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Weekly Euro to Pound, US Dollar Roundup: Current EUR vs USD & GBP Conversion Rate Predictions

October 26, 2014 - Written by James Fuller

At the start of last week, the Euro (EUR) exchange rate weakened against several major including the Pound Sterling (GBP) peers due to the publication of more disappointing data out of Germany.



euro exchange ratesOn an annual basis, German Producer Price Inflation (PPI) declined by 1% in September, down from the 0.8% fall recorded in August.

The data added to concerns over weak inflation across the Eurozone.

The latest forex conversion rates today:

The Euro to Australian Dollar exchange rate today is converting at 1.44187 EUR/AUD.
The Euro to Canadian Dollar exchange rate converts at 1 EUR is 1.42306 CAD.
The Euro to Pound exchange rate today is converting at 0.78749 EUR/GBP.
The Euro to New Zealand Dollar exchange rate converts at 1 EUR is 1.61298 NZD.
The Euro to US Dollar conversion rate is 1.26703 EUR/USD.

Don't forget if you are waiting to find the best exchange rate for a currency transfer, then you're best bet is to set up your future rate order with a foreign exchange broker!

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Pound vs Euro Rate Pushes Higher

The Pound pushed higher against the Euro and regained ground against other major peers as concerns over the global economy eased slightly on the back of positive US data.

Monday’s session proved to be a quiet one for the currency due to a lack of market moving data releases.

On Tuesday, the Euro regained some ground against a number of peers as positive Chinese data eased fears over the global economy.

The currency then experienced volatility due to resurgence in heavy fighting in Ukraine. European and Russian leaders held talks, which resulted in a stalemate.

The GBP was softer vs the EUR and higher yielding assets on Tuesday as demand for riskier currencies was increased following the release of better than forecast GDP and Industrial Production data out of China.

Midweek the single currency firmed against several peers after regaining some ground from the previous sessions losses. The currency fell as economists speculated on the introduction of a new European Central Bank stimulus programme. It then advanced after ECB governing council member Luc Coene denied the speculation by saying that the bank has no concrete proposals to buy corporate bonds.

The currency softened on Wednesday after the Bank of England minutes showed that there was no change in its policy. The minutes showed that policy makers voted 7-2 in favour of leaving interest rates unchanged at 0.5%. The Pound weakened, as the minutes were more dovish than expected, as policy makers highlighted concerns over the Eurozone and wider economy for their hesitation.

On Thursday, the Pound eased after retail sales data disappointed and as Eurozone PMI data came in positively.

Euro to Dollar Rate Today



On Friday, the Euro gained against the US Dollar (USD), but little moved against the Pound Sterling.

Sentiment on the EUR improved data out of Germany showed that the Gfk German consumer climate index rose to 8.5 in October from 8.4 in September, whose figure was revised up from a previously estimated reading of 8.3.

The figure was better than the 8.0 predicted by economists.

Against the Euro, Sterling was little changed. GDP growth data showed that the UK economy expanded by 0.7% in the third quarter of the year after expanding by 0.9% in the second quarter, matching economist forecasts.

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