Pound to euro exchange rate: Sterling makes a modest gain amid post-Brexit struggles

The pound to euro exchange rate has struck a modestly higher tone against the common currency following a week of seemingly continuous declines. As Brexit came into action, little change was initially seen to the pound, with experts already wagering in the event. However, fluctuations are expected in the coming months.


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The UK’s future out of the EU remains an “unprecedented journey” and with little known about what will happen in the next year, the pound could experience rapid changes.

The pound is currently trading at a rate of 1.1871 against the euro according to Bloomberg at the time of writing.

It has seen a fall of 0.27 percent overnight, however, is making a modest recovery this morning.

Speaking to Express.co.uk, Michael Brown, currency expert at Caxton said: “Sterling ticked modestly higher against a weaker common currency on Friday, gaining ground after disappointing eurozone GDP and CPI reports.

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“Today, attention shifts to January’s final manufacturing PMI report, with market participants looking for confirmation of the post-election ‘Boris bounce’ seen in the flash estimate.”

Moving forward, the UK government will continue to work with its European counterparts to try and strike positive deals for Britons.

This could have a positive effect for the pound, with strong agreements with EU countries bolstering the stance of sterling.

However, in just before Brexit came into fruition, Ian Strafford-Taylor, CEO of international money specialist, Equals (previously known as FairFX) predicted that now the pound is in “unchartered territory” it is “vulnerable to further fluctuations against other currencies.”

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He added: “What happens over the coming days and weeks in terms of trade deals with other countries could have huge implications on the future strength of the pound and we should brace ourselves for further turbulence.”

So, what does this mean for holidaymakers heading to Europe in the coming months?

While there has been much uncertainty about what this means for passports and visas, it seems for the next year travel should remain very much the same.

However, it could be a different story for the pound, and keeping an eye on developing news is the best way to predict how the rates will go.


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For those heading on holiday in the coming weeks, Ian suggests: “The best way for holidaymakers to get more for their money is to keep a very close eye on how the pound reacts over the next few days and lock in rates when they’re happy as there is no guarantee they will improve for the better.”

There is a silver lining to the weakening pound though.

Ian adds: “If you’re not set on where to travel, now could be a great opportunity to explore destinations further afield where the pound is performing better than it is against the euro.”

Digital bank Starling recent created an interactive budget tool which unveiled some of the world’s cheapest cities to explore, ideal for Britons wanting a taste of something new.

Cities including Cairo, Istanbul, Kuala Lumpur and Beijing were amongst those rated the most budget-friendly.

However, it was Delhi, in India, which took the top spot when it comes to cost-effective adventures.

According to the findings, a day here will cost just £28.22, which includes a local meal, round trip on public transport and a hotel room.

“We chose costs that travellers will find themselves spending most days when on holiday or visiting other countries, and used these as metrics to outline the tool,” a spokesperson for Starling Bank told Express.co.uk.

“Items such as a local meal, round trip on public transport and a hotel room were added with a ‘basket’ approach in mind to enable travellers to make informed decisions about the costs they may incur.”

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