Stocks are higher, which makes for a stronger Pound into Euro conversion.
The Pound to Euro exchange rate has recovered somewhat from near November lows since April 11 and could be likely to trade buoyantly within a 1.1565 to 1.1709 range over the coming days in what would largely be a reflection of the Dollar’s gyrations against the single currency and Sterling.
The British Pound rose against the Euro and remained buoyant near intraday highs against the US Dollar on Thursday after the European Central Bank cut its once-negative deposit rate, in line with economist and market expectations, and warned about the possible adverse effects of White House economic policy.
The Pound to Euro exchange rate rose from near 18-month lows as Sterling featured among the better performing advanced economy currencies in London trade on Thursday, and it could be likely to remain supported above 1.1611 through a looming interest rate decision from the European Central Bank.