The European single currency started the week well against both the US dollar and the British pound, although the recent high’s soon gave way to profit taking and a rather strong reversal certainly against sterling.
Monday saw the pound trade at its lowest level against the Euro since June 2014 at €1.2350 as concerns that the UK economy is slowing and will continue to do so until the outcome of the UK EU referendum vote is known.
June 23rd seems like a long way away, however with the opinion polls now suggesting the leave vs remain in campaigns are now on equal footing, the uncertainty has left Sterling with few friends.