GBPEUR Rallies Despite Potential Return of Restrictions

GBPEUR Rallies Despite Potential Return of Restrictions

The GBPEUR exchange rate rallied 0.52% on Wednesday to reverse five-straight days of losses for sterling. The pound has seen some buyers emerge as the seven-day average for virus cases flattens out, but there were warnings that the UK could see the return to restrictions in three weeks. The GBP to EUR now trades at 1.1625 and tomorrow will see the latest European Central Bank interest rate meeting. UK could lose 40,000 care home staff over mandatory jabs Around 40,000 care home staff could be lost if...
GBPEUR Sinks Again with Virus Case Surge

GBPEUR Sinks Again with Virus Case Surge

The GBPEUR exchange rate sank -0.20% on Tuesday to trade at a five-week low versus the euro as virus variant cases surge in the UK. England lifted all coronavirus legal restrictions on Monday, in what was dubbed "Freedom Day", but a surge in infections has put a dampener on the prospects for the reopening. The GBP to EUR now trades at 1.1570 and the headline data for the week is the ECB rate meeting on Thursday. Focus on ECB meeting this week In a quiet week on...
GBPEUR Sinks on UK ‘Freedom Day’ Shambles

GBPEUR Sinks on UK ‘Freedom Day’ Shambles

The GBPEUR exchange rate sank -0.62% on Monday despite the UK removing all virus restrictions. We said in yesterday’s article that the pound could drop ahead of the ECB meeting on Thursday and that is what has happened. Sterling had too many attempts at the 1.1700 level and failed to capitalize with a move to the yearly highs. The GBP to EUR now trades at 1.1580 and there is no major economic data ahead of the ECB rate decision. Sterling is reacting to the fact...
GBPEUR Could Head Lower Before ECB Rate Meeting

GBPEUR Could Head Lower Before ECB Rate Meeting

The GBPEUR exchange rate failed another time to hold gains above the $1.1700 level and the pair could head lower. Thursday will see the latest European Central Bank interest rate meeting and press conference. The GBP to EUR has also been moving on the latest surge in virus variant cases and today is the long-awaited lifting of restrictions for Britain. Deloitte sees UK consumer confidence at pre-virus levels UK consumer confidence has bounced back to pre-pandemic levels in Q2 2021, moving higher by two percentage points from...
GBPEUR Rallies Again on British Employment Data

GBPEUR Rallies Again on British Employment Data

The GBPEUR exchange rate was -0.10% lower on Thursday as it repeated the price action of the previous day. A sharp rally on stronger economic data was met with selling and the price retreated. This time it was the turn of employment data with the UK seeing the unemployment rate drop to 4.8%. The GBP to EUR has given up the day’s gains but is looking for support at the stubborn 1.17 level. That could be the springboard for further gains to the yearly highs...
GBPEUR Giving Up Inflation Gains Before Jobs Data

GBPEUR Giving Up Inflation Gains Before Jobs Data

The GBPEUR exchange rate was -0.11% lower on Wednesday despite trading at the highest level since early April after inflation data. Traders may be reacting to a surge in virus cases and the UK will also see employment data today. The GBP to EUR traded at 1.1758 on Wednesday, which was close to the 1.18 highs after inflation nudged further ahead of the BoE’s target. Inflation soars again in the UK The UK inflation rate has jumped close to a three-year high as consumer prices accelerated on...
GBPEUR Rejected by 1.17 Price Level Again

GBPEUR Rejected by 1.17 Price Level Again

The GBPEUR exchange rate was rejected yet again by the 1.17 price level with the pair trading at 1.1675. German and Eurozone ZEW economic sentiment figures both came in much lower than forecast, while the pound is also getting support from the potential addition of new countries to the travel green list. UK minister Grant Shapps is also expected to update on the UK’s green list this week after pressure from travel and airline companies. The GBPEUR has the yearly highs at 1.18 but the...
GBPEUR Supported by Boris Johnson Reopening Update

GBPEUR Supported by Boris Johnson Reopening Update

The GBPEUR exchange rate was slightly higher for the week after Boris Johnson updated the country on his July 19th reopening. The Prime Minister has committed to the July 19th date but did not rule out a return of restrictions. The day ahead will see ZEW economic survey updates for Europe and Germany. The GBPEUR is trading near 1.1670 as the pair looks to make another push for the yearly highs at 1.18. PM Johnson Outlines Plans The pound was supported after Boris Johnson outlined plans for...
GBPEUR Stuck in Familiar Territory Near 1.17

GBPEUR Faces an Important Price Level Again

The GBPEUR exchange rate is opening the week at the 1.1660 price level and is looking to get another push towards the 1.17 level. That level proved stubborn over the last two weeks and traders could try to get the pound sterling back to the yearly highs at 1.18. The GBPEUR saw a small gain last week as inflation fears cooled and European data improved, particularly in Germany. ZEW survey data will lead this week Last week saw German unemployment and retail sales improve as the economic...
GBPEUR Moves Back Above 1.17 with Weak IFO

GBPEUR Heads Lower After Data, BoE Comments

The GBPEUR exchange rate was lower on Thursday after a set of economic data from Europe. The German and Eurozone economies saw PMI data marked higher alongside a recovery in German retail sales. Bank of England governor Andrew Bailey also warned traders not to over-react to the recent inflation jump. The GBPEUR is trading above 1.1620 and is at risk of further losses this week with no more data on Friday. German retail sales recover in May German retail sales saw a rebound in May as a...