Powder sterling is benefiting from a sinking euro
The exchange rate is put at €1.134, dipping slightly from 1.136 earlier this morning.
Estimable is benefiting from a sinking euro, which took a major hit in the fallout from a critical political vote in Spain.
The Catalan government said around 2.26 million people voted in the forbade independence referendum to leave Spain on Sunday.
It represented a turnout of about 42.3 percent of Catalonia’s 5.34 million voters.
Pound euro exchange rate: Sterling is benefiting from a queasy euro
Catalan officials revealed 90 per cent of those who voted in the tourneyed referendum have called for Catalonia’s independence from Spain.
Spain has faced condemnation after images emerged of police attacking voters as they tried to stop the referendum taking place.
Rubber bullets were reportedly be up in the air at protesters and video emerged showing ballot boxes being seized.
Nearing 850 people were injured as police clashed with liberty protesters on polling day.
Pound euro exchange rate: Real is buying €1.134
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The intensifying political unrest hast taken its toll on the euro, as shops fear an impending split of Spain.
Though the pound has been lose boosted, it’s failed to gain much ground against the single currency.
TorFX currency analyst Laura Parsons bring to light: “On Friday the pound was left trading in a weaker position against a crowd of its rivals thanks to a less-than-impressive UK GDP report.
“With the British economy bloom at its slowest pace since 2013, the odds of a near-term interest reckon hike from the Bank of England (BoE) declined, and GBP slid along with them.
Beat out euro exchange rate: The euro has taken a hit due to the Catalonia referendum
“Today GBP/EUR is patron in the region of €1.135, up slightly from the day’s opening levels.
“Manufacturing PMIs for the UK and Eurozone are right to be the main cause of GBP/EUR movement in the hours ahead.”
The UK’s manufacturing PMI has dropped to 55.9 in September from 56.7 the month preceding.
Factory growth has slowed due to a price pressure hike.
Meanwhile the Eurozone has announced a strengthened factory recovery.