GBP EUR Drops After Inflation Meets Expectations 

GBP EUR Drops After Inflation Meets Expectations 

The GBP EUR exchange rate was -0.25% lower after the release of May inflation numbers for the UK came in at 9.1%, which analysts expected. Core inflation also dipped by 0.1%.   The GBP to EUR is still holding the support at 1.1650 and the data will determine the next path.  Inflation figures fail to spark the pound sterling  The pound sterling versus the euro was lower after inflation readings for the UK economy.  The headline inflation rate on a yearly basis rose by 0.1% to 9.1% but this...
GBP EUR Quietly Awaits UK Inflation Reading 

GBP EUR Quietly Awaits UK Inflation Reading 

The GBP EUR exchange rate was -0.11% lower as traders wait for Wednesday’s inflation reading from the UK before making any bets. The number will likely show a 0.1% gain to 9.1%. However, there is potential for further upside in the current climate. The UK saw its rail service crippled by the strikes over inflation and pay. In Europe, The Netherlands looks to join Germany in firing up coal plants to avoid a winter energy squeeze.  The GBP to EUR is still holding the support...
GBP EUR Weaker on Protocol Tensions

GBP EUR Weaker on Protocol Tensions

The GBP EUR exchange rate was -0.07% lower as the EU continues to take action over the Northern Ireland protocol. The latest move was to draft legislation aimed at strengthening its ability to respond to changes in the agreement. The largest rail strike in 30 years weighs on the pound sterling with the economy likely to be affected as millions of workers are stranded. The GBP to EUR is still holding the support at 1.1650 and that should provide upside this week. EU looks to strengthen...
GBP EUR Stronger After Macron Election Losses

GBP EUR Stronger After Macron Election Losses

The GBP EUR exchange rate was higher after the latest French elections. French President Emmanuel Macron lost his absolute majority with a surge in opposition voters. The week ahead will see inflation released for the UK, adding pressure to the government after a weekend of protests over rising costs. The GBP to EUR dipped below 1.1500 but rallied 200 pips to trade above the 1.1700 level. Bank of England still in focus over inflation threat The Bank of England will be in focus again this week with...
Will Recession Fears Impact GBP EUR Rate? The Week Ahead June 19th

Will Recession Fears Impact GBP EUR Rate? The Week Ahead June 19th

The GBP EUR exchange rate remained mostly unchanged this week after the Bank of England rate hike to 1.25% saved the pound sterling from earlier losses in the week. The Bank also said that UK inflation will rise to 11% in the autumn. The next inflation figures will be the key data set on Wednesday. The May figures will rise again from April’s 9% reading. The GBP to EUR looked to the 1.1700 level for support again after a sharp drop below 1.1500 ahead of...
A Rollarcoaster Week for GBP EUR - Weekly Review June 18th 

A Rollarcoaster Week for GBP EUR – Weekly Review June 18th 

The GBP EUR exchange rate had a rollercoaster week with a move to lows not seen in over a year, before rallying hard. The Bank of England interest rate hike spurred the late rally. GDP figures, wages and a revival of EU legal action over the Northern Ireland Protocol weighed on the pound sterling. The GBP v EUR was back at 1.1700 looking for support - buying below that level could provide it. Weaker growth and wage pressure weigh on sterling The pound sterling was lower on...
GBP EUR Rallies After Bank of England Rise in Interest Rates

GBP EUR Rallies After Bank of England Rise in Interest Rates

The GBP EUR exchange rate was higher by 0.60% after the Bank of England raised interest rates to their highest in 13 years, warning of inflation at 11%. The pound sterling shrugged off weakness after the EU formally announced legal proceedings to counter the Northern Ireland protocol bill. The GBP to EUR dipped below 1.1500 but rallied 200 pips to trade above the 1.1700 level. Bank of England hikes interest rates again The Bank of England has raised interest rates again to 1.25% and warned that inflation...
GBP EUR Weaker on Protocol Tensions

GBP EUR Sinks Against the Euro on Northern Ireland Protocol Strain

The GBP EUR exchange rate was sharply lower on Tuesday as the pair slumped through the 1.1600 level. The pound sterling is trading at the lowest level against the euro in a year after the publication of the Northern Ireland protocol and fresh legal threats from the EU. The pound to euro was trading at 1.1525 after the latest bout of weakness. Fresh Brussels threat hurts the pound sterling Brussels has warned it will 'bring the UK to compliance' over Brexit with plans to launch a trade...
GBP EUR Slumps Despite Higher UK Employment

GBP EUR Slumps Despite Higher UK Employment

The GBP EUR exchange rate was -0.73% lower despite a higher employment figure for the UK economy. The drop in the pound sterling is related to the underlying wage figures, which showed the largest drop in twenty years, playing into consumer confidence and spending. The GBP to EUR was trading below 1.1600 and a close below that level on a weekly basis would be the first since May of 2021. UK wages fall at the fastest rate in twenty years Inflation rising at current levels saw prices...
GBP EUR Slumps with Lower GDP Print

GBP EUR Slumps with Lower GDP Print

The GBP EUR exchange rate slumped by almost 0.60% after the country’s growth came in worse than expected. The economy contracted by -0.3% and marked a second monthly decline after a -0.1% drop last month. The Bank of England meets on Thursday to announce its latest policy measures. The GBP to EUR was trading at 1.1640 after the latest economic data. UK economy unexpectedly contracts for a second month Gross domestic product in the UK came in unexpectedly lower with a contraction of 0.3% which followed last...