Live EUR to GBP Price & Forex Trading Guide

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EUR/GBP overview

EUR/GBP is not widely regarded as one of the traditional major currency pairs due to its exclusion of the US dollar (USD). In terms of daily trading turnover, it sits within the top 10 at $154 billion – accounting for roughly 2% of all forex trades.

The euro first came into mainstream circulation in 2002 and is now the currency of 20 countries within the European Union (EU), including the likes of France, Germany, Spain and Italy. Although only founded relatively recently, it has swiftly become the second most traded currency in the world, behind the USD.

The pound, by contrast, is the oldest currency still in circulation – its inception dating back hundreds of years. It adopted the decimal system in 1971 and is involved in 12.9% of all forex trades, making it the fourth most popular currency behind USD, EUR and the Japanese yen.

What affects the EUR?

There are fundamental elements to keep an eye on as part of your analysis of the EUR/GBP pair. These include:

European Central Bank (ECB) announcements: Changes regarding interest rates and other monetary policies for the Eurozone fall under the remit of the ECB, so traders need to be across any updates or statements.
Economic indicators:The likes of inflation rates, employment rates and GDP across the Eurozone are valuable sources of information for monitoring the performance of the euro and, by extension, the EUR/GBP.
Political developments: As a currency that covers such a wide scope of nations, any political upheaval or instability can influence fluctuations in the euro's value. This also extends to nations that aren't member states, such as Russia and Ukraine.

What affects the GBP?

The performance of the pound can be closely linked to that of the euro, due in part to the close relationships that still exist between the UK and the Eurozone. Influential factors include:

Economic data: As with any currency, key indicators like GDP, interest rates and inflation all reflect the status of the pound.
Political news: The Brexit vote in 2016 and the UK's subsequent departure from the EU both prompted periods of extreme volatility in the GBP's performance.
Bank of England announcements: The central bank influences the GBP in various ways, defining monetary policy and setting interest rates.

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EUR to GBP

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