Sterling is doing slightly worse than yesterday, but still remains around the 1.15 handle. This is at the bottom of the trading range, according to one expert.
Mr Brown said: “Sterling softened a little against the euro yesterday, though continues to find strong support around the 1.15 handle, which is the bottom of the trading range that has been in play since mid-March.”
The currency expert mentioned that Private Mortgage Insurance surveys are taking place today within the financial calendar, but these are not expected to have an impact on the exchange rate.
He explained: “Today sees the release of ‘flash’ PMI surveys, which are unlikely to significantly move the needle, given expectations of similar economic performance on either side of the Channel.”
Sterling has struggled all week, despite experiencing its best day of the month on Monday.
Since Monday, the pound has continued to steadily decrease against the euro.
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Yesterday, Mr Brown said: “Sterling endured a rather tedious day of trade yesterday, treading water just shy of the 1…