Sterling has remained volatile against the euro in reaction to Brexit news with currency analysts predicting further turbulence for the pairing as Mrs May grapples with her withdrawal deal. The pound is floundering around levels of €1.120 against the euro today. As of 08:45 GMT, the pound is trading at €1.1221 having clawed back ground after dropping earlier today to €1.1198, according to data from Bloomberg. Sterling plunged to its lowest level in around 18 months against the dollar yesterday, trading at $1.2657.
Sterling has recovered somewhat today and is trading at $1.2733.
In a string of humiliating defeats for the Prime Minister, it was decided yesterday the Government will be forced to allow MPs to have a say in what happens next if the Brexit deal is voted down next week.
Ministers also had to agree to publish the “final and full” legal advice to Cabinet on the withdrawal agreement.
The Government was found to be in contempt of Parliament for not already doing so.
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Nik Storonsky, Revolut CEO, warned to expect futher fluctuation in the pound euro exchange rate as Mrs May battles to keep her Brexit agenda on track.
He said: “[The pound] will remain under increased pressure this week as Brexit uncertainty continues.
“Many people will be paying close attention to parliament as Theresa May debates the Brexit deal ahead of a crucial vote on December 11th.”
Today will see the Brexit legal advice published following the contempt ruling yesterday.
Commons Leader Andrea Leadsom has said the legal advice to Cabinet would be published at around 11.30am today.
Mrs May will then face Labour leader Jeremy Corbyn in the Prime Minister’s Questions.
The Prime Minister is aiming to win support from MPs ahead of a crucial vote on December 11.
If the Tory leader loses the crunch Brexit vote next Tuesday, the Government has 21 days to come back to the Commons to outline what happens next.