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WHAT FACTOR AND HOW MAY AFFECT THE PRICE OF EUR/GBP
Economic downturns and crises can have a massive strong influence on currency price swings. Below we are going to look at some of the main factors that play a role in British pound trading, and how these factors can affect the strategies used by traders and investors.
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EUR / GBP Recommended Trading Hours
During the day, there are times of high demand to trade the EUR / GBP pair, usually between
6:00 and 16:00 (GMT).
Why is the EUR / GBP pair attractive to traders?
The EUR / GBP currency pair is the pair with excellent liquidity and high volumes of continuous operations, it is one of the most used currencies in financial markets globally.
It is not surprising that it is one of the preferred currency of many traders for opera with the EUR / GBP currency.
History of the currency pair EUR/ GBP
Australian dollar and Canadian dollar.
The history of the euro has just started and is newer than other currencies, since EUR coins and banknotes only entered circulation on January 1, 2002 in the European Union and its 12 States, in those years they also adopted the euro the mini states such as Vatican City, Monaco and San Marino, and In 2011 Andorra finally manages to sign a monetary agreement with the European Union, which would come into force on April 1, 2012, which officially put the euro in Andorra, since Andorra had unofficial agreements with countries of the European Union.
The British pound dates back about 775 years. After decimalization in 1971, it evolved to its current, modern state.
Statistics show that (GBP) is the fourth most traded currency by traders in the forex market and it represents a high portion of daily trades worldwide.
Past events that affected the exchange rate of the British
pound include: the depreciation of the US dollar in 1965, which affected interest rates on the British pound; the departure of the United Kingdom from the Exchange Rate Mechanism in 1992, and in 2001, when prices fell again when the bubble of the points of the 1990s finally burst.
The role EUR plays
(ECB) The European Central Bank is one of the main bodies to which traders will pay the most attention when making decisions.
He (ECB) publishes monthly reports on rates and rate statements, which are used as indicators of the possible stance of monetary policy.
Another factor to consider is the employment figures, which can be easily analyzed. The strength and stability of jobs for the region have a great impact on the match and can be valuable information for traders.
The role GBP plays
A significant factor affecting the value of the British pound is the overall performance of the UK economy.
the types of reports on GDP (gross domestic product)
the preliminary "GDP", the revised "GDP" and the final "GDP".
Traders and investors who trade in connection with this currency follow these reports when determining future market movement.
Another important factor that can affect the price of the British pound.
EL (GBP) may also be affected by the monetary policies adopted by the (BOE) Bank of England. Whenever the BOE considers that inflation is rising too fast, it will use the monetary policy teams to try to control the rise. During these procedures, interest rates can go up.