Pound to Euro Today: Rangebound as Markets Await ECB Signals

– Written by


David Woodsmith

STORY LINK Pound to Euro Today: Rangebound as Markets Await ECB Signals

The Pound to Euro exchange rate (GBP/EUR) remained rangebound on Tuesday, as a lack of fresh UK and Eurozone data left both currencies struggling to attract sustained demand.

At the time of writing, GBP/EUR was hovering around €1.1528, showing little movement from the opening levels of the session.

The Euro (EUR) traded without clear direction, with a quiet Eurozone calendar leaving investors reluctant to place decisive bets on the single currency.

Earlier sources of support for the Euro, including the recent pullback in the US Dollar (USD), began to fade, removing another prop for EUR exchange rates.

Caution also crept into Euro trading ahead of comments from European Central Bank (ECB) President Christine Lagarde later in the session. While no major policy announcements are expected, any remarks on the health of the Eurozone economy could still influence sentiment. A more upbeat assessment of growth prospects into 2026 may offer the Euro some limited support.

The Pound (GBP) was similarly directionless, with a thin UK data calendar leaving Sterling exposed to broader market dynamics.

Political developments continued to simmer in the background, subtly weighing on GBP sentiment. Prime Minister Keir Starmer is facing growing resistance within his own party following efforts to block Andy Burnham from standing as an MP, with reports suggesting dozens of Labour MPs have formally raised objections.

GBP/EUR Forecast: German Sentiment Data in Focus

Looking ahead, Germany’s upcoming consumer confidence figures may provide the next potential catalyst for movement in the Pound to Euro exchange rate.

If sentiment data mirrors the recent weakness seen in business confidence surveys, the Euro could come under renewed pressure on Wednesday.

Meanwhile, with little of note on the UK economic calendar, the Pound may continue to trade without a clear sense of direction through the middle of the week.

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TAGS: Pound Euro Forecasts