The pound euro (GBP/EUR) exchange rate fell sharply this week, dropping below €1.18 to its lowest level since August.
The pound dropped as the mood in the market soured amid escalating trade fears. China announced retaliatory trades against Trump’s trade tariffs of 34%.
The UK still hopes for a trade deal to undo the 10% trade tariffs quickly.
UK GDP data is due next week and is expected to rise 0.1% MoM in February.
The EUR rose against the pound but fell against the USD on Friday as trade worries continued to impact global markets.
The European Union could retaliate is talks don’t go as planned.
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