Analysis of recent Sterling → Euro forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Pound Sterling to Euro performance and trends.
Forecasts for GBP to EUR
Recent exchange rate forecasts suggest that the GBP to EUR pair may experience some fluctuations in the near term. The Pound (GBP) has been under pressure due to disappointing UK wage data and softening economic indicators, leading to expectations of potential interest rate cuts by the Bank of England. Conversely, the Euro (EUR) has been affected by cooling German inflation and concerns over Eurozone economic weakness, which could prompt the European Central Bank to consider rate cuts. Despite these challenges, analysts foresee a cautiously optimistic outlook for the EUR/USD pair in 2024, based on expectations of a strengthening Euro against the US Dollar, driven by potential monetary policy divergence between the ECB and the Federal Reserve.
The current GBP to EUR exchange rate at 1.1716 is slightly above its 3-month average, indicating relative stability in the pair's trading range. Additionally, movements in the Euro may be influenced by oil price trends, with Oil to USD trading higher than its 3-month average, suggesting potential impacts on the Eurozone economy. With Brexit uncertainties and political events shaping the GBP and economic indicators affecting the EUR, market participants will closely monitor developments in monetary policy and economic data releases to navigate potential currency fluctuations in the GBP to EUR exchange rate.
@bestfxrates : 📉 GBP to EUR faces volatility amid UK wage woes & possible BoE rate cuts. Euro impacted by weak German inflation, with ECB moves also in focus. Despite headwinds, a stronger EUR is projected against USD in 2024. Current rate at 1.1716 hovers above the 3-mo average. Oil prices may sway the Euro as market watches for monetary policy clues. #CurrencyTrading #GBP #EUR #ForexUpdate
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Date
GBP/EUR
Change
Period
04 Mar 2024
1.1690
0.2% ▲
2 Week
19 Dec 2023
1.1596
1% ▲
3 Month
19 Mar 2023
1.1411
2.6% ▲
1 Year
20 Mar 2019
1.1554
1.3% ▲
5 Year
21 Mar 2014
1.1953
2% ▼
10 Year
23 Mar 2004
1.4998
21.9% ▼
20 Year
GBP/EUR historic rates & change to 18-Mar-2024
Will the Pound Sterling rise against the Euro?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add GBP/EUR to your personalised Rate Tracker to track and benefit from currency movements.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more