Pound euro exchange rate unfazed by US election but economic hit of lockdown ...

THE POUND has seen little change despite volatility surrounding the US election and ongoing Brexit trade negotiations. However, as lockdown officially begins in the UK, what does this mean for GBP?

PUBLISHED: 08:09, Thu, Nov 5, 2020 | UPDATED: 09:39, Thu, Nov 5, 2020

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The pound to euro exchange rate has “hardly moved” despite a week of volatility in the markets. The US general election has swept the world up in its grasp, as the votes are slowly counted.

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Yet the full extent of its impact on the GBP won’t be known until the official winner is named.

Brexit trade talks have also played a key role in deciding the exchange rate in recent weeks.

Yet, with these talks on hold temporarily, traders may be shifting their attention to the economic impact a second draconian lockdown will have on the UK.

The Bank of England is due to make its QE programme announcement today, with suggestions it may further lower interest rates on loans.

READ MORE: Pound to euro exchange rate: GBP on a 'knife-edge' amid US election & 

pound euro exchange ratePound to euro exchange rate: The pound remains steady as lockdown hits (Image: DX)

Pound to euro exchange ratePound to euro exchange rate: The exchange rate according to Bloomberg (Image: Bloomberg)

Despite this, the full extend of the lockdown measures on the UK are yet to be seen.

The pound is currently trading at a rate of 1.1089 against the euro according to Bloomberg at the time of writing.

Michael Brown, currency expert at Caxton FX, spoke to Express.co.uk and shared his exclusive insight into the current exchange rate.

"Despite all the uncertainty and volatility of the last few days, caused by the presidential election, sterling-euro has hardly moved, with the market still awaiting fresh impetus from the conclusion of post-Brexit trade talks, which have now been paused until next week," he said.

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