EUR/GBP hits 23-months low

Brexit, pound, euro, US dollar, Swiss franc

Probability of no-deal Brexit worries still growing and British pound keep falling. Versus the euro, the British currency hit 23-month low.

Last week’s by-election victory (in the Welsh constituency Brecon and Radnorshire) of Liberal Democrats left ruling Conservative party with a majority of only just one seat. This result makes it even harder to make any smooth Brexit decisions.

The risk of no-deal Brexit rising, and volatility of pound goes hand in hand. The pound was down versus the euro by 0,7 % at EUR/GBP 92.01 (the lowest level since September 2017), against the US dollar, the pound was not really far from last week’s 31-month low and oscillated around GBP/USD 1.2168. Even more significant fall has been seen against one of the safe-havens Swiss franc, where pound lost more than 11 % since May 2019.

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