The pound will be influenced by the UK manufacturing PMI which will be released today. Experts have wanted the new data could see the euro strengthening against the pound. The pound is currently trading at €1.111 against the euro, according to Bloomberg. Laura Parsons, currency analyst at TorFX, spoke to Express.co.uk regarding the latest exchange rate figures.
Pound to euro exchange rate: GBP to weaken against euro today
“The GBP/EUR exchange rate is starting off the New Year trading in the region of €1.111,” Parsons said.
“Today’s UK manufacturing PMI is expected to show a decline in output.
“If the report prints as expected the pound could weaken against the euro.
“Other data to look out for includes German retail sales and the Eurozone’s manufacturing PMI.”
This comes as authorities warn the euro could be scrapped in 2019 if reform does not take place.
The Centre for Economic and Business Research said in its annual predictions for 2019 “internal contradictions” would force the Eurozone to “integrate economically” or “risk breaking up.”
Pound to euro exchange rate: GBP to weaken against euro today (Image: Getty Images)
It added: “It is possible to defer the confrontation for a year or two but the boil will have to be lanced at some point since the Italians have clearly reached the point of austerity fatigue.”
