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Pound to euro exchange rate: Can sterling recover after plummeting to three-month low?

Pound to euro exchange rate: Can sterling recover after plummeting to three-month low? 1

Thomson-Cook continued: “Although the coronavirus might not be cause for immediate concern when it comes to the strength of the pound, the unprecedented Brexit journey and trade negotiations will continue to cause fluctuations for currency.

“The EU General Affairs Council has now agreed a mandate for trade negotiations with the UK, and discussions are set to start next week.

“The outcome is likely to have a big impact on the strength of the pound, which has seen some gains since the UK left the EU at the end of January.

“There is a huge opportunity for the pound to gain strength over the course of the transition period, although much work is needed for it to return to its pre-referendum heights which it has yet to return to.

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“The markets will be keeping a very close eye on the pound’s reaction to any talks and agreements.”

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