Jim Makos
Business Currency Updates

New lows for Sterling due to Euro’s increasing strength

Euro came out stronger after last week’s European Central Bank meeting, which subsequently sent GBPEUR exchange rate to new multi-month lows. Sterling still struggles to reverse its downward course, harmed by anaemic progress in Brexit negotiations. Yet, the driving force for the short-term collapse against Eurozone’s currency has been undoubtedly Euro’s powerful rally rather than...

Jim Makos
Business Currency Updates

Sterling quickly loses last week’s gains

After a remarkable bounce last week, Sterling’s exchange rate against Euro has already taken a dive at the start of this week. Following a strong ending that pushed GBPEUR from 1.12 to 1.14 last Friday, Pound is trading below 1.13 Euros this morning. Meanwhile, Euro is climbing on Tuesday after a minor pause in its...

Jim Makos
Business Currency Updates

UK disappointing data hits Sterling

After a series of disappointing economic data releases last week, Sterling suffered significant losses against the Euro. As the UK economy continued to show poor signs for growth, GBPEUR exchange rate plunged to the 6-month support level once again. Euro, meanwhile, managed to avoid a correction during its recent rally in its fight against the...

Jim Makos
Business Currency Updates

Sterling Stalls against Euro on Banking Talks

It was a week for banking officials to set the tone of the market. First came European Central Bank’s President, who hinted at the end of quantitative easing and higher interest rates, boosting Euro exchange rates worldwide. Then Bank of England’s Governor followed up with a similar message for rate hikes due to UK’s rising...

Jim Makos
Business Currency Updates

Consolidating Sterling prepares to gain against Euro?

Last week we noted the turning point that Sterling is currently trading at against Eurozone’s currency. Seven days later and Sterling continues to consolidate at the same exchange rate, allowing a glimmer of hope for an imminent upside following the two-month decline amidst political uncertainty still looming over UK. Euro, in the meantime, failed to...

Jim Makos
Business Currency Updates

British Pound on a Turning Point as Brexit Negotiations Begin

Sterling paused its freefall the previous week as UK political drama eased off and indications for an upcoming rate hike came from Bank of England. Following General Election’s disappointing results for Theresa May, the suggested DUP coalition somewhat calmed the markets, whereas at the same time three BoE members voted for a 25bps interest rate...

Jim Makos