Pound to euro exchange rate: Improvement from sterling despite Brexit slow down
THE POUND has improved slightly since a steady week has seen it hold against the euro following a lack of news regarding the economy and Brexit, which have previously caused fluctuation for the exchange rate.
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The pound is currently trading against the euro at £1.144 as of this morning.
This is a slight improvement from yesterday’s figures of £1.143 but remains steady as the week goes on.
Following a lack of news regarding the process of leaving Brexit in March 2019, the exchange rate has managed to hold on to its steady levels.
UK economic news surrounding mortgage rate falls has also failed to have an effect on it.
But what is the current update regarding Brexit and the latest news surrounding leaving the EU?
With just a year to go until the UK leaves the EU, Brexit negotiations have slowed
With just a year to go until the UK leaves the EU, Brexit negotiations have slowed.
Due to leave on 29 March 2019, trade deals and travel regulations are still in debate, although a 21 month period after this date has been established to allow time to discuss the issues.
Europol's Rob Wainwright explained how he is “quite positive” that a good security deal will be met between the UK and the EU, despite there still being “a lot to do”.
This includes defence policies and foreign security issues which are still to be established.
A number of issues to affect the travel industry such as the problem of open skies and and free movement across Europe are yet to be decided upon.
Laura Parson explained how the pound has remained steady this week.
She said: “Although disappointing data from Germany reduced demand for the euro on Tuesday, the pound’s gains against the common currency were limited amid an absence of pertinent news from the UK.
She also revealed how the pound could still be affected later this week following a number of announcements.
Ms Parsons explained: “The GBP/EUR exchange rate could edge higher today however if the Bank of England (BoE) Agents’ summary of business conditions proves optimistic.
“Germany’s Gfk consumer confidence index is also forecast to show a decline in sentiment, a result which could give the pound more impetus to climb against the euro.’”
British holidaymakers looking to get their travel money this week can get £1.116 for £400 at the Post Office.
Travellers can get up to £1.132 against the euro today with other high street currency providers.
It pays to shop around, according to Martin Lewis who has previously advised to find the best deal online.
The worst way to get money is always at the airport who charge much lower rates, with some seeing less than £1 per euro.
Paying in the local currency as opposed to sterling when abroad can also make travel money go much further.