Unlike yesterday, the Euro to Pound Sterling (EUR/GBP) exchange rate has been on an unremarkable level so far today, with the single currency (EUR) trending in a tight range against the Pound (GBP). Elsewhere, the Euro has fluctuated across the board.
EUR/GBP Exchange Rate News: Rising Car Registrations Fail to Inspire Universal Confidence in Euro Today
The Euro (EUR) has been indecisive in terms of its movement today, with losses of -0.3% against the Australian Dollar (EUR/AUD) and -0.4% against the Indian Rupee (EUR/INR) being countered by gains of 0.3% against the Japanese Yen (EUR/JPY) and the Polish Zloty (EUR/PLN). Against the Pound (EUR/GBP), the common currency has made little notable movement in either direction.
So far today, the Euro has been supported by a rise from 6.2% to 14.3% for new car registrations in February, although this has been offset by Finnish GDP falling on the year in January from 1.9% to 1%.
Pound Sterling (GBP) Soft Overall Today ahead of Crucial Ecostats and Budget Announcement
At the start of the day, the Pound (GBP) has been in a slight downtrend against many of its rivals, with the gravity of upcoming events potentially putting a dampener on any significant investor support.
The most recent news coming out of the UK prior to the afternoon’s major budget announcement has been that there may be radical plans to convert all UK schools into academies, in order to grant self-governance to these new institutions and thereby cut costs to governance both locally and nationally.
The Pound has fallen marginally against the Euro (GBP/EUR) today and made greater losses of -0.4% against the Qatari Rial (GBP/QAR) and -0.7% against the Thai Baht (GBP/THB).
EUR/GBP Exchange Rate Forecast: Glut of UK Data due Shortly, along with Eurozone Construction Results
The next movements in the EUR/GBP pairing are set to be generated by the UK firstly, with that nation’s claims, earnings and unemployment results for January set for release imminently.
Following these optimistically forecast printings will be the Eurozone’s January construction output results, which previously fell on both the month and the year.
The biggest event of the day is set to be the UK Budget Announcement for 2016, which is scheduled to start being announced shortly after noon.
Current EUR, GBP Exchange Rates
The Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7853 and the Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.2736 today.