GBPEUR Exchange Rate: The Week Ahead May 16th

GBPEUR Exchange Rate: The Week Ahead May 16th

The GBPEUR exchange rate rallied in the first three days of trading last week but the pair gave up some of those gains after a SAGE warning about the Indian flu virus variant and the potential to halt the June reopening target. The pound was stronger after the election results on Monday as the Tories secured strong gains and the SNP fell short of a clear majority. GDP numbers were also better than expected and boost the growth prospects for the UK. GBPEUR saw its...
GBP to EUR Eyes 1.17 Ahead of German Employment Data

GBPEUR Exchange Rate: Week in Review May 15th

The GBP to EUR exchange rate story this week was a surge in sterling after election results led to an unwind in fear bets. The Tories took some key wins to concentrate their power, including their first ever success in Hartlepool. The Scottish elections also boosted the pound after the SNP secured a fourth term but fell just short of an overall majority. Traders then focused on the prior week’s BoE policy statement, which saw bond buying reduced and UK growth ramped up. The GBP...
GBP to EUR Eyes 1.17 Ahead of German Employment Data

GBPEUR Sees Resistance Near 1.1700 with Variant Talk

The GBPEUR exchange rate was 0.25% lower on Thursday after SAGE said the June reopening could be delayed and markets reacted to the inflation story. Scientists have suggested that the June move could be delayed but will focus on the data. The US saw a strong surge in inflation, and this raises fears for the UK’s own reopening. GBPEUR is trading at 1.1617 as the early week gains begin to fade. June reopening at risk Scientists at the SAGE group have sounded a warning that the June...
GBPEUR Loses 1.16 Level After German Data

GBPEUR Slips as Markets React to Inflation

The GBPEUR exchange rate was 0.17% lower on Thursday as markets woke up to the inflation threat. We’ve noted on this blog that once economies reopen, the threat of rising prices may defy the cosy “transitory” talk form central banks. The US stock market was sharply lower with the Dow Jones Index off 681 points, or almost 2%, and this has weighed on the pound with the FTSE also sharply low this morning by almost 1%. The GBP to EUR has still have a strong week...
GBPEUR: UK and Europe Get a Growth Boost

GBPEUR: UK and Europe Get a Growth Boost

The GBPEUR exchange rate is 0.11% lower at midday on Wednesday after the UK saw better than expected GDP figures, while the EU Commission raised its growth forecast for the European economy. The British pound has bounced back from election jitters to score big gains on the week and will now target the 2021 highs. GBPEUR is trading at 1.1650 and the yearly highs are at 1.18 for sterling versus the euro. UK GDP figures better than expected The UK economy saw the latest update for the...
Pound to Euro Gains After Weaker German Retail Sales

GBPEUR Rallies as GBP Beats Expectations

The GBPEUR exchange rate charged higher this week after traders unwound bearish bets from the English and Scottish elections. The market this morning saw German inflation numbers come in as expected after strong ZEW readings yesterday failed to ignite the euro. The market is finally waking up to the UK growth forecasts and the pound got another boost with UK GDP beating estimates. The GBP to EUR opened the week at 1.15 but has now rallied to 1.1650 after the latest data. German data leads the...
Pound to Dollar Rate Consolidates Gains

Pound to Dollar Rate Consolidates Gains

The pound rallied to its highest level against the dollar since February on Monday, after the prospects of an immediate referendum on Scottish independence dimmed, before edging even higher yesterday – reaching 1.416. The UK currency already had plenty of wind in its sails from last week’s upbeat forecasts for growth and employment from the Bank of England – and the welcome developments north of the border provided it with added impetus. Fading prospects of an independence referendum and hopes for a strong UK economic...
GBPEUR Sees 1.15 in View After Another Slump

GBPEUR: ZEW Sentiment Numbers Help the Euro

The GBPEUR exchange rate is 0.15% lower at midday on Tuesday after ZEW sentiment numbers came in stronger than expected. Lockdown restrictions are easing in Europe and the vaccine programme has picked up which has led to increased business and economic confidence.  The euro is trying to regain some ground after a Monday slump. GBPEUR is trading at 1.1620 after the election results and BoE saw a strong move higher for sterling. German ZEW at 20-year high The German economy was boosted by ZEW economic confidence figures...
GBPEUR Sees a Strong Monday Rally After Elections

GBPEUR Sees a Strong Monday Rally After Elections

The GBPEUR exchange rate was over 100 pips higher to register its best daily performance of the yea on Monday after the UK and Scottish elections faded out and traders stepped back in. Big wins for the Toties strengthened their grasp on power, while the SNP’s win was short of a big majority and any referendum risk is said to be further out into the future. The European and German economies will see ZEW sentiment data today. The GBP to EUR bounced to the 1.1630...
Pound to Dollar Rate Subdued Ahead of Key US Inflation Gauge

Pound to Dollar Rate Jumps to 1.41

The pound to dollar rate was firing on all cylinders yesterday as it rocketed above the 1.41 benchmark for the first time since the last week of February. Fuelling the surge in value was a mixture of fading political risk and growing economic confidence. The pro-independence Scottish National Party won 64 of the 129 parliamentary seats north of the border over the weekend, just one short of an overall majority – causing the pound to breathe a sigh of relief. Despite failing to win a...