A number of ongoing political issues from within the EU are continuing to affect the single currency, as well as import and export data from Germany both showing a decline in February. This Euro report looks at how these difference factors can impact the Euro. The table below shows the difference in Euros you could have achieved when buying £200,000.00 during the high and low points during trading yesterday.

Currency Pair% ChangeDifference on £200,000
GBPEUR0.25%€580 EUR


EU announce potential MiFID II regulation changes

European Politics – Euro Impact

The Euro continues to face a number of struggles as political changes dictate the direction of Euro exchange rates. The recent election result in Hungary which saw a huge win for Viktor Orban and a fourth term should allow him to make constitutional change having won 133 out of the 199 seats and a supermajority. Strong right wing or nationalist policies are likely to be seen as a result which is likely to prove problematic for the EU and Euro exchange rates.

Spain is still seeking the extradition of Carles Puigdemont on the charges of misuse of public funds, sedition and rebellion but the German courts refused to extradite on rebellion charges. They are instead considering the lesser charge of misuse of funds.

The Catalonia uncertainty also continues after the German courts were unwilling to deport deposed leader Carles Puigdemont having been arrested in Germany last week.

There is still no regional parliament in place following the illegal referendum last autumn which continues to be a small burden on the Euro. At present there is support for Jordi Sanchez to be put forward as the candidate for regional president although he is currently in jail after his attempts for regional independence last year. The Euro is likely to see renewed volatility as the political battle heats up and ultimately when there is another drive for independence for the region.

With no EU economic data today the focus will now move to a speech from ECB President Mario Draghi tomorrow and the ECB Monetary Policy Meeting Accounts on Thursday which will give an overview of the economic performance of the bloc.

For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353 or email me here.

Download our monthly report

Download here


Read more articles
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.