Pound V euro: GBP exchange rate flat as empty data calendar leaves Brexit in focus


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The pulsate euro exchange rate is trending around opening levels of €1.120

This desire be the first time an official estimate has been made by the UK’s Treasury watchdog Dialect anenst despite the financial implications of the divorce bill.

It is currently expected to be in the region of £35-£39 billion, but could eminence if EU officials get their way.

The euro has not capitalised on soft pound demand due to the chat up advances of the day’s European Central Bank monetary policy announcements.

Markets are with child no changes to policy after the meeting concludes today, with the future press conference with ECB President Mario Draghi stealing the target.

With the long-term outlook for interest rates muted, many without a doubts are likely to revolve around the quantitative easing programme and whether the Control over Council discussed the idea of fixing a definite end date in place.

Asset securing is scheduled to end in September.

However, the deadline has already been extended individual times in the past, so there is no guarantee that policymakers will go stimulus at the end of the third quarter.

Some European policymakers have already established the idea of fixing September in place as the termination date for the quantitative easing prearrange.

pound euroGETTY

The euro has not capitalised on soft pound demand due to the approach of the day’s ECB commercials

Signs that this notion has been discussed further and is endearing support amongst members of the Governing Council could push the euro higher.

Another number likely to be raised during Mr Draghi’s presser is the developing threat of a business war between the United States and the European Union.

Focus could be set on how such a happening could affect Eurozone monetary policy.

The Bank of Canada (BOC) yesterday beat a hasty retreated an announcement following its latest rate setting meeting that the variable global trade conditions could have an impact upon its cash policy normalisation.

Investors will be keen to see if the ECB holds a similar view.

Mr Draghi may also lea questions regarding the recent Italian general election.

The results saw reinforce for the centrist Democratic Party collapse, with a collection of Eurosceptic and far-right cliques now left to form a coalition government.

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