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:

Will the Pound to Euro exchange rate break out of its current range this week?

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

It’s been a quiet start to the year for GBP exchange rates, and through the month of February the Pound to Euro exchange rate has remained within a tight trading range.

GBP/EUR has hovered around the 1.1700 level moving slightly above or below this level, with the upside being 1.1740 which is just below the annual high of 1.1770.

To the downside, there appears to be support for the Pound around the 1.1660 level and the pair have barely moved outside of this 80-pip range over the past month.

Those following the Pound will be aware that interest rate changes and the factors affecting the changes are what’s driving the Pounds value at the moment.

The UK is now officially within a recession but expected to bounce back straight away with strong Retail Sales figures released mid-month underpinning these expectations, so even the news of the UK officially entering recession didn’t weaken the Pound enough to see GBP/EUR break below 1.1660.

This week economic data out of the UK is light. The only events that could offer insight into the UK’s monetary policy moving forward and potentially impact the Pound are the speeches from Bank of England members which take place this week. These will take place on Monday, Tuesday and on Friday.

Perhaps the key economic release this week will be out of the Eurozone as Inflation data for Germany, France and Spain will be released individually on Thursday and then the Harmonized reading for the Eurozone as a whole will be released on Friday. This figure is expected to drop to 2.9% for February Year on Year which a drop from the January reading of 3.3%.

The market expectation is that if the reading come out below the expectation of 2.9%, this would underpin expectations of rate cuts and likely weaken the Euro.

If you have an international payment requirement to make and would like to discuss your plans, you can contact me directly on [email protected] with an outline of your plans. We will be happy to offer insight and competitive exchange rates which may help you save money when making currency exchanges.


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 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 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).

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.