Best Pound To Euro Exchange Rate Since Mid 2018

UPDATE: The Pound-to-Euro exchange rates accelerated to a fresh 19-month best to close out Thursday trading, peaking at €1.1602 before pulling back slightly. At the time of writing, GBP/EUR was last seen trading at €1.1570.

In the UK, Brexit remained the key driver of price action with the Sterling buoyed by a report in the Sun newspaper that the Democratic Unionist Party (DUP) were planning to back PM May’s Brexit plan B.

Meanwhile the Euro (EUR) was simultaneously softened following the European Central Bank’s (ECB) latest policy meeting. The subsequent press conference saw ECB president Mario Draghi forecast weaker than expected growth in the near-term amid growing downside risks to the economic outlook.