The pound has hit a six-month high against the euro as markets continue to price based on the likelihood of a Conservative party majority following the 12 December election. However, with a live TV debate between Boris Johnson and Jeremy Corbyn tonight, attention is likely to shift and with the outcome potentially causing a ripple effect for sterling. While opinion polls currently point to a Conservative majority, propositions put forward by both parties this evening could largely shake up the public view, and in turn rock the exchange rate.
According to the latest ICM voting intention polls The Tories have risen by three points to 42 percent.
This is their highest rating since September 2018.
Meanwhile, Labour has seen a boost of one point, taking them to 32 per cent.
In a blow to the Liberal Democrats, their support has fallen two percentage points to 13 percent.
Rob Stross, CMO of WeSwap advised: “It goes without saying but when the pound is riding high, it’s a good time to buy your travel money.”
The Post Office is currently offering a rate of €1.1276 for over £400 and €1.1498 for over £1,000.
Ian Strafford-Taylor, CEO of FairFX added: “If you’re happy with the current rate on offer, buying your currency now is the only way to guarantee this rate for your future holiday.”
While not everyone holds the expertise of a currency trader, there are other ways holidaymakers can guarantee they get more bang for their buck when travelling.
Stross advises travellers to keep an eye on relevant news and updates that may affect the pound.
He told Express.co.uk: “When it comes to travel money, it can pay to be aware of any upcoming political events which could affect the pound’s value,” he explained.
“Last minute purchases, whether at airport bureaux or cruise ship currency exchanges, are always likely to lead to less bang for your buck as merchants are able to offer whatever exchange rate they like, knowing holidaymakers have no choice but to accept.”
