Mixed performance for the Euro at present
Euro to Pound rate breaches 0.89 following weak UK economic data released yesterday.
Good morning from Euro Fx
Todays rates are,
Euro = 0.870
Stg = 1.1025
For large transactions call us on
The Euro saw a boost against Sterling yesterday owing to the weak Pound, although that pairing doesn’t reflect the Euro’s value in general. The Euro report below looks into Sterling weakness against the Euro, and the latest on comments from Trump during a recent interview about the Chancellor of Germany Angela Merkel. The table below shows the difference in return you could have achieved when selling £200,000.00 during the high and low points of trading during the past month.
The longer-term sell-off of EURUSD saw the pair drop almost as low as the 1.15’s yesterday, which is hard to believe considering the pair hit 1.25 around 6-months ago.
I think it’s important that our clients and regular readers planning on converting Euros are aware of this price change, as watching the EUR/GBP pair exclusively may give Euro sellers a false sense of security.
Stagnant inflation levels and the European Central Banks plans to not amend interest rates for at least another 12-months has been behind the Euros weakness. I’m personally of the opinion that the GBP/EUR rate would be north of 1.25 (south of 0.80 regarding EURGBP) if Brexit wasn’t taking place, putting those changing Euros to Pounds at the current levels in an attractive position.