The Euro has had a fairly good 24 hours against the Dollar, following on from the Federal Reserve interest rate decision, where new Governor of the Fed Jerome Powell appeared to lower investors expectations on rate hikes throughout the course of 2018, which led to weakness for the USD across the board.
Euro made good gains of over 0.5% against the Dollar following this news.
Against the Pound however, we have seen quite the opposite over the course of this week, with EUR/GBP losing over 2% as the week has progressed. This has mainly been down to news from the U.K rather than poor European data.
Early in the week we had news of a transition period agreed between the EU and U.K, and any positive Brexit news does tend to give Sterling a boost and the Pound also followed up with further positive news as the week progressed, with unemployment having improved and average earnings figures also coming up in line with inflation.
This had been a sticking point for the Bank of England and this may now completely prop the door open for an interest rate hike in the near future, with the BOE meeting due out today anyone with an interest in GBP/EUR exchange rates may wish to keep a keen eye on the exchange rates as the day progresses.
The EU summit is also in full flow today and Brexit will be on the agenda so also be wary of any surprises popping up at any time.
if you have an exchange to make involving Euro against the Pound or Dollar and you would like my assistance both wiuth the timing of your exchange and exchanging at the best rate then you are welcome to get in touch with me directly.
You can email me, Daniel Wright – The creator of this site on firstname.lastname@example.org and I will be more than happy to get in contact with you personally.