Latest 10 news items tagged Pound Euro Exchaneg Rate from our financial blog...
Pound Euro Exchange Rate Dips: EUR Rises as German Factory Data and Eurozone Retail Sales Beat Forecasts
Published: 6 May at 2 PM 2021
The Pound Euro exchange rate fell by -0.3% today after the single currency received a boost from encouraging Eurozone economic data. Today saw the Eurozone’s latest retail sales report for March beat forecasts and rise by 12% month-on-month. This has left the pairing currently trading around €1.15 at the time of writing.
Today also saw German factory orders jump for their third month in a row, as the Eurozone’s powerhouse economy’s manufacturing sector continues to improve.
Analysts at Bloomberg commented:
Pound to Euro (GBP/EUR) Exchange Rate Rises as UK Construction Data Boosts Economic Confidence
Published: 4 Mar at 6 PM 2021
The Pound to Euro exchange rate rose by 0.5% today, with the pairing currently fluctuating around €1.16.
Sterling rose following yesterday’s announcement of the 2021 Budget. Chancellor Rishi Sunak repeated his pledge to do ‘whatever it takes’ to help the UK economy recover from the Covid-19 pandemic.
Additionally, the UK’s Covid-19 infections continue to drop, buoying confidence in the outlook for the economy in the months ahead.
Today also saw promising UK economic data in the form of the latest Construction PMI...
Pound to Euro (GBP/EUR) Exchange Rate Dips as Brexit Fears Weigh on UK Market Optimism
Published: 24 Nov at 4 PM 2020
The Pound to Euro (GBP/EUR) exchange rate fell today after the Bank of England’s (BoE) Governor, Andrew Bailey, commented that Brexit could cause more damage to the British economy than Covid-19.
As a result, GBP investors have become increasingly jittery as UK-EU trade talks have failed to emerge with any certain signs of a post-Brexit trade deal.
Mr Bailey highlighted the difficulties of adjusting to a new trading relationship, saying:
‘It takes a much longer period of time for the real side of the economy to adjust to the...
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 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....
British Pound to Euro Exchange Rate Surges on Hopes for Formal Brexit Delay
Published: 23 Jan at 4 PM 2019
Due to a stream of disappointing Eurozone ecostats published over the past week, the British Pound to Euro (GBP/EUR) exchange rate surged towards the end of Wednesday’s European session on the latest Brexit speculations.
Despite mixed demand for Euro rivals, a weaker economic outlook has left the shared currency without strong support. GBP/EUR surged from 1.1196 to 1.1328 last week on Brexit hopes and have already climbed to trend near a high of 1.1490 at the time of writing this week. This was the best level for GBP/EUR for over two...
British Pound to Euro Exchange Rate Unable to Hold 6-Month-Best on Brexit Uncertainties
Published: 14 Nov at 11 AM 2018
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Despite some broad uncertainties about whether a UK-EU Brexit deal could make it past UK Prime Minister Theresa May’s own government cabinet, let alone all of UK Parliament, the British Pound to Euro (GBP/EUR) exchange rate continues to trend relatively closely to its best...
British Pound to Euro Exchange Rate Tests 6-Month-Best on Speculation of Incoming Brexit Deal
Published: 13 Nov at 5 PM 2018
In what is shaping up to be a pivotal week for the Brexit process, the British Pound to Euro (GBP/EUR) exchange rate has fluctuated in recent sessions as mixed reports give investors a mixed idea of how likely a Brexit deal is to be made in the coming sessions. Brexit focus is only likely to strengthen in the coming days.
Since opening this week at the level of 1.1442, GBP/EUR has trended both lower and higher. GBP/EUR dipped to a weekly low of 1.1401 on Monday, before rebounding and touching on a fresh six month high of 1.1511 on...
British Pound to Euro Exchange Rate Slips as UK Jobs Data Fails to Impress Economists
Published: 12 Jun at 3 PM 2018
Investors briefly perceived Britain’s latest job market results as optimistic, but the British Pound to Euro exchange rate weakened towards the end of Tuesday’s session as investors firmed in the Euro ahead of Thursday’s anticipated European Central Bank (ECB) policy decision. The bank is expected to address the withdrawal of its quantitative easing (QE) program.
Due to easing political jitters in the Eurozone, the Euro saw broadly stronger demand last week and this dragged GBP/EUR down from 1.1445 to 1.1387. GBP/EUR has...