December 2nd 2022 12:30
Euro to Pound Exchange rate today is at £0.8582
Pound to Euro Exchange rate today is at €1.1657
|€1 EUR||is worth||£0.8582 Pounds|
|£1 GBP||is worth||€1.1657 Euro|
|€10,000 EURO||is worth||£8582 Pounds|
|£10,000 GBP||is worth||€11,657 Euro|
You Can Check the Live Euro to Sterling Exchange Rate Here
Will the Pound Get Stronger Against the Euro ?
The British Pound was the best-performing major currency at the start of December and could deliver further gains, provided global investor sentiment remains upbeat into Christmas
In 2022 so far, the pound has been worth as little as €1.08 and as much as €1.21 against the Euro.
The Pound came under significant pressure in late September amidst a collapse in UK bonds – which sent bond yields surging higher – following the UK government’s ‘mini budget’. The pound fell to around €1.11 on Sept 26th
The Bank of England raised interest rates to 3 per cent on 3rd Nov – from 2.25 per cent. The Pound fell almost 2% after the interest rate decision. However – The Pound eventually recovered against the Euro and ended November broadly unchanged.
Stephen Gallo, Head of European FX Strategy at BMO Capital Markets said this week that he expects the Pound will continue to outperform the Euro on a relative basis and that a test of 0.8500 in EUR/GBP is possible. (In Pound to Euro exchange rate terms this would be 1.1765).
The Pound has followed global stocks lower through 2022 as the weight of Fed rate hikes weighed on sentiment and diminished the value of stocks. This is because the UK runs a large current account deficit, meaning the Pound’s value is sensitive to global investor flows and struggles when investors are nervous. But when investors are confident more money finds its way into the UK, plugging the current account deficit and supporting Sterling.
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
For more options when transferring large amounts of currency – see our article – How To To Get the Best Exchange Rates On International Money Transfers.