The pound to euro exchange rate fell on Friday as the question of Brexit and the future of the UK raged in Parliament. Pressure on the pound came as the British high court deemed Boris Johnson’s decision to suspend parliament “entirely legal.” Nevertheless, GBP saw “its highest weekly gains since March,” experts have revealed, despite hitting a three year low at the start of the week. Brexit continues to serve as a barometer for sterling’s movement’s but the likelihood of a no-deal appeared to lessen last week.
Pound to euro exchange rate: Sterling sees biggest weekly gains in months despite Brexit worry
An early general election could well be on the cards however - something the government will try to call for once again this week.
The pound is currently trading at 1.1116 against the euro this morning, 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 struggled on Friday, dipping around 0.4 per cent against the common currency,” said Brown.
“Markets paused for breath after a tumultuous week in which the likelihood of a no-deal Brexit fell, and the likelihood of an early general election increased.
“Nonetheless, the pound still chalked up one of its biggest weekly gains since March.
Pound to euro exchange rate: Brexit continues to serve as a barometer for sterling’s movement’s (Image: Getty Images)
“Turning to the week ahead, politics will continue to dominate for the pound, with the government set to try once more to call an early general election, before the prorogation of Parliament later this week.
“Meanwhile, across the Channel, market participants will be focused on the ECB’s latest policy decision, with policymakers poised to unveil a sweeping stimulus