The euro and the pound are not considered as the safe haven or high beta currencies. The yen and the franc are considered safe haven currencies. The Australian and the New Zealand dollar are considered as high beta commodity linked currencies. So, the euro, and the pound are not affected by the
Sometimes, the US dollar act as a safe haven currency. Currently, due to global growth concerns, the dollar is acting as a safe haven currency. When Brexit headlines dominated the market, the pound acted in line with these shift in sentiments. When there was a positive headline on Brexit, the pound rose, and the pound fell on negative headlines.
Last year, the ECB kept the interest rates very low. So, the investors wanted to use the euro as a funding currency against emerging currencies like the ruble and the Mexican peso. As you can see on this chart, the euro surged very high in a short period of time. This was due to a lot of unwinding of carry trades. So, the risk tone do not directly affect the euro or the pound.
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