The pound is up against the euro this morning, December 29.

The GBP currency now converts to €1.1270, in figures correct at 7:20am. 

This represents a slight increase compared to yesterday and the day before, when it stayed at €1.1264.

This slump represented a month-long low for the sterling currency. 

Pound to euroGetty

Pound to euro exchange rate: Sterling is up after a slump earlier this week

The pound is likely boosted by Britain’s positive FTSE 100 data, released yesterday. 

The FTSE 100 index, also known as the Financial Times Stock Exchange 100 index, saw the UK stock market at an all-time high.

It hit 7,633 points for the first time ever after it continued to make gains throughout the day. 

It comes as rumours fly of a sector by sector Brexit trade agreement with the EU.

A Whitehall source spoke to The Times of the importance of getting the right Brexit deal.

“The last thing we want is to strike a deal that then has to be renegotiated a few years down the line.”

Such Brexit progress has been shown to have a positive effect on the value of the pound against the euro in recent months.

Sigmar Gabriel, Germany’s foreign minister, has said he backed the idea of Britain being given a bespoke Brexit deal.

Pound to euro exchange rate graphBloomberg

Pound to euro exchange rate: This graph shows sterling’s rise today

“I can’t imagine Turkey or Ukraine becoming EU members in the next few years,” he told the Funke newspaper group.

He added Britain’s Brexit deal may serve a “model” for other non-EU countries who wish to trade with Europe.

”If we get a smart agreement with Britain regulating relations with Europe after Brexit, that could be a model for other countries – Ukraine and also Turkey.”

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