Vessey commented on the volatility risk during BOE tomorrow.
“It’s a Super Thursday Bank of England (BOE) policy meeting tomorrow at midday, meaning new economic projections are released along with the usual policy decision, meeting minutes and press conference, he said. A review of negative interest rates will also be published, and markets are warning of elevated volatility. The British Pound has stuck to an upward trajectory against most major currency rivals since the start of the year, helped by the UK-EU trade deal, the so-far successful UK vaccine rollout, fading negative interest rate outlook and improving global risk sentiment.
| UPDATED: 10:58, Tue, Feb 2, 2021
Link copied Sign up for FREE now and never miss the top Royal stories again.
SUBSCRIBE Invalid email
When you subscribe we will use the information you provide to send you these newsletters.
Sometimes they ll include recommendations for other related newsletters or services we offer.
Our Privacy Notice explains more about how we use your data, and your rights.
You can unsubscribe at any time.
The pound to euro exchange rate has soared this morning, navigating well beyond the 1.13 mark. According to experts, the pound is performing well and holding its ground. This is in thanks, in part, to the success of the UK s Covid vaccination programme.
“The escalating COVID-19 wave has taken its toll on countries worldwide.
“The economic impact has already proven devastating, but the longer nations remain in lockdown, the deeper the economic scars could be. For this reason, central banks and governments are expected to continue supporting where possible, making each policy meeting ultra-important and a possible key trading point in currency markets.
“The Euro staged a huge climb against the US Dollar last year adding to the deflationary pressures on European economies that have tipped back into recession.
Map of European currencies (Image: DX)
READ MORE
“The ECB is expected to leave policy unchanged, but focus will be on forward guidance and the assessment of the economic recovery.”
Upwards of £1,000 is it offering 1.1007 EUR.
The best deal currently on Money.co.uk is 1.109 EUR to the pound from Currently Online Group Travel Money.
Fourex Travel Money is offering 1.105 EUR to the pound.
Travel news: Most expensive European cities (Image: EXPRESS.CO.UK)
READ MORE
George Vessey, UK Currency Strategist, Western Union Business Solutions, shared his insight on the shaky start to 2021.
“Choppy currency markets yesterday highlighted the uncertain outlook for the year ahead as investors weigh up the race between the vaccine rollout and the spreading COVID-19 virus, he said. Vaccines have illuminated the path to an economic recovery, which is why risk appetite remains upbeat and global stocks, commodities and emerging market currencies remain in high demand.
| UPDATED: 11:58, Fri, Dec 18, 2020
Link copied Sign up for FREE now and never miss the top Royal stories again.
SUBSCRIBE Invalid email
When you subscribe we will use the information you provide to send you these newsletters.
Sometimes they ll include recommendations for other related newsletters or services we offer.
Our Privacy Notice explains more about how we use your data, and your rights.
You can unsubscribe at any time.
The pound has “firmed” against the euro as all eyes remain on Brexit negotiations and the promise of “definitive news” of a deal or no-deal scenario before the end of the transition period is up. Experts remain hopeful a deal would result in a boost for the pound.