Pound-Euro exchange rate trades on “thin volumes” with “little momentum” to move | Travel News | To travel

The pound performed well early last week and had its best day of the year. Since then, it has remained within a range, trading in the region of 1.16 against the euro.

It is trading at a rate of 1.1646 against the euro at the time of writing, according to Bloomberg.

This is slightly higher from yesterday when it traded at 1.1613.

Speaking to Express.co.uk, currency expert at FX cardboard, Michael Brown explained that the market continues to trade on “thin volumes”.

He explained: “It was a quiet start to the week for the cross yesterday, which remains rather limited in the low range of € 1.16 as the market continues to trade thin volumes, with little momentum to exit. that tight fork.

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“This morning’s UK labor market data may trigger some volatility, although given the out-of-date and biased nature of the publication, it is more likely to be ignored out of hand.”

Yesterday, the expert said: “The British pound continues to trade as low as € 1.16 at the start of the new week as the cross has taken on a rather limited nature in recent days.

“The start of the week is on a calm schedule, although a full ‘WORD’ on the UK economy is expected as the week progresses which could potentially be a source of currency volatility.”

At the start of last week, the pound hit new highs for 2021.

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At the time, Michael said: “The pound sterling had its best day against the euro since last December yesterday, hitting three-week highs.

“It was then that the market reacted positively to the results of the weekend’s election and the perceived lower risks of a second Scottish independence referendum.”

The ban on international travel was lifted yesterday in the country, which means vacationers can once again return to some popular tourist destinations.

Countries on the “green” list include Gibraltar, Iceland, Singapore, Australia and New Zealand.

This means travelers do not have to self-quarantine when they return to the UK.

What does this mean for the travel money?

James Lynn, CEO and co-founder of Currensea, explained: “While this is great news, international travel is opening up, the proposed traffic light system means there will still be an element of disruption this summer. , both for travel agencies and consumers.

“Great caution and careful planning will be very important when it comes to vacation planning this year – and keeping up with the latest updates will be essential.

“Financial security when traveling must also be a priority for consumers. Sudden changes and cancellations, which remain likely, could put travelers at risk if the right precautions are not taken. “

In other news, British Airways yesterday launched PCR tests of £ 40 to help lower the price of Covid-19 tests before travel.

BA CEO Sean Doyle said: ‘We are working hard to keep costs down, so we just launched a £ 40 PCR test today.

“We are working with the government and pushing it to reduce the costs of testing. “

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