Sterling has fallen in value against the euro during Forex trading today (April 12th) after it was announced Greece is to receive a rescue package from eurozone countries.
At 11:19 BST, the European currency was up 0.4 per cent to 88.14p against its British counterpart, having earlier reached a one-week high of 88.48p, Reuters reports.
Finance ministers approved a €30 billion (£26.4 billion) package to help Greece tackle its debts yesterday and the news gave a boost to the euro, which has been suffering in recent weeks due to uncertainty surrounding the country's fiscal position.
Credit Agricole analysts were quoted by the news source as saying that while the pound "has had a reasonable run of late" the currency may be in for a "testing week".
However, the pound was up against the dollar, reaching $1.5486 earlier in the day - the highest since late February.
Sterling was broadly down last week, due partially to the release of worse-than-expected economic data relating to the UK's services sector.
At 11:19 BST, the European currency was up 0.4 per cent to 88.14p against its British counterpart, having earlier reached a one-week high of 88.48p, Reuters reports.
Finance ministers approved a €30 billion (£26.4 billion) package to help Greece tackle its debts yesterday and the news gave a boost to the euro, which has been suffering in recent weeks due to uncertainty surrounding the country's fiscal position.
Credit Agricole analysts were quoted by the news source as saying that while the pound "has had a reasonable run of late" the currency may be in for a "testing week".
However, the pound was up against the dollar, reaching $1.5486 earlier in the day - the highest since late February.
Sterling was broadly down last week, due partially to the release of worse-than-expected economic data relating to the UK's services sector.