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The pound euro exchange rate saw “back-to-back daily gains” for the first time in two weeks, yesterday. However, despite the rise, sterling has stayed mainly restricted to its recent trading range. Post-Brexit trade talks continue to impact the movement of GBP, with investors keeping their ears to the ground for the latest news.
Looking ahead at today, it’s likely to be a similar story.
The pound is currently trading at 1.1085 against the euro, according to Bloomberg at the time of writing.
Michael Brown, currency expert at international payments and foreign exchange firm Caxton FX, spoke to Express.co.uk regarding the latest exchange rate figures this morning.
“The pound notched back-to-back daily gains against the euro for the first time in a fortnight yesterday,” said Brown.
“Though the pound remains largely confined to the recent trading range, with investors continuing to wait for news from the post-Brexit trade talks.
“A similar theme is likely to continue today, though the less we hear from the talks the better at this stage.”
So what does this all mean for your holidays and travel money?
Post Office Travel Money is currently offering a rate of €1.0615 for over £400, €1.0770 for over £500 or €1.0825 for over £1,000.
Of course, there are numerous holiday money providers, both online and in physical stores and it’s important to shop around to find what suits you.
This week, Thomas Cook launched a digital travel money service.
The travel agency recently relaunched as an online-only business after leisure company Fosun Tourism Group (which also owns Club Med) acquired the brand and online assets of Thomas Cook in November last year.
The new service allows customers to order travel money online or via a dedicated app, with the option of receiving Clean Currency – brand new, freshly-printed, virus-free Euros and US Dollars, in sealed tamper-proof packaging.
Thomas Cook’s Best Exchange Rate Guarantee monitors Post Office exchange rates on a constant basis to ensure a better deal for customers.
The service offers more than 50 currencies covering 98 percent of worldwide destinations.
There is no commission or hidden charges plus free delivery on all orders over £500.
Another benefit is the Clever Currency toolkit which includes reminders, alerts when rates are high or reach your target rate, and historic exchange rates to compare currency performance.
David Scott, head of ancillaries and financial services at Thomas Cook, said: “Despite the shift to digital money when spending at home, we know our customers are still twice as likely to take at least some cash when spending abroad.
“Cash is preferred by many people because it helps with budgeting on holiday and avoids over-spending. We’ve created a digital solution that means we can offer fantastic rates on holiday money and it can be delivered the next day to an address of your choice.
“The app also means you can plan ahead and let it monitor the markets for a particular rate meaning you lock in the best exchange rate in preparation for your holiday.
“Our new business is all about making bookings and enjoying a holiday as simply and easily as possible in a digital way and our new app is the next stage of that.”
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