The pound is currently trading at a rate of 1.2039 against the euro according to Bloomberg at the time of writing.
It is a minor fall from its surge last week following the announcement of a Tory majority.
Speaking exclusively to Express.co.uk this morning, Michael Brown, Senior Market Analyst, at Caxton FX said: “Sterling experienced a modest pullback on Friday, paring roughly half of its post-election advance, in something of a buy the rumour, sell the fact reaction to the Tories’ majority.
“Nonetheless, the pound closed close to the €1.20 handle, just below a more than three-year high against the common currency.
“This week, while politics will remain in focus, investors will also receive a full health-check on the UK economy, including the latest employment, inflation, retail sales, and GDP reports.”
READ MORE: Pound to euro: Sterling at ‘highest level since 2016’ as Tories win election [GRAPH]
