March 1, 2023 – Written by John Cameron
STORY LINK Pound Euro (GBP/EUR) Exchange Rate Sinks amid Dovish BoE Governor Bailey Speech
Pound Euro (GBP/EUR) Exchange Rate Sinks amid Dovish BoE Governor Bailey Speech
The Pound Euro (GBP/EUR) exchange rate weakened sharply during Wednesday’s session, following a dovish speech from Bank of England (BoE) Governor Andrew Bailey. In his speech, Governor Bailey implied that interest rates had peaked, leading to a sell off of the Pound.
At the time of writing, GBP/EUR traded at around €1.1263, and reflected a loss of around 1% from Wednesday’s opening rates.