Today, according to the Bank of England, the pound to euro exchange rate is 1.1240 eur to gbp.
This is quite drastically lower than the high of 1.1750 in the last 52 weeks.
However, it is a small improvement on the lowest rate of the past year, 1.1000.
Yesterday morning the pound was trading at 1.123 against the euro, according to Bloomberg.
Pound to euro exchange rate: Currency dips lower after Boris causes ’short-lived’ Brexit surge
The pound is at the mercy of global politics, which affect the power of the British currency.
Unsurprisingly, Brexit is taking its toll on the strength of the pound.
The Conservative leadership contest is also having an effect on the currency.
Michael Brown, currency expert at Caxton FX, spoke to Express.co.uk about the pound to euro exchange rate yesterday.
He said: “Sterling closed broadly unchanged against the euro on Wednesday, with a lack of major economic releases from either side of the pairing resulting in an absence of volatility.
Pound to euro exchange rate: Currency dips lower after Boris
