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...
Euro Suffers Losses to a Strong US Dollar and a Resilient Pound Sterling

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Greek debt issues still making headlines

Greece are in continued talks with it's international lenders over the austerity measures they will have to put in place in order to be granted the next tranche of their international bailout. The Greek finance minister, Evangelos Venizelos, said that the negotiations were "so tough that as soon as one chapter closes another opens" and with German Chancellor Angela Merkel saying that "time is running out on Greece" and 2 of the largest Greek trade unions gong on strike today things are looking pretty bleak. This...
Brexit vote

Greek debt talks drag on / Which way next for GBP/EUR / Euro strength?

Talks between Greece and its private creditors will resume today, after an agreement over the country’s debt restructuring failed to reach a conclusion over the weekend. Fear is growing that Athens has not given enough guarantees, that they can implement the more severe austerity measures needed to receive the next 14.5 billion bailout package and ultimately save the country from bankruptcy. Considering the deadline for Greece to pay its next instalment is mid-March, time is fast running out for the country and their involvement in...
GBP/EUR exchange rates remain in a tight range, Sterling just about winning the week so far

Sterling Euro rate above 1.20 again – what will happen next?

GBP/EUR rates continued to fluctuate yesterday and the battle for supremacy between Sterling and the single currency showed no signs of relenting. We saw some early Euro strength, bringing levels back down below 1.20, before Sterling battled back in the afternoon and looked to be continuing that trend this morning with further gains. Investors are keenly awaiting further economic data from the UK ,which will indicate whether we are likely to be heading back into recession. Further negative growth in Q1 of this year will mean the UK is officially back in...

GBPEUR Forecast – Important Data out today and next week

This morning  09.30 – UK PMI Construction – PMI is ‘Purchasing Managers Index’ – it is a snapshot of the previous month’s economic activity in that sector. It offers the most up to date information for market sentiment and hence is closely watched. Yesterday for Manufacturing it came out better than expected and helped the pound gain close to 1% on the Euro. The current interbank rate is above 1.20 and we have been trading clients at these kind of levels. If you have a...
GBPCHF rates hit near 3-month highs

EU Summit starts the week off for the Euro – Euro Weakness today

This week’s EU summit in Brussels was seen by investors as a key indicator for the growth prospects within the region, with the focus heavily on Greece and a potential deal with its private investors. Greek Prime Minister Lucas Papademos tried to reassure the majority that a deal should be reached by the end of the week but the truth is, as the second day of the summit draws to a close, we are no closer to that deal. This has been reflected in the currency markets, as levels pushed...
Sterling vs Euro Strengthens as German IFOS Disappoint in January

What will move GBPEUR this week?

January was a pretty dire month for the pound against all currencies except the Euro and in the latter part the US dollar. Holding onto many of the gains made over the Festive period, the pound touched 1.2160 at best, crerating some excellent buying opportunities but worrying the many thousands out there selling Euros. As discussed the rate has been quite range bound this month although it has definitely improved for Euro sellers in the last week following a raft of sterling negative data, and signs agreement...

GBP Euro Range Bound Awaiting Results Of Greek Talks

GBP/EUR is fluctuating between 1.19 – 1.20 as investors wait for news on the Greek debt talks and data from the UK that may indicate whether we are heading back into recession. After confirmation of negative growth in Q4 of 2011, there is a strong feeling that the UK may not be able to avoid a double dip recession in 2012 and this would surely have a severe negative affect on the strength of GBP. This data would usually indicate Sterling weakness against the single currency. I do believe we will...
GBPEUR rate remains steady as markets await the Autumn Budget

GBPEUR tests 2012 lows – Will the pound gain on the Euro?

GBPEUR broke the 2012 low today dangerously testing the 1.19 mark. The pound held firm and the rate has since crept up to the mid 1.19's, but anyone who has been holding off on GBPEUR hoping for a 1.20+ rate may really need to start considering whether this will happen. With the rate sitting quite comfortably in the 1.19-1.20 level all week, it looks to me like a tough week of pressures on the pound could now be starting to affect the rate. There is of course the...