Pound to euro exchange rate could 'be set to slide today' due to UK employment figures.
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POUND to euro exchange rate is being kept low due to Brexit uncertainties and could slip further down today, experts have warned.
Pound to euro exchange rate “could be set to slide today” if UK unemployment figures are not positive.
Disappointing wage growth might also have a knock-on effect on interest rates
Fresh Brexit uncertainties kept the GBP/EUR exchange rate trading on the cusp of €1.130 on Monday, and the pairing could be set to slide today if the UK’s latest employment figures confirm a decline in growth in average earnings.
Disappointing wage growth might prevent the Bank of England (BoE) from increasing interest rates when it meets in August, so investors will be hoping for a positive surprise.
“UK unemployment is expected to remain at an over 40-year low.
“Speeches from BoE officials, including Governor Mark Carney, could also have an impact on the GBP/EUR exchange rate.”
The pound was holding steady against the euro yesterday morning, with sterling sentiment still being buoyed by Donald Trump’s backtracking on Friday regarding the possibility of a post-Brexit UK-US trade deal.
Speaking in a joint press conference with Theresa May, President Trump appeared more supportive of her Brexit proposals, suggesting he would back her whatever Brexit agreement she wishes to pursue.