GBPEUR rate remains steady as markets await the Autumn Budget

EUR Recovery / GBP/EUR Forecast / Greek Solution?

Monday has seen some positive movement for GBP/EUR, although not enough to erode the recent declines against the single currency. Levels have pushed back up to a high of 1.1844, after starting the day at 1.1780. Markets had reacted positively to news that the Greek bailout package had finally been agreed and subsequently we saw the Euro gainover two cents against Sterling, with the single currency trading at its highest level since November of last year. Whether this was a false dawn or not only time will...
GBPEUR rate remains steady as markets await the Autumn Budget

Quantitative easing weighing on the Pound

GBPEUR rates fell to a 10 week low yesterday as markets began to accept that the Bank of England may have to resort to further phases of Quantitative Easing to boost the UK's ailing economic recovery. Rather than the £50bn injection seen earlier this month being "just" approved it appears that 2 of the MPC's 9 members voted for a larger, £75bn investment, fuelling speculation of further intervention later this year. With recent inflation figures showing a fall to 3.6% and with the Bank of England...

Greek Deal Finalised,Euro push,GBP/EUR Forecast

Greek Deal Finally Pushed Through Last night after marathon talks in Brussels, Eurozone Finance Ministers finally thrashed out a deal that will see Greece receive its second bailout package of 130 billion Euros. Greece will now receive the loan payments but more importantly have approximately 107 billion Euros of the debt written off. In return for this bailout package the Greek government must cut its debt dramatically from 160% to 120.5% of GDP within eight years and accept a permanent EU economic monitoring system, to ensure...

German president resigns amid favours scandal

The Euro weakened this morning following German President, Christian Wulff's, resignation over a scandal over political favours. In his short statement he said it was impossible for him to continue in a role where he was supposed to be "a moral compass for the nation". The last thing Chancellor Merkl needs when she is trying to solve the eurozone financial crisis is internal political turmoil such as this - she has already postponed a trip to Rome where she was due to hold talks with...

Greek Debt Deal Unravelling / GBP/EUR Rates

Greek Debt Deal Thrown Into Doubt After last week’s announcement that the Greek coalition government had come to an agreement over the austerity measure needed to receive it’s next bailout package, hope seemed to be returning to the single currency. A move down towards the 1.17-1.18 region looked inevitable on the back of further poor data released in the UK, including rising unemployment figures. As we should know by now though, the currency markets over the past year have been anything but predictable and it now seems that...

GBP EUR Rates and UK Unemployment

The markets are bracing themselves for some potentially damaging UK unemployment figures this morning (due out in the next 10 minutes).  As a result sterling is currently under pressure and I expect this to continue to be the case as more UK data comes out through the month.  The economy is clearly in a bad way given the recent efforts at Quantitative Easing by the Bank of England (a clear admission that the economy will get worse without assistance) and I would imagine retail...
GBP/EUR exchange rates creep up over the course of the trading week

UK inflation figures / GBP/EUR update / Which way next for the single currency

UK inflation figures were released this morning and we saw a sharp fall in January, down to 3.6% from 4.2% in December. This drop brings CPI (Consumer Price Index) inflation to a 14 month low and whilst the government do expect inflation to continue to fall throughout 2012, the rate remains well above the Bank of England’s 2% target. The release of these figures saw some early morning Sterling strength, as it reached a high of 1.1952 against the Euro. However, this spike was short...

UK outlook changed by credit rating agency – Inflation due this morning!

The UK has had its outlook changed to negative watch rather than stable by Moodys but it has had little impact for the pound against the single currency, partly due to the fact France and Austria are suffering the same treatment, and partly due to the fact we are waiting UK inflation data this morning as well as European production and ZEW surveys.  As such I expect the sterling Euro currency pair to remain volatile- my gut instinct is a better day for sterling today, with the Euro fighting back...
GBP/EUR exchange rates creep up over the course of the trading week

Greece / GBP/EUR rates / BOE announcement

Greece – The Never Ending Story The Euro has seen gains of over half a cent on Sterling today and can be seen as a clear indicator that the markets are expecting a resolution between Greece and its private creditors sooner rather than later. This agreement should lead to a large proportion (potentially up to 50%) of the country’s debt being wiped off and may ultimately be the key factor in keeping Greece in the Eurozone and part of its single currency. The markets belief somewhat goes...

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