The British pound slightly stronger against the euro

The pound has grown against the euro during Thursday trading. The reason is fear of second wave of the pandemic, but also current progress on negotiations around future relations between the UK and the EU.

The British pound slightly stronger against the euro

Analysts reported that Thursday trading did not signal any obvious trends. The pound has grown mainly because investors had preferred different currencies that the euro. The euro was weakened due to European stocks, and therefore the pound could grow against it. However, it only grew in 0,2%. One euro was worth 90,42 pence, which is 0,41 pence more than on Wednesday trading. The pound has grown to its highest weekly levels against the euro. The British currency has also grew against the US dollar, yet only in 0,1 percentage point. 

The Euro/British pound market was affected by the fact that some assets denominated in the euro were evaluated as riskier, including Italian bonds, whose market value dropped as the European Central bank resists decision by German courts. The decision concerns illegal measures, which should allow the ECB to print money in case the economy needs it. To some extent, the pound grew thanks to hopes on progress of negotiations of future relations with the EU.


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