Pound to euro exchange rate: Sterling TUMBLES as inflation hits five year high
The pound has struggled to climb against the euro as recent data shows inflation has reached a five year high.
It is currently trading at €1.121, dropping from yesterdays figures of €1.129.
The newest data revealed inflation is to peak at 3.1 per cent in October, after increasing from 3 per cent in September.
Figures this high were last seen in March 2012.
The Bank of England predicts a high of 3.2 per cent before falling later this month.
With the UK’s target of 2 per cent, anything above or below this means that Mark Carney, Governor of the Bank of England, must write to Philip Hammond... read more
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