EURUSD 1.1694 USDJPY 111.43 USDCAD 1.2483 EURCZK 26.028 USDCZK 22.253 EURPLN 4.2540 USDPLN 3.6377
EURUSD 1.1694 USDJPY 111.43 USDCAD 1.2483 EURCZK 26.028 USDCZK 22.253 EURPLN 4.2540 USDPLN 3.6377

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Most transactions in the FOREX market in the UK are hedge related and not speculative

EURGBP
Bid / Ask: 0.88969 / 0.88986
Price change: 0.00219 (0.25%)
Opening price: 0.89188
Maximum price: 0.89545
Minimum price: 0.89013
Display period:
Chart type:

Rule of thumb

This is a rather stable currency pair, but it tends to be more volatile when the US financial markets are closed

The EURGBP currency pair represents the value of one euro in terms of British Pounds. Although it plays an important role in transactions between the  euro zone and the United Kingdom, it accounts for only 3% of the total turnover on the Foreign Exchange market. Nevertheless, the EURGBP currency pair is one of the most important on the Forex market, as the euro is the second and British pound fourth most traded currency  in the world. The EURGBP  is typically characterised by lower volatility than in the case of such markets as EURUSD or USDCHF.

 

The British Pound has always had an important role in the FOREX market. As the UK is one of the most internationalised countries, it heavily relies on the services sector, especially banking and finance.

 

Currently the United Kingdom accounts for a 36% share of  worldwide currency trading. This includes the 41% share of the global turnover on the forward market and 32% of the swap market, whereas in the case of the US, the ratio is 21% and 11% respectively. The British financial market has been historically treated as an intermediary for offshore transactions.

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