The pound to euro exchange rate was boosted yesterday after moving little on Friday.
The UK currency was looking up slightly in July, but experts predict no further rises today.
At the time of writing GBP is at 1.1196 EUR, according to Bloomberg.
Michael Brown, currency expert at Caxton FX, spoke to Express.co.uk regarding the latest figures.
“Sterling gained around 0.4 per cent against the euro on Monday, shrugging off downward pressure exerted by weaker than expected manufacturing data,” he explained today.
“June’s manufacturing PMI fell to the lowest level since February 2013, recording back-to-back months of contraction.
“The day ahead sees a relatively light economic calendar, a fact that will likely result in markets remaining within recent trading ranges, with any sterling rallies capped by continuing political uncertainties.”
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Yesterday the pound was trading at €1.1197 against the euro, according to Bloomberg.
At the time Michael Brown told Express.co.uk: “Sterling traded largely unchanged against the euro on Friday as market participants remained on the sidelines ahead of crunch trade talks between President Xi and President Trump.
“The talks, which concluded on Saturday, have resulted in the agreement of another trade truce, helping to lift risk sentiment.
“Looking ahead, a fresh month begins with the usual round of PMI surveys.
“Markets will be particularly focused on the continued impact of Brexit-related uncertainties in the UK measures, while looking for signs of an increase in economic activity in the eurozone as the prospect of ECB stimulus looms large.
“Above-forecast releases may provide the pound with a short-term boost, though ongoing political uncertainties should cap any rallies.”
It’s not just travel money holiday-makers will be looking to save on.
Hand luggage rules can also cause an added expense for many.
Company Pack and Send has claimed UK holidaymakers pay out nearly £400 million in excess baggage charges each year.
Mike Ryan, Chief Executive, revealed a handy hack to avoid this is sending your baggage home before you get there.
