The pound to euro exchange rate increased for the first time in three days on Thursday. Political uncertainty has been attributed to GBP’s poor performance in recent weeks. A dovish set of minutes from the European Central Bank’s latest policy meeting also served to put sterling under pressure. Furthermore, the pound’s gains have been held back this week by Tuesday’s debate between Conservative leadership candidates Boris Johnson and Foreign Secretary Jeremy Hunt
Pound euro exchange rate: GBP makes gains - how to get the best travel money rate for holidays
Johnson refused to rule out suspending Parliament for a no-deal Brexit, saying that it would be “absolutely bizarre” to take it off the table.
Experts have cautioned that the pound is unlikely to show much further improvement today.
The pound is currently trading at €1.113 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 recorded its first daily gain in three days against the euro on Thursday,” said Brown.
“The single currency came under pressure after a dovish set of minutes from the ECB’s latest policy meeting.
Pound euro exchange rate: Political uncertainty has been attributed to GBP’s poor performance