Pound Sterling (GBP) has been bolstered today, having risen to a new high of 1.1% against the Euro (GBP/EUR) this afternoon.
‘Interesting Aspects’ for Referendum Options, says UK Chancellor
The Pound’s (GBP) stratospheric rise against the single currency (EUR) today can be attributed to comments from George Osborne at Davos, where the Chancellor has assured audiences that the Civil Service, Foreign Office and Treasury are ‘100% focused’ on the planning process.
This has widely been interpreted to mean that contingency plans for ‘In’ and ‘Out’ scenarios are well in hand.
Earlier…
The Pound Sterling (GBP) has made a gain of 0.3% against the Euro (GBP/EUR) today, with the déjà vu nature of European Central Bank (ECB) President Mario Draghi’s daily speech wearing heavily on investors.
ECB’s Survey for Eurozone Future due Imminently
The next announcement likely to affect the GBP/EUR pairing will come again from the ECB, with the announcement of the central bank’s Survey of Professional Forecasters. Naturally, optimism will be hoped for, but at present, slow and steady growth will likely be the watchwords of the assembled economists.
Earlier…
The Pound Sterling (GBP) has trended in a narrow range against the Euro (GBP/EUR) this afternoon, with the latter currency having been severely softened by events. Elsewhere, however, the Pound has failed to advance against the usual peers.
Sterling (GBP) Slumps as UK Referendum Pace Shifts Down a Gear
Pound Sterling’s (GBP) losses today can mainly be attributed to comments from Prime Minister David Cameron, who has intimated that he does not see a rapid conclusion to the initial referendum talks by saying: ‘I’m not in a hurry’.
Earlier…
The Pound Sterling to Euro (GBP/EUR) exchange rate has slipped by a moderate amount today with the Pound also falling against a number of its other main currency counterparts.
GBP/EUR Exchange Rate News: Cameron Speech Looms Today, House Prices Creep Up
Pound Sterling (GBP) has been performing fairly poorly overall today, with negative movements being commonplace against most of Sterling’s major peers.
In domestic news, the Royal Institute of Chartered Surveyors (RICS) House Price Balance for December has seen a minor rise from 49% to 50%. Further afield, Prime Minister David Cameron is expected to use his afternoon speech at the World Economic Forum in Davos to urge UK businesses to vote to remain in the European Union in the upcoming referendum.
Among the reasons cited by the PM to remain ‘In’ have been: ‘a more competitive Europe…more trade deals…fewer regulations…[and] a reformed European Union’.
Pound Sterling has fallen by -0.3% against the Euro (GBP/EUR) today and seen a greater loss of -0.4% against the Romanian Leu (GBP/RON); on the positive side, a staggering 3.8% rise has been seen against the Russian Ruble (GBP/RUB).
Euro (EUR) On the Up as Crucial ECB Policy Announcements Approach
The Euro (EUR) has risen across virtually the entire board today, having done so on investor optimism regarding the approaching European Central Bank (ECB) Interest Rate Decision and speech from ECB President Mario Draghi.
Elsewhere in the Eurozone, Spain’s Balance of Trade for November has seen no overall change in the deficit from -€1.9bn, while in France Business Confidence for January has also remained unchanged at 102 points. The Netherlands have put forward a positive December Unemployment Rate change, from 6.7% to 6.6%.
The Euro’s gains today have included 0.3% against the Pound Sterling (EUR/GBP), 0.6% against the South African Rand (EUR/ZAR), 0.7% against the Australian Dollar (EUR/AUD) and 0.9% against the New Zealand Dollar (EUR/NZD).
GBP/EUR Exchange Rate Forecast: Strong Possibility for Euro (EUR) Crashing after Draghi Speech
It is a distinct possibility that the Euro (EUR) will lose its current stable position this afternoon after Draghi’s delivery, given the dubious reputation the policymaker has for devaluing the single currency with relatively little effort.
Current GBP, EUR Exchange Rates
The Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.3023 and the Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7680 today.
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