British pound hits highest price in more than two years against euro
The British currency, the British pound, managed to surpass the euro in more than two years, after reaching 82.50 pence per euro; an appreciation of 0.3 %
A 0.3 % appreciation in the value of the British pound gave a boost to the British currency to place it above the euro.
The British pound stood at 82.50 pence per euro, a rebound that had not been seen since April 2022. The increase comes amid expectations that the Bank of England (BOE) “will be less aggressive in interest rate cuts compared to the European Central Bank (ECB)”.
On Tuesday, December 10, the pound appreciated by up to 0.3 %, while government bonds, known as gilts, fell, “with 10-year bond yields climbing to 4.33 %,” a high not seen since November 28, 2022.
“Looking ahead to 2025, interest rate differentials between the UK and the euro area are expected to widen. Swap rates indicate an easing of 80 basis points by the BOE and approximately 125 basis points by the ECB.”
M.Pino
Source: investing
(Reference image source: Toa Heftiba on Unsplash)
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