The pound to euro exchange rate experienced little change at the end of the last trading week. The absence of movement came amid rising hope that a coronavirus vaccine could be found. Coronavirus continues to absorb the majority of attention.
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The deadly pandemic has resulted in 2,404,325 cases worldwide and tragically 165,238 deaths.
The UK has 121,173 cases of coronavirus.
While the health crisis remains the “primary centre of attention” the UK economy will also be focussed on, said experts.
Looking ahead at the week, labour market, inflation, retail sales and PMI reports are all due.
The pound is currently trading at 1.1481 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 ended Friday largely unchanged against the euro,” said Brown.
“[This was] despite a broad improvement in risk appetite amid increasing hope that an effective treatment for the coronavirus would soon be found.
“This week, developments in the pandemic will remain the primary centre of attention.
“The UK economy will also be receiving a full health-check, with labour market, inflation, retail sales and PMI reports all due.”
Of course, for many Britons, taking holidays and requiring travel money is still far off.
The UK Foreign and Commonwealth Office (FCO) continue to “indefinitely” advise against all but essential travel while last week the UK lockdown was extended for another three weeks.
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However, holidaymakers can still start planning ahead for their next trip.
Matt Crate, Managing Director of peer-to-peer currency exchange platform WeSwap, recommends beginning your budgeting now to get a head start.
“The travel market is very fluid at the moment, so trying to get the best possible deal for a specific time can be tricky,” explained Crate.
“However, there are some things that will still be the same.
“Exchanging travel money to Euros or Dollars now, setting hotel and flight budgets or even beginning to budget for your holiday spend would be a great use of time and an incentive to look ahead to your next getaway.”
He added: “Just make sure that all holidays booked during this period are protected in case you can’t travel then.
“But there are still great deals to be had, so spend time doing your research and get ready to travel again!”
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