The pound is at risk of another “dip” today, according to finance experts. Sterling pushed to a two-year high against the euro last Thursday, yet the impressive milestone has reversed during a new week of trading. The blame, according to finance experts, lies with the the release of PMI construction figures, with further statistics expected today. The pound is currently trading at €1.161 according to Bloomberg, at the time of writing.
Laura Parsons, currency analyst at TorFX, spoke to Express.co.uk about potential more bad news to come today.
“The GBP/EUR exchange rate spent Monday fluctuating around €1.163.
“While the pound started the day on a fairly strong footing, it was undermined by the UK’s latest construction PMI, which slipped into contraction territory.
“The euro, meanwhile, was supported by a pick-up in producer price pressures in the Eurozone.
“If today’s UK services PMI also falls short of the mark the pound could dip back below €1.160.”
