The pound slipped back against the euro after the latest Brexit Bill amendments opened up the possibility of a no deal scenario by the end of 2020.
On Christmas Eve the pound dipped below € 1.17; or the converse 85.5p now buys one euro. The post election bump in the UK was quickly dampened by the new UK government moves and bullish talk of concluding the much awaited trade agreement deal by a deadline of December 31st 2020. Most experts agree that such a deadline cannot be met.
Expect more red lines, deadlines and headlines over the coming year.
Sterling today is exchanging on FX markets at £1 = €1.18.