GBPEUR at Highs but Cautious Ahead of ‘Roadmap’
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.
Source: https://www.poundsterlingforecast.com/2021/02/gbpeur-at-highs-but-cautious-ahead-of-roadmap/
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.
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.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
