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Pound To Euro Exchange Rate Gains As Sterling Sees Best Week Since 2009

The FTSE 100 index sank deeper into the red, closing down 97.25 points to 6,693.26, as US national opinion polls showed the race to the White House was tightening between Donald Trump and Hillary Clinton. 

The surge in the pound is the exact opposite market reaction to last week when the High Court in Belfast ruled in favour of the Government in a similar case.

The landmark legal challenges were brought by a group of cross-party MLAs and a Troubles victims’ campaigner, Raymond McCord, who were worried Brexit could reduce EU funding for peace projects in Northern Ireland. 

Justice Maguire rejected the argument that the Good Friday Agreement had given sovereignty of Northern Ireland over to its people who would suffer a “catastrophic effect” by leaving the EU.

With a barrier to the triggering of Article 50 removed, Sterling plunged.

Article source: http://www.huffingtonpost.co.uk/2016/11/05/pound-to-euro-exchange-rate_n_12815166.html?utm_hp_ref=uk-politics&ir=UK+Politics