The pound to euro exchange rate is set for further fluctuation as a new month begins, according to experts. Ongoing political uncertainty over Brexit, and the UK’s departure from the European Union, is sending sterling on a rollercoaster ride that’s set to continue. Sterling is currently trading at €1.162 against the euro according to Bloomberg, at the time of writing. Today, Prime Minister Theresa May and the House of Commons will embark on a second series of indicative votes after a third meaningful vote on her withdrawal agreement was defeated on Friday.
Finance experts believe if no solution is found from the votes, which are not legally binding, then the pound will feel the hit.
Laura Parsons, currency analyst at TorFX, spoke to Express.co.uk ahead of the Westminster action and said: “After another week of Brexit drama the GBP/EUR exchange rate briefly dipped below €1.16.
“Last week’s Brexit votes all came to nothing, so another set of indicative votes are due to be held today.
“If no one option commands a majority today the pound could be pressured lower again as uncertainty mounts ahead of the UK’s new exit date of 12th April.”
Currently, the UK is set to leave the EU on a no deal basis on that date, if no alternative can be found.
Pound to euro: The pound is set to be pressured lower as Brexit chaos continues (Image: