The pound to euro exchange rate has shown minimal improvement since yesterday as the Brexit battle rumbles on. A lack of progression in the political sphere has kept GBP “rangebound,” experts have said. The pound failed to gain on the euro after Prime Minister Boris Johnson further exacerbated fears of an early general election. This left sterling struggling against many of its competitors as the UK remains in a state of political deadlock.
Opposition parties are demanding that a no-deal Brexit be completely shelved before pursuing a general election.
However, “shifts in the Brexit sentiment” today could see sterling turning volatile.
If a deal looks likely then the pound could be set to improve against the common currency.
The pound is currently trading at 1.1295 against the euro, according to Bloomberg at the time of writing.
Michael Brown, currency expert at Caxton FX, spoke to Express.co.uk regarding the latest exchange rate figures.
“Sterling remained rangebound against the euro on Thursday,” Brown said.
“A lack of significant political headlines resulted in a quiet trading session.
“Today’s focus will be on talks between Brexit Secretary Barclay and EU Chief Negotiator Barnier, with the pound set to remain volatile in line with shifts in Brexit sentiment.
“Signs of the two sides inching closer to a deal would be met with sterling upside.”
So what does the current exchange rate mean for British holidaymakers hoping to withdraw travel money?
The Post Office is currently offering an exchange rate of €1.10081 for over £400 and €1.1037 for over £1,088.
Savvy travellers should be sure to keep an eye on the ever-shifting rates in order to take advantage of when they become favourable.
Alana Parsons, currency expert from Caxton, said: “Keep a watchful eye on the rates so you can take advantage of any gains, and most importantly don’t leave it all to the last minute and avoid airport kiosks!”
Research from Caxton shows a family of four could waste up to £215.78 if they buy currency at the airport and don’t sort their currency card a week or two in advance.
British Airways has now launched its festive flight offering for the winter months.
The Christmas Markets sale offers both flights and hotels at hotspots across Europe for as little as £99.
