The pound to euro exchange rate experienced a dramatic slump last week but remained mostly unchanged yesterday, experts have said. This week experienced a “quiet” start but “stiff political headwinds” are still a great concern. Brexit continues to serve as a barometer for GBP's movement, with two eventualities poised to impact the currency. The possibility of Brexit Withdrawal Agreement passing in the first week of June combined with the chance a hardline Brexiteer replacing Prime Minister Theresa May are “dampening the chances of a prolonged pound rally,” experts warned. Related articles Pound LIVE: Sterling clawing back losses against euro Pound euro exchange rate: GBP rises against EUR Pound to euro exchange rate: GBP stabilises after dramatic slump - could Brexit rock it? The pound could slide against the euro today following the release of the UK Treasury Committee inflation report hearings. If the report is more pessimistic than expected, and doubts are raised about whether inflation will hit the BoE’s target, there could be sentiment in sterling’s slide. The pound is currently trading at €1.140 against the euro, according to Bloomberg at the time of writing. 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 Monday, as FX markets got off to a quiet start to the week with no major economic releases or impactful news headlines," he said. “However, stiff political headwinds remain, dampening the chances of a prolonged pound rally - namely the slim chances of the Brexit Withdrawal Agreement passing in the first week of June along with the possibility of a hardline Brexiteer replacing PM May in Number 10. Pound to euro exchange rate experienced a dramatic slump last week but has remained mostly unchanged (Image: Getty Images) “The day ahead sees little in the way of major economic releases from either side of the channel, though markets will glance over May’s preliminary eurozone consumer confidence figures. “Focus will remain on political developments, especially ahead of Thursday’s European Elections, which are seen by some as a proxy second referendum on membership of the European Union.” Theresa May wrote in the Sunday Times at the weekend that her Brexit Withdrawal Agreement will be a “bold offer” and that she would like the House of Commons to consider it “with a fresh pair of eyes – and to give it their support.” However, Labour leader Jeremy Corbyn stated that his MPs would oppose the bill, making it “very difficult” to see it making any progress. May has said that if the bill is not passed, the UK would resort to the default position and leave the European Union on 31 October without a deal - a prospect which is starting to panic business leaders and sterling traders. Related articles Holidays: Beat Brexit holiday worries and save money with this hack Pound to euro exchange rate: Plummeting GBP feels Brexit pressure Pound to euro exchange rate: The pound is currently trading at €1.140 against the euro (Image: Bloomberg) Pound to euro exchange rate: Theresa May said her Brexit Withdrawal Agreement will be a “bold offer” (Image: Getty Images) Pound to euro exchange rate: GBP stabilises after dramatic slump - could Brexit rock it? Holidaymakers are urged to make the most of the current exchange rate and sell any spare euros. Paul Brewer, CEO of Currency Online Group, said: “Despite the Brexit deadlock and the weak market, now is actually a very good time to sell any spare currency that you have. "The downward pressure on the pound means that you’ll get a much better rate when selling in exchange for GBP. “At the moment we’re advising all clients to offload euros before any possible resolution to the Brexit negotiations starts to give the pound a bit of a bounce. “We’re all looking at Brexit and any possible sign that a shift might occur either way. The pound hasn’t reached its pre-Brexit peak since the referendum and whilst it’s unlikely to get back to that level any time soon, a breakthrough in the Brexit process is sure to get it moving upwards again.”All rights reserved for this news site express.co.uk and under his responsibility