Pound Sterling (GBP) has remained at a low of -0.4% against the Euro (GBP/EUR) today, mainly due to no truly positive events occurring to push the Pound’s value up.
Risk of UK Job Losses after ‘Brexit’, According to Key Business Heads
In the latest development on the rocky road to a UK referendum vote, the heads of UK companies such as BT, M&S and Vodafone have all signed an open letter warning that if the UK left the EU, one of the most notable side effects would be a major drop off in outside investment in the UK.
Earlier…
The Pound Sterling to Euro (GBP/EUR) exchange rate has trended narrowly today in one of a number of tentative movements for the UK currency.
GBP/EUR Exchange Rate News: PM’s Anti-Agenda Speech may have Deflated Earlier ‘Boris Bounce’
In the space of 24 hours, Pound Sterling (GBP) has registered exchange rate movement not seen since the last general election. The admission of Boris Johnson into the ‘Out’ referendum campaign was considered by many to be a major blow to the nation’s future, as well as to David Cameron’s tenure as PM. The immediate aftermath saw the Pound dive universally.
Today, however, the UK currency has made something of a comeback, having risen by small amounts against some of its major rivals. A potential cause is yesterday’s delivery in the House of Commons by the PM, who indirectly implied that Johnson’s radical action was merely a ploy to seize control of the Conservative Party after the current PM’s departure.
Pound Sterling movement today has included losses of -0.7% against the Swiss Franc (GBP/CHF) and -1.1% against the Japanese Yen (GBP/JPY), as well as a gain of 0.9% against the Russian Ruble (GBP/RUB).
Euro (EUR) Exchange Rate Fluctuating after German IFO Data
Overall, the Euro (EUR) has been an unappealing option for investors today, as in addition to posting a number of losses the single currency has also only managed to eke out minor advances against the rest of the competition.
This has equated to a positive movement of 0.2% against the Polish Zloty (EUR/PLN) but more negative ones of -0.6% against the Swiss Franc (EUR/CHF) and -1% against the Japanese Yen (EUR/JPY).
The morning’s Eurozone data has consisted of German IFO scores for February, which have fallen for business climate and expectations and only risen slightly for the current assessment.
GBP/EUR Exchange Rate Forecast: BoE Testimony Ongoing, ECB Speech due Later
The Pound (GBP) may experience volatility in the near-future by the ongoing testimony of Bank of England (BoE) policymakers to lawmakers in the Houses of Parliament, while the Euro (EUR) could be affected this afternoon by a speech from the European Central Bank’s (ECB) Daniele Nouy.
Current GBP, EUR Exchange Rates
The Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.2823 and the Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7799 today.