Over the last few days, we have seen quite a shakeup in parliament, with both Boris Johnson and David Davis resigning in the midst of Brexit strategy talks.
Following on from the resignation of both cabinet members concerns were raised amongst euro investors. The pound euro exchange rate is currently trading at €1.131 according to XE.com. The last few days have seen a sharp drop off on Monday, following a substantial recovery yesterday and it seemed to be somewhat more stable on Wednesday.
Euro investors are apparently reluctant to make any moves as global trade tensions continue.
The US decided to go ahead with their plans to implement tariffs on a further $200bn worth of Chinese exports. Markets have been left stunned. Whilst these tariffs are aimed at China, euro investors are worried they may be affected next.
President Trump met on Wednesday with EU leaders at the Nato summit with the president expected to push his allies on trade again.
If you are concerned or would like to discuss this further, please call us on 01202 676983 and we will be happy to discuss the week’s events in detail.
For further information on this topic, please go to: https://www.express.co.uk/finance/city/987088/Pound-euro-exchange-rate-GBP-EUR-currency-Brexit-Theresa-May