The Euro has tumbled against the Pound and has weakened against several of its most traded peers after the Bank of England voted unanimously to maintain the Central Bank’s interest rate and quantitative easing policy.
EUR/GBP suffered big losses whilst Sterling soared upwards as it benefited from UK data that came in far better than expected. The Bank of England minutes also showed that new governor Mark Carney has stamped his authority over the institution after policy makers voted unanimously on the rate and QE issues.
“An expansion of the asset purchase programme remained one means of injecting stimulus, but the committee would be investigating other options during the month, and it was therefore sensible not to initiate an expansion at this meeting,” said those policymakers who would otherwise have backed more asset purchases.
Better-than-expected Jobs data also boosted the UK currency after unemployment fell by 57,000 to 2.51 million in the three months leading to May. According to the office for National Statistics the country’s unemployment rate held steady at 7.8%. The number of people claiming job seekers allowance in June also declined, falling by 21,000 to 1.48 million it’s fastest fall in three years.
Current Euro (EUR) Exchange Rates
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3141
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8654
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4279
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6735
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7602
The Pound Sterling /Euro Exchange Rate is currently in the region of: 1.1562
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6998
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.5973
(Correct as of 10:35 am GMT)