Pound To Euro Forecast: Best GBP-EUR Exchange Rate Of 2015 Edges Away

Published: 20 Oct 2017 21:24 Currency Markets Forex

pound to euro exchange rate forecast

Today's Pound Sterling to Euro Exchange Rate Forecast and Live GBP-EUR Predictions for 2015/2016

Foreign exchange markets saw the British Pound to Euro exchange rate slump last week after Black Monday hit the Sterling particularly hard.

The GBP-EUR exchange rate slipped on Monday after gathering tensions over China’s apparent slowdown erupted into a full-blown market meltdown.

The British Pound, along with most other currencies, crashed, although the Euro was one of the few risers on the turbulent first day of the mayhem.

This market volatility swiftly pushed the Pound to Euro (GBP/EUR) exchange rate to fresh lows of 1.35.

A quick foreign exchange market summary before we bring you the rest of the report:

On Friday the Pound to British Pound exchange rate (GBP/GBP) converts at 1

At time of writing the pound to pound exchange rate is quoted at 1.

Today finds the pound to swiss franc spot exchange rate priced at 1.138.

At time of writing the pound to us dollar exchange rate is quoted at 1.262.

Please note: the FX rates above, updated 29th Mar 2024, will have a commission applied by your typical high street bank. Currency brokers specialise in these type of foreign currency transactions and can save you up to 5% on international payments compared to the banks.

Pound to Euro Exchange Rate Forecast

The Euro (EUR) exchange rate managed to come out well from last week’s chaos, despite a major drop in value during the middle of the week.

On Monday, the common currency made unexpected bullish gains against all of its rivals, mainly by the virtue of almost every other currency nosediving due to the stock market situation.

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In an almost immediate reversal, the EUR/USD and EUR/GBP exchange rates spent Tuesday through to the end of Thursday in a sharp decline, exacerbated by above-forecast US economic data and speculation that the Federal Reserve would still be raising the US interest rates in September in spite of the pandemonium.

GBP-EUR Outlook Undermined by Fresh EU Optimism

On Friday, the Euro top Pound (EUR-GBP) exchange rate came back out on top due to the status quo being restored. In spite of rising US Dollar, the Euro was able to take the advantage against Sterling due to a restored optimism in the Eurozone.

This came partly from a remembrance of last Friday’s conditions, where Greece had managed to remain within the Eurozone and pay off the most pressing of its many international debts.

Although Former Prime Minister Alexis Tsipras had called an election and resigned as part of that process, hope was still high for the Hellenic Parliament, given that an uncontroversial caretaker government would be appointed in the interim period between actual majority parties anyway.

Bank Holiday Monday means Euro is Forecast to Lead in GBP-EUR Exchange Rate Pairing

The Pound Sterling isn't forecast to rise against the Euro rate today by its own volition, given that tomorrow’s British bank holiday has prevented the release of any UK economic data.

Instead, the Eurozone Inflation Rates will be the deciding factor, and fortunately for the Pound’s prospects, forecasts are for a -0.1% drop in the Eurozone results.

Notable Economic Events Affecting the Coming Forex Forecasts

- 31/08/2015 - Chinese Yuan - Manufacturing PMI

- 31/08/2015 - Australian Dollar - Building Approvals m/m

- 01/09/2015 - AUD - Cash Rate

- AUD - RBA Rate Statement

- 01/09/2015 - British Pound Sterling - Manufacturing PMI

- 01/09/2015 - Canadian Dollar - GDP m/m

- 01/09/2015 - US Dollar - ISM Manufacturing PMI

GBP EUR Update

Tuesday's Pound Sterling to Euro exchange rate was trending in the region of 1.36 ahead of the release of the UK's Manufacturing PMI.

Markit's final manufacturing PMI's for the Eurozone and its largest economies were mixed, with Germany's figure being positively revised but the numbers for France, Italy and the Eurozone as a whole coming in below expected levels.

Italy's unemployment data impressed, however, as did Germany's jobless report.

The Eurozone's unemployment figure is scheduled for release later today.

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