| UPDATED: 10:04, Wed, Mar 17, 2021
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After a poor start to the week, the pound yesterday recovered from its earlier losses as it bounced back towards the 1.17 mark. Today, at the time of writing, it has surpassed this mark. What does this mean for your travel money?
Pound euro exchange rate loses strength ahead of BoE policy - travel money advice | Travel News | Travel express.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from express.co.uk Daily Mail and Mail on Sunday newspapers.
| UPDATED: 08:04, Fri, Mar 12, 2021
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On Wednesday, the pound to euro exchange rate rose for the fifth day in a row. This was due to the success of the UK’s COVID-19 vaccine rollout, which may lead to “a faster economic reopening” of the country, according to experts.
| UPDATED: 11:09, Fri, Mar 12, 2021
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The pound to euro exchange increased yesterday for the fifth day in the row, rising to 1.1678 against the euro yesterday morning. However, there has been little change since.
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But this morning sterling remains just below the 1.17 mark against the euro.
Pound euro exchange rate: The pound is trading at 1.1678 against the euro (Image: Bloomberg) The pound continues to benefit from the UK’s impressive covid vaccination programme and hopes that it will lead to a faster economic reopening.
“Today’s calendar is rather quiet for the cross, meaning that near-term momentum will likely be continued towards a test of the 1.17/1705 region that marked the cycle high a fortnight ago.”
George Vessey, UK Currency Strategist, Western Union Business Solutions, also shared his insight.
“Central banks like the US Federal Reserve and the Bank of England have downplayed the rise in bond yields thus far, whilst the European Central Bank (ECB) is likely to at least verbally intervene, or possibly increase asset purchases this Thursday to cool the bond market rout, he said.