Home Travel Pound to euro exchange rate: Sterling ‘softens’ but coronavirus remains focus

Pound to euro exchange rate: Sterling ‘softens’ but coronavirus remains focus

George Vessey, Currency Strategist at Western Union, commented: “Although no changes to policy are expected to be announced, the BoE is actively reviewing the prospect of Negative Interest Rate Policy (NIRP), which would likely weaken the pound.

“For now, it seems more likely the central bank will await more clarity on UK-EU trade talks before implementing NIRP, although money markets are already pricing in negative rates for early next year.

“Final UK PMI surveys will also be released this week, with manufacturing PMI today expected to confirm the sector remains in expansion.”

Brexit continues to play a role, too, and Vessey pointed out that a trade deal could see the pound soaring.

Source Daily Express :: Travel Feed

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