The coronavirus pandemic has replaced Brexit in the headlines for 2020 which is favourable for GBP.
British Pound Sterling to Euro bank forecasts
GBP will rise to 1.20 per euro according to Standard Bank. The coronavirus pandemic means that the deadline for a trade deal this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K.
The GBP to EUR exchange rate jumped to 1.19 in early February when Mark Carney – in his final press conference as Governor of the BoE – stated: “The UK economic performance has not been so far so good, but so far good enough. Although the global economy looks to be recovering, caution is warranted” and “Evidence of a pick-up in growth is not yet widespread.”
GBP to EUR at 1.1009 was trading 2.1% belowAVG:1.1242 with LO:1.0939 and HI:1.1498 (90 days). There are no current rate alerts.
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.
What is a good GBP to EUR exchange rate?
This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.
The following table looks at the change in the GBP to EUR exchange rate to the present day for periods going back upto 10 years:
08 Jul 2020 : 1.1125
15 Jun 2020 : 1.1145
16 Apr 2020 : 1.1500
16 Jul 2019 : 1.1069
17 Jul 2015 : 1.4408
18 Jul 2010 : 1.1831
GBP/EUR 10 year historic rates & changes to 15-Jul-2020 : 1.1032
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