Pound to euro exchange rate plummets dramatically – GBP ‘extremely vulnerable’

Pound to euro exchange rate plummets dramatically – GBP ‘extremely vulnerable’

The pound is currently trading at 1.0837 against the euro, according to Bloomberg at the time of writing.

Michael Brown, currency expert at international payments and foreign exchange firm Caxton FX, spoke to Express.co.uk regarding the latest exchange rate figures this afternoon.

“Sterling has now pared all of its earlier advance, recently hitting session lows against the common currency as sentiment flips to risk-off once again with investors continuing to closely monitor the coronavirus pandemic,” said Brown.

“The latest move to risk-off seems to come as a result of a ‘buy the rumour, sell the fact’ reaction to yesterday’s US fiscal stimulus package.”

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Published at Wed, 25 Mar 2020 14:47:00 +0000