Welcome to my latest account of changes in the euro exchange rate, covering the 28th September to 5th October 2012. This is intended as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. Latest changes in the exchange rate GBPEUR: 1.2577 to 1.2439 (-1.097%) GBPUSD: 1.6267 to 1.6181 (-0.529%) EURUSD: 1.2933 to 1.301 (+0.595%) Back up for the euro then! Following a fortnight in which the common currency fell against its pound and US dollar, its back up again this week, as the markets hope against hope that Spain requests a bailout. Curiously however, this hope flies even in the face of remarks from Spanish prime … [Read more...] about Hope against hope for Spain bailout aids euro
foreign exchange
Euro continues to fall on Spanish budget, Catalonia doubts
Welcome to the Pure FX account of the latest changes in the euro exchange rate, covering the 21st to 28th September 2012. This is intended as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. Exchange rate changes this week: GBPEUR: 1.2511 to 1.2577 (+0.528%) GBPUSD: 1.6252 to 1.6267 (+0.092%) EURUSD: 1.2987 to 1.2933 (-0.416%) So it looks like that fall in the euro that we saw last week, following the common currency’s two-month climb against the pound and US dollar, wasn’t a one-off then: this week, the euro has again lost out against its main counterparts. This currently puts the pound and greenback at a two-week … [Read more...] about Euro continues to fall on Spanish budget, Catalonia doubts
Euro good luck streak ends as Eurozone data points to recession
Welcome to the Pure FX account of the latest changes in the euro exchange rate, covering the 14th to 21st September 2012. This is intended as a brief guide to movements in the euro this week, to put you in the best position when you exchange currencies. Exchange rate changes GBPEUR: 1.2415 to 1.2511 (+0.773%) GBPUSD: 1.6198 to 1.6252 (+0.333%) EURUSD: 1.3048 to 1.2987 (-0.468%) So the euro’s run of good luck comes to an end! The common currency lost out against the pound and US dollar for the first time since mid-July this week, as faltering economic conditions point to recession in the Eurozone, and Spain keeps the markets guessing about whether it intends to tap the European … [Read more...] about Euro good luck streak ends as Eurozone data points to recession
US dollar continues to slide on ECB and Fed stimulus
Welcome to the Pure FX account of the latest changes in the foreign exchange rates, covering the 7th to 14th September 2012. This is intended as a brief guide to movements in the exchange rates this week, to put you in the best position when you exchange currencies. Exchange Rate Changes: UK pound to euro: 1.2601 to 1.2415 (-1.476%) UK pound to US dollar: 1.5939 to 1.6198 (+1.625%) Euro to US dollar: 1.2644 to 1.3047 (+3.187%) The US dollar in particular lost an astonishing four cents against the euro this week, as investors remained upbeat about the European Central Bank’s bond buying scheme, while rejoicing on reports the Federal Reserve has announced more stimulus. So, the … [Read more...] about US dollar continues to slide on ECB and Fed stimulus
US dollar loses out after ECB unveils its rescue scheme
Welcome to the Pure FX account of the latest changes in the foreign exchange rates. This is intended as a brief guide to movements in the exchange rates this week, to put you in the best position when you exchange currencies. Exchange rate changes GBPEUR: 1.2621 to 1.2601 (-0.158%) GBPUSD: 1.5789 to 1.5939 (+0.95%) EURUSD: 1.2554 to 1.2644 (+0.717%) As you can see above, the US dollar was the biggest loser last week, shedding almost 1.00% against the UK pound and euro. This continues a trend we’ve seen since early August, when the buck started to slide against its counterparts, as expectations that the European Central Bank would act to “preserve the euro” boosted global … [Read more...] about US dollar loses out after ECB unveils its rescue scheme
Euro gains as market awaits Draghi’s silver bullet
Welcome to the Pure FX account of the latest changes in the euro exchange rate. This is intended as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. Changes in the exchange rate: GBPEUR: 1.2765 to 1.2593 (-1.347%) GBPUSD: 1.5687 to 1.5787 (+0.637%) EURUSD: 1.2289 to 1.2508 (+1.782%) What’s affected the rate this week Super-Mario to the rescue? As you can see above, the euro has been the big winner in the past week, gaining ground against both the pound and US dollar. Oddly enough though, this isn’t because of anything that’s happened, so much as hopes regarding what might happen. In short, the market is on … [Read more...] about Euro gains as market awaits Draghi’s silver bullet
Spain’s reluctance to request aid weighs on the euro
Welcome to my weekly account of what’s affected the euro exchange rate, covering the 3rd to 10th August 2012. This is intended as a brief guide to the latest movements in the euro, to help you plan the best time for you to change currencies. How The Rates Have Changed Pound to euro: 1.2615 to 1.2707 (+0.729%) US dollar to euro: 0.8079 to 0.8151 (+0.891%) What’s affected rates this week The euro has fallen against both the pound and US dollar this week, chiefly because of a figurative game of chicken between Spain and the European Central Bank. The ECB said this week it was prepared to directly intervene in the financial markets to reduce Spain’s borrowing costs. Given that these … [Read more...] about Spain’s reluctance to request aid weighs on the euro
Euro holds firm as crisis drags on
Welcome to my weekly account of changes in the euro exchange rate. This is intended as a brief guide to what’s affected the exchange rate this week, to help you decide when’s the best time for you to change currencies. Exchange rates: GBP to EUR: +1.06% (1.231 to 1.243) USD to EUR: +0.80% (0.791 to 0.797) As you can see here, the euro has held more or less stable in the past week. Yes, the pound has gained more than a cent, but this is within the range established these last six weeks, between 1.23 and 1.25. Of course, this doesn’t mean to say nothing’s happening in Europe. Quite the opposite. Right now, politicians seem to be doing more and saying more than any time I can recall … [Read more...] about Euro holds firm as crisis drags on
Pound slips on surprise UK GDP downturn
UK sterling has given up almost a cent against the euro this week, as the ONS (Office for National Statistics) tells us Britain contracted -0.1% more than previously thought in Q4, to a total –0.3%. Obviously enough, this has stoked concerns the UK might re-enter recession in 2012, and in fact the OECD (those cheery fellows!) have already made this prediction. Bright side for Britain Fortunately, on the flip-side there are plenty of economists who accuse the OECD of doom-mongering here, and indeed UK performance in 2012 has been pretty solid so far. Both the manufacturing and services sectors expanded these past 3 months, while exports also enjoyed a solid increase. This suggests the UK … [Read more...] about Pound slips on surprise UK GDP downturn
UK pound to euro exchange rate stable as outlook darkens
The UK pound kept close to the 1.20 mark against the euro this week, as economic data in both the UK and eurozone points to a difficult road for 2012. In particular, in the UK retail sales dropped a precipitous –0.8% last month, signalling that consumers are no more confident in their prospects, while the coalition government borrowed more than twice as much as forecast. In Europe meanwhile, attention has turned to Spain and Italy, where crucial labour reforms are being debated, while spluttering manufacturing output points to a deepening recession. UK retailers on the back foot UK retail sales declined double the expected rate last month, falling –0.8% compared to the -0.4% forecast. … [Read more...] about UK pound to euro exchange rate stable as outlook darkens