{"id":120474,"date":"2026-03-10T15:56:42","date_gmt":"2026-03-10T15:56:42","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=120474"},"modified":"2026-03-10T15:56:42","modified_gmt":"2026-03-10T15:56:42","slug":"11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply\/","title":{"rendered":"GBP\/EUR: EUR slips as oil prices drop sharply"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is rising for a fourth day<\/strong><\/li>\n<li><strong>BoE is not expected to cut rates and could hike<\/strong><\/li>\n<li><strong>Euro (EUR) is falling despite oil prices falling<\/strong><\/li>\n<li><strong>Oil drops to below $85 per barrel<\/strong><\/li>\n<\/ul>\n<p>The Pound-Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is rising on Tuesday for a fourth straight day. The pair rose 0.05% in the previous session, settling on Monday at \u20ac1.1550. It traded between \u20ac1.1492 and \u20ac1.1571. At 15:30 UTC on Tuesday, GBP\/EUR trades 0.08% higher at \u20ac1.1559.<\/p>\n<p>The pound is rising against the euro and the US dollar amid an improved market mood after Trump hinted at the end of the Middle Eastern war, bringing oil prices sharply lower.<\/p>\n<p>Despite oil dropping from an almost four-year high of $120.00 yesterday to below $85 a barrel today, the Bank of England is likely to remain cautious about rate cuts.<\/p>\n<p>Earlier dovish expectations for the Bank of England have now been replaced with the market seeing one of the largest hawkish repricings among G10 central banks.<\/p>\n<p>However, should oil prices continue to fall, this may see the markets start to reconsider the possibility of rate cuts this year from the BoE.<\/p>\n<p>UK fundamentals are not great amid rising UK unemployment. UK GDP data is due later this week for further insight into the health of the UK economy.<\/p>\n<p>The euro is falling against sterling but rising against the US dollar as markets react to a crash in crude oil prices.<\/p>\n<p>Europe is heavily reliant on imported energy and so remains vulnerable to swings in energy prices. Policymakers from the ECB struck a cautious tone about moving too quickly with rates.<\/p>\n<p>ECB Martin Kocher said that the central bank must not act too swiftly and needs to monitor the situation in the Middle East. Meanwhile, Madis Mueller noted that the probability of the next central bank move being a rate hike has increased, but there is no rush to make such decisions.<\/p>\n<p>Prior to the Iran war, the market didn\u2019t expect the ECB to move on rates this year. However, the market now sees a 25 basis-point rate hike in December.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is rising for a fourth day BoE is not expected to cut rates and could hike Euro (EUR) is falling despite oil prices falling Oil drops to below $85 per barrel The Pound-Euro (GBP\/EUR) exchange rate is rising on Tuesday for a fourth straight day. The pair rose 0.05% in the previous session, [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3629,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":{"0":"post-120474","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-eur-gbp","11":"tag-gbp","12":"tag-gbp-eur"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: EUR slips as oil prices drop sharply - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: EUR slips as oil prices drop sharply\",\"datePublished\":\"2026-03-10T15:56:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply\\\/\"},\"wordCount\":350,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100058-usd-raises-v-gbp-oil-down.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2026\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/11004-gbp-eur-eur-slips-as-oil-prices-drop-sharply\\\/\",\"name\":\"GBP\\\/EUR: EUR slips as oil prices drop sharply - 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