» Top New Products
Loading the page...
Just two weeks ago the currency was at a six month high against the euro and the dollar.
However, the currency soon start to slip.
According to experts the pound is now far from these highs.
However, it is not all bad news for the currency, as there is a glimmer of hope according one money expert.
Laura Parsons, currency analyst at TorFX, spoke to Express.co.uk regarding the latest exchange rate figures.
She said: “While the GBP/EUR exchange rate remains far from last week’s best levels, the pound did manage to edge slightly higher on Tuesday and is currently trading in the region of €1.126.”
Today could offer an opportunity for the pound to crawl higher.
Laura said: “If today’s UK public finance data provides any cause for cheer Sterling could creep higher again, especially if the OECD economic outlook highlights any concerns about the Eurozone.”
Two weeks ago analysts began to make bets on a Brexit deal sparking a substantial rally in the pound.
However, since Theresa May’s Bexit deal was announced there has been disruption in the government.
Brexiteers have called for the deal to be scraped, claiming it does not deliver on Brexit.
Jacob Rees Mogg has been seen to lead such calls, and Nadine Dorries has claimed only two more letters are needed for a no-confidence vote in Theresa May.
She told Politics Live host Jo Coburn: “I know of key people who are holding their letters back because this deal has got not a cat in hell’s chance of getting through Westminster and they are waiting for it to fail and then put their letter in.”
Yesterday Brexit turmoil sent the pound to euro exchange rate falling.
Laura told Express.co.uk: “The pound put in a pretty mixed performance on Monday,” Parsons said.
“With no further Cabinet resignations and the number of letters needed for a vote of no confidence still falling short, Sterling was able to stabilise against most of the majors and register notable gains against the Australian and New Zealand dollars.
“After fluctuating in the morning the GBP/EUR exchange rate returned to trading in the region of €1.122.
“Any Brexit news will be the main catalyst for GBP movement today, although investors will also be focusing on.”