as his government looked at retaliatory actions over the crisis. The president now faces a deep recession in an election year and his ratings have already begun to slide. He has escalated the attack on China, focussing on China’s mishandling of the crisis...