Blog


Sterling continues to slip against the euro

Sterling dipped against the euro again today, kept under pressure by the single currency’s renewed strength as relieved investors turned optimistic on Europe after the first round of the French presidential election.

On Monday the pound had its worst day versus the euro since early January, falling 1.4 percent after a run-off vote between two strongly anti-EU candidates was averted in the election. Expectations that centrist Emmanuel Macron will easily beat far-rightist Marine Le Pen in the second round on May 7 have fuelled a relief rally in the EU’s shared currency.

Sterling had rallied almost 2 percent last week to hit four-month highs versus the euro after British Prime Minister Theresa May called a snap election. Investors expect her Conservatives to win by a landslide, giving her a clear domestic mandate as Britain heads into exit negotiations with the European Union.

This week, investors will look for UK economic output data out on Friday, while eyes will also be on an EU summit on Saturday at which draft negotiating guidelines for Brexit will be finalised.

Leave a Reply

Your email address will not be published. Required fields are marked *

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited, Equals Connect Limited and Ebury Partners UK Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Mananger. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). Ebury Partners UK Ltd is registered with the information commissioners office with registration number: ZA345828. | Terms and Conditions | Privacy Statement | Careers