Euro to Pound Sterling Exchange Rate Roundup ? April 13 to 17

STORY LINK Euro to Pound Sterling Exchange Rate Roundup ? April 13 to 17

Euro to Pound Sterling Exchange Rate Roundup – April 13 to 17

At the start of the week, the Euro traded steadily against the Pound due to a lack of market moving economic data releases. The Pound Sterling was softer against the Euro at the start of the week and slipped to its lowest level in five years against the US Dollar as concerns over the outcome of the May 7 general election weighed upon sentiment.

On Tuesday, the Euro weakened against its major peers as the European Central Banks (ECB) quantitative easing programme continued to put pressure on the single currency. Continuing uncertainty over Greece’s bailout negotiations and a flare up in violence in eastern Ukraine also weighed. One Ukrainian soldier was killed and six wounded, raising fears that the tentative ceasefire currently in place could break. The Pound Sterling softened following the release of data, which showed that UK inflation narrowly avoided sliding into deflationary territory in March.

The Euro to Australian Dollar exchange rate converts -0.35 per cent lower at 1 EUR is 1.38374 AUD.
The Euro to Swiss Franc exchange rate converts -0.08 per cent lower at 1 EUR is 1.02842 CHF.
The Euro to Pound exchange rate converts -0.05 per cent lower at 1 EUR is 0.72193 GBP.
The Euro to Japanese Yen exchange rate converts -0.07 per cent lower at 1 EUR is 128.41014 JPY.
The Euro to Mexican Peso exchange rate today is converting -0.14 per cent lower at 16.54760 EUR/MXN.
The Euro to Norwegian Krone exchange rate today is converting +0.11 per cent higher at 8.47220 EUR/NOK.
The Euro to US Dollar exchange rate today is converting -0.08 per cent lower at 1.07983 EUR/USD.

Midweek, the Euro weakened against the US Dollar and other major peers as concerns over the Greece situation continued to weigh. Athens is rapidly running out of time to deliver a new reform programme to its creditors in the Eurozone. The European Central Bank also announced its latest interest rate decision. The bank’s policy makers left rates unchanged at 0.05%. The only drama of the day came when a protestor attacked ECB President Mario Draghi at the ECB Press Conference. The female protestor jumped on Draghi’s desk and threw glitter at him and yelled; ‘down with the ECB dictatorship’.

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The Pound Sterling meanwhile was little moved against the Euro and weaker against the US Dollar.

Movement of the currency was muted due to a lack of domestic market moving economic data releases.

The Euro fell further against its peers as worries over Greece increased. Credit rating agency Standard & Poor’s downgraded the indebted nations credit rating and said that Greece is at a substantial risk of a default. The Pound Sterling continued to advance against the Euro on Thursday as domestic data showed that UK house price growth hit a five-month high in March. The data compiled by the Royal Institution of Chartered Surveyors (RICS) showed that the monthly house balance rose to +21 last month.

The Euro is forecast to remain under pressure after the International Monetary Fund said that it would allow Greece to skip its debt repayment. Doubts are also growing that no deal will be reached between Athens and the Eurogroup until mid-May at the earliest.

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