Pure FX Logo arrow Reviews On Feefo Pure FX Logo Exemplary Service In-Depth Knowledge We're Jargon Free Same-Day Transfers Better Exchange Rates Purefx_currency_exchange Personal Transfers Business Transfers Personal Service Trusted Brokers Get A Quote Register With Us Make A Transfer Seller Transfers Contract Definitions Read Our Top Tips What Influences Exchange Rates Glossary Frequently Asked Questions Contact Us

Euro Reaches 1-Week High Versus Pound, as Eurozone Joblessness Falls

Market CommentaryEuro Reaches 1-Week High Versus Pound, as Eurozone Joblessness Falls
Euro Reaches 1-Week High Versus Pound, as Eurozone Joblessness Falls
Image credit: Robin Bos.

Welcome to Pure FX's latest update of the euro to pound interbank exchange rate!

The common currency rises versus sterling! The euro to pound interbank exchange rate has reached 0.9049 today, its highest in 1 week, or since January 3rd.

If you're a Brit selling your property in Spain or France and returning to the UK, or a European emigrating to the UK, this may be helpful information for your currency transfer!

Euro Strengthens, as Eurozone Unemployment Falls

The euro to pound interbank exchange rate has hit this 1-week high, because Eurozone unemployment unexpectedly fell in November, said official data on Wednesday.

According to Eurostat, joblessness in the common currency bloc fell by -0.1% in November to 7.9%, easily beating forecasts for a rise to 8.1%.

This is the Eurozone's lowest unemployment rate in 10 years, since October 2008, and was buoyed by falling joblessness in Italy and Spain.

This bodes well for the Eurozone's economy, even with recent signs of slowing economic growth, thus lifting the euro!

Pound Weakens, as UK Retail Sales Sink in December

Furthermore, the euro has also hit this 1-week high versus the pound, because the UK's retail sales fell in December, said the British Retail Consortium (BRC) today.

According to the BRC, UK like-for-like retail sales fell by -0.7% last month, far below forecasts for a smaller -0.3% decline, and the worst Christmas since 2008.

BRC chief executive Helen Dickinson said about these figures, "Squeezed consumers chose not to splash out this Christmas, with retail sales growth stalling for the first time in 28 months."

This may slow the UK economy, thereby weighing down sterling too!

Sterling Falls, as Pound May Fall to Parity in 2019

What's more, the euro to pound interbank exchange rate has also hit this 1-week high, because sterling may fall to parity versus the euro this year, say new reports.

According to Robert Howard at respected news source Thomson Reuters yesterday, Paddy Power is now putting just 3-1 odds on sterling hitting parity with the Eurozone's common currency in 2019.

Mr. Howard says that a 'No Deal' Brexit, in which the UK crashes out of the EU at the end of March without a deal, would push the pound to parity against the euro.

This risk has also lifted the euro versus sterling today!

Get A Free Euro to Pound Exchange Rate Quote

Get a free euro to pound exchange rate quote to get a highly competitive exchange rate, and find out how much you could save with Pure FX.

You’ll get a highly competitive euro to pound exchange rate for your money transfer!

Please bear in mind, this article is Pure FX’s opinion only and does not constitute advice. Moreover, the exchange rates referred to in this article are the interbank rates, which are the rates at which banks and financial institutions buy and sell currency to each other. Therefore these exchange rates cannot be accessed by individuals or SMEs, and are not the same rates that Pure FX can offer. To get a free exchange rate quote, call us on +44 (0) 1494 671800, or email [email protected]

Get a Quote
Feefo service

What Our Clients Say

Read all the reviews at Feefo.com

Why Us

Exceptional Service

We have received Feefo's Gold Trusted Service Award 3 years in a row.

Same Day Transfers

We can transfer your money to your destination bank account the same day you send it, once we’ve confirmed the payment details with you.

Competitive Exchange Rates

Competitive exchange rates and transparent transfer fees, so you know exactly what you’re paying for.

Dedicated Personal Service

To guide you through the transfer process and keep you up-to-date with the changing exchange rates.

Established in 2006

Since then, we’ve transferred money for thousands of satisfied clients.

How It Works

  • 1. Register

    for a no obligation account
  • 2. Agree the exchange rate

    with your account manager over the phone
  • 3. Send us payment

    for the transfer of your purchased currency
  • 4. We transfer the currency

    to your nominated account