Pound to Euro Forex Exchange Rate - Forecasting Higher GBP/EUR in 2015

February 2, 2015 - Written by John Cameron

STORY LINK Pound to Euro Forex Exchange Rate - Forecasting Higher GBP/EUR in 2015

Currency News UK Presents Our Pound to Euro Forecast on Exchange Rate Markets

This week’s session gets underway with the pressure still well and truly on the euro (currency:GBP). The primary drag on the single currency at the moment is the ‘Greece Problem’ – a factor which will not be going away for some considerable time and which threatens to trigger a run against the euro during coming months.

Latest Pound Exchange Rates

The Pound to Euro exchange rate today is converting -0.66 per cent lower at 1.32523 GBP/EUR.
The Pound to US Dollar exchange rate converts -0.39 per cent lower at 1 GBP is 1.50260 USD.
The Euro to Pound Sterling conversion rate is +0.67 pct higher at 0.75458 EUR/GBP.
The Euro to US Dollar exchange rate converts +0.28 per cent higher at 1 EUR is 1.13384 USD.
The US Dollar to Euro exchange rate today is converting -0.28 per cent lower at 0.88196 USD/EUR.
The US Dollar to Pound Sterling exchange rate converts +0.39 per cent higher at 1 USD is 0.66552 GBP.

The final stretch of last week’s session brought news of a tense meeting between new Greek Finance Minister Yanis Varoufakis and eurogroup Finance Chief Jeroen Dijsselbloem.

Varoufakis is a central player in the fervently anti-austerity Syriza party, which swept to power in Greece’s general election of a week ago, and he wasted no time in clarifying his party’s position to a disbelieving Dijsselbloem.

Varoufakis was emphatic in his refusal to deal with the EU / ECB / IMF ‘Troika’ which funded the ailing Hellenic state’s multi-billion euro bailout. He also affirmed that he would not countenance an extension of the term of his nation’s bail-out payment.

Dijsselbloem was despairing, stating in response to Varoufakis’ comments that he was opposed to any ‘unilateral moves’. Helena Smith of The Guardian summed up the media’s response to the uneasy standoff, writing that, ‘the battle lines between Greece and its creditors were drawn in Athens as the Greek Finance Minister Yanis Varoufakis announced that the new government would refuse to engage with officials representing the country’s hated ‘troika’ of lenders’.

Strong UK Data Boosts GBP/EUR Exchange Rate

Meanwhile, matters in the UK appear to be on the up-and-up. Friday’s session brought the publication of the latest GfK Consumer Confidence survey of the UK economy and the results suggested that the recent fall in global oil prices is beginning to bring the ‘fell good factor’ back into the domestic economy.

Participants’ perception of the improvement of their economic situation over the past twelve months was up by 4 points and a similar increase was recorded for their expectations for the coming twelve months.

Pound to Euro Exchange Rate Forecast

The Pound Sterling to euro exchange rate had briefly traded down into the 1.2600s GBP EUR during the early stages of last month, but rallied strongly to hit a fresh 7 ½ year peak of 1.3504 during the final week of January trading.

The move added up to GBP EUR’s best week in the markets since January 2009 which saw a strong technical bounce following December 2008’s plunge to a record low for the pair.

Momentum is building for Pound Euro exchange rate and analysts forecast that further gains for the pair appear highly likely during trading this month.

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TAGS: Currency Predictions Euro Forecasts Euro Pound Forecasts Pound Euro Forecasts