The Pound Sterling to Euro (GBP/EUR) exchange rate has risen today although elsewhere the Pound (GBP) has experienced mixed movement, similarly to how the UK CPI figures have come in mixed this morning.
GBP/EUR Exchange Rate News: Varied UK Inflation Results cause Slight Sterling Movement
The Pound Sterling (GBP) has advanced against the Euro (GBP/EUR) and others today, although equally prominent have been its losses against other rivals. The Pound has partially been affected by the UK Inflation Rate figures for October, which have failed to trigger a major shift in either direction due to their inconsistent nature. The Core figure rose against expectations from 1% to 1.1%, while the annual result stayed at -0.1% in line with forecasts. For the base monthly figure, a rise from -0.1% to 0.1% was recorded.
The Pound Sterling has fallen by -0.2% against the Turkish Lira (GBP/TRY) and the Canadian Dollar (GBP/CAD) and -0.3% against the Norwegian Krone (GBP/NOK) today, but has seen rises of more than 0.2% against the Euro (GBP/EUR), the Czech Koruna (GBP/CZK) and the Hungarian Forint (GBP/HUF).
EUR/GBP Exchange Rate Remains Down Today as Investor Caution Continues
The Euro (EUR) has trended narrowly in a negative range against the Pound Sterling (EUR/GBP) today and has otherwise declined against all of the competition. The single currency’s performance has been a repeat of yesterday’s timidity, which came as a result of investor wariness over the short-term effects that would be had on the French tourism and retail sectors. The day’s only notable domestic Eurozone data has indicated a slowdown, with the New Car Registrations for October reducing from 9.8% to 2.9%.
The Euro has declined by -0.3% against the US Dollar (EUR/USD) and the Japanese Yen (EUR/JPY) today, with a greater loss of -0.4% against the Canadian Dollar (EUR/CAD) also being seen.
GBP/EUR Exchange Rate Forecast: Eurozone ZEW Surveys scheduled for Release Imminently
The next Pound Sterling to Euro (GBP/EUR) exchange rate related releases will come from the Eurozone, with the November ZEW Surveys of Economic Sentiment and Current Situation analysis for Germany and the Eurozone due for release in the near-future.
At the time of writing, a stagnation at 55.2 had been forecast for the German Situation result, while a large rise from 1.9 points to 6 points was scheduled for the German Economic Sentiment outcome. No predictions had been made for the Eurozone figure.
Current GBP, EUR Exchange Rates
The Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.4237 and the Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7024 today.