The Euro to Pound Sterling Exchange Rate was trading at 0.8610 as of 10:40 am GMT
Prior to today’s hotly anticipated European Central Bank policy meeting and rate decision the Euro advanced.
The common currency posted declines against its safe-haven rival the US Dollar yesterday as investors turned to lower-risk assets in the face of Eurozone uncertainty.
In the past few days concerning political issues have come to the fore in Spain and Italy, the Eurozone’s third and fourth largest economies. Concerns have also been raised regarding the Euro’s present strength and what dangers the current exchange rates could pose to Eurozone trade, while investors have remained cautious in the build up to the ECB rate decision, despite the general expectation that rates will be held at their current level.
These factors have worn on the Euro slightly, but this morning the currency gained on the Japanese Yen as well as the ‘Greenback’ and the majority of its other most traded counterparts.
The Euro was also able to achieve close to a 15-month high against the British Pound, despite UK industrial output rising by more than forecast in December.
Sterling was pushed lower as the data revealed the biggest quarterly fall in industrial production for almost four years and Mark Carney, future Governor of the Bank of England, testified to UK law makers.
The common currency’s advance was aided by Spain selling up to 4.5 billion Euros worth of bonds, but with industry experts expecting the Pound to rise in the hours ahead the Euro could pare these gains.
As it stands the Euro has appreciated by 3.2 per cent so far this year.
Euro Exchange Rates
As of 10:40 am
The Euro to Pound Sterling exchange rate is currently trading in the region of 0.8610
The Euro to US Dollar exchange rate is currently trading in the region of 1.3568
The Euro to Australian Dollar exchange rate is currently trading in the region of 1.3123
The Euro to New Zealand Dollar exchange rate is currently trading in the region of 1.6234
The Euro to Canadian Dollar exchange rate is currently trading in the region of 1.3477
The Euro to Emirati Dirham exchange rate is currently trading in the region of 4.9808
The Euro to Swiss Franc is currently trading in the region of 1.2301
The Euro to Japanese Yen exchange rate is currently trading in the region of 127.1260
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