GBPEUR

Time appears to be running out for the UK and the European Union in order to arrange a trade deal prior to the end of this year. The most recent deadline that has been suggested is that of next Monday 23rd November. With so many deadlines already having been passed so far it may be difficult once again to hit this one. We are just over 6 weeks before the end of the year and time appears to be quickly running out. We have seen the...

As we head ever closer to the Brexit date of 31st December it is likely once again that Sterling exchange rates may be dominated by Brexit trade deal discussions and progress (if any) that is made with them. On Friday, news broke that the Prime Ministers chief advisor Dominic Cummings, no stranger to the headlines had departed from number 10 with immediate effect, this news coupled with the fact that PM Boris Johnson is now self-isolating again due to coming in contact with someone carrying...

The pound to euro exchange rate fell sharply yesterday having rallied higher throughout the week with rates hitting a low today of 1.1106 for the pound to euro currency pairing. Rates have also fallen for GBP vs USD with levels hitting a low of 1.3109 down from 1.3291 on Wednesday. The pound found additional support this week after the announcement on Monday of a new vaccine that could prevent more than 90% of people from getting Covid-19. This vaccine being tested by pharmaceutical companies Pfizer...

The pound experienced a positive swing this week in response to Monday’s announcement of successful trials of a COVID-19 vaccine. The pound to euro exchange rate hit a two month high of 1.1285 during yesterday's trading but failed to maintain these gains throughout the day and once again closed below the key resistance level of 1.1250. This resistance is key as these levels act like ‘ceilings’ keeping prices from rising higher and are often the level where rising prices stop, change direction or indeed begin...

The pound to euro exchange reached a 2-month high during yesterday’s trading as news of a Covid-19 vaccine and increased optimism of a Brexit trade deal boosted the currency pair. Pound to euro was up more than 1 percent at one point, trading at 1.1250 although finished the day consolidated just above 1.12. Pound to dollar saw similar gains, reaching 1.3270 before holding comfortably above 1.32. The major break was confirmation that pharmaceutical giant Pfizer could soon have a vaccine in place to combat the...

Sterling exchange rates have enjoyed the best trading day witnessed in a while, seeing a surge in value against most major currencies, notably with interbank exchange rates going above 1.12 against euro and also breaching the best rates witnessed against the dollar since early September. It is thought that due to the success noted by Pfizer yesterday that this having a positive impact on the value of sterling, firstly the U.K Government has good access to the vaccine and already has provisions in place to...

The European Union will resume talks in the London later today with UK officials. The potential outcomes of these talks continue to be the main driver of GBPEUR exchange rates. The two sticking points appear to be that of the fishing rights as well as competition issues between the two sides. Boris Johnson has made signs that he is keen to move things forward but has also said he is still prepared to leave the European Union without a deal by the end of this year. Michel...

The pound has experienced a tricky week with the US election failing to establish a winner and sterling remaining at the mercy of sentiments on Brexit, COVID-19 and also the Bank of England (BoE). Like pretty much everything in our lives at the moment, little is straightforward for the pound with so much for the currency markets to consider and to also wait upon before allowing investors to make a decision. The US election is at the time of writing still in the balance and whilst...

The pound to euro exchange rate gained 0.2 percent during trading yesterday, as the Bank of England announced a further £150 billion of quantitative easing (QE) to support the UK’s stalling economy. The bank’s Monetary Policy Committee members were unanimous (9-0) in their vote, pushing the pound to euro exchange rate back above 1.11. The bank has now borrowed £895 billion although there was no change in interest rates, which were left at 0.1%. The bank has left the option of zero or negative interest...

The pound to Euro exchange rate starts the week on uncertain ground after the announcement on Saturday that England will now commence a second national lockdown this Thursday. UK Prime Minister Boris Johnson announced that the lockdown will last one month until 2nd December and is now required to help save the NHS over the Winter period. The number of coronavirus cases have now gone passed scientific advisers worst case scenario which has forced the government into this action now. The announcement follows turmoil...