Euro to Pound Rate Today: Weekly EUR/GBP Exchange Rate Roundup Feb 2015

February 15, 2015 - Written by Frank Davies

STORY LINK Euro to Pound Rate Today: Weekly EUR/GBP Exchange Rate Roundup Feb 2015

Today's Euro to Pound Sterling (EUR/GBP) Exchange Rate Summary/ Analysis

At the start of last week, the Euro exchange rate firmed against most of its major peers due to the release of strong German trade data.

The nation’s balance of trade posted a surplus of €19 billion, up from the preceding month’s figure of €18.3 billion. The currency then went back onto the retreat however due to the situation in Greece. A ‘Grexit’ is now a matter of time warned several economists.

Pound to Euro Exchange Rate Softens on German Trade

The Pound Sterling softened against the Euro following the release of the stronger than forecast German balance of trade and current account data.

The strong report reduced concerns over the ongoing standoff between Greece and its creditors in the Troika.

A lack of UK data released at the start of the week meant that Sterling was influenced by data releases from elsewhere.

Euro (EUR) Exchange Rate Slips on Minister Comments

On Tuesday, the Euro softened against it major peers after Greece’s Defence Minister suggested that his country could turn to other sources in order to get funding.

He suggested that the USA, China or Russia might provide the funds needed if Germany continues to resist a deal. Better than forecast industrial production data out of France, was widely ignored, as Greece dominated the market’s attention.

Midweek, the Euro firmed against a number of peers and settled into a steady pattern, as economists remained uncertain over whether Greece can reach a compromise deal to extend its bailout programme.

Funding for the nation ends at the end of the month and the country could go bust if no deal is reached.

EUR/GBP Exchange Rate Plummets on BoE Report

The Euro to Pound exchange rate then fell sharply after the Bank of England Inflation report suggested that low inflation and falling oil prices could see the UK economy rally strongly in the middle of the year and lead to an earlier than forecast rise in the nation’s interest rate.

As the week came to an end the single currency advanced strongly against the Pound and other major peers as it received a boost from far stronger than forecast fourth-quarter German GDP data.


The data showed that Europe’s largest economy grew by 0.7% in the final quarter of last year, beating expectations for an increase of 0.3% and was a strong jump from the third quarter figure of 0.1%.

Eurozone GDP data also beat economist expectations.

Looking ahead to next week we can expect to see the Euro hold onto the gains it achieved on Friday as Eurozone balance of trade data is forecast to come in positively.

Euro Exchange Rates Today (Revised 16/02/2015)

The Euro to Australian Dollar conversion rate is -0.48 pct lower at 1.46089 EUR/AUD.
The Euro to Swiss Franc exchange rate is -0.44 pct lower with a conversion rate of 1 EUR equals 1.05753 CHF.
The Euro to Pound exchange rate is -0.17 pct lower with a conversion rate of 1 EUR equals 0.73873 GBP.
The Euro to New Zealand Dollar exchange rate is -0.62 pct lower with a conversion rate of 1 EUR equals 1.51481 NZD.
The Euro to US Dollar exchange rate today is converting -0.46 per cent lower at 1.13456 EUR/USD.

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