The pound to euro rate is 0.856% lower with 1 GBP = 1.1307 EUR.
The pound to dollar rate is 0.148% higher with 1 GBP = 1.6243 USD.
"The Pound declined against the Euro and the Dollar, while the UK currency slumped to a fresh record low versus the relentless Swiss Franc, despite efforts from the Swiss National Bank to weaken the currency. The Bank said in a statement that it will "significantly increase" the supply of liquidity to the money market and expand deposits to 120 billion Francs," says a note from exchange rate analyst Adam Solomon at UK money transfer company Tor Fx.
Pound to euro gave away a cent and a half as European equities bounced and the euro benefited from a weaker dollar.
Stronger European equities helped support the euro yesterday as the panic caused by successive sessions of heavy stock losses subsided. The euro was also the key beneficiary of a dollar sell off in response to a dovish US Federal Reserve statement.
UK manufacturing and industrial production data was disappointing yesterday. Today’s Bank of England inflation report could well weaken the pound further today. This pair is trading at €1.13, two cents lower than the peaks reached earlier in the week.
