EURGBP parity is upon us! UK Bureaux de change offering 0.99 EUR against GBP

Some deliverable FX firms have been offering EURGBP exchange rate of almost one to one. Volatility has reversed this to some extent however parity has now been reached at certain points during the trading day

Indeed it may be deliverable FX, however deliverable FX rates are a good indicator of the market value of currency, and can certainly be used for measuring the values of major pairs on electronic trading platforms.

Today, across the UK, certain deliverable FX firms have begun offering the Euro against the Pound on an almost one to one basis. This also means that now, the gap has closed between three majors – the British Pound, the US dollar and the Euro, which are worth very nearly the same as each other, if these rates are any indicator.

Caxton FX, a major British deliverable FX firm, has been offering a rate of 0.9915 Euros to the Pound at Luton and Stansted airports.

FinanceFeeds today spoke to an investor from the UK who is currently purchasing a holiday home in Portugal’s Algarve for the purpose of renting it out to British tourists. He used Caxton FX in order to transfer the capital (170,000 Euros) to purchase the home, and was given a rate of 0.98 Euro to the Pound.

An enquiry at MoneyCorp, another deliverable FX firm by FinanceFeeds today revealed a huge gap between the locations and companies. MoneyCorp offered FinanceFeeds an exchange rate of 1.11541 this evening.

There is a degree of volatility in the EURGBP pair currently, and the Pound has made some ground however it is clear that parity is indeed here at certain points during the trading day and at certain deliverable locations, signalling the lowest GBP value for 3 years.

Indeed, confidence is high in Britain’s post-Brexit future, and it will indeed be interesting to note how long this level pegging with the Euro lasts before the Pound rockets back to strength.

Source: Google Finance

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading


DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.