- British Pound Euro (GBPEUR) Exchange Rate currently trading at: 1 GBP = 1.2252 EUR (+0.01110, +0.915%)
The pound was able to maintain trading at prices near its 18-month high in trading on Friday as confidence in the UK’s new budget buoys hopes for the future. The Budget is expected to set the UK apart from other debt-laden European countries and revive interest in the pound.
British Pound Euro (GBPEUR) Exchange Rate
The price remained relatively unchanged Monday morning, trading around 1.22 with low trading volume. If the pound can appreciate against the dollar, that will in turn sustain its rally against the Euro. But currency markets are relatively flat after a muted response from the G20. Traders are holding their breath, awaiting more news from the G20.
Today’s other Forex news:
British Pound US Dollar (GBPUSD)
The pound gained steadily against the dollar on Friday after bad reports on the US economy, closing the day Friday over $1.50. First quarter US GDP growth was unexpectedly revised down from 3.0% to 2.7%. In light of this lowering, the Fed may try to keep interest rates low, which will put broad downward pressure on the dollar.
US Dollar Euro (USDEUR)
The Euro had a good week of trading against the dollar, gaining for the third consecutive day to close at a one-week high. While Europe has debt issues, the US has its own economic strength issues, and now that focus is shifting to concerns about the US economic recovery, the dollar is losing ground to the Euro.
We will continue to monitor the British Pound Euro (GBPEUR) exchange rate throughout the day.
