Pound to euro exchange rate: Sterling rises after plunging to three-month low

The pound to euro exchange rate has experienced a turbulent few days as June came to an end. It plummeted to a three-month low before recovering losses yesterday. New data is out today which is set to impact the exchange rate.

READ MORE

  • Ryanair: Full list of passenger hygiene measures

This includes new PMI surveys while on Friday more post-Brexit trade negotiations are set to take place.

The pound is currently trading at 1.1025 against the euro, according to Bloomberg at the time of writing.

Michael Brown, currency expert at international payments and foreign exchange firm Caxton FX, spoke to Express.co.uk regarding the latest exchange rate figures this morning.

“Sterling recovered some of Monday’s losses yesterday,” he said.

“It rose by around 0.5 percent against the common currency, amid rather choppy, flow-driven month-end trading which made a theme of the day rather difficult to discern.

“Today, now that month end flows have been and gone, attention should turn back to more fundamental factors.

“These include this morning’s PMI surveys, and the conclusion of another round of post-Brexit trade negotiations on Friday.”

Overseas holidays are expected to be able to recommence from July 6, with so-called ‘air bridges’ being created with partner countries.

This is due to be confirmed today – to the relief of many frustrated travellers.

The first tranche of air bridges will be with European short-haul destinations, with some of the most popular summer holiday destinations included in the list.

Currently, foreign holidays are still not allowed.

The government’s COVID-19 Exceptional Travel Advisory Notice continues to state: “The Foreign & Commonwealth Office currently advises British nationals against all but essential international travel.

READ MORE

  • 7 new rules hotels MUST follow to reopen

“This advice is being kept under constant review.”

To coincide with travel opening back up, holiday money providers are resuming operations.

The Post Office has revealed its Travel Money service is now back to work.

Customers planning trips abroad will be able to order over 60 currencies online for next day home delivery or collection from all 11,500 Post Office branches.

Same-day online “click and collect” delivery of travel money will also be available at a selected number of branches across the UK from July 1.

Britons will also be able to use the pre-order currency function in selected Post Office branches alongside Post Office’s over-the-counter foreign exchange service which enables customers to obtain euros, US dollars and up to 30 other popular currencies on demand.

Customers can also load the Post Office pre-paid Travel Money Card with a choice of up to 23 currencies.

Source: Read Full Article