Euro to Pound Sterling (EUR/GBP) Exchange Rate Softens on Greek Vote
If you're looking to make an international money transfer, we recommend TorFX.
The Euro to Pound Sterling exchange rate is currently trending in the region of 0.7828.
Euro (EUR) Exchange Rate Softens on Greek Snap Election
Although the vast majority of industry experts expected a significant Euro declination after it was revealed that Greece face a snap general election, the shared currency has actually held relatively steady against its most traded peers. This is most likely a result of quiet trading during the holiday period. There has been a slight declination, however, as traders question th impact of the vote on the Eurozone.
European data printed reasonably positively on Tuesday, but the data has had minimal impact on Euro movement. Eurozone M3 saw a yearly increase of 3.1%, eclipsing expectations of a rise from 2.5% to 2.6%. On a three-monthly basis, the Eurozone M3 improved upon the median market forecast of a rise from 2.3% to 2.5%, with the actial result reaching 2.7%.
The Euro to Pound Sterling exchange rate has fallen to a low today of 0.7815.
Pound Sterling (GBP) Exchange Rate Trending within Tight Range on Domestic Data
After British economic data met with expectations on Tuesday, the Pound held steady against the majority of its rivals. Monthly Nationwide House Prices met with the median market forecast of a drop from 0.3% to 0.2%. On a yearly basis, Nationwide House Prices met with the market consensus of a drop from 8.5% to 7.2%.
Euro to Pound Sterling (EUR/GBP) Exchange Rate Forecast to Hold Steady
Given the lack of data to provoke changes, and the increasingly quiet currency market, the Euro to Pound Sterling exchange rate is likely to continue trending within a tight range.
The Euro to Pound Sterling exchange rate advanced to a high today 0.7844.