Goldman Sachs Forecasts GBP/EUR Exchange Rate and Eurozone Resilience
1 report, 1 independent
Updated Mon 00:00
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What happened
Goldman Sachs released forecasts regarding the Pound to Euro exchange rate (GBP/EUR) and the resilience of the Eurozone. The bank projects a 12-month GBP/EUR rate of 1.1360. The GBP/EUR pair recently dipped to 12-week lows near 1.1610 while attempting to stabilize.
From currencynews.co.uk
Why it matters
The forecasts reflect the tension between stronger-than-expected Eurozone economic data and concerns over the UK fiscal outlook. The UK 10-year government bond yield reached 19-year highs of 5.40% during the period.
From currencynews.co.uk
Who's involved
- Goldman SachsPublished forecasts on the GBP/EUR cross rate and Eurozone economic health.
- euroThe common currency of the Eurozone, whose market movements are forecast by Goldman Sachs.
- Bank of EnglandThe central bank whose operational environment is influenced by the UK fiscal outlook.
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The entities involved
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Goldman Sachs
American investment bank
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euro
currency of most countries in the European Union