The pound reached above the 1.18 handle against the euro on Easter Monday. However, yesterday, it slid more than one percent while the euro gained ground.
Sterling enjoyed much success over the Easter weekend, reaching above the 1.18 mark against the euro on the bank holiday Monday.
This was due to the UK’s vaccination rollout and “unlocking” of the country’s roadmap set to continue as planned.
However, yesterday morning, the pound stood below the 1.18 handle and by today it has slid again.
Yesterday morning, the pound traded at 1.1773 against the euro, according to Bloomberg, while today sterling stands at 1.1617, at the time of writing.
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Despite sterling having decreased over the last couple of days, Mr Brown was yesterday optimistic as the UK’s roadmap out of lockdown is to continue next week as planned.
Speaking to Express.co.uk yesterday, he said: “Sterling briefly traded above the €1.18 handle on Easter Monday, though remains marginally south of this level this morning, as European traders prepare to return.
“The move comes amid favourable UK tailwinds with the ‘unlocking’ roadmap set to continue as planned, and as the eurozone continues to grapple with a third wave of infections…