Pound to euro exchange rate: Sterling ‘bounces back’ following Brexit 'developments'
Pound to euro exchange rate: The Sterling currency has recovered from its worst levels yesterday thanks to Brexit developments. The currency had previously dropped due to fears of a “no deal” exit from the EU.
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While the pound was supported by the latest Brexit developments, demand for the euro was undermined by mixed manufacturing and services data for the Eurozone.”
Yesterday, Prime Minister Theresa May announced she would be leading Brexit negotiations with the European Union.
Dominic Raab, the newly appointed Brexit Secretary after David Davis quit down, will deputise.
In a written statement to the House of Commons, she wrote: “I will lead the negotiations with the European Union, with the secretary of state for Exiting the European Union deputising on my behalf.
“Both of us will be supported by the Cabinet Office Europe Unit and with this in mind the Europe Unit will have overall responsibility for the preparation and conduct of the negotiations, drawing upon support from DExEU and other departments as required.”