The value of the pound has fallen so low that soon it could be worth just one euro.
The lowest the value of the pound has ever been was €1.03 during the credit crunch in 2008, but forecasters at HSBC are predicting parity with the euro within the final 3 months of the year, continuing into 2018. Some airport bureau de changes are already offering less than €1 per £1.
Euro Gaining Strength
The euro is getting stronger, and according to ING, a “negative psychology” has developed around the pound in financial markets. That said, most analysts expect to see the pound remain around the €1.10 mark for the foreseeable future.
More on the pound’s weakening against the euro can be found on The Telegraph’s website.