GBPEUR

Pound to Euro exchange rates have pushed back over 1.14 ahead of a volatile couple of weeks, with another important vote in British politics approaching. UK Prime Minister Teresa May has written to all MPs within the Conservative Party to try and rally support for her Brexit deal. A meaningful vote will be held in Parliament on the 27th February and if she is unable to find support for the existing Brexit deal then there will be another amendment put forward to be tabled...

Pound to Euro rates have climbed today despite taking a significant drop yesterday ahead of the Parliamentary vote in the House of Commons which took place late yesterday. UK Prime Minister Theresa May suffered another defeat in the House of Commons which was lost by 303 votes to 258. Brexit remains the major driver for Pound to Euro rates and these coming weeks ahead of March 29th are likely to create major volatility for the pair. Although the Government lost the vote last night,...

The pound to euro exchange rate has remained within a thin range this week, as has been the case with the pound against most other major currency pairs. We've seen GBP/EUR spend most of the week either just above or below 1.14. Sterling got off to a weak start this morning with the pair sat just below that benchmark level at the time of writing. The pound wasn't helped yesterday when UK inflation data was released in the form of the Consumer Price Index. The...

With March 29th fast approaching, clients that are looking to buy euros before the UK leaves the EU have a decision to make. The two options they have are to hold off hoping UK Prime Minister Theresa May reaches a deal with the EU and MPs within the House of Commons, or trade now as a 'crash out' no deal Brexit looks more likely. Will Article 50 be extended? Yesterday Theresa May gave MPs an update in regards to the state of the Brexit negotiations and...

Sterling has weathered the afternoon after a key speech by Mark Carney on the global economy. Whilst noting the increasingly risky global conditions as a result of increased global challenges, epitomised by the Brexit and the Trade Wars, Mark Carney was confident in the Bank of England’s preparations. The pound could be in for a very rough ride ahead and Carney highlighted that on the subject of Brexit, ‘this could all go quite badly’. Sterling was marginally weaker going into the talk, testing session lows against...

Sterling exchange rates remained fairly stable against the Euro in trading yesterday, despite a number of weak economic data releases during Monday's trading session. Brexit is weighing on the UK economy Yesterday virtually all UK economic data releases came out worse than expectations. We had GDP (or growth) figures, industrial and manufacturing production, trade balance and the NIESR (National Institute of Economic and Social Research) growth estimates. Every single one of these releases fell short of analysts expectations and this has caused a little concern for...

The Pound to Euro rate experienced quite a volatile day of trading yesterday with the pair trading over a 1 cent difference throughout the day. It was the Bank of England's first interest rate decision of the year yesterday and although the BoE opted not to make any amendments, as was the market expectation, the comments afterwards resulted in a sell-off of GBP exchange rates. What prompted the drop in the Pound's value were the comments from BoE governor Mark Carney. He stated that the...

In today's Pound to Euro forecast I discuss yesterday's news of a slowing European economy, which may start to weight on Euro exchange rates. Italy has now officially fallen back into recession merely 5 years after the last time this happened back in 2013. During this time we saw real economic concerns for those countries named as the PIIGS of Europe, these were Portugal, Italy, Ireland, Greece and Spain. None of these countries are currently performing particularly well either, so we may well see a similar...

Theresa May lacks ammunition in talks Brexit uncertainty continues to weigh down the Pound. The Pound's recent spike against the Euro can be put down to the a brief period when the chances of a no deal scenario were low. Morgan Stanley indicated there was less than a 5% chance of a no deal Brexit situation occurring. The problem Theresa May faces is that a no deal Brexit is her only ammunition in talks with Brussels. If we go back to December, Mrs May delayed the...

It has been a very interesting start to the year so far with the Pound making some gains vs the Euro, hitting its highest level last week since May 2017. However, the Pound has not been able to hold on to these gains as the countdown towards when the UK is due to leave the European Union gets closer and closer. Brexit deadline gets closer and closer We are just over 7 weeks away from the deadline and at the moment things are far from sorted...