Read the story here. Advertise at Before It's News here.
Profile image
By Pound Sterling Forecast (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

GBPEUR at Highs but Cautious Ahead of ‘Roadmap’

% of readers think this story is Fact. Add your two cents.

The GBPEUR exchange rate is 0.13% lower in early trading on Thursday after yesterday’s UK inflation figures printed higher than expected. The pair punched through the 1.15 resistance level on Wednesday, but traders are cautious ahead of Boris Johnson’s “roadmap” outline for reopening on Monday.

GBP to EUR is trading at 1.1498 and will likely hover around this level until more clarity is given by Downing Street.

Downing Street Plans a “staged” Opening

Boris Johnson has vowed to free the UK from his latest lockdown in “stages,” which will be based on “data, not dates,” according to the Prime Minister. Johnson suggested that a “cautious, prudent” approach would ensure that the country’s reopening is “irreversible”. As expected, he also hinted that pubs and restaurants will be the last businesses to reopen.

Johnson said: “Last year we opened up hospitality fully as one of the last things we did because there is obviously an extra risk of transmission.”

His cautious and prudent statements saw him accused of “moving the goalposts” on Monday, despite the fact that Downing Street claims 15 million of the population have now received a first dose of the vaccine.

The GBP to EUR exchange rate outlook has seen the pound advance this year after the Brexit risk premium was removed and the country started to see improvements in inflation and GDP. The key driver of sterling has been the pace of vaccinations and Johnson needs to ensure that he doesn’t slow the country’s recovery path on Monday with an over-cautious approach. The exchange rate could see consolidation into that event.

Barnier Warns of French Exit Risk

The EU’s Chief negotiator during Brexit, Michel Barnier, has warned Emmanuel Macron that France could be the next country to leave the bloc.

Barnier said:

“We must take a little time to understand why Brexit happened. In many poor or troubled parts of the UK, the industry has disappeared, and that also happens here. There are fewer public services, the feeling of not being protected. This is a popular feeling that I recommend listening to.”

In his surprising criticism of the EU, Mr Barnier also said Brussels had been ignorant to the rise of Euroscepticism and hinted at a return to politics after being freed from EU duties.

It wouldn’t be a surprise to see Barnier entering the French political race next year in light of Mario Draghi’s move into the Italian Prime Minister role.

Right-leaning candidate Marine Le Pen will be in the frame once more and Macron could face headwinds after two years of yellow vest protests and lockdowns.

You can get in touch to discuss these factors and your upcoming currency exchange by using the form below.

The post GBPEUR at Highs but Cautious Ahead of ‘Roadmap’ appeared first on Pound Sterling Forecast.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Load more ...




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.