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Sterling may have benefited from Italy’s current political situation having clawed back some ground on the euro last week. The collapse of Italy’s ruling coalition paves the way for different scenarios to arise, new elections or extension of the current collation could all affect how the euro recovers.

Italy is due to decide on Monday when to hold a no confidence vote after Deputy Prime Minister Matteo Salvini threatened to bring down Italy’s coalition government. Historically any political uncertainty can cause weakness within a currency so if you are looking to sell euros you may wish to get in contact with your account manager here at FCD for a currency update.

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Germany's poor performance and what it means for Europe

Germany's Gross Domestic Product shrank 0.1% in the second quarter of the year, confirming the poor performance of the Germany economy. Hit by rising Trade fears, the slowdown of Chinese imports and homegrown industrial and economic problems have all attributed to the poor result for Germany. Although the decline in the GDP was expected it does put Germany at a risk of a recession this year and contrasts with the overall eurozone’s 0.2% GDP growth in the three months to June.

Due to the poor GDP figure another round of Monetary easing could be announced at The ECB meeting in September. So look for signs of Euro weakness in the coming weeks.

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News

UK Unemployment Falls

UK Unemployment Falls

Sterling has staged a comeback since lasts week's sell-off with today's unemployemnt data providing further support to GBP rates.

By Amelia Spencer
GBP Rallies Against the Euro and US Dollar

GBP Rallies Against the Euro and US Dollar

The GBPEUR exchange rate closed back above the 1.16 level after a strong Monday and the move gives hope that the recent sell-off of sterling was temporary.

By Steve Eakins
Pound to Euro Exchange Rates Stabalise Around 1.15 Level

Pound to Euro Exchange Rates Stabalise Around 1.15 Level

GBP/EUR did reach as high as 1.18 on bank holiday Monday, but GBP/EUR has since started to stabalise around the 1.15 mark.

By Daniel Johnson
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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.