GBP EUR Slumps on European Data and ECB Comments

Pound vs euro forecast: Theresa May confirms meaningful vote will go ahead

The UK Government has confirmed that the meaningful vote will go ahead tomorrow, despite fears that more than 100 MPs could again vote against the Prime Minister’s deal. There had been rumors that Theresa May would replace the meaningful vote with a conditional motion that would outline acceptable terms to deal with the Irish backstop. However, this was fiercely opposed by Remainers who expected that the Prime Minister would lose the support of the House of Commons if she didn’t honour the vote. Tomorrow’s vote will...
GBP EUR Exchange Rate: The Week Ahead August 15th

Pound to Euro Rate Outlook: Will GBPEUR Remain Above 1.20

I wrote recently about the potential for GBPEUR interbank rates to get over 1.20, and lo and behold we have reached that milestone, the first time since December 13th. Sterling has benefitted from some improvements in sentiment, as a change of guard at the Treasury sees confidence over an infrastructure and spending plan that would boost the economy. Sterling made gains too against a weaker Euro, as signs the coronavirus was escalating and having a larger impact on Chinese factories than thought triggered concerns...
Pound to Dollar Rate Pares Losses

GBPEUR Dips as Ministers Stumble Towards Reopening

The GBPEUR exchange rate was trading lower by 0.20% on Tuesday as ministers start to bumble their way towards the planned reopening.
GBP EUR Starts the Week with 1.1800 Test

GBP Unsettled after Mark Carney Comments

The pound is seeing high volatility at present as the markets continue to digest the ongoing political drama surrounding Brexit and what the governor of the Bank of England Mark Carney said today. The Bank of England meeting today highlighted that all 9 members decide to maintain policy with no interest rate cuts as was widely expected. What was most interesting was Mark Carney’s comments about the referendum and his vision that Britain would lose out in economic growth terms if it does come...

UK GDP Figures (Tom Holian)

UK GDP figures will be out at 930am this morning with expectations for growth of 1.5%. Sterling vs Euro exchange rates fell during yesterday's trading to below 1.17 on Inter-bank levels as investors may have priced in a fall already so even if figures are marginally lower than expected we may not see as much Sterling weakness. If however figures come out positive expect a rally on Sterling and we could see a return to 1.18 later this morning so keep a close eye on...
GBP EUR Steady at Highs but Inflation Still a Risk

GBPEUR Seeks a Close Above 1.17 as Week Closes

The GBPEUR rate was trading at 1.17 at lunchtime on Friday after seeing weekly highs at 1.1716 yesterday. The pair is still struggling at this level.
GBP EUR Starts the Week with 1.1800 Test

Pound – Euro exchange rates today following ECB meeting

Sterling – Euro today A busy day for GBP/EUR today as interest rate decisions were released from both the Bank of England and European Central Bank, along with a press conference from head of the ECB Mario Draghi. Neither rate decision really threw up any huge surprises however the press conference over the course of the afternoon did lead to quite a jittery market. Draghi once again reconfirmed his statement from last month that he feels the Euro is irreversible, and this coupled with the news that Spanish...
Pound to Dollar Rate Pares Losses

Pound Sterling Forecast – Mixed Fortunes for Sterling Exchange Rates Reflecting Uncertainty Ahead

The pound has been particularly volatile this week, rising and falling as sentiment on the key topics at present, Brexit and the Coronavirus outlook, continue to shape not just attitudes to the pound, but also other currencies like the Euro and the US dollar. GBPEUR interbank rates have epitomized this volatility, rising and falling between 1.0946 and 1.1109 on the interbank exchange rate. Meanwhile. GBPUSD has also experienced volatility rising and falling between 1.2516 and 1.2766 in the last week. For clients interested in GBPAUD it...
GBP EUR Finds Support After 40-yr German Inflation High

Pound to Euro Exchange Rate – Further Losses Ahead?

Sterling exchange rates have lost a little ground against most major currencies over the course of the trading week, most notably hitting a 5 week low against the Dollar during yesterday’s afternoon trading session. It seems that global sentiment is starting to slip again, and fears of a second wave of COVID-19 along with a major global recession are leading investors to batten down the hatches and take cover which is leading to some Sterling weakness. For those that were following Sterling exchange rates...
Pound to Euro Forecast - Leadership Contest Drives GBP/EUR Rate Lower

UK’s Inflation report hearing could benefit Sterling

Mark Carney faces questions over recent interest rate cut Positive economic data could impact BoE's outlook GBPEUR falls below 1.19 All eyes on the NIESR GDP estimates this afternoon Did Mark Carney cut interest rates too soon? Mark Carney faces some tough questions at his first inflationary report since August. Whilst the bank has been closed since they decided to cut interest rates for the first time in over 7 years, economic data out of the UK has lifted from its post-Brexit gloom. It is likely that some will...