With the currency markets moving every two seconds, it can be vitally important to be aware of what is driving the currencies in or out of your favour. The table below shows the difference in Euros you would have achieved when buying £200,000 for the high and low points this year to date.

Currency Pair% ChangeDifference on £200,000
GBP/EUR2.07%€4,712.46
Euro falls seen against economic data releases

Would a City of London exodus mean a boost to the Euro's value vs the Pound?

A key figure from within the EU did her part yesterday in terms of hurrying up the Brexit negotiations process.

Catherine McGuinness, who is essentially the political leader of the City of London as Policy Chairlady, yesterday warned that time is running out to prevent a City of London exodus, and that Britain is risking losing thousands of jobs to overseas competition if the Brexit process continues to drag on.

London is home to the global foreign exchange, bonds and fund management operations as well as being home to more banks than any other financial centre.

Since before the Brexit vote there have been warnings that the UK could lose business to the likes of Berlin and especially Paris, and in terms of currency valuations I would expect to see a sharp sell-off in the Pound if it’s publically announced that the UK is due lose out as a direct result of the Brexit. McGuiness mentioned a figure of 15,000 jobs being at risk to some scope to her warnings.

Euro forecasts and key data releases this week

Major Japanese lender, Nomura recently offered their insight into the Euros future value.

They believe the Euro will drop in the weeks to come as the ECB takes another step towards policy normalisation, and that any talk of Quantitative Easing cuts won’t come as a shock to the markets after ECB President Draghi’s recent comments. Feel free to get in touch if you have a Euro currency requirement and would like to discuss these predictions in further detail.

Yesterday’s inflation data met expectations leaving the markets relatively unchanged, although this Thursday’s ECB Monetary Policy Statement could result in Euro exchange rate movement if any particularly bullish or bearish comments are made. This speech will start around 1.30pm on Thursday.

Thank you for reading my Euro currency report, if you have any questions about Euro exchange rates I would be more than happy to discuss them – you can contact me with any queries here.

News

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.