Mid-market levels for the GBP/EUR pairing are currently fluctuating around the best levels seen since May 2017 and has seen EUR lose approximately 7 cents since the lowest points of this year.

Currency Pair% Change in 1 monthDifference on £200,000
After a selloff last week, the GBPEUR exchange rate has recovered by over 3.5 cents

Will GBP/EUR find stability above 1.17?

As recent Brexit developments suggest an extension to the March 29th deadline could be on the cards, with a 3-month extension until June apparently on the table, questions surround whether the GBP/EUR paring will sustain stability at current levels.

Since many analysts have labelled Sterling as being ‘undervalued’ and with growing political and economic concerns echoing from the Eurozone, there’s reason to believe that there could even be room for further Sterling gains, but with a no-deal exit still a possibly and the EU seemingly adamant there will be no further changes to the current proposed deal, there’s the possibility of movement either way.

Eurozone economic sentiment survey this week

This week, results from the latest ZEW economic sentiment survey will be released on Tuesday and the European Council is scheduled to meet on Wednesday.

The response to these events could be significant and influence EUR market movement, since the ZEW survey will provide qualitative data for approximately 300 economist/analysts and typically provides an insight into the economic sentiment for the eurozone for the for the next 6 months. 

Comments surrounding the meeting on Wednesday will also be closely regarded by investors, particularly following the inflation data released last Friday, which in fact saw a slight drop-off of 0.1% for the core release over the last 12 months for February.

Clients with short-medium term transfer involving Euros, can utilise various contract options available to them in order to help manager market exposure and can contact their account manager here for more information.

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Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.