Trading Conditions:
Axi Symbol: EURGBP
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3 Day Financing: Wednesday
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Short Position Overnight Fee: displayed on the trading platform
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EUR/GBP is the currency pair that represents the exchange rate between two widely traded forex pairs: the euro and the British pound. It represents how many British pounds are needed to purchase one euro. For example, if the EUR/GBP exchange rate is 0.85, it means that 1 euro is equivalent to 0.85 British pounds.
Both the British pound and the euro are primary reserve currencies alongside the US dollar. This means that central banks and international institutions hold significant amounts of pound sterling and euro as part of their foreign exchange reserves.
Being one of the largest economies in the world, the GBP plays a crucial role in facilitating international trade and investment activities. Moreover, the UK has a reputation for maintaining a relatively stable economy and prudent monetary policy, with the Bank of England seen as the gatekeeper of financial stability. This perception could enhance the attractiveness of the pound among investors and traders.
Like the UK, the eurozone is also a major player in global trade and commerce and is known for its relative financial stability, making EUR/GBP one of the most interesting pairs. The economic strength of countries like Germany, France, and Italy contributes to the global demand and popularity of the euro.
The exchange rate of EUR/GBP could be influenced by a variety of financial and geopolitical factors, such as elections in the eurozone and the UK, Brexit-related news, monetary policy decisions, and tensions between countries within Europe. The prices could be influenced by:
When trading the EURGBP forex pair (the euro against the British pound), there are several factors to watch out for. Here are some key financial announcements:
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