Pound to Euro Exchange Rate with UK Election Heating Up

A week after Greek bailout and already question marks are raised about contagion

Only a week after the Eurozone met to contain the spread of debt throughout the EU and already markets have cause for concern that the Eurozone are going to be able to cope with their Sovereign Debt issues. German Minister Wolfgang Schaube has voiced his opinion (joining Chancellor Merkel) that the Greek bailout was a 'one-off' and that this will not be repeated unless it threatens the financial stability of the zone as a whole. Germany, the largest economy in the EU have generally been...
GBP/EUR exchange rates creep up over the course of the trading week

The BEST GBPEUR rates!

Despite the dramatic events of July taking what I believe could be a turn against the rate many of the gains we saw for the pound remain. Yesterday's GDP figures highlighted that the UK's economic recovery is edging along. 0.2% growth is nothing to ring home about, but it is a sign we are moving along in the right direction. Looking at the huge amounts of global insecurity at present it is encouraging that the UK didn't have a quarter of negative growth as some...
GBPCHF Exchange Rates Reach Highest Levels Since Mid-March

GBPEUR set to fall..??

The month of July has seen some teriffic buying opportunities for Euros. Yes the rate is not as high as it was in 2007, yes the rate has been higher this year, but you have to  look at current levels in the correct context to understand why they are attractive. The reason rates are so low historically is that the economy in the UK (and consequently the pound, since the economic state of the UK to a large extent reflects the value of the pound) is fairing...
GBP to EUR Rate: Pound Sterling in Meltdown, Losses Sustained Against EUR

BofE minutes today – Euro gains

The Euro has gained this morning as the market prices in the chance that QE will be mentioned in the Bank of England minutes. Sterling has lost this morning against most majors and is currently 0.4% against the Euro. If QE is mentioned in the minutes this morning as a likely outcome of upcoming meetings then this is likely to continue to fall rather dramatically. However if mentions of QE are hushed then we could see GBP/EUR rates retrace slightly throughout the day. Looking forward to...
GBP/EUR Exchange Rate: Sterling in Freefall as the UK Announces Further Support Package

Euro Stress Test results tomorrow should set pace for next weeks movements

GBPEUR has experienced tremendous volatility in the month of July and I would expect this to continue with many more data releases and events to sway the markets. Unsuprisingly the debt crisis has a lead role in this feature and a sign of the direction that it could take may be provided tomorrow. The European Banking Authority releases results of European Bank Stress Tests. The idea is to simulate economic turbulence on the markets which could potentially harm the banks and hence the global economy.  Capital reserves will be one of the key...

UK inflation means Sterling retraces gains – Unemployment figures key today

UK inflation, or CPI (Consumer Price Index) was released yesterday and contracted 0.1% MoM. This meant that YoY inflation fell from 4.5% to 4.2%, although this is well above the Bank of England's 2% target inflation was expected to hold steady and this has meant that an interest rate hike in the UK now seems even further off. On top of this there have been numerous different predictions on Q2 GDP figures for the UK, none of which have come in higher than 0.2%...
Pound to Euro Exchange Rate with UK Election Heating Up

GBP/EUR close to a month high this morning

GBP/EUR had a good start for the third day in a row since the interest rate hike last Thursday and pushed very close to a month long high. The Euro is now really coming under strain from the PIIGS of Europe, as Italian Sovereign Debt - one of the 'PIIGS' that has managed to avoid much media spotlight has really come under fire. There is now talk that the European Stability Fund may have to be doubled in order to be able to potentially bailout Italy,...
Pound exchange rates up following positive Brexit news

Interest Rates raised to 1.5% in Europe but priced into market

Jean Claude Trichet and the ECB raised interest rates yesterday to 1.5%. Following Trichet's statement that they needed to take 'strong vigilance' towards inflation after last months meeting speculators had guessed that rates were going to be raised this month and the Euro managed to hold strong despite Sovereign debt. As the raise was 0.25 points, just as the market expected there was no huge reaction from the market and strangely the Euro lost ground against Sterling, before the NIESR (National Institute of Economic ad...

Portugal has its debt rating downgraded to junk – Another chapter in the dismal...

This makes me think that we are not far from the next round of bailouts after Greece is dealt with for a second time. I read a very interesting article on the BBC site that actually discussed how German politicians are pushing through a court case claiming that the bailouts are illegal. It is not just the German public who are disgruntled at being Europe's cash machine, it is also many senior level politicians who resent the way this is heading. And who can blame...

GBP Rates Steady

GBP exchange rates have remained steady this morning following strong gains posted yesterday in what proved to be an extremely volatile day. The pound had a poor start following lower than expected PMI data in the morning leading the GBP/EUR hitting 13 month lows, many had expected this trend to continue following the Bank of England and ECB's interest rate decision. As expected both central banks held base rates at 0.5% and 1.25% respectively, this lead to little movement but the post decision conference...