The Pound to Euro Exchange Rate is currently trading in the region of 1.1841 as of 11:25 GMT
Yesterday’s surprisingly strong manufacturing report for the 17-nation currency bloc lent the Euro support overnight and the common currency began local trading in a stronger position against several of its main rivals.
The Euro went on to extend gains as the ZEW investor confidence survey climbed for a fifth month, hitting a seven-year high of 62.0 in December following a reading of 54.6 in November.
Economists expected the measure to advance to 55.0
Similarly, the Eurozone’s economic sentiment survey advanced from 60.2 to 68.3 this month.
Meanwhile, the Eurozone’s CPI came in at 0.9 per cent in November, year-on-year, as previously estimated.
The GBP/EUR Exchange Rate hit a low of 1.1815
The German ZEW survey was accompanied by the following statement; ‘With respect to the year 2014, the surveyed financial market experts are quite optimistic. Despite rather disappointing economic data released recently, the financial market experts expect the economic development in Germany and the Eurozone to improve further in 2014. ‘
The GBP/EUR pairing was also knocked by the news that UK inflation slowed to a four year low in November, dipping to 2.1 per cent rather than holding at 2.2 per cent as forecast.
The Euro might have the upper ground today but the EUR/GBP pairing could reverse gains tomorrow if the UK employment reports show the improvement predicted.
While tomorrow’s Eurozone construction output reports will also be of interest investors will largely be focusing on the Federal Open Market Committee’s policy announcement, taking place on Wednesday at 19:30 GMT.
Current Euro (EUR) Exchange Rates
< Lower > Higher
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3770 >
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8447 >
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.5427 >
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6637 <
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7261 <
The Pound Sterling /Euro Exchange Rate is currently in the region of: 1.1841 <
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6485 <
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.6008 >
(Correct as of 11:25 GMT)
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