Latest 10 news items tagged Euro Exchange Rate from our financial blog...
Pound to Euro Rises, UK Hopes to 'Turn the Tide' of the Coronavirus in 12-Weeks
Published: 20 Mar at 5 PM 2020
The Pound Euro (GBP/EUR) exchange rate recovered from its 11-month lows against after the Bank of England (BoE) cut its interest rates to an all-time low of 0.1%. The Bank also announced £200bn of money creation to help the UK’s economy throughout the coronavirus pandemic.
Tom Stevenson, an Analyst at Fidelity International, commented ‘Britain is now a whisker away from the negative interest rate club.’
‘Rates have never been this low in the more than 300-year history of the Bank of England. Purchases of government and...
Pound US Dollar (GBP/USD) Plummets to Lowest Level Since 1985
Published: 18 Mar at 5 PM 2020
The Pound US Dollar (GBP/USD) plummeted by over -2% and is currently trading around $1.17, its lowest level since 1985. Traders have flocked to the safe-haven refuge of the US Dollar (USD) today with the ongoing coronavirus crisis threatening to push the global economy into a recession.
Thomas Flury, a Currency Strategist at the Swiss Bank UBS, explains: “The main reason for dollar demand is liquidity concerns: In volatile times, companies and investors need dollars to settle transactions.”
“As long as these concerns persist,...
Pound Euro (GBP/EUR) Exchange Rate Falls as Markets Fear Hung Parliament
Published: 12 Dec at 4 PM 2019
The Pound Sterling Euro (GBP/EUR) exchange rate was volatile, as British voters took to the polls on Thursday, leaving the pairing trading around €1.1819.
Over the course of the week, the Pound has been buoyed by Brexit optimism reaching a two-and-a-half-year high against the single currency.
Overnight, GBP volatility increased to the highest level seen since the 2016 Brexit referendum, and it is likely the Pound will move sharply once the election results are in.
Jitters were sent through the market after a YouGov poll on...
British Pound to Euro Exchange Rate Knocked from 6-Month Best as Markets Digest Election News and Ecostats
Published: 12 Nov at 1 PM 2019
Following a jump in demand for the Pound yesterday, the British Pound to Euro (GBP/EUR) exchange rate has seen more mixed movement today. Investors sold the pair from its best levels overnight, but UK election hopes and mixed Eurozone data have meant that its losses are limited.
As a result, GBP/EUR is on track to have sustained most of the gains seen in recent weeks. Last week saw modest gains for GBP/EUR, as the pair advanced slightly from 1.1583 to 1.1595 throughout the week.
This week’s gains have been more solid so far....
Pound Australian Dollar (GBP/AUD) Exchange Rate Flat as MPs Agree to Pre-Christmas Election
Published: 30 Oct at 1 PM 2019
The Pound Sterling Australian Dollar (GBP/AUD) exchange rate was left muted today, as MPs began preparations for a pre-Christmas election, leaving the pairing trading around AU$1.8795.
Sterling was supported this week on increased hopes the UK will avoid crashing out of the European Union without a deal thanks to a three-month ‘flextension’ granted by EU leaders.
Prime Minister Boris Johnson has said the election will break the current Brexit deadlock that has plagued parliament, preventing the UK from leaving the bloc....
Pound Canadian Dollar (GBP/CAD) Exchange Rate Plummets by -0.9% as No-Deal Brexit Fears Return
Published: 16 Jul at 5 PM 2019
The Pound Canadian Dollar (GBP/CAD) exchange rate dropped by -0.9%, leaving the pairing fluctuating around CA$1.618.
Sterling plummeted against many of its competitors today as no-deal Brexit fears soared following Tory leadership hopefuls Boris Johnson and Foreign Secretary Jeremy Hunt have hardened in their position on the Northern Irish backstop.
Both potential prime ministers commented that the backstop idea was effectively ‘dead’, and would not be included in negotiations with the European Union.
Neale Richmond, the...
Pound Danish Krone (GBP/DKK) Exchange Rate Steadies despite Weak UK Construction Figures
Published: 2 Jul at 5 PM 2019
The Pound Danish Krone (GBP/DKK) exchange rate fell by -0.2% today and is fluctuating around 8.3450kr on the interbank market.
Sterling (GBP) fell against the Danish Krone (DKK) following the publication of the UK construction PMI figures for June, which fell deeper into contraction from 48.6 to 43.1.
Tim Moore, an Associate Director at IHS Markit, was downbeat, saying:
‘The latest survey reveals weakness across the board for the UK construction sector, with house building, commercial work and civil engineering activity all...
Pound Australian (GBP/AUD) Exchange Rate Steadies as Risk-Appetite Returns Ahead of G20 Summit
Published: 27 Jun at 2 PM 2019
The Pound Australian Dollar (GBP/AUD) held steady today as ‘Aussie’ traders have been buoyed with a risk-on attitude ahead of tomorrow’s G20 summit in Japan.
This came following comments from the US Treasury Secretary, Steven Mnuchin, who said yesterday:
‘We were about 90% of the way there [with a deal] and I think there’s a path to complete this.’
As China is Australia’s closest trading partner, optimism over a US-China trade deal has encouraged traders to invest in the risk-correlated ‘Aussie’.
Euro US Dollar Exchange Rate Rises despite German Business Expectations Nearing 5-Year Low
Published: 24 Jun at 4 PM 2019
The Euro US Dollar exchange rate edged higher today and is currently trading around $1.1392 on interbank market.
The Euro rose despite the publication of the German IFO business expectations figures for June, which eased below the forecast 94.5 decrease to 94.2 – a near five-year low.
This has left many single currency traders jittery as the Eurozone’s largest economy shows signs of slowing down.
Analysts at Capital Economics, commented:
‘There are two likely reasons for the deterioration in business expectations....
Euro to Australian Dollar Exchange Rate Hits Best since January on Solid Eurozone Data and RBA Rate Cut Bets
Published: 15 May at 1 PM 2019
The Euro to Australian Dollar (EUR/AUD) exchange rate’s rally has lasted for almost a full month now, and the pair is looking on track to sustain another strong set of gains this week unless tomorrow’s highly anticipated Australian job market report beats market expectations.
Following last week’s climb from 1.5975 to 1.6050, EUR/AUD has seen even stronger gains this week already due to another Australian Dollar selloff. At the time of writing on Wednesday, EUR/AUD was trending close to its weekly high of 1.6199, which was also...