How COVID-19 Is Affecting the Pound

Pound to Euro Exchange Rate: How COVID-19 Is Affecting the Pound

GBP/EUR exchange rates have been highly unstable at present with some of the most volatile periods of trading on record. Back in Mid-February the rates had pushed beyond the key resistance level of 1.20 and were sat on a 3.5 year high. However, since that point in time the pound may have best been described as ‘in freefall’ as the rates tumbled to 1.05 on the 19th March which was weakest time to buy Euros in 11 years since December 2008 amidst the financial...
Pound Recovers Against the Euro and Is the Recovery for Sterling Here to Stay?

Pound Recovers Against the Euro and Is the Recovery for Sterling Here to Stay?

The pound to euro exchange rate has recovered towards the end of the week trading above 1.12 vs the euro during Friday afternoon’s trading session. The FTSE 100 has also started to show signs of recovery after some huge falls during the last few weeks. One of reasons why sterling exchange rates may have improved could be attributed to what is happening in the UK’s stock market as it appears as though investors are moving money back in to the FTSE100 and this has...
Positive End to the Week for the Pound

Positive End to the Week for the Pound Despite PM and Health Secretary Being...

The pound looks set to end the week above 1.11 against the euro, which is a welcomed boast for the currency which has suffered big losses as the markets reacts to the outbreak and global spread of the Covid19 virus. At the start of the week the pound had fallen to 1.0639 against the euro, taking us back to lows last seen in August 2019. With it quickly becoming evident that the whole world would be hit financially by the spread of the coronavirus....
The Pound Continues Its Fightback

The Pound Continues Its Fightback

The pound has continued its fight back against the euro this morning with GBPEUR exchange rates climbing by 1%. At the start of the week the pound had slumped to multi year lows but over the last 3 trading days we have seen an increase in the pounds value. Some would argue that quite simply the pound has been purchased heavily in recent days due to the currency becoming extremely cheap and that’s the reason for the pound’s recovery. Why Did the Pound Fall Against...
Pound Recovers Against the Euro and Is the Recovery for Sterling Here to Stay?

The Pound Continues to Struggle as Coronavirus Takes Hold

Sterling continues to experience significant daily swings in value – yesterday's trading session against the euro saw interbank levels swing between 1.0779 – 1.1048, a swing of almost 2.5% from high to low. Having benefited in the morning from a spark of investor confidence (on the back of news from the States of a significant aid package being rolled out to prop up the economy), the pound had once again declined by the end of trading. Sterling struggles to maintain attraction to investors as the...
How COVID-19 Is Affecting the Pound

Pound to Euro exchange rate outlook – Will Coronavirus continue to cause volatility for...

The GBPEUR rollercoaster continues with interbank rates fluctuating today between 1.078 and 1.1042. In a more ‘normal’ market, this might be the movement in a week, not just a few hours! The pound to euro exchange rates has been experiencing increased movements at the hands of the Coronavirus, as the currency markets react to the ongoing shifts in sentiment towards the various currencies. Overnight, the pound was dealt a boost by the US announcement of a two trillion US dollar stimulus package to shore up...
The US launch a significant stimulus package to stem the economic impact of the Coronavirus pandemic

The US launch a significant stimulus package to stem the economic impact of the...

The pound has managed to regain some much needed ground versus the US dollar this morning on the announcement from the US that a deal has been agreed on an almost $2trillion dollar support package in an attempt to stem the economic impact as Coronavirus takes hold throughout the US. This is a landmark move for the US and what is expected to be the largest US stimulus measure ever passed, as the legislation is expected to be ratified at speed over the coming days....
Pound to Euro Outlook Are GBPEUR exchange rates likely to fall further?

Why is the Euro still strong against the Pound?

The Pound Euro interbank exchange rate has remained extremely volatile over the course of the trading week so far, with a movement of 1.15% from high to low so far this morning alone. With Central Banks around the world stepping in with facilities to try and prop up faltering stock markets and with many businesses around the world now in lockdown for the foreseeable future it is no great surprise that we are seeing such market movements but I guess the real question for those...
GBP/EUR Outlook: Sterling Claws Back Some of its Losses Against the Euro as the UK Implements a Partial Lock-down

GBP/EUR Outlook: Sterling Claws Back Some of its Losses Against the Euro as the...

We are currently in unprecedented times, this situation has never occurred in modern history and so there is little to draw from as to market reaction. What we can look at is where investors move to in times of global economic uncertainty and unfortunately sterling is not considered to be a safe haven currency. The UK’s imports vastly outweigh our exports and due to this during times of global economic downturn sterling is not the destination of choice. To add to the pounds woes we...
Euro Nears 34-Week Low Following Poor Data as GBP Eyes Up Long-Term Outlook

UK economy could contract by 5.4% this year, says KPMG

KPMG’s latest quarterly economic report has stated that the continued coronavirus epidemic will push the UK into a deep recession. Businesses have already closed their doors and consumers are limiting themselves to the purchase of essential goods only. The report predicts that the UK will suffer a GDP drop of 2.6% this year if the government gets control of the problem in the coming weeks, but if the pandemic stretches over the summer, the UK economy could contract by 5.4% in 2020. “It is...