EUR/GBP Exchange rate


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Editors’ Picks

EUR/USD loses recovery momentum, retreats below 0.9650

EUR/USD loses recovery momentum, retreats below 0.9650

EUR/USD has lost its recovery momentum near 0.9700 during the European trading hours on Monday and returned below 0.9650. The risk-averse market environment helps the greenback preserve its strength and forces the pair to stay on the backfoot.

EUR/USD News

GBP/USD rises above 1.0800 on BoE chatter

GBP/USD rises above 1.0800 on BoE chatter

GBP/USD has regained its traction and rose above 1.0800 during the European trading hours on Monday. Market chatter about the Bank of England possibly delivering a statement later in the day seems to be helping the British pound find demand.

GBP/USD News

Gold fails to hold above $1,640 as US yields push higher Premium

Gold fails to hold above $1,640 as US yields push higher

Following the selloff witnessed in the early Asian session, gold turned positive on the day near $1,650 but erased its daily gains. The benchmark 10-year US Treasury bond yield is up more than 2% on a daily basis, not allowing XAU/USD to stretch higher.

Gold News

Cardano price could trap impatient investors before triggering an explosive move to $0.505

Cardano price could trap impatient investors before triggering an explosive move to $0.505

Cardano price shows a consolidation below a stable support level and has yet to reveal a directional bias. The ongoing range tightening will likely resolve as the US markets head to a fresh start this week.

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Three stocks that will be in the news this week: Amazon, Nike, Micron Technology

Three stocks that will be in the news this week: Amazon, Nike, Micron Technology

The S&P 500 index lost 4.1% last week and left traders melancholy with another week to go in this dreadful September. The S&P 500 index is down 6.6% so far in the month that is already known for poor performance, and most seem to think the pain will continue. 

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EUR/GBP

The EUR/GBP pair tells the trader how many British Pounds (the quote currency) are needed to purchase one Euro (the base currency). This is one of the most traded currency pairs. Since the European and British economies are massively intertwined (large amounts of capital are exchanged on a daily basis between the United Kingdom and all European countries), the pair tends to be relatively stable but events and news related to the exit of Great Britain of the European Union will probably affect the pair and create choppier movements than usual. A public vote (known as a referendum) was held in June 2016, when 17.4 million people opted for Brexit. This gave the Leave side 52%, compared with 48% for Remain. The UK officially left the EU on 31st of January 2020.


HISTORIC HIGHS AND LOWS FOR EUR/GBP

  • All-time records: Max: 0.98049 on 29/12/2008 - Min: 0.56870 on 01/05/2000
  • Last 5 years:: Max: 0.9324 on 12/08/2019 - Min: 0.69307 on 13/07/2015

* Data as of February 2020


ASSETS THAT INFLUENCE EUR/GBP THE MOST

  • Currencies: USD and YEN.
  • Commodities: Oil and Gold.
  • Bonds: Gilt (debt securities issued by the Bank of England) and Bund (the German word for "bond", a debt security issued by Germany's federal government).
  • Indices: FTSE 100 (share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization), ESTX50 (ESTX50 (Euro Stoxx 50, a stock index of Eurozone stocks designed by STOXX, an index provider owned by Deutsche Börse Group) and DAX (Deutscher Aktienindex, German stock index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange).

ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE EUR/GBP

The organizations and people that affect the most the moves of the EUR/GBP pair are:

  • Bank of England (BoE), known to be one of the most effective central banks in the world. It acts as the government's bank and the lender of last resort. It issues currency and oversees monetary policy (including interest rates). Andrew Bailey is the new Governor of the Bank of England since 16 March 2020. Her Majesty the Queen has approved the appointment. He is widely and deeply respected for his leadership managing the financial crisis, developing the new regulatory frameworks, and supporting financial innovation to better serve UK households and businesses.
  • European Central Bank (ECB) whose main objective is to maintain price stability for the Euro. Headed by Christine Lagarde, the ECB sets and implements the monetary policy for the Eurozone (including interest rates), conducts foreign exchange operations and takes care of the foreign reserves of the European System of Central Banks.
  • London’s City Financial District: This is still the largest and most developed financial market in the world and as a result banking and finance have become strong contributors to the national economic growth.
  • The Prime Minister of Great Britain Liz Truss, serving as Prime Minister of the United Kingdom and Leader of the Conservative Party since September 2022.
  • Angela Merkel, at the head of Germany, the strongest economy of the European Union, is also an important figure for any Euro-related currency cross.

In terms of economic data, as for most currencies, the EUR/GBP traders have to keep an eye on:

  • GDP (Gross Domestic Product), the total market value of all final goods and services produced in a country. It is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing.
  • Inflation measured by key indicators as the CPI (Consumer Price Index) and the PPI (Production Price Index), which reflect changes in purchasing trends.