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The pound to euro exchange rate barely shifted on Thursday following the European Central Bank’s (ECB) latest decision. An easing package for December was unveiled while risk assets saw a “modest bounce,” but sterling remained “resilient” said experts. Brexit continues to serve as a barometer for the pound’s movements.
Looking ahead, it’s predicted post-Brexit talks will remain in focus over the weekend.
Experts have said “shifts in risk appetite” will also be a “main driver.”
The pound is currently trading at 1.1063 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 remained remarkably resilient against the euro yesterday,” said Brown.
“The pair hardly budged despite the ECB pre-committing to a significant easing package in December, and the modest bounce in risk assets.
“Perhaps, the pair remains on alert for Brexit headlines, which – in a positive development – have been rather thin on the ground of late.
“Given today’s barren UK data calendar, and the lack of attention the market has shown to hard eurozone data of late, one would expect shifts in risk appetite, and the aforementioned Brexit, to be the main drivers into the weekend.”
So what does this all mean for your holidays and travel money?
Post Office Travel Money’s today’s online rates are marginally down on yesterday’s.
The currency service is currently offering a rate of €1.0673 for over £400, €1.0828 for over £500 or €1.0884 for over £1,000.
Of course, there are numerous holiday money providers, both online and in physical stores and it’s important to shop around to find what suits you.
This week, Thomas Cook launched a digital travel money service.
The travel agency recently relaunched as an online-only business after leisure company Fosun Tourism Group (which also owns Club Med) acquired the brand and online assets of Thomas Cook in November last year.
The new service allows customers to order travel money online or via a dedicated app, with the option of receiving Clean Currency – brand new, freshly-printed, virus-free Euros and US Dollars, in sealed tamper-proof packaging.
Thomas Cook’s Best Exchange Rate Guarantee monitors Post Office exchange rates on a constant basis to ensure a better deal for customers.
The service offers more than 50 currencies covering 98 percent of worldwide destinations.
There is no commission or hidden charges plus free delivery on all orders over £500.
Another benefit is the Clever Currency toolkit which includes reminders, alerts when rates are high or reach your target rate, and historic exchange rates to compare currency performance.
Staying on top of the rate is vital as it ensures you get the most bang for your buck and don’t miss out.
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