Pound to Euro Rate Drops into the 1.12’s, hitting a 1-month low
Earlier in the month the GBP to EUR exchange rate was trading around the highest levels of 2023 so far, although since then, we’ve seen the Pound drop off and this morning the pair are trading in the 1.12’s.
The GBP/EUR pair climbed above 1.1450 at one stage, so in the space of just a few weeks there has been a gradual decline for the pair, despite the Pound climbing against some other major currency pairs.
Expectations of further interest rate hikes are now more likely...
GBP exchange rates climb after positive comments from BoE Governor Bailey
GBP exchange rates have begun the day on the front foot after some positive comments from Bank of England Governor Andrew Bailey yesterday evening.
He stated that hiking interest rates again remain a tool at the Bank of England’s disposal to tackle rising inflation.
Last week it emerged that UK inflation levels surprisingly remain above 10%, when markets had forecast a fall below this threshold for the first time since August last year. This pushed GBP exchange rates higher as the chances of additional interest rate...
Will the Pound continue to climb this week, and how could the BoE’s meeting...
The Pound climbed in the lead up the Spring Budget last week and following it, Sterling exchange rates continued to climb as markets seemed impressed by the rhetoric outlined by the Chancellor.
For the first time in just over 3-months, GBP/EUR broke above 1.1400 and managed to consolidate its position above that key threshold. The reason I believe that 1.1400 is a key threshold and the Pound managing to break above and consolidate above this level, is because it had previously been tested on three...
Sterling remains robust despite the IMF downgrading UK growth prospects
The UK is in the financial headlines for the wrong reasons this morning, after the IMF (International Monetary Fund) released a report downgrading the UK’s economic growth prospects.
Of the G7 economies, the UK is the only member whose economy is expected to fall into recession this year. The prediction is for a drop of 0.6% through 2023, which is almost a 1% drop from the previous prediction which was released as recently as October.
The reason for the downgrade is being attributed to increasing interest...
The Pound loses momentum, could next year bring further falls for GBP exchange rates?
GBP exchange rates have cooled during the month of December, with GBP/EUR and GBP/USD both easing from the 3-month highs they begun the month trading at.
There had been a considerable upward momentum for GBP exchange rates after Jeremy Hunt became Chancellor of the Exchequer and reversed the questionable tax cuts made by the previous Chancellor. Rishi Sunak replacing Liz Truss also buoyed the financial markets sentiment towards the UK economy and this helped give the Pound a boost, but perhaps the honeymoon period is...
Red hot week for economic data, as temperatures across the UK plummet
Things have been looking brighter for the pound in recent weeks and the pound finished last week strong, after suffering a near two and a half cent (1.2345 to 1.2106) slide against the greenback (GBP/USD) from Monday to Wednesday. The pound has benefited from an improved ‘risk on’ appetite in recent weeks and responds well to positive news. Cable finished the trading week on the 1.23 handle.
The positive news in question relates to recent comments from US Federal reserve chair Jerome Powell’s comments around...
Sterling remains rangebound, but could tomorrow’s economic data releases cause a spike?
Sterling exchange rates traded within a think range during yesterday’s trading session, with the GBP/EUR exchange rate trading within a range of just half a cent.
Since breaking above the 1.15 threshold the GBP to EUR exchange rate has mostly hovered between 1.1500 and 1.1550 and that’s where the pair are trading at the time of writing.
After quite a volatile month or two, especially in the wake of the Mini-Budget almost two-months ago, the markets seem pretty calm. This may continue throughout the week as...
Will the Pound recover its recent losses against the Euro?
Despite the rate of cable (GBP/USD) climbing as a result of US Dollar weakness, the Pound has been slowing softening against the Euro throughout November so far.
Between the middle to late October the Pound remained a good few cents above its current trading levels against the Euro, and even climbed above 1.1650 at one point offering Sterling sellers a good opportunity to make their GBP/EUR currency exchanges.
The climb in the Pound last month was a surprise as Sterling climbed by almost 10-cents from the...
Will Liz Truss lead the Tories into the next election and how will this...
Despite being appointed as Prime Minister just over a month ago on the 6th of September 2022, Liz Truss is already coming under pressure and there is speculation regarding her remaining in power already.
The Pound has traded in a more speculative fashion over the past month than it has done for years after a disastrous mini budget which sent shockwaves throughout financial markets, and saw the Pound trade against the lowest level against the US Dollar in recent history.
Truss appointed Kwasi Kwarteng as Chancellor...
Will Sterling continue to lose value despite the Bank of England’s efforts?
Sterling exchange rates have begun the week on the back foot despite efforts from the Bank of England to support the currency and the UK economy as whole.
After hitting an all-time low against the US Dollar two weeks ago, and an over 18-month low against the Euro at the same time, the Pound begun a fightback thanks to some backtracking by Chancellor of the Exchequer Kwasi Kwarteng after a disastrous first mini-budget.
Those of our readers hoping for a stronger Pound will also be aware...
