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This represents a 13-month low for the pound, with the trend being attributed to upcoming announcements by the European Central Bank (ECB) and Bank of England's Monetary Policy Committee (MPC).
Speaking to Reuters, chief strategist at FXPro Michael Derks suggested there could be further gains for the euro ahead.
"Sterling is starting to represent pretty good value against the euro. But if we continue to see expectations of a rate hike diminish, then that will inevitably weigh on sterling," Mr Derks told the newswire.
It claimed that analysts expect the euro to push past 92p if the ECB tightens its fiscal policy and the MPC chooses to keep the base rate at its current level.
The Financial Times suggested an increase by the Bank of England committee is not expected when it meets this week.
Posted by Greg Secker
