Pound Euro Exchange Rate Slumps as Britain’s Outlook Hit by Intensifying Uncertainty
Despite hopes for optimistic developments boosting the Pound Euro (GBP/EUR) exchange rate last week, the pair is plunging again this morning. Investors are selling Sterling (GBP) as Britain’s coronavirus and Brexit situation worsens.
GBP/EUR has been on a rollercoaster ride this month. Since last week alone, GBP/EUR has jumped from the level of 1.0921 to 1.1031 – a cent – before falling again this morning.
Last week saw GBP/EUR touch on a fortnight high of 1.1129 as well. However at the time of writing those highs seem far off, and GBP/EUR is trending over two cents lower in the region of 1.0884.