March 13th 2024 11:00
Euro to Pound Exchange rate today is at £0.8547
Pound to Euro Exchange rate today is at €1.1699
€1 EUR | is worth | £0.8547 Pounds |
£1 GBP | is worth | €1.1699 Euro |
€10,000 EURO | is worth | £8547 Pounds |
£10,000 GBP | is worth | €11699 Euro |
You Can Check the Live Euro to Sterling Exchange Rate Here
Will the Pound Rise Against the Euro ?
The pound-to-euro exchange rate has been maintaining a hold around the €1.17 area.
UK wage and employment data undershot market expectations, boosting the odds of a June rate cut at the Bank of England and resulting in a broadly weaker British Pound.
On Tuesday the Pound to Euro exchange rate extended the current week’s decline to 1.1708 after UK average earnings, with bonuses included, rose 5.6% in January, which was softer than the 5.7% expected and below December’s 5.8%. The exchange rate had been as high as €1.1750 early on Monday.
The Pound to Euro exchange rate looked to consolidate recent losses on Wednesday after the ONS reported the UK economy grew 0.2% month-on-month in January.
Analysts at Julius Baer recently upgraded their three-month outlook for the Pound against the Euro, seeing EUR/GBP at the lower end of its long-running range at 0.85, which equates with a pound to euro exchange rate of 1.1765.
Tight monetary policy in the EU burdens economic activity. The growth stagnation is likely to continue in H1 2024 while inflation recedes further. Thus, The ECB will likely start cutting interest rates in April of this year.
In the UK, Economic growth is stalling, burdened by still elevated inflation and tighter monetary policy. Given the weak economic backdrop but sticky inflation, we expect the BoE to wait with rate cuts until June 2024.
The news and information contained on this site are not investment advice.
For example- if the current exchange rate suits your future house purchase budget it would make sense to fix the rate now while you wait for your house to sell.
You can also place automatic orders – so that when a rate hits your target rate – the exchange is automatically carried out for you.
Get a Quote For A Currency Transfer
Garton Global Payments is based in London and was set up by Irish native Niall Walsh. They have plenty of experience in dealing with large money transfers between Ireland and other countries. All payment processing is carried out on the CurrencyCloud platform which is fully authorized and regulated in the UK, EU, US, and Canada .
You can request a quote online or call the Garton team direct on (UK) +44 20 8004 5841 or on their Irish number 1800-816349
For more options when transferring large amounts of currency – see our article – How To To Get the Best Exchange Rates On International Money Transfers.