Euro to Pound Exchange Rate Forecast: Sterling Weekly Roundup ? June 1 to June 5

Modified: Monday, 8 June 2015 10:29 BST - Written by Ben Hughes

STORY LINK Euro to Pound Exchange Rate Forecast: Sterling Weekly Roundup ? June 1 to June 5

Euro to Pound Sterling Weekly Exchange Rate Roundup – June 1 to June 5 2015

At the start of the week the Euro weakened against the Pound, US Dollar and other major peers as ongoing concerns over Greece weighed. The Pound Sterling firmed against several major peers as market attention turned to the release of the latest Markit/CIPS Manufacturing PMI data. The report showed that activity in the sector increased to 52.0, just short of forecasts for a figure of 52.5.

On Tuesday, the Euro advanced against the Pound and other major peers as speculation increased that European creditors were close to offering a new deal to Greece. German chancellor Angela Merkel held an unscheduled emergency meeting to discuss the situation. The Euro also found support from German data which showed that unemployment in the nation hit a new record low in May.
The Pound Sterling fell against the Euro to trade in the region of 1.38 as it came under pressure from Monday’s softer than expected UK Manufacturing PMI data and optimism that a deal will be reached between Greece and its creditors. Further losses were restrained by a better-than-forecast UK Construction PMI.

Midweek, the Euro firmed against its major peers as the European Central Bank revised up its inflation forecasts which in turn sent bond yields climbing. Sterling came under pressure early in the session as data showed that house prices rose at their slowest annual rate in nearly two years in May. Also weighing on the Pound was data, which showed that activity in the UK’s dominant service sector expanded at a slower than forecast level. The report raised worries that UK GDP will be weak.

On Thursday, The Euro moved higher after it received a boost from a spike in German bund yields. German bund yields act as benchmarks for European financial markets and higher yields push the euro higher against the dollar. Yields rise as prices fall. The Pound Sterling softened to the 1.36 level as data showed that UK house prices fell in May. A decision by the Bank of England to leave interest rates unchanged offered little support.

As the week came to a close, the Euro advanced against most major peers as data showed that German factory orders increased by 1.4% in April, beating expectations for a 0.5% gain. The change in factory orders for March was revised to a 1.1% rise from a previously estimated 0.9% uptick. The currency was also finding support from a easing in worries over the Greek situation.

British Pound Exchange Rates Today:

The Pound to Australian Dollar exchange rate is -0.45 pct lower with a conversion rate of 1 GBP equals 1.99491 AUD.

The Pound to Canadian Dollar exchange rate today is converting -0.35 per cent lower at 1.89537 GBP/CAD.
The Pound to Swiss Franc conversion rate is -0.33 pct lower at 1.43101 GBP/CHF.
The Pound to Chinese Yuan exchange rate today is converting -0.11 per cent lower at 9.45738 GBP/CNY.
The Pound to Czech Koruna exchange rate is -0.51 pct lower with a conversion rate of 1 GBP equals 37.51368 CZK.
The Pound to Euro exchange rate is -0.49 pct lower with a conversion rate of 1 GBP equals 1.36802 EUR.
The Pound to Hong Kong Dollar exchange rate today is converting -0.16 per cent lower at 11.81413 GBP/HKD.
The Pound to Israeli Sheqel exchange rate converts +0.04 per cent higher at 1 GBP is 5.89720 ILS.
The Pound to Japanese Yen conversion rate is -0.39 pct lower at 190.98790 GBP/JPY.
The Pound to Mexican Peso exchange rate today is converting -0.16 per cent lower at 23.95025 GBP/MXN.
The Pound to Norwegian Krone exchange rate converts -0.48 per cent lower at 1 GBP is 12.10325 NOK.
The Pound to New Zealand Dollar exchange rate is -0.48 pct lower with a conversion rate of 1 GBP equals 2.15673 NZD.
The Pound to Polish Zloty exchange rate converts -0.44 per cent lower at 1 GBP is 5.68981 PLN.
The Pound to Swedish Krona exchange rate is -0.08 pct lower with a conversion rate of 1 GBP equals 12.80371 SEK.
The Pound to Singapore Dollar exchange rate converts +0.02 per cent higher at 1 GBP is 2.07381 SGD.
The Pound to Turkish Lira exchange rate today is converting +0.78 per cent higher at 4.23681 GBP/TRY.
The Pound to US Dollar conversion rate is -0.15 pct lower at 1.52402 GBP/USD.
The Pound to South African Rand exchange rate is -0.44 pct lower with a conversion rate of 1 GBP equals 19.15121 ZAR.

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