Pound could sink to par with euro "within weeks"

The pound will reach parity against the euro on the back of a stream of poor news on the macro front and expectations on interest rates, market participants say.

Sterling stood at 93.4p against the euro at 17:45 UK time on Friday, up slightly from the 95.5p all-time low recorded Thursday. The euro has risen by 18.2% against the pound since the start of November.

Markets now see parity as probable, though estimates vary on when this will be reached.

Phyllis Papadavid, a senior strategist at

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