Pound to Euro Rate Drops to Lowest Point For Two Months

As the start of the week got underway, the Pound took a fall after Brexit talks were continuing to fall flat. Further news that Boris Johnson was willing to walk away also placed additional selling pressure on the pound. Despite this, talks are continuing so there is a glimmer of hope that a deal can be made as this will help to put an end to the sell-off. However, as trading came to a close on Monday the currency finished the day at 1.1026 against the Euro and 1.3355 against the US Dollar.

Once again, Brexit was continuing to cause problems for the Euro as the single currency also fell at the start of trading. However, it did recover later in the day following the news that German industrial production figures were better than expected, giving investors a much-needed boost.

The US Dollar had a different start to the day thanks to its struggling peers, helping to show a glimmer of hope after a disappointing week last week. This was short-lived as the safe-haven currency reacted to the continuing increase in coronavirus cases across the country. So, the direction of the Greenback today will be determined by market sentiment and the hope that a downbeat mood helps it to make some gains.

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