Weekly FX Update

Updated: Mar 26

GBPEUR Monday 9AM 1st March: 1.15700 The Euro (€) continues to be pressured by the Pound, despite last week’s profit-taking seeing a slump to 1.14651 on Friday. It has since recovered slightly in anticipation of Rishi Sunak’s budget announcement on the 3rd March, where he is expected to issue a £5bn fund to help pubs, restaurants, and non-essential shops. We may see the GBP/EUR rise a little higher than the current rate as Europe continue to fall behind on its efforts in dealing with Covid-19. GBPUSD Monday 9AM 1st March: 1.39486 After touching a 12-month high of 1.41945 early last week, the Dollar ($) began to rise over the last 5 days as Biden’s $1.9tn stimulus package has been approved by the US House of Representatives. Moreover, stronger-than-expected US economy data has helped Treasury yields record their biggest daily rise in the last 12-months. This could see the GBP/USD settle around the current rate when combining this new information with Britain’s lockdown exit roadmap and its increasingly successful vaccination programme. Disclaimer: This is not investment advice, this content is for informational purposes only.

5 views0 comments

Recent Posts

See All

Weekly FX Update

GBPEUR Monday 9AM 22nd March: 1.16499 The GBPEUR rate saw increased strength in Sterling heading into Friday. Fluctuations around the 1.17 barrier meant the exchange rate reached a new 12-month hig

Weekly FX Update

GBPEUR Monday 9AM 15th March: 1.16808 The GBPEUR came very close to breaking the 1.17 barrier again last week, however failing to reach it may see a slight correction in the coming days, despite a

Weekly FX Update

GBPEUR Monday 9AM 8th March: 1.16339 The GBPEUR rate survived Wednesday’s budget announcement and closed the week strong, holding support at 1.15. The European Central Bank will update the public v

Go Group Holdings

Go Xchange

Go Privilege

Go Sporting

Payment services for Go xchange Limited are provided by The 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 (FRN: 900199)

Go Xchange's payment and foreign currency exchange services are provided by Global Currency Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN: 504346). Registered as a Money Services Business, regulated by HM Revenue & Customs ("HMRC") under the Money Laundering Regulations 2017. (Registration number is 12137189). Registered in England and Wales. Company number 04675786. Registered Office 3rd Floor 100 New Bond Street, London, England, W1S 1SP.