Travel

Pound to euro exchange rate: Pound enjoys boost as Britons cash in sterling for Easter


The pound recovered some ground against the euro on Good Friday, the start of the Easter bank holiday and the day on which most Britons are set to jet away. Sterling has been under pressure throughout the entirety of the week, as reported by Express.co.uk. The release of UK employment data and inflation figures failed to see the pound surge, while the Euro enjoyed a boost from the eurozone. The pound is currently trading at €1.156 against the euro, according to Bloomberg, at the time of writing.

This marks a very slight increase on Thursday’s figures of €1.154.

Michael Brown, Senior Analyst at Caxton FX comments on the Pound, talked how the end of the parliamentary recess – with Brexit dominating the exchange rate – could impact the economy.

He said: “Sterling continues to mark time in the absence of any fresh Brexit-related news, though, with Parliament in recess this week, the busy economic calendar may provide markets with some relief from the political merry-go-round.”

The pound to euro exchange rate has been suffering since the Brexit referendum, with consequent uncertainty only causing it to drift further.

Fears of a no deal Brexit – which remains a possibility on the UK’s Brexit date of October 31 – have previously sent the pound plummeting.

UK Prime Minister Theresa May has secure an Article 50 Brexit extension, which means the UK will leave the EU on October 31.

Yet Labour leader Jermy Corbyn has poured cold water on notions of progress.

According to The Sun, he said: “We’ve put those cases very robustly to the Government and there’s no agreement as yet.

“The Government doesn’t appear to be shifting the red lines because they’ve got a big pressure in the Tory party that actually wants to turn this country into a deregulated low-tax society which will do a deal with Trump.

“I don’t want to do that.”

Meanwhile, today’s slight increase will no doubt heap further joy on Britons heading away for an Easter break, and leaving converting their pounds to euros to the very last minute.

ABTA The Travel Association estimates 2.1 million British holidaymakers are set to head overseas over the Easter Bank Holiday weekend.

They forecast Good Friday the busiest day for travel, with Spain the UK’s favourite foreign holiday destination for the weekend.

Malaga, Alicante and the Canary Islands are the most popular regions and temperatures this weekend are set to reach 21C in Malaga, 23C in Alicante and 23C in Gran Canaria.

Mark Tanzer ABTA Chief Executive said: “Easter is always one if the most popular times of year for travel and over the long weekend millions of holidaymakers will be taking either an overseas or a domestic break. The fact that Easter falls so late this year means that there is a good range of short haul destinations, offering good temperatures and guaranteed sunshine.

“As always on a busy bank holiday leave plenty of time to get to your departure port and check for engineering work and line closures if using public transport.”



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