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.

Capture
Source: Google Finance

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<