Pound Euro forecast page 12 - GBP EUR

Euro (EUR) Undermined by Slashed Rate Hike Bets The Euro (EUR) experienced mixed success on Thursday morning in the wake of softer-than-expected inflation reading for May. The annual Harmonised Index of Consumer Prices (HICP) slipped to 6.1% in May, from 7% in April and below expectations of 6.3%. The level reached the lowest rate since...

Pound (GBP) Supported by BoE Rate Hike Expectations The Pound (GBP) found renewed strength against its peers on Tuesday despite a lack of economic data. Last week’s shock inflation reading, with stronger-than-expected headline CPI and stubbornly-high core inflation, further tightening could be inevitable. The market has begun pricing...

Euro (EUR) Undermined by German Recession Meanwhile, the Euro (EUR) slipped on Thursday in the wake of a downwardly revised German GDP growth data. Against a previously expected stagnation in Europe’s largest economy, German GDP shrank by 0.3% in the first quarter. A second consecutive quarter of a shrinking economy marks a technical...

The Pound Euro (GBP/EUR) exchange rate traded narrowly on Tuesday, as the latest set of PMI flashes for the UK disappointed investors. At the time of writing, GBP/EUR traded at around €1.1494, showing little movement from Tuesday’s opening rates. Pound (GBP) Exchange Rates Muted amid Downbeat PMI Data The Pound (GBP) saw...

Pound Euro (GBP/EUR) Exchange Rate Quiet amid Lack of Data The Pound Euro (GBP/EUR) exchange rate traded quietly on Monday, due to a lack of impactful data releases for both sides of the pairing. At the time of writing, GBP/EUR traded at around €1.1507, showing little movement from Monday’s opening rates. Pound (GBP) Quiet...

Pound Euro (GBP/EUR) Exchange Rate Zig-Zags after UK Jobs Data The Pound Euro (GBP/EUR) exchange rate wavered on Tuesday. UK employment data initially saw the pairing fall amid expectations of a pause in policy tightening from the Bank of England (BoE). Unemployment rose unexpectedly whilst wage growth slowed. A...

Pound Euro (GBP/EUR) Exchange Rate Climbs amid Upbeat Market Mood The Pound Euro (GBP/EUR) exchange rate made moderate gains on Monday. A risk-on mood pushed the pairing higher. GBP/EUR saw its gains hindered by bets on additional rate hikes from the European Central Bank (ECB). Additionally, dovish expectations for future action...

Pound (GBP) Rallied as BoE Hikes Cash Rate to Highest Level since 2008 The Pound (GBP) firmed on Thursday as the Bank of England (BoE) continued their battle against inflation as they raised the interest rate to its highest level in 15 years. The central bank met expectations and raised the interest rate for the 12th consecutive time,...

Euro (EUR) Weakens as ECB Refuses to Commit to Further Hikes The Euro (EUR) softened in the wake of the European Central Bank’s (ECB) interest rate decision. The central bank expectedly increased the interest rate by 25bps, marking the seventh consecutive hike, bringing the cash rate to 3.75%. With inflation climbing to 7% in April,...

Pound Euro (GBP/EUR) Exchange Rate Pushed Higher as Eurozone Growth Struggles The Pound Euro (GBP/EUR) exchange rate firmed on Friday. The pairing was buoyed by signs of a slowdown in growth in both Germany and the Eurozone. Upbeat UK business confidence figures and Bank of England (BoE) rate hike bets also pushed GBP/EUR...