THE POUND to euro exchange rate has remained high this week as the month of February begins. According to experts, GBP could improve further this week. So what does this all mean for your holidays and travel money?
THE POUND to euro exchange rate has slipped against the euro this morning after breaking the 1.13 barrier yesterday; however, experts say GBP has held up admirably - what does this mean for your travel money?
THE POUND to euro exchange rate has rocketed in the last 24 hours as markets grow optimistic about the covid vaccine rollout in the UK. What does this all mean for your travel money - should you exchange leftover currency?
He said: “Sterling finally broke above the €1.1280 resistance level yesterday, at what felt like the millionth time of asking, to print its highest levels against the common currency since last May.
“The move comes as investors grow increasingly optimistic about the UK’s vaccine rollout, and thus more optimistic about the UK economy’s prospects.
“Now that 1.1280 has given way, a move above 1.13 could follow in relatively short order, particularly if the current optimism is maintained.
“Today’s ECB decision is unlikely to have too significant an impact on the pair.”
George Vessey, UK Currency Strategist, Western Union Business Solutions said: The British Pound enjoyed a fresh wave of demand yesterday, largely as a result of renewed global risk appetite, which has benefited the risk-correlated pound more so over the past twelve months.
The new rules have seen many airlines such as Jet2 cancel all their flights and holidays.
James Lynn, co-CEO and co-founder of travel debit card Currensea has offered his advice for Britons looking to book a holiday and beat the summer rush.
He said: “Now is actually a great time to book your summer holiday because flights and hotels are excellent value thanks to the January sales and uncertainty around the COVID travel restrictions.”
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However, he added that Britons need to follow “important steps” in order to protect themselves.
He continued: “Check the refund policy on flights or accommodation before you book to ensure that the company will refund you fully, in cash, rather than with a voucher.