The pound to euro exchange rate hit high levels on Friday before falling again on Monday. The slump came after ongoing “tense” cross-party talks between Conservatives and Labour regarding Brexit appeared to fail to come to fruition. Westminster headlines could impact the currency today as could a speech by ECB President Mario Draghi, experts have said. The pound is currently trading at €1.166 against the euro, according to Bloomberg at the time of writing.
Pound to euro exchange rate: GBP shows little sign of movement as Brexit stalls
Michael Brown, currency expert at Caxton FX, spoke to Express.co.uk regarding the latest exchange rate figures.
“Sterling traded largely unchanged against the euro on Tuesday as markets began to express a degree of scepticism over the political will within both the Conservative and Labour parties to reach a cross-party deal on Brexit,” Brown said.
“Increased optimism over a compromise agreement had spurred the pound’s gains on Friday, hence sterling’s pullback owing to a lack of progress.
“Markets have little in the way of economic data to chew over today, with no major releases due from either side of the Channel.
“Focus will likely remain on headlines stemming from Westminster, in addition to a broader focus on trade rhetoric from Washington DC as President Trump continues to ramp up threats of tariffs on Chinese goods.”
The pound was also helped by the euro being weakened on disappointing Germany factory data.
Pound to euro exchange rate experienced
