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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. ....
Trending “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) ....
Trending James Lynn, co-CEO and co-founder of travel card Currensea, warmed against this while travel abroad remains banned in the UK He said: It may be tempting to take out foreign currency in anticipation of a future holiday, while the exchange rate is favourable. However, I would advise against this. Market movements are often more marginal in reality than they appear. Especially during this volatile time, it’s safer to keep hold of your money in your UK bank account than purchasing or exchanging for holiday money. Pound euro exchange rate: During this volatile time, it’s safer to keep hold of your money (Image: Getty Imsges) ....
Pound euro exchange rate: It is illegal to travel abroad for holidays and other leisure purposes (Image: Getty Images) James Lynn, co-CEO and co-founder of travel card Currensea, commented: It may be tempting to take out foreign currency in anticipation of a future holiday, while the exchange rate is favourable. However, I would advise against this. Market movements are often more marginal in reality than they appear. Especially during this volatile time, it’s safer to keep hold of your money in your UK bank account than purchasing or exchanging for holiday money. Once we are allowed to travel again, this will signify the end of the COVID bump and I anticipate this will mean the Pound has improved even more significantly than the level it is at today. ....