The euro is currently up one per cent on the pound at £0.80

William Turvill
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Government Decision Expected On Euro
Sterling has tumbled against the euro from €1.37 in January to €1.25 (Source: Getty)

The euro is currently up one per cent on the pound.

On the pound, the euro stands at £0.80 - higher than it has closed in 2016 after starting the year at around £0.77.

Read more: Goldman warns Brexit could slash sterling by 20 per cent

Meanwhile, sterling was down nearly 0.7 per cent against the dollar at $1.43 shortly after US jobs data was released.

The pound is also currently down nearly one per cent on the Japanese yen and 0.9 per cent on the Swiss franc.

Elsewhere, the euro is up more than 0.3 per cent on the dollar at $1.14.

Read more: Sterling keeps clear of hitting 30-year low

In February, UBS calculated that the British pound could fall to equal value to the euro if the UK votes to leave the European Union.

This came after HSBC issued a stark warning about the impact of Brexit on the UK economy, predicting the pound would tumble by 20 per cent and 1.5 percentage points would be wiped off the GDP growth rate in 2017.