Pound to Euro Under Pressure as BoE Consider Stimulus

Pound to Euro Under Pressure as BoE Consider Stimulus

Pound to euro and pound to dollar remain trading at 1.11 and 1.22 respectively but the pound fell to a new 7 week low against the euro during yesterday’s trading as the yield that is returned on UK government debt dropped below 0 percent for the first time ever and expectation for the Bank of England to cut interest rates below zero for the first time in history increased. On Wednesday the Debt Management Office auctioned £3.75 billion of government bonds for maturity in 2023...
Why is the Pound to Euro Rate Falling? Will it Continue?

Why is the Pound to Euro Rate Falling? Will it Continue?

U.K jobless claims were released in early morning trading today, much like many economic data releases the figures were posted at an earlier than usual 07:00, we normally would see a release such as this out at 09:30. The figures, as expected were not particularly great reading for the U.K economy however there was a slight surprise in the fact that the official unemployment rate came in at 3.9% as opposed to the 4.3% which had been expected. This news shows that employment was at a...
Pound to Euro and Pound to US Dollar Touches Fresh Lows

Pound to Euro Rate Falls 1 Percent as Brexit Talks Remain Gridlocked

The pound to euro exchange rate fell more than 1 percent during Friday’s trading, closing the week at 1.1200 against the euro and 1.2112 against the US dollar. GBPEUR saw its worst week in nearly two months as the pound fell nearly 2.5 percent, and GBPUSD saw similar losses. Sterling was the worst performing of the G10 currencies as the pound was hit by fears of Covid 19 and Brexit risks. On Friday, Brexit tensions sent the pound tumbling as the UK and EU remained...
Lack of Brexit Progress Sees Pound to Euro Rate Tumbling

Pound to Euro Exchange Rate – Further Losses Ahead?

Sterling exchange rates have lost a little ground against most major currencies over the course of the trading week, most notably hitting a 5 week low against the Dollar during yesterday’s afternoon trading session. It seems that global sentiment is starting to slip again, and fears of a second wave of COVID-19 along with a major global recession are leading investors to batten down the hatches and take cover which is leading to some Sterling weakness. For those that were following Sterling exchange rates...
Pound to Euro and Pound to US Dollar Touches Fresh Lows

Pound to Euro: Multiple Pressures Send the Value of Pound Lower

The pound fell sharply during yesterday’s trading as multiple pressures built on the UK currency. The pound to euro exchange rate is now trading at 1.1280, and 1.2189 against the US dollar, compared to 1.1460 against the euro and 1.2380 against the US dollar one week ago. Brexit trade negotiation uncertainty, Bank of England policy, and the UK’s slow exit from lockdown have all weighed on the UK currency. The pound had been holding firm but since the Deputy Governor of the Bank of England...
Pound to Euro Exchange Rates: UK GDP Released this Morning

Pound to Euro Exchange Rates: UK GDP Released this Morning

The pound to euro exchange rate has fallen lower with rates falling to a low of 1.1292 for GBPEUR this morning whilst the pound to US dollar exchange rate has also fallen to a low of 1.2250. The pound has found some support following the UK Gross Domestic Product (GDP) numbers released first thing this morning. The data showed the UK economy contracted 2% in the first quarter but there was a noticeable sharp fall in the march numbers as to be expected. The...
Pound Sterling Forecast - Where Next for Sterling?

Pound Sterling Forecast – Where Next for Sterling?

The pound has begun this week in mixed fashion, trading neither particularly higher or lower on the speech delivered by Boris Johnson over the weekend speech which spelled out the path ahead in easing the lockdown restrictions. The currency market has proceeded rather cautiously as so far as we have very little change in the current circumstances and there is still the possibility of a second wave of infections. And it was possibility of a second wave of infections which saw sterling losing ground at...
Pound to US Dollar Extends Recovery Beyond 1.24 as UK Coronavirus Lockdown Eases

Pound to US Dollar Extends Recovery Beyond 1.24 as UK Coronavirus Lockdown Eases

Sterling’s recovery from its Thursday low of 1.2266 saw the GBP to USD exchange rate accelerate beyond 1.2400 during Friday’s trading and at one point reaching beyond 1.2450. The market’s risk-on mood saw investors move away from the safe-haven US dollar, allowing the pound to recover the near 2 percent loss it had made earlier in the week. The pound had incurred a difficult week as coronavirus, negative economic data, and Brexit uncertainty all weighed heavily on the UK currency. However, investors are encouraged by...
Key Week Ahead for Pound to Euro Exchange Rate as Boris Johnson Delivers Coronavirus Speech

Key Week Ahead for Pound to Euro Exchange Rate as Boris Johnson Delivers Coronavirus...

Last week, the pound has ended the trading week slightly down against most major currencies, with interbank levels currently sitting in the 1.14s for GBP/EUR, the 1.23s for GBP/USD, the 1.72s for GBP/CAD and having just slipped into the 1.89s for GBP/AUD to name a few examples. Boris Johnson's to Announce His Lockdown Strategy With the country and financial markets eagerly awaiting Boris Johnson’s lockdown strategy announcements due out this evening, this could pose quite a volatile start to the trading day on Monday. For those...
Pound to Euro Forecast: Does Sterling Have Further to Fall Ahead?

Pound to Euro Forecast: Does Sterling Have Further to Fall Ahead?

The pound endured a bit of a mixed week rising higher and lower against the euro, US dollar and other currencies as sentiment towards the UK continued to be mixed. On the one hand there is the overall uncertainty of the Coronavirus, with the UK clearly one of the worst affected countries with over 200,000 cases and 30,00 deaths, truly awful numbers. However, given this backdrop, there are big steps being taken with the number of tests rapidly increasing and the UK government and central...