GBP/EUR holds steady amidst financial turbulence
The exchange rate of GBP/EUR remained stable amidst the volatility on May 27. At the moment the pair is trading at about €1.21.
The euro might shift later today. The traders are anxious about the possibility of a massive bond acquisition effort, that is, reportedly, being prepared by the European Central Bank, separately from the Bundesbank.
Reuters experts believe, that this might lead to ECB launching an extraordinary legal action against Bundesbank in order to make it come back to the project. The president of the bank Christine Lagarde will make a speech later today.
The British Pound has been held back from further deterioration by the positive news. According to the statement of the Bank of England’s expert, UK’s economy is doing better than forecasted.