The pound plummeted against the euro last Thursday before recovering strongly. The improvement came after it was announced further Brexit talks between the UK and European Union (EU) will take place. This raised hopes of a deal being agreed between the two sides before the 29 March deadline. The pound is currently trading at €1.142 against the euro, according to Bloomberg at the time of writing.
The GBP/EUR exchange rate was trading in the region of €1.141 ahead of the release of the UK’s latest growth figures
Laura Parsons, currency analyst at TorFX
Laura Parsons, currency analyst at TorFX, spoke to Express.co.uk regarding the latest exchange rate figures.
“The GBP/EUR exchange rate was trading in the region of €1.141 ahead of the release of the UK’s latest growth figures,” Parsons said.
“If the report confirms that growth slowed in the fourth quarter of 2018 (as forecast by economists) the pound could spend the start of the week trending lower.
“Data from the Eurozone is limited ahead of Wednesday’s industrial production stats.”
Last week, the Bank of England downgraded its 2019 growth forecast to 1.2 per cent - the lowest level since the financial crash 10 years ago - citing Brexit uncertainty.
The European Commission also made sharp cuts to its growth and inflation forecasts on Thursday, sparking fears over the strength of the eurozone.
Pound to euro exchange rate: GBP could ‘trend lower’ today as Brexit uncertainty continues (Image: Getty Images)
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