Jim Makos
Business Currency Updates

Sterling’s rally loses steam as Euro fights back

As the dust from the German election still settles, Euro is fighting back amid political tension rising in Europe. With a controversial referendum having just taken place in the Catalonia region, Spain last Sunday, Euro is looking for stability, while ecodata hasn’t proved that favourable for the Eurozone currency as of lately. Yet, Sterling has...

Jim Makos
Business Currency Updates

Sterling’s upside against Euro pauses

Following the most impressive five days of trading in 2017 for the Sterling Euro exchange rate, last week’s action was anemic. Sterling’s upside, which led the British currency to gain about 4 cents against the Euro during a single week, paused and failed to climb above 1.14 as we predicted in the most recent analysis....

Jim Makos
Business Currency Updates

Euro to two-year high as Sterling’s freefall bottoms

North Korea tension and Brexit negotiations’ third round ending in stalemate last week made investors seek safer-havens such as Euro versus Sterling. As a result, Euro surpassed the resistance at 1.20 against the US dollar at the start of the week, whilst Sterling bottomed at an 8-year low against the Euro. However, GBP traders welcome...

Jim Makos
Business Currency Updates

Brexit and grim growth outlook push Sterling to new lows

Sterling hit new eight-year lows against the Euro on Friday, falling lower than last October’s ‘flash crash’ lows. Powered by dismal growth outlook, slowing UK economy and Brexit uncertainty, GBPEUR’s four-month decline accelerated last week, while Euro resumed rallying following ECB boss Mario Draghi’s address to the Jackson Hole Economic Symposium. Will the Sterling-to-Euro exchange...

Jim Makos
Business Currency Updates

Sterling’s relentless fall against Euro continues

Despite of the positive UK consumer spending and unemployment data releases last week, British Pound hit a new low against the Euro for 2017, dangerously approaching the 7-year low at 1.08. In the meantime, Euro’s rally against the US Dollar paused, as negativity for the American currency eased off. As increasingly more analysts talk of...

Jim Makos
Business Currency Updates

Never-ending decline further weakens Sterling against Euro

Sterling’s freefall continued for another week, hitting a new 2017 low against the Euro last Friday. Investors are overall bullish on the Euro outlook but remain disinclined to buy into Sterling, while the UK economy’s outlook remains gloomy. The British Pound is also hit by forecast downgrades, with the latest one coming from Morgan Stanley,...

Jim Makos