GBP/EUR Exchange Rate Holds Steady as Investors Await Carney’s Speech
The Pound Euro (GPB/EUR) exchange rate remains muted today, with Sterling currently trading at €1.12, which is up slightly on the opening rate
Today the Governor of the Bank of England (BoE) Mark Carney will be heard by MPs before a House of Commons Treasury select committee, as the latest inflation report is presented.
With discussions focusing on the economic outlook since the release of Theresa May’s Brexit deal, Sterling will be sensitive to any dovish words coming from Carney.
Brexit news will remain the driving force behind the Pound (GBP) today, with any further bad headlines liable to send Sterling lower.
Pound to Euro (GPB/EUR) Exchange Rate Fluctuates amid Warnings from DUP Allies
The Pound Euro (GBP/EUR) exchange rate is calm today despite Brexit news remaining in the driving seat, with fears of no-confidence vote in Prime Minister Theresa May not yet dispelled.
The Democratic Unionist Party (DUP) took aim at the PM, with a fierce reminder that she should “keep her side of the bargain”. The DUP’s Sammy Wilson told BBC Radio 4:
‘[T]onight we took the view that since the Government had broken one of the fundamental agreements that it had with us.
First that it would deliver Brexit for the people of the UK as a whole and secondly that it wouldn’t separate Northern Ireland constitutionally or economically from the UK.’
The Pound Euro (GBP/EUR) pairing is increasingly sensitive to any comments relating to Brexit, and with threats of a no-confidence vote lingering over Theresa May, Sterling looks set to face further volatility during the week ahead.
Euro to Pound (EUR/GPB) Exchange Rate Traders Awaits EU Decision on Italy’s Budget Controversy
Meanwhile, Euro (EUR) demand has been dampened with investors wary ahead of the European Commision’s (EC) report on Italy tomorrow.
The Euro Pound (EUR/GBP) exchange rate is likely to remain stable for the rest of today, with much of the focus being on Wednesday’s EC report.
Vote of No-Confidence Threatens Pound (GBP) Volatility While Euro (EUR) Awaits EC’s Decision on Rome
Brexit remains the primary factor driving Pound Sterling (GBP) this week although today’s inflation report could offer guidance for the Pound depending on Carney’s tone.
Euro (EUR) investors will be awaiting for the EC’s decision on Rome tomorrow, with the single currency likely to drop if there are any disciplinary actions against the Eurozone’s third-largest economy.