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“Last week, the British Pound suffered its worst week against the US Dollar this year as the world’s reserve currency gained momentum across the board, said Vessey. Sterling could fall further against the dollar but may climb higher against the Euro in the short term. Bank of England Governor Andrew Bailey has so far not intervened in the bond market turmoil despite 10-year UK yields having quadrupled this year. Policymakers view it as a natural reaction given the UK’s lead in the global vaccination race, which has also been GBP constructive. Sterling could fall further against the dollar but may climb higher against the Euro in short term (Image: Getty Images)
Pound to euro exchange: Sterling-euro has finally broken out of its recent slumber | 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.
YESTERDAY S Budget was anticipated to be a huge event for traders, but Rishi Sunak s announcement had practically no effect on the pound as it remains in the same place as before. What does this mean for travel money?
At the moment many Britons are unable to travel under the currency lockdown restrictions which state travelling for leisure is “illegal”.
However, with the Global Travel Taskforce set to be reinstated within the coming months, there is hope ahead for holidays.
easyJet and Skyscanner have already reported a surge in bookings for the summer months after the Prime Minister suggested some international travel may go ahead from May if the Global Travel Taskforce deems it safe and possible.
In anticipation, some hopeful holidaymakers may be looking to take advantage of the current rates and swap money in advance.
James Lynn, co-CEO and co-founder of travel card Currensea, explained: It may be tempting to take out foreign currency in anticipation of a future holiday, while the exchange rate is favourable.
| UPDATED: 08:26, Tue, Mar 2, 2021
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The pound to euro exchange rate is currently sitting above the 1.5 handle, with Rishi Sunak’s Budget announcement set to be unveiled on Wednesday. Though it started the week on a high, GBP has lost some of its strength overnight due to “changing dollar demand in the market”.