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EUR/GBP Exchange Rate Rangebound as Lockdown Fears Haunt European Markets The Euro to Pound (EUR/GBP) exchange rate held steady today and is currently The Euro to Pound (EUR/GBP) exchange rate held steady today and is currently fluctuating around €0.85.
March 3, 2021 - Written by John Cameron EUR/USD Exchange Rate Rangebound as EU Lockdowns Weigh on Eurozone Economy The Euro to US Dollar (EUR/USD) exchange rate was largely muted today, with the pairing currently fluctuating around $1.20. The Euro has suffered this week owing to largely underwhelming Eurozone economic data. Germany’s retail sales for January tumbled by -4.5, despite forecasts for a more modest contraction of 0.3%. The Federal Statistics Office commented: ‘This decline can be explained by the ongoing coronavirus lockdown, which meant a closure of many retail stores since ...
March 2, 2021 - Written by John Cameron GBP/CAD Exchange Rate Rangebound as UK House Prices Rise in February The Pound to Canadian Dollar (GBP/CAD) exchange rate held steady today as the search for the UK’s missing Brazilian Covid-19 variant is narrowed down to the south-east. The pairing is currently fluctuating around CA$1.76. As a result, Sterling investors are remaining cautious as the Brazilian variant could cause a problem for the effectiveness of the UK’s Covid-19 vaccination further down the line. According to researchers, the original variant was found in Manaus Brazil and can ev...
At the time of writing the pair is currently trading at around $1.7550. Pound (GBP) Muted as Bank of England Holds Interest Rates The Pound was muted against the Canadian Dollar today following on from Thursday’s Bank of England (BoE) February policy decision. As expected, the bank left rates unchanged at 0.1% and lowered its 2021 Q1 growth forecasts. The more upbeat news for investors, however, was the downplaying of potential negative interest rates. Although banks were told to prepare for the possibility of negative rates within six months, the BoE clarified they were not imminent. The...
The Pound to Japanese Yen exchange rate held steady today, with the pairing currently fluctuating around ¥142.000. The Japanese Yen benefited from news that Japan’s economy could recover to levels seen before the Covid-19 pandemic as early as this March. Bank of Japan (BoJ) Governor Haruhiko Kuroda explains: ‘Both fiscal and monetary policies have been successful in preventing corporate failures and unemployment. ‘We expect, probably by the end of fiscal 2021 or early fiscal 2022, that Japan's economy would recover and come back to levels before the pandemic started.’ As a result, J...