In this table you will find high to low GBP/EUR exchange rate movement when exchanging £200,000 to Euros during the last 30 days:

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Inflation for the Eurozone

ECB president Mario Draghi stated last week that he is concerned about inflation and with Eurozone inflation figures due out later today at 10:00am this could cause huge movement for the single currency. The rumours are already rife of an increase to the current amount of Quantitative Easing (QE) at EUR 1.1 trillion. When inflation falls or fails to improve then typically a central bank would look at either cutting interest rates or adding more money into the economy by performing QE.

With the interest rate at just a meagre 0.05% the ECB are likely to be left with little choice but to add more QE if the inflation data out this morning is lower than the expected 0%. This would almost certainly weaken the Euro if the figures are negative creating some excellent opportunities to buy Euros.

Mario Draghi will also be taking centre stage at 10:15am today and with the events of the weekend still in everyone’s mind it will be difficult to focus full attention on the economy but if we place the focus on the economy there are clearly big problems ahead. Eurozone GDP data has shown a fall to 0.3% on Friday, which has kept the single currency very weak and to me it is a matter of time before the ECB intervenes in monetary policy and I think we’ll se this happen at December’s meeting. If Draghi suggests this could happen then expect Euro weakness.

With French tourism making up a big part of the French economy making up 7% of GDP the impact of the attacks are likely to have a negative impact on the value of the Euro.

If you would like more information about Euro exchange rates or transferring money abroad please email me at teh@currencies.co.uk.

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.

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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.