You are correct that we are within normal ranges against the Euro, albeit towards the bottom of the range, but in the context of the Euro being talked about on this thread, as a currency about to implode, being at a low but normal historic level against it, is not all that reassuring.
You are correct, but in Italys favour, they are not on the brink of cutting their largest sector. In a few months time, if UK based Banks don't get some good news in the negotiations, ours will look worse.
BoE created £70Bn to dump into the economy after the Brexit vote, but apparently we are fine. I am sure Italy can handle doing just over a third of that.