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    GBP to EUR Forecasts

    The pound to euro exchange rate direction is being driven by the energy crisis and the lingering impact of the pandemic on full reopening of the economies in England and the Eurozone.

    Updated: Jun 21, 2022  
     

    1 GBP = 1.1171 EUR
    Sell GBP  →  Buy EUR
    GBP to EUR at 1.1176 is 4.3% below its 90-day average 1.1679 with range 1.1114-1.1966.
    |
      1 EUR = 0.8952 GBP
     
    1-DAY+0.6%
    90-DAYLOW1d

    GBP/EUR Outlook

    Mid-year the GBP/EUR rate is well down to around to the 1.15-16 levels, well down from the recent high of 1.21 in March.

    This is some achievement given the Euro has been under heavy pressure itself from impact on gas prices by the the war in Ukraine.

    The BoE’s (UK central bank) gloomy economic forecasts has also increased pressure on Sterling.

    DateGBP/EURChangePeriod
    13 Sep 2022
    1.1527
    3% 2 Week
    29 Jun 2022
    1.1611
    3.7% 3 Month
    27 Sep 2021
    1.1714
    4.5% 1 Year
    28 Sep 2017
    1.1399
    1.9% 5 Year
    29 Sep 2012
    1.2570
    11% 10 Year
    02 Oct 2002
    1.5911
    29.7% 20 Year
    GBP/EUR historic rates & change to 27-Sep-2022

     

    Factors that affect the British Pound Sterling to Euro exchange rate

    The Russian invasion of Ukraine is a giant source of volatility hurting both the pound and euro given both zones reliance on Russian gas.

     

    The pound hit an all-time low (since decimalization in 1971) in late September of 1.03 against the greenback (1 USD = 0.97 GBP) — reacting to the controversial tax-cutting policies from the new chancellor.

    The outlook for sterling against most currencies over the winter remains extremely challenging in its precarious post-Brexit/Ukraine war economic environment.

     GBP Outlook


     

    Major banks are forecasting the eurozone common currency to fall to $0.95 by the end of the year.

    This multi-year low for the euro vs the US dollar looks only to worsen as winter approaches; the short term news for the single currency is all negative.

     EUR Outlook


     

    A risk-off market mood always favours the safe-haven Euro over the riskier Pound.

    Note that forecasts and predictions for the GBP/EUR exchange rate change all the time, affected by news events and relative sentiment towards the UK and Eurozone economies and this exchange rate is even more volatile than usual because of the uncertainties around Brexit.

    You can read more about GBP cross-rate forecasts here GBP Trends and Forecasts for 2021.

     

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    Posted under: #Forecasts #EUR #GBP
     

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.