Banks in Spain see effective bailout – A victory for the Euro? GBP...

It does indeed look like for the time being we are not going to head through 1.25 and stay up there as banks in Spain were helped out yesterday with up to 100 Billion Euros due to be lent to Madrid. Spanish Prime Minister Mariano Rajoy  has hailed a decision by eurozone finance ministers to help Spain shore up its struggling banks as a victory for the European common currency. "It was the credibility of the euro that won," he told reporters. See the full article here...
Pound to Euro exchange rates: Could we be headed for a no deal Brexit?

Markets Wait for Outcome of Greek Election

GBP/EUR rates are currently fluctuating around the 1.24 level as the markets wait for the next move in Europe, with the focus primarily on Greece and the upcoming government elections. Confidence in the single currency is at an all-time low and if it weren’t for the on-going recession in the UK and our poor growth forecasts, I think 1.30 on GBP/EUR would have been reached comfortably by now. As it stands, both the UK and Europe are still suffering from economic depression and it is difficult...
GBP/EUR exchange rates creep up over the course of the trading week

Eurozone crises chapter ??? – Where will GBPEUR news go

GBPEUR rates took another tumble today as the possibility of a Spanish bailout got greater. This is after another meeting between international finance ministers. The market assumption is that over the next 2 weeks there will be a press conference stating that the Spanish will receive somewhere between €80-€100 billion from the European stability fund. As the likelihood of the bailout gathers pace, going forward I feel the euro will strengthen and we could see rates several cents lower than where they stand now. ...

GBPEUR rates – all eyes on the central banks

As regular readers will know this last few months the euro has been put under more and more pressure which has benefitted many of you who have been looking to buy Euros. However, I personally think there is a real chance of the pressure easing, a view that appears to be becoming more commonplace among market experts. Today, this was backed up by the European Central bank, after they  announced the latest interest rate decision ( which they kept unchanged), they put pressure on...

Euro Defies Expectation Amid Friday Fight Back

The euro continued its recent surge against the pound and at time of writing was hovering around the 1.24 mark, making inroads of over a cent on last week’s trading. This is another example of how quickly the tide can change and proves to all those who were waiting for the ‘inevitability’ of 1.30, that there is no such thing as certainty in the currency markets. The reason for this sharp spike could well of been a reaction to the release of this morning’s UK...

GBPEUR currency rates today

GBPEUR rates have swung wildly over the last 36 hours after a surprising amount of end of month traffic. At the end of the month equity traders need to take margin and re-balance their investments for the next month so there is an inflated amount of money being exchanged which in turn can have a large effect on the strength of currencies.  In May there was an abnormally large difference from the gains and losses on stock markets between Europe and the US. This...

Sterling exchange rates take a significant hit against the Euro this morning.

Sterling exchange rates have significantly weakened over the last couple of days from 1.2550 down to a low of 1.2373. This morning UK manufacturing data showed that activity shrunk at its fastest pace in three years. With the UK economy already under massive stress showing that we are officially in a recession this latest data release has caused the pound to fall against every major currency. What this does for the rates going forward is quite difficult to predict. I would however imagine that the continued bad...

Sterling Euro Latest Forecast – Will the Dollar be the main beneficiary?

The Euro will remain the main talking point for weeks and months to come. Bond markets are showing extreme stress which is usually the first sign of a crisis. The problem is that it this is all unprecedented and I do not believe anyone actually knows what to do. We have elections up and coming in the next few weeks across some of the most noted economies in trouble which could lead to absolutely anything. In fact, last night on the BBC news a 5...

Pound Euro Is still range bound GBP EUR exchange rate forecast

Ireland vote crucial for rates today. Ireland today goes to the vote following a referendum being called on whether  to comply with further cuts to reach targets set by the EU. A warning was given by their prime minister saying that a no vote would treble the cost of  international borrowing to maintain the country’s public services and state  jobs. This could have a large effect on GBPEUR exchange rates over the next 36 hours. For up to date information on this story or any other...

Pound Euro – What if Greece is just the start?

On a relatively quiet week pound exchange rates have remained fairly flat with little movement compared to the the last 6 weeks. However I personally believe it is just the calm before the storm, I think the next few weeks will have some surprising news. Everyone with a currency position should reviews their situation with a specialist asap. From tomorrow onwards all eyes will again return to Greece and Spain with data expected to change exchange rates widely. I think most specialists agree that it...