What Next for GBP/EUR Exchange Rates?

GBP/EUR rates have dropped over the past couple of days, following a mixed bag of economic data for the UK. The Pound's momentum was halted on Monday following poor PMI data and it has not yet recovered its position against the EUR. In fact this morning it looked as if the EUR may breach 1.20 for the first time in months but as yet Sterling has found support just above this threshold. Despite some mixed data for the Eurozone also, it is GBP that seems...
GBP/EUR exchange rates creep up over the course of the trading week

Where now for Sterling? (Daniel Charles Johnson)

Sterling has declined considerably against the majority of major currencies. It is at record lows against nearly all. GBP/USD has not been below 1.31 since 1985. The press have mentioned the recovery of the FTSE 100, but the FTSE 350 is a far better barometer and figures are substantially down. Mark Carney, the governor of the Bank of England (BOE) spoke on Thursday following a stability report. He indicated there is the strong possibility of an interest rate cut, which could come as early as...
The Pound Continues Its Fightback

GBP/EUR Spikes to the high 1.16s (Daniel Johnson)

We have seen GBP/EUR hit the high 1.16s this afternoon following positive retail sales data. This is the best opportunity to buy Euros for a considerable time. Considering the uncertainty surrounding the majority of trade negotiations post-Brexit it may be wise to take advantage of current levels. The catalyst for the Spike occurred after Trump's election, Theresa May played the smart move by not lambasting Trump during his campaign. Trump's stance on trade negotiations differs to that of Obama as he is one of...
Euro Suffers Losses to a Strong US Dollar and a Resilient Pound Sterling

GBPEUR set to decline for the next 3 months (Dayle Littlejohn)

On Friday David Cameron managed to negotiate a deal with EU leaders which has got the ball rolling for an ‘in out’ referendum which will be held on the 23rd June. It has been reported if the UK left the European Union, sterling’s value could drop by 20%. In addition rates for buying Euros crashed 8% when we had the Scottish referendum in 2014. For people that need to buy Euros before the 23rd June, today is the day you should start your preparation. The volatility...
Pound to Euro Forecast: BoE News, Brexit and UK Employment

UK GDP Rises by 0.7% (Matthew Vassallo)

GBP/EUR rates have remained fairly flat during Friday morning’s trading, with small gains for the Pound following the release of the latest UK Gross Domestic Product (GDP) figures. The reading of 0.7% growth came out as expected but showed a drop from the 0.9% growth recorded during the previous quarter. The UK recovery has stuttered somewhat over the past month, as highlighted by poor UK Retail Sales figures released yesterday. This added to already growing concerns over the negative knock on effect, being created by...
Brexit vote

New Buoyancy Levels for GBP/EUR. (Daniel Johnson)

Markit Purchasing Manager's Index (PMI) were released yesterday. PMI is a measure of manufacturing activity in a country. We have seen a decline for the first time in April since 2013 which clearly shows the impact the uncertainty regarding the EU referendum. Figures came in at 49.2, down from 50.7. Anything above 50 is considered growth. Construction PMI has just been released coming in at 52 so I would expect a decline in Sterling against the Euro this morning. If you are a Euro seller...
GBP/EUR exchange rates remain in a tight range, Sterling just about winning the week so far

Sterling Still Sliding Despite Strong Services PMI Data For The UK (Colm Gilhooly)

The pound has continued to drop today despite news from Europe being weak, and UK Services PMI coming out much better than expected.  The trend suggest the markets are now very nervous about what the outcome of the Scottish referendum may be.  The narrowing polls earlier in the weak really seem to have encouraged investors holding sterling to sell off.  With the ECB rate decision tomorrow I am expecting this currency pair to be incredibly volatile but anticipate this could be a good opportunity...

Could Proposals from Greece be Accepted by the End of the Week? (Daniel Johnson)

Leaders of the Eurozone have welcomed new proposals for reforms in Greece. It looks as though there may well be a deal in place to stop Greece defaulting in the coming days.Greece are set to pay €1.6bn to the International Monetary Fund (IMF) by the end of the month. If it is not met, Greece may well leave the Euro which could be catastrophic for the single currency.German Chancellor Angela Merkel has stated the Greece’s latest proposal constituted “some progress but time is short”. The...
The Pound Continues Its Fightback

GBP/EUR rates on the move again! (Alistair Ryan)

We have seen continued weakness from Sterling recently against both the euro and dollar. As of late GBP/EUR rates have been trading very close to a 15 month low with GBP/USD rates following the same trend hitting a 7 month low yesterday. There is a lot of pressure being put on Sterling at the moment with a declining UK economy, the chance of a triple dip recession and the possibility of a credit rating downgrade. All of these factors are having a derogatory effect...

Sterling Makes Slight Recovery After Heavy Losses In The Last Few Days (Colm Gilhooly)

Sterling has managed to rally after several days of losses due to weak UK data and fears that the global economy may slide back towards recession.  Yesterday sterling was 4 cents lower versus the Euro compared with a couple of weeks ago.  Very low inflation figures have changed market expectations on UK interest rates in that the Bank of England are not expected to raise rates until Summer 2015. Whilst unemployment has dropped below 2 million in the UK for the first time since 2008,...