Pound to euro exchange rate: Sterling fails to recover following Bank Holiday weekend.
THE POUND has struggled to recover against the euro following a difficult week which saw sterling trade at €1.108. The exchange rate has failed to pick up over the Bank Holiday weekend.
It has failed to pick up after a difficult week saw lows of €1.108 amid Brexit fears.
The pound - which hit an 11-month low last week - is struggling to improve as fears of a no-deal Brexit continue.
French Prime Minister Edouard Philippe said in a statement that the UK should “prepare contingency measures” in the case of the UK leaving the EU without a good deal.
While he remained hopeful a good deal would be made, Emmanuel Macron warned that "Brexit is a sovereign choice, which we must respect”.
Theresa May, however, has claimed that a no-deal Brexit “wouldn’t be the end of the world,” after speaking to reporters.
She said:May has since headed to Africa for a three-day trip, her first trip as Prime Minister in a bid to boost Britain’s investment in the country.
Chancellor Philip Hammond said just days earlier that a no-deal would come at the cost of 10 per cent of the economy in the UK.
This includes £80 billion being lost in public finances in the country.
Other warnings from Hammond included Britons abroad losing access to UK banks which could affect payments and pension pots.
The pound could fail to pick up this week if no positive news emerges to influence the exchange rate. “If we are in that situation, we can make a success of it.”
EURO FX ECHANGE RATES TODAY
EURO = 0.8850
STG = 1.0850
USD$ = 1.2575
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