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GBP vs EUR currency overview for 20th January 2018The Pound to Euro exchange rate was able to hold its ground on Thursday due to central bank speculation. Pound investors remained optimistic thanks to hawkish comments made by Bank of England (BoE) policymaker Michael Saunders on Wednesday, while the Euro has been under pressure ahead of next week’s European Central Bank (ECB) policy decision.
High ranking ECB officials have recently expressed concern over the value of the shared currency, arguing that its recent strength does not correlate to improvements in economic fundamentals.
As a result, the Euro has fallen from its highs, and is currently stalled as investors await next week’s policy decision before making fresh big moves on the currency.
GBP vs EUR trend analysis for 20th January
Both the long term (green line) and recent trends (blue line) show that GBP-EUR is trending upwards.
As the Pound is generally strengthening against the EUR, this means that you should receive more Pounds for every Euro.
However, with GBP-EUR trending so strongly upwards, it may be sensible to see if you can convert your Pounds for more Euros in the next few days.
The overview update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/EUR exchange rates
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