GBPEUR

In the shadows over the last month rumors have been emerging that a vote of no confidence against Theresa May was on the horizon and this morning Sir Graham Brady of the 1922 Committee has confirmed that 48 letters have been submitted, which will now lead to a leadership contest. First things first a vote will take place between 6-8pm this evening and the votes will be counted shortly after. The question I will be asked throughout the day is what next and how this...

In today's GBP/EUR forecast we discuss the headline event of this week, the UK Parliament's meaningful vote on Mrs May's Brexit EU Withdrawal Bill, has been postponed. The news saw the pound sharply sold off as traders bet that the uncertainty would persist and there is now an increased likelihood of worse news to come. Sterling to Euro rates hit a 4 month low nudging the 1.10 mark. GBP/EUR opened at 1.1180 before diving to 1.1050 by lunchtime, with a further fall to 1.1011 by...

Today has been a wild day on the markets following news that UK Prime Minister Theresa May had decided to cancel the Parliamentary vote on Brexit. This bought down the value of the Pound and at the time of writing this update Prime Minister May is answering some fairly intense questioning at the House of Commons. The Pound to Euro exchange rate is currently sat at 1.105, a drop from the rate of 1.113 we saw on Friday. Things do not look good for the...

Pound to Euro exchange rates have started the week lower ahead of a crucial parliamentary vote to be held tomorrow (11th December) on whether parliament will accept the Brexit deal so far agreed. Rates for GBP to EUR have now fallen to below 1.1150 after weekend reports suggest that the vote will still go ahead as planned despite a growing consensus that Prime Minister will lose this vote. It is more than likely that Theresa May will be unable to push through her Brexit...

The Pound to Euro forecast is for volatility next week. Pound to Euro exchange rates have been trading in a relatively tight range during the course of this week as the foreign exchange markets appear to be eagerly anticipating what may happen next week when MPs will vote on the current Brexit plan on offer. At the moment it appears as though Therea May does not have the support that she needs to approve this current Brexit deal and I think whatever happens next week...

GBP/EUR rates have remained relatively flat during early morning trading today, with investors' focus fixed on next Tuesday’s key Brexit vote. This is the point when UK MP’s will decide whether or not to approved UK Prime Minister Theresa May’s controversial Brexit deal, which has received wide spread criticism over recent days. It is anticipated that MP’s will vote against the deal initially but the key to how sterling performs over the coming weeks may be linked to the margin of any prospective defeat, if indeed...

The pound has been weaker as we get closer and closer to the Parliamentary vote on the Brexit Withdrawal Bill in the House of Commons next week. Tuesday 11th December could be a very volatile day as the market tries to second guess the possible outcome. I feel sterling has a real propensity to weakness at present and this might mean the pound could have further to fall. GBPEUR levels have now touched below 1.12 in the last 24 hours and it is only really...

Pound to Euro rates has come under further pressure this week ahead of the meaningful vote in Parliament on the 11th of December. Attorney General Geoffrey Cox made a statement in the House of Commons yesterday and made it clear that Britain would not be able to leave the backstop unilaterally. The confirmation in stark black and white only helps to paint a picture that the Brexit deal agreed so far in its current form is unlikely to find enough support in the British...

There's likely to be a busy start to December for GBP/EUR exchange rates as next week's key vote approaches. On Tuesday the 11th December there will be a vote in Parliament regarding UK Prime Minister, Theresa May's Brexit plan and although it's gaining popularity the markets generally expect her to fail to gain the support she needs. In the lead up to next Tuesday's vote there are a number of factors that could influence GBP/EUR exchange rates in the meantime. Starting tomorrow there will be...

GBP has curbed any further losses against EUR during early morning trading, with the pair currently trading close to the high of 1.1249. This morning’s headlines indicate that UK Prime Minister Theresa May has rejected all alternatives to her Brexit deal. This means it is likely that either the current deal will be approved by MP’s on 11th December, or the alternative of a no-deal Brexit will become a very real possibility. Whilst December's vote is not legally binding (in fact a second vote may come...