The pound to euro exchange rate held firm over the weekend as the UK lockdown relaxation saw travel to 59 countries given the go-ahead. Many travel money firms have also reopened their doors, meaning Britons can exchange their cash ahead of holidays.
- Spain holiday BOMBSHELL: Second holiday region goes back into lockdown
Looking ahead, the future of the pound’s position remains uncertain, with fluctuations likely as Chancellor Rishi Sunak announces further measures to help protect and rebuild the economy following the coronavirus fall out.
A high-level meeting of EU leaders mid-week is also likely to bring with it some turbulence.
Speaking exclusively to Express.co.uk, Michael Brown currency expert at Caxton FX, shared some insight into the current exchange rate.
“Sterling barely moved against the euro on Friday, with the Independence Day holiday bringing with it thin liquidity and light trading volumes, resulting in sideways movement across the G10 board as the week drew to a close,” he explained.
READ MORE :Australia: Country shuts state borders – when will they be open again?
“Looking ahead, this week’s calendar is rather quiet, though a couple of notable events towards the middle of the week – Chancellor Sunak’s economic statement, and a high-level meeting of EU leaders – will likely attract some attention.”
The pound is currently trading at a rate of 1.1068 against the euro according to Bloomberg at the time of writing.
Though a number of travel money firms closed their doors during the pandemic, many have now returned to operating as lockdown relaxation measures are increased.
The Post Office has returned to operations, currently offering services to Britons with travel plans and those who may need to switch over any unused or spare currency they have.
Cruise news: Over 65s may need doctor’s note to board ships [UPDATE]
Holidays 2020: What not to do when booking a UK holiday this summer [COMMENT]
Cruise: New luxury cruise to transform UK holidays after lockdown [INTERVIEW]
It is currently offering a rate of €1.0686 for £400 or more, €1.0841 for amounts over £500, and €1.0896 for £1,000 or more.
On Friday Prime Minister Boris Johnson also announced that travel would be allowed to 59 countries without the need for a quarantine period on the return home.
Amongst the list of countries given the green light were popular holiday hotspots including Spain, France, Italy and Greece.
While travellers might not need to quarantine for many of these countries upon their return to the UK, they may face travel restrictions when going the other way.
- Holidays 2020: FCO issues major travel advisory update
Those with plans to jet off abroad should stay up-to-date with the regulations in place in their chosen destination.
The government is using a “traffic light system” to determine the safety of countries based on their coronavirus figures and handling of the pandemic.
Some countries, including the US, were shunned from the list due to the ongoing coronavirus crisis.
The Foreign and Commonwealth Office (FCO) also updated its travel advisory notice for a number of countries.
The FCO updated its global advisory against ‘all but essential’ travel, exempting destinations that no longer pose an unacceptably high risk for British travellers.
The FCO website explains: “These exemptions came into effect on 4 July. All our advice will remain under constant review to take into account the latest situation in each country.
“These countries have been assessed as no longer presenting an unacceptably high risk to British people travelling abroad.
“Foreign & Commonwealth Office (FCO) travel advice is based on risks to British nationals, including in-country public health assessments.”
However, some countries where the travel advisory notice has been changed still require travellers to enter into a mandatory quarantine period of 14-days upon their arrival into the UK.
Source: Read Full Article