GBP EUR Hits New Highs with Safe Haven Flows
The GBP EUR exchange rate spiked to new yearly highs on Monday as investors grow fearful over European markets. Europe’s dependence on Russian gas is a key issue and commodity prices also spiked again with gold at $2,000 and Brent crude oil surging above $135 per barrel.
The GBP to EUR has pulled back to trade below the 1.2100 level.
Europe ignores Ukrainian appeal to cut off energy reliance
Europe ignored pleas from Ukrainian president Zelensky to boycott Russian gas and oil as the most effective means...
GBP EUR Near Yearly Highs on Russia Fears
The GBP EUR exchange rate jumped by 0.38% on Wednesday as European gas prices surged by 60%. The Russian move into Ukraine and the subsequent heavy sanctions are starting to take their toll on the commodities markets. In the UK, house prices jumped once again with a 12.6% y-o-y gain beating estimates.
The GBP to EUR was trading at 1.2022 as sterling mounts another charge for the yearly highs.
European gas prices surge once more as tensions grow
The ‘unintended consequences’ of the Russian sanctions are now...
GBP EUR Spikes Higher with Sanctions Chaos
The GBP EUR exchange rate was higher by almost 0.50% on Monday as the financial markets reacted to the latest Russian sanctions. The key was the removal of Russian banks from the SWIFT system- the interbank payment system that underpins the global economy. Russia’s Ruble has taken a hit and the central bank has raised rates to 20% to counteract the move.
The GBP to EUR almost hit the 1.2000 mark to start the week and trades near 1.1950.
Sanctions chaos hits financial market open
Stocks recovered...
GBP EUR Lower as Traders Lower Rate Expectations
The GBP EUR exchange rate was lower last week as the Russian and Ukraine escalation has given the Bank of England (BoE) a headache on rate rises. Inflationary pressures could worsen with $100 oil prices, but the bank may not have much headroom to raise rates if it worsens the economic downturn. Economic data in the week ahead is focused on Germany, with inflation and employment releases due.
The GBP to EUR opens the week at 1.11896 and has support at the 1.1800 level.
Russian and...
GBP EUR Slides on Lower After German Business Data
The GBP EUR exchange rate was lower by -0.65% on Tuesday for the largest drop in 12 days. German business sentiment data came in higher than expected. The euro has not suffered from Vladimir Putin’s decision to recognize the two breakaway regions of Ukraine yesterday. The Russians were also warning Europe of higher gas prices after Germany’s Olaf Scholz halted Nord Stream 2.
The GBP to EUR has struggled at the 1.2000 level all year and now trades at 1.1950.
German Ifo surges but does not...
GBP EUR Hovers at 1.2000 Ahead of German Data
The GBP EUR exchange rate was trading near the 1.2000 level as the market awaits the latest German IFO business sentiment survey data. Last month was the first positive increase in sentiment for six months as the country finally shrugged off virus restrictions.
The GBP to EUR will also have volatility risk from the Russian headlines this week.
Putin set to make a decision on separatist republics
Russian President Vladimir Putin told the Russian Security Council that he would make an imminent decision over whether or not...
GBP EUR Exchange Rate: The Week Ahead February 20th
The GBP EUR exchange rate was higher for a second week as investors continue to bet on further Bank of England interest rate action. Wage pressures in the employment data last week added to the bullish sterling bets, alongside ‘gradual’ rate comments from the ECB Chief. This week’s data will shift to Germany and the Eurozone, while the Russia and Ukraine tensions continue to loom.
The GBP to EUR is near the highs of the year again but will need further catalyst to avoid another...
GBP EUR Exchange Rate: Weekly Review February 19th
The GBP EUR exchange rate was higher for a second week after the pair continued to bounce sharply from ECB repricing. Employment figures for the week saw real wages dropping by 0.8% on the year which is another alarm bell for the BoE. Russian tensions eased from the ‘imminent’ invasion claims and UK retail sales closed the week on Friday.
The GBP v EUR was heading into the weekend with a move towards the 1.2000 level again. The pair would need support above 1.2050 to...
GBP EUR Presses Higher on US Central Bank Comments
The GBP EUR exchange rate was 0.43% higher on Thursday after the US Federal Reserve gave the green light for interest rate increases to tackle inflation. The bank said that rates would have to rise ‘soon’ but also at a ‘faster pace’. Other central banks such as the BoE do not like to be outliers to the Fed and will feel comfortable with more rate hikes.
The GBP to EUR is trading at 1.1992 with UK retail sales ahead this morning.
US Federal Reserve opens the...
GBP EUR Inches Higher After Latest Inflation Data
The GBP EUR exchange rate was 0.06% higher on Wednesday after the UK saw the release of the latest inflation figures. The ONS reported a 30-yr high in prices at 5.5% with items such as clothing and footwear driving the latest highs.
The GBP to EUR is trading at 1.1924 after a recent bounce from 1.1800.
UK inflation hits a thirty year high as cost-of-living squeeze persists
UK inflation was seen increasing to 5.5% in January, the highest in thirty years, amid a cost-of-living squeeze for the...