PUBLISHED: 07:47, Wed, Jan 8, 2020 | UPDATED: 08:07, Wed, Jan 8, 2020
Pound euro exchange rate: “Sterling remained rangebound against the euro on Tuesday" said experts (Image: Getty Images)
The pound to euro exchange rate showed little movement on Tuesday. The “rangebound” nature of GBP was due to a lack of economic releases, experts have said. However, that could change today due to political developments.
UK Prime Minister Boris Johnson is meeting today with EU Commission President von der Leyen.
They will be in discussion over the timetable for Brexit UK-EU trade negotiations.
If a “clear timetable” looks likely to be in place, the pound could benefit from a boost, said experts.
The pound is currently trading at 1.1793 against the euro, according to Bloomberg at the time of writing.
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Pound euro exchange rate: The pound is currently trading at 1.1793 against the euro (Image: Bloomberg)
Michael Brown, currency expert at Caxton FX, spoke to Express.co.uk regarding the latest exchange rate figures.
“Sterling remained rangebound against the euro on Tuesday, with little in the way of economic releases or impactful headlines to impact the pound,” he said.
“Today, attention will centre on political developments, with EU Commission President von der Leyen set to hold discussions with PM Johnson over the timetable for UK-EU trade negotiations.
“Signs that a clear timetable is in place for the negotiations may support sterling, dampening fears of a reversion to WTO trading terms at the end of the year.”