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€€ Currencies Direct - Latest Currency News €€ GBP/EUR exchange rate rocked by recession fears and political uncertainty Staying up to date with the latest currency news can help you time your transfers effectively, so find out what you should be looking out for over the month ahead… Latest currency news. The GBP/EUR exchange rate traded erratically over the past month, with the pairing fluctuating between €1.18 and €1.16, while EUR/GBP ticked up from £0.84 to £0.85. What’s been happening? The pound fluctuated through most of the past month, with political jitters and economic concerns rocking the currency. Meanwhile, signals from the European Central Bank that it will raise interest rates in July and September were welcomed by EUR investors. Although concerns the hikes will have an uneven impact on the Eurozone economy limited the euro’s upside potential. At the same time, the war in Ukraine
continued to influence the GBP/EUR exchange rate, infusing volatility into the pairing. What do you need to look out for? GBP investors are likely to keep a close eye on UK economic data over the next month as they seek to gauge whether the UK is at risk of slipping into a recession. Meanwhile, with no end in sight for the war in Ukraine, its likely the conflict could continue to act as a headwind for the euro. At Currencies Direct we’re here to talk currency whenever you need us, so get in touch if you want to know more about the latest news or how it could impact your currency transfers. Since 1996 we’ve helped more than 325,000 customers with their currency transfers, just pop into your local Currencies Direct branch or give us a call to find out more. Tel: +34 952 906 581
