The pound has bounced back, slightly.
After a fairly dismal day that has seen sterling slide by as much as 0.9% against the dollar to trade as low as $1.25 - and undo a lot of last week's gains, the currency recovered some ground this afternoon.
It's now down 0.1% against the dollar and has gained slightly against the euro.
Currently, £1 is worth $1.26 and €1.15.
The pound has regained a little ground against the dollar and the euro following comments by Bank of England policymaker Michael Saunders about post-Brexit interest rates but is still trading down.
Sterling is off 0.24% against the dollar at $1.2294. It is down 0.27% on the euro at €1.1255.
Ricardo Evangelista, senior analyst, at ActivTrades, has also been looking at the euro after the European Central Bank announcement on Thursday.
"Despite the announcement of a rate cut, the start of a new asset purchase program and fresh bank incentives, the markets appear, for now, unwilling to walk away from the single currency.
"The European Central Bank sent out a clear message, that no effort will be spared to create more accommodating conditions for growth and to closer to the target inflation; this appears to have inspired confidence in investors, that better days lie ahead for the continent’s economy.
At the same time, positive signs coming from both Washington and Beijing have lightened up market sentiment, leading to greater risk appetite, which is beneficial for the euro".
The value of the pound remained in the doldrums today as investors scrabble to sell the currency amid worries that a general election in the UK could add to Brexit uncertainty.
Now worth less than $1.20, the pound has lost 20% of its value against the dollar since the Brexit referendum and is regularly trading at its lowest level since 1985, barring a brief "flash crash" in October 2016 when it fell as low as $1.15.
The pound is down 0.4% against the euro and 0.7% against the dollar.
After a tumultuous week that has seen the value of the pound fluctuate against both the euro and the dollar, sterling has been relatively stable so far today.
At present £1 is worth €1.10 and $1.22 on currency markets.
The value of the pound has fallen this morning following news that Prime Minister Boris Johnson is planning to suspend parliament in a move that is expected to prevent opposition leaders from passing a law to stop a no-deal Brexit.
The pound is down 0.4% against the euro and 0.5% against the dollar. So £1 is now worth €1.10 and $1.22.
The pound continued to trade lower against the dollar and the euro amid fears about a no-deal Brexit.
Prime Minister Boris Johnson is set to meet with German Chancellor Angela Merkel in Berlin.
Mrs Merkel said on Tuesday that she was open to "practical solutions" regarding the Irish backstop after Mr Johnson called the plan "anti-democratic" and said it must be scrapped.
Marshall Gittler, chief strategist at ACLS Global, says Mrs Merkel comment "was viewed as a possible signal that the EU could be willing to negotiate on this point, but frankly I doubt it".
"I think she was just being polite."
Sterling is 0.32% down against the dollar at $1.2132. It is 0.28% lower on the euro at €1.0934.
The pound is trading 0.29% lower against the dollar at $1.2135.
Sterling is also 0.25% down on the euro at €1.0938.
The pound clawed back a little ground against the dollar and the euro by late morning trade but its trajectory is likely to be unsettled.
"More Brexit noise is likely as Europe ‘responds' to Prime Minister Johnson's demands," said Kit Juckes, macro strategist at Societe Generale.
Sterling is down 0.21% against the dollar at $1.2100, and 0.25% lower on the euro at €1.0920.
Sterling fell against both the dollar and the euro after Prime Minister Boris Johnson told the EU that the Irish backstop is "anti-democratic" and must be scrapped.
In a letter to European Council President Donald Tusk, the PM said the backstop - which aims to avoid a hard border - risked undermining the Northern Irish peace process.
The pound fell 0.31% against the dollar to $1.2090. It dropped 0.33% on the euro to €1.0911.
Mr Johnson is set to meet with German Chancellor Angela Merkel tomorrow and France's President Emmanuel Macron on Thursday before world leaders gather at the G7 summit in Biarritz at the weekend.
Elsa Lignos, analyst at RBS Capital Markets, forecasts that sterling could recover.
"We are tactically long [on] GBP in our trade of the week as we feel there is some short term risk of a bounce if this week's talks are not as bad as feared," she says.