Pound-Euro could remain under pressure if ECB minutes reinforce September rate hike bets, while Sterling lacks fresh domestic catalysts. The Pound to Euro (GBP/EUR) exchange rate trended broadly lower last week as UK economic data failed to build confidence amongst GBP investors.
GBPEUR had a good run in July, hitting 52-week highs above 1.1820. We discuss its outlook and recent struggles for traction above 1.1720.
Pound-Euro could extend its recovery if UK services data confirms renewed growth, although weaker German releases may be needed to unlock a return towards €1.18. The Pound to Euro (GBP/EUR) exchange rate fell to a one-month low last week before recovering after the Bank of England's interest rate decision and renewed reassurance.
Pound-Euro could remain under pressure if the Bank of England maintains a cautious outlook while stronger Eurozone data supports the single currency. The Pound to Euro (GBP/EUR) exchange rate traded in a narrow range on Wednesday near a four-week low as investors awaited Thursday's Bank of England interest rate decision and key.
The Pound-Euro rate could remain rangebound until the Bank of England and Eurozone GDP provide fresh direction later this week. The Pound to Euro (GBP/EUR) exchange rate edged higher on Tuesday after recovering from a three-week low, although a lack of economic data and caution ahead of Thursday's key events limited Sterling's.
The GBP/EUR forex pair has been on the downward trajectory this week and the market could be looking at eventful coming weeks.
The GBP/EUR currency pair has reached a new 52-week high of 1.171. This follows a period of notable strengthening, with the pound increasing by 1.3% in the past month and by 0.3% over the last five trading days.
The Pound to Euro (GBP/EUR) exchange rate briefly dipped to 6-week lows just below 1.15 as UK politician uncertainty intensified, but has recovered to around 1.1550. Elevated UK yields have offered some Pound support and makes it expensive to short Sterling, but economic risks are also a key element.
The Pound to Euro (GBP/EUR) exchange rate came under notable pressure last week and dipped to 6-week lows near 1.1450 before a recovery to near 1.15 amid short covering and a jump in volatility. ING maintains a bearish overall stance on the Pound and forecasts that GBP/EUR will weaken to 1.1240 on a 12-month view.
The Pound to Euro (GBP/EUR) exchange rate briefly dipped to 3-week lows just below 1.1500 early this week before consolidating around 1.1540. Following a series of very poor election results last week, the Pound dipped amid expectations of a challenge to Prime Minister Starmer.
After sliding to 4-week lows below 1.1450 last week, the Pound to Euro (GBP/EUR) exchange rate has rallied to near 1.15 following the announcement of a 2-week cease-fire between the US and Iran. Nomura is still backing a slide to 1.1170 amid a shift in underlying yield spreads away from the Pound.
The Pound to Euro (GBP/EUR) exchange rate tested the 1.1600 area in March, but failed to break through and has dipped to 4-week lows below 1.1450 amid a slide in risk appetite. Energy prices and risk trends have dominated with a jump in UK yields while markets are anxiously waiting for evidence on the economic impact.