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Euro Sterling Exchange Rate April 2023

  • 08-04-2023 1:40am
    #1
    dxhound2005
    Registered Users, Registered Users 2 Posts: 21,485 ✭✭✭✭


    On 07 April Sterling lost nearly one cent against the Euro in half an hour around 9 pm. That BBC site goes up and down constantly every day, with no good reason that I know of except speculation. But I never saw a chart like that before. I went looking for the reason, but nothing came up. I did find this site predicting a big fall in Sterling over the next few months. Anyone looking to buy Sterling might be interested. Of course their predictions could be miles off.

    https://www.exchangerates.org.uk/news/37892/2023-04-07-pound-sterling-to-euro-dollar-forecast-to-fall-near-term-says-analyst.html

    Exchange Rate Forecasts

    For EUR/GBP, he anticipates it to rise to a near-term peak of 0.92. This converts to a GBP/EUR forecast of approximately 1.087. Today's rate for GBP/EUR is 1.13977 (+0.06%), indicating a forecasted decline of 4.61% from the current rate.

    https://www.bbc.com/news/topics/cx250jmk4e7t/pound-sterling-gbp

    image.png




Comments

  • #2
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    I'd change the charts I look at - there was no sudden movement in EurGbp.

    If anything, the trading range yesterday was in a very tight range due to lack of volume.


    I can also point you to a dozen sites that will say sterling will strengthen to 83p and another dozen sites that will tell you 93p.


    The truth is nobody actually knows.


    Adam Cole is generally negative on sterling and his forecasts can be over dramatic, but his points are good, however many things can and do change quickly.



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