The pound to euro exchange rate saw the GBP currency fall against EUR today, Tuesday 30 January.
Pound Sterling is converting to €1.1355. in figures accurate at 7:30am.
This is lower compared to yesterday, when the pound converted to €1.1394.
Speaking to Express.co.uk, Laura Parsons, TorFX currency analyst said the pound could come back up today.
Pound to euro exchange rate: GBP has declined ahead of Eurozone data
‘The pound extended its decline against the euro over the course of Tuesday, dropping back to the €1.135 level.
According to Laura, this has come “ahead of a run of influential ecostats for the Eurozone.”
“Today’s German inflation numbers could help Sterling creep back towards last week’s highs if they show a decline in consumer price pressures.”
“However, the Eurozone’s growth stats are expected to be sturdy and could limit any EUR losses.”
Pound to euro exchange rate: Bloomberg graph shows its decline today
Yesterday, Laura said there was “positive potential” for the pound this week.
She noted the pound stayed at “post referendum highs” against the US dollar.
She said: “After peaking at an eight-month high of €1.150 last week, the GBP/EUR exchange rate dropped from its best levels in the wake of the European Central Bank’s (ECB) rate decision.
“Speculation about the future of ECB monetary policy drove the euro higher across the board on Thursday.
Pound to euro exchange rate: Sterling may recover later this week, an analyst predicts
“The common currency held gains heading into the weekend.
“With UK data lacking, speeches from ECB officials may be the main cause of GBP/EUR fluctuations in the hours ahead.
“Any vaguely hawkish remarks could see Sterling lose more ground to the euro.
“However, the pound remains at post-referendum highs against the US dollar and has the potential to extend last week’s bullish run if sentiment surrounding the UK’s economic outlook remains positive.”