Pounds to Euros Exchange Rate Today - GBP EUR Heads Higher AS Greek Debt Discussions Resume, GBP USD Rate At Risk
27 Jan 2012 at 9 AM - Written by David Woodsmith
The Pound Euro exchange rate (GBP EUR) is 1.1981. The Pound Dollar exchange rate (GBP USD) is 1.5705. The Pound Australian Dollar exchange rate (GBP AUD) is 1.4752.
Market participants will be eagerly awaiting news of developments from Greece during today’s session, following last night’s resumption of debt talks between the Greek government and its private sector creditors.
Reports emanating from Athens last night suggested that there had been ‘some progress’ towards reaching an accord between the two parties. The sticking point continues to be the interest rate which Greece will pay to its creditors on the new longer term bonds which it is proposed will replace the existing debt commitments which Greece appears unable to fulfil. The creditors, represented by the Institute of International Finance, are holding out for a 4% yield on the new bills – Greek administrators appears reluctant to demure.
Global equities markets appear to be unimpressed by the rumours of progress from Athens – Tokyo’s Nikkei 225 ended last night’s session slightly down on the day, while UK and European indices have opened up down by over 0.50% on the day today.
The Euro has come under some selling pressure in the last 24 hours, taking the GBP EUR exchange rate to an overnight high of 1.1994. The longer the impasse between the Greek government and the IIF continues, the greater the downside risk for Europe’s single currency.
A continued lack of agreement between the two parties would have the additional effect of causing a dip in global appetite for risk, which in turn would be likely to see the safe-haven US Dollar supported. This could see the GBP USD snap its current run of 11 straight positive sessions and retrace back towards its near-term low of 1.5234.
For other live currency exchange rates and a currency converter see the currency news website.
The Pound Euro exchange rate (GBP EUR) is 1.1981. The Pound Dollar exchange rate (GBP USD) is 1.5705. The Pound Australian Dollar exchange rate (GBP AUD) is 1.4752.
Market participants will be eagerly awaiting news of developments from Greece during today’s session, following last night’s resumption of debt talks between the Greek government and its private sector creditors.
Reports emanating from Athens last night suggested that there had been ‘some progress’ towards reaching an accord between the two parties. The sticking point continues to be the interest rate which Greece will pay to its creditors on the new longer term bonds which it is proposed will replace the existing debt commitments which Greece appears unable to fulfil. The creditors, represented by the Institute of International Finance, are holding out for a 4% yield on the new bills – Greek administrators appears reluctant to demure.
Global equities markets appear to be unimpressed by the rumours of progress from Athens – Tokyo’s Nikkei 225 ended last night’s session slightly down on the day, while UK and European indices have opened up down by over 0.50% on the day today.
The Euro has come under some selling pressure in the last 24 hours, taking the GBP EUR exchange rate to an overnight high of 1.1994. The longer the impasse between the Greek government and the IIF continues, the greater the downside risk for Europe’s single currency.
A continued lack of agreement between the two parties would have the additional effect of causing a dip in global appetite for risk, which in turn would be likely to see the safe-haven US Dollar supported. This could see the GBP USD snap its current run of 11 straight positive sessions and retrace back towards its near-term low of 1.5234.
For other live currency exchange rates and a currency converter see the currency news website.
TAGS: American Dollar Forecasts Daily Currency Updates Dollar Pound Forecasts Euro Forecasts Euro Pound Forecasts Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts
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