Weekly FX Update


Monday 9AM 29th March: 1.17397

Despite an expected quiet Monday trading session for GBPEUR, the rate hit another 12-month high this morning at 1.17458. The Euro continues to weaken as European coronavirus cases continue to rise as the slow rollout of vaccines inflames the situation even further. Investors are becoming increasingly nervous with the way European countries are handling the situation, especially in President Macron's France. The Pound remains strong as the Moderna vaccine creates optimism, combined with the fact that today, the UK enters its first stage of its lockdown roadmap with lifted restrictions.


Monday 9AM 29th March: 1.38131

After Fed Chair Jerome Powell announced that the Fed would support the U.S. economy for the foreseeable future, he continued to reassure that market inflation would not be a problem, as a result the Dollar traded very steadily against a strengthening Pound last week. Optimism regarding Britains vaccination and economic outlook recovered some losses on the Dollar, after reaching a weekly low of 1.36759. Markets and investors will be waiting for the UK GDP figures which will be released on Wednesday. In the wake of a successful rollout of U.S vaccinations and Biden's stimulus package, the U.S. consumer confidence, released on Tuesday, is expected to reveal positive news for USD.

15 views0 comments

Recent Posts

See All

Weekly FX Update

GBP/EUR Monday 9AM 12th April: 1.15623 The GBPEUR rate saw an extremely sharp drop last week, starting out Monday at 1.18017, the rate bounced off of support at 1.15, dropping to a low of 1.15020. The

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

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.