Euro Pound Exchange Rate Continues

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4 min readMar 14, 2021

Euro Pound Exchange Rate Continues

FX Signals; A dovish tone from the European Central Bank (ECB) made it harder for the Euro Pound (EUR/GBP) exchange rate to mount any notable recovery towards the end of the week. This is despite the Pound (GBP) being weakened by fresh Brexit concerns.

Persisting Euro (EUR) weakness has kept EUR/GBP tumbling in recent weeks. This week, EUR/GBP has once again shed around half a pence,

Since opening this week at the level of 0.8611, EUR/GBP has fallen and briefly touched on a yearly low of 0.8551. At the time of writing on Friday, EUR/GBP is trending in the region of 0.8561, just above those worst levels in over a year.

Next week will see the publication of more key Eurozone data, as well as the Bank of England’s (BoE) March policy decision. The Euro could mount a bigger recovery if upcoming data impresses.

Euro (EUR) Exchange Rates Fail to Find Strong Foothold as Eurozone Outlook Remains Mixed

Investors were hesitant to buy the Euro at the end of the week. With the Euro’s rivals the Pound and US Dollar (USD) seeing bigger movements, the Euro continued to be driven more by rival strength.

Recent Eurozone data and yesterday’s European Central Bank (ECB) policy decision did little to boost the Euro’s appeal.

The ECB actually took a fairly dovish tone in yesterday’s policy decision, announcing a front loaded Pandemic Emergency Purchase Programme (PEPP) that will lead to Eurozone bond purchases ramping up.

The bank also said there was not yet any real chance of inflation rising beyond control in the Eurozone, meaning monetary policy would likely remain ultra loose for a long period of time.

Euro US Dollar (EUR USD) Exchange Rate

The latest ECB news had little impact on the Euro outlook, but did limit the shared currency’s potential to recover against Sterling today.

Pound (GBP) Exchange Rate Rally Slows as Brexit Uncertainties Return

The Pound has been able to hold near its best levels in a year against the Euro, but its bullish movement slowed towards the end of the week.

Forex Signals — Euro to US Dollar

Stronger than expected UK growth data and continued hopes for recovery from the coronavirus pandemic are keeping the Pound broadly appealing. However, today’s data also showed that Brexit is having a bigger impact on UK-EU trade than economists feared.

Euro to Pound Sterling Exchange Rate

Euro Pound (EUR/GBP) Exchange Rate Awaits Bank of England (BoE) Policy Decision

Next week will see the publication of more key Eurozone data.

Euro to Pound (EUR/GBP) Exchange Rate

German and Eurozone economic sentiment data from ZEW is due on Tuesday, with Eurozone inflation following on Wednesday and trade balance data on Thursday.

However, possibly the biggest event of the week will be Thursday’s March policy decision from the Bank of England (BoE).

Euro Pound Exchange Rate Recovers

Euro Pound Exchange Rate Continues

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