Pound Sterling to Euro (GBP/EUR) Exchange Rate Forecast: Sterling Continues Fine Form against Common Currency
The Pound Sterling to Euro (GBP/EUR) exchange rate has risen consistently for the third day today, although the opposite can also be said of the Pound to US Dollar (GBP/USD) pairing.
If you're looking to make an international money transfer, we recommend TorFX.
GBP/EUR Exchange Rate News: Uptrend Continues as Market Meltdown After-Effects Continue to be Felt
The Pound Sterling (GBP) has risen by 0.5% against the Euro (GBP/EUR) today, a further gain in Sterling’s current uptrend against the single currency. This began on Tuesday after global stock markets showed signs of recovery; today has seen little to complain about in stock market performance but despite this apparent return to normality, reactions appear unchanged from two days ago. Despite a strengthening ‘Greenback’ (USD), the Pound has still fared poorly against the commodity currencies, showing losses of over -0.6% against the Australian Dollar (GBP/AUD), the New Zealand Dollar (GBP/NZD) and the Canadian Dollar (GBP/CAD). In addition, a -0.7% drop against the US Dollar (GBP/USD) has been seen.
Greece is likely to return to the fore after the market mayhem fades away; to update, Parliament is expected to be dissolved on Friday ahead of a September 20th election after the three main party leaders failed to form coalitions over this week and the last. Particular lowlights for the Euro today include drops of over -0.9% against the ‘Aussie’ (EUR/AUD), the ‘Loonie’ (EUR/CAD), the ‘Kiwi’ (EUR/NZD) and the ‘Greenback’ (EUR/USD).
Sterling Crashes against Strengthening ‘Buck’ (USD/GBP); US Dollar Remains Weak to Rising Commodity Currencies
The Pound (GBP) has fallen by -0.6% against the US Dollar (GBP/USD) today, also a continuation of a trend that began on Tuesday. The ‘Greenback’ has been buoyed recently by an unexpectedly positive Consumer Confidence score for August and a similarly unpredicted rise in the Durable Goods Orders figure for July. Despite this, losses have still been seen against the commodity currencies today, although not to the extent of the Euro’s drops. Major gains for the US Dollar today included rises of over 0.6% against the Pound Sterling (USD/GBP), the Euro (USD/EUR) and the Polish Zloty (USD/PLN).
GBP/EUR & GBP/USD Exchange Rate Forecast: UK GDP High may Negate USD and EUR Factors
The Pound Sterling (GBP) may expand its current gains against the Euro (GBP/EUR) and reverse the ongoing downtrend against the US Dollar (GBP/USD) tomorrow if the UK Q2 GDP result comes in far above the predicted 2.6% rise.
That said, the German CPIs are also out tomorrow, although these haven’t had tremendously optimistic forecasts. The bigger event is the Jackson Hole Symposium in Wyoming tomorrow, which will be attended by central bank members from across the world, including many Fed members and Bank of England (BoE) Governor Mark Carney. Statements made at the conference have been highly influential in the past, so any comments on the events of this week are sure to excite the appetites of watching speculators.
Current GBP, EUR, USD Exchange Rates
The Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.3704, the Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7299, the Pound Sterling to US Dollar (GBP/USD) exchange rate was trending in the region of 1.5388, the US Dollar to Pound Sterling (USD/GBP) exchange rate was trending in the region of 0.6498, the Euro to US Dollar (EUR/USD) exchange rate was trending in the region of 1.1232 and the US Dollar to Euro (USD/EUR) exchange rate was trending in the region of 0.8905 today.