Pound to euro exchange rate: Sterling ‘pulls back’ with the market ‘rudderless once more’

pound to euro exchange rate sterling pulls back with the market rudderless once more

At the time of writing Bloomberg has the exchange rate at 1 GBP to 1.1258 EUR. Yesterday morning it was at 1 GBP to 1.1225 EUR.

At the time he told Express.co.uk: “Sterling notched fresh six week highs against the common currency yesterday morning, though couldn’t extend gains amid a lack of fresh impetus to give the bulls control.

“A barren calendar awaits today, though the key test remains whether the pair can crack the key 1.1280 resistance level.”

Adam Ma & Steven Colangelo, Western Union Business Solutions commented: “Sterling rose to a fresh 3-week high against the Euro on Thursday as pushed-back expectations of negative interest rates and hopes for a quicker economic recovery in Britain due to its vaccination drive buoyed the currency.

“The pound has gained against the USD and EUR, 1% and 1.5% respectively this week, after Bank of England Governor Andrew Bailey threw a dampener on market expectations for sub-zero rates in Britain. Market pricing for negative interest rates has been pushed back by nearly a month, with such rates now expected in June 2021, compared with May 2021 previously.

“With the uncertainty surrounding the Brexit deal now at the back of their minds, analysts are increasingly focused on Britain’s economic recovery prospects.”

What are the best travel money rates on offer today?

Currency Online Group Travel Money is offering 1.116 EUR to 1 GBP on exchanges over £100.

Fourex Travel money is offering 1.109 EUR to 1 GBP on exchanges over £100.

Want to know more on click here go to tour news source.

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