Pound FAILS to ‘extend gains’ with #Brexit proving a ‘cap’ #exchangerate latest

The pound to euro exchange rate appears to finish the week unchanged, with Brexit negotiation stalemates proving a “cap” on potential progress. Sterling is unlikely to surge before the weekend, according to experts, in news unlikely to delight Bank Holiday travellers. Earlier this week, GBP surged to its highest levels in the entirety of April. The pound is currently trading at €1.166 against the euro, according to Bloomberg, at the time of writing.

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Laura Parsons, analyst at TorFX, spoke to Express.co.uk about the currency continuity.

She said: “The pound failed to extend gains against the euro on Thursday despite Bank of England (BoE) Governor Mark Carney warning that investors are underestimating the likely pace of future interest rate rises.

“GBP/EUR remained trending in the region of €1.164 and with Brexit developments (or the lack thereof) still dominating sentiment it would take a significant lift in services output to send Sterling higher before the weekend.“

Michael Brown, of CaxtonFX, echoed similar sentiments yet hinted sterling could see a mini boost with the release of PMI figures.

He told Express.co.uk: “Sterling traded largely unchanged against the euro on Thursday after the Bank of England kept rates on hold, as expected.

Pound to euro: Sterling has stalled ahead of the Bank Holiday weekendPound to euro: Sterling has stalled ahead of the Bank Holiday weekend (Image: Getty)

“The pound largely

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