GBP to EUR Higher as UK Inflation Picks Up

GBP to EUR Higher as UK Inflation Picks Up

The GBP to EUR exchange rate was higher on Wednesday after the latest inflation release showed a tick higher in fuel and food prices. The Eurozone inflation number will be out later this morning and this could give the market some direction. GBPEUR was trading slightly higher around the 1.1250 level and tomorrow will also bring a rate decision from the ECB.  UK inflation Comes in Higher Than Expected The UK inflation numbers for December came in higher as expected with a 1.4% reading in core inflation,...
The pound to euro exchange rate was flat in early Tuesday trading after the pair erased an early week dip.

Pound to Euro Rate Recovers Early Week Losses

The pound to euro exchange rate was flat in early Tuesday trading after the pair erased an early week dip. Sterling is threatening to break above a key support level as the market awaits inflation data and a rate decision from the European Central Bank. GBPEUR was trading at 1.1245 in early Tuesday trading and the 1.1280 price level would be the target for further gains to develop. Economic Data Ahead for the GBPEUR The pound to euro pair will be see economic data released in the...
minimal market movement so far for Sterling exchange rates

Minimal Market Movement so far for Sterling Exchange Rates

We have seen limited volatility for Sterling exchange rates at the start of the trading week, with the pound making little headway against any of the major currencies. Last week was quite different, with the pound ending up being the best performing of all of the G10 currencies, hitting the highest level we have seen against the Euro for a number of months and also hitting an 18 month high against the Dollar. One of the key focal points for investors at present is pace and...
Pound to Dollar Rates Dragged Lower by Dollar Strength

Pound to Dollar Rates Dragged Lower by Dollar Strength

The dollar ended last week full of verve as weak domestic data boosted demand for the safe-haven currency. Friday’s figures highlighted the ongoing damage the Covid-19 pandemic is inflicting on the economy, dragging US Treasury yields lower – and the pound to dollar rate with it as investors turned more risk-averse. US retail sales declined for a third straight month in December. Consumer spending was strangled by job losses and renewed measures to slow a surge in Covid-19 infections – further evidence that the economy applied the...
Pound to Euro Rate Pauses Ahead of Economic Data Releases

Pound to Euro Rate Pauses Ahead of Economic Data Releases

The pound to euro exchange rate was 0.20% lower as sterling paused ahead of a big week for economic data. Sterling was strong against the European single currency for six-straight days leading to a test of the 1.1278 resistance level from November. GBPEUR was trading at 1.12235 in early trading on Monday and the pair will see inflation data and an ECB rate decision in the week ahead. Commerzbank Bearish on GBP Outlook Currency analysts at Germany's Commerzbank have said they are bearish on the prospects for the...
GBP to EUR Awaits Inflation After Strong Week

GBP to EUR Awaits Inflation After Strong Week

The GBP to EUR rate closed the week at 1.2790 marking the highest close weekly close since May. The pound was able to shrug off weak GDP figures and the pair will now await inflation figures in the week ahead for both the UK and Europe. GBPEUR has attempted to get above the current price level four times since June so a move higher will likely open up a new trend with the 1.1500 level ahead. Inflation Data Will Guide in the Week Ahead The week ahead...
GBP to EUR Higher with European Vaccine Delay

GBP to EUR Higher with European Vaccine Delay

The GBP to EUR rate saw its highest weekly close since May after Pfizer announced delays for delivery of European vaccines. The pound had already been strong on the week as the UK government continues to push ahead with a mass vaccination campaign. GBPEUR closed the week at 1.2790 and a move above that level could see the pair advance further to 1.1500. Pfizer to Reduce Delivery of Vaccines The US pharmaceutical company Pfizer said on Friday that deliveries of its coronavirus vaccine will be temporarily reduced...
GBP to EUR Pauses at November Highs

GBP to EUR Pauses at November Highs

The GBP to EUR rate was flat in early Friday trading after a sixth-consecutive day of gains saw sterling testing the November highs versus the euro. Data out today from the Office for National Statistics (ONS) showed that the UK economy fell 2.6% in November due to the current government lockdowns. higher by 0.10% on Thursday with the pair looking to capitalize on five-straight days of price gains. The European economy awaits the release of full year Gross Domestic Product (GDP) from Germany today, while...
Sterling Gains on Comments from BoE Governor

Sterling Gains on Comments from BoE Governor

Sterling has seen some impressive gains against the majority of major currencies following news from the Bank of England (BoE). There are currently rumours circulating that the BoE could potentially cur interest rates into negative figures at the next Monetary Policy Committee meeting in February. Negative interest rates would mean you would have to pay to hold your money on account at a bank. Such a move could result in many foreign investors taking their funds out of the UK and likely devaluing Sterling. Thankfully,...
Pound to Dollar Rates Hit Multi-Month High

Pound to Dollar Rates Hit Multi-Month High

Having marched progressively higher on the back of softening interest rate speculation, vaccination hopes, and dollar weakness on Tuesday, the pound to dollar rate flirted with the 1.37 barrier yesterday. The elusive benchmark once again played hard to get, but the pair did manage to kiss its highest level since mid-2018 – over two and a half years ago. The pound had felt the weight of mounting speculation that the Bank of England (BoE) is on the verge of introducing negative interest rates in the...