Pound Slips as Lower Gas Prices Lift Euro

The Pound to Euro exchange rate started the week on a down note due to easing concerns over Europe's energy outlook, which helped support the single currency.

At around €1.1698, the GBP/EUR was trading at lower levels than Monday's opening figures.

The Euro saw modest gains after optimism surrounding a US-Iran ceasefire prompted another decline in European natural gas prices.

The prospect of sustained de-escalation fueled hopes that key shipping routes could soon return to normal, easing concerns over energy supplies and driving gas prices lower.