Euro Exchange Rate News

GBP EUR, GBP USD Exchange Rates Damaged again by Signs of no ‘Brexit’ Amendment for MPs

The Pound has failed to reach 1.12 against the Euro today and has fallen back from 1.24 to 1.23 against the US Dollar, owing to the latest ‘Brexit’ developments out of the UK.

These have come from the Prime Minister herself, who has stated that MPs will not be able to vote on amendments to ‘Brexit’ conditions. This has once again raised the concern that the UK is heading for a ‘Hard Brexit’, which is associated with losing single market access.

(Last updated October 10th, 2016)

The Euro has been in low demand overall, though the single currency’s faring has still been better than the Pound’s. The US Dollar has been the best of the three currencies, having advanced after a caustic confrontation in the US Presidential Election.

GBP News: Pound Remains Softened after Astonishing Crash on Friday

The Pound has failed to really recover against the Euro or US Dollar today, given that present rates are still a far cry from the best rates seen last week.

The biggest UK economic news of late has been that the Pound crashed during Friday’s trading session, owing to as yet unknown circumstances.

The Bank of England (BoE) is said to be investigating the ‘flash crash’, though present theories are that a ‘fat finger’ trade or internal trading system error may be responsible for the significant devaluation of the Pound.

Euro Losses after Fresh Deutsche Bank Concerns, US Dollar Gains on Election Odds

The Euro has mainly seen losses against its peers during trading today, owing to positive German trade balance data being overridden by concerns about Germany’s biggest commercial bank.

Although last week saw fewer stories about the seemingly stricken Deutsche Bank, today has brought renewed fears that US authorities may impose a hefty fine on the organisation.

The US Dollar has been high overall during trading today, thanks to the aftermath of the latest verbal debate between Democrat Hillary Clinton and Republican Donald Trump.

While both candidates were quick to exchange insults, it was generally felt that Trump had failed to put to rest the latest scandal concerning sexist comments made towards women in the mid-2000’s. This in turn raised the odds of a stability-linked Clinton administration triumphing during voting.

Future GBP EUR USD Forecast: BoE Reports, Eurozone Confidence and US Fed Speeches due Shortly

The next domestic data to watch out for will come from the UK, when the afternoon brings the latest Bank of England (BoE) bond buying operation results. Given the Pound’s depleted state, even a complete success isn’t expected to cause much of a rise in Sterling’s value.

Looking further ahead, Tuesday morning will bring German and Eurozone ZEW October economic sentiment indexes, which are forecast to drop for the Eurozone but rise considerably for Germany.

From the US, Fed official Charles Evans is expected to give a speech early in the morning on Tuesday, while during the afternoon, fellow official Esther George also has an appearance scheduled.

Exit mobile version