GBP/EUR hits new nine-month high

GBP/EUR hits new nine-month high

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Sterling has hit a new high against the euro, last seen in April 2020

Many believe the current success of the UK vaccination programme combined with Brexit ambiguity disappearing has caused this move. 

The pound has been on a steady rise against both the euro and the US dollar since early 2020, when levels were just 1.06 GBP/EUR and 1.20 GBP/USD. This is an 8.5% appreciation against the euro and over 20% against the USD. As the future trading relationship between the UK, the US and Europe continues to evolve, we anticipate the potential of further volatility in the coming months.

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