Pound to euro exchange rate remains ‘flat’ – but could updated lockdown spark shift?

The pound to euro exchange rate traded flat on Friday as the reduced bank holiday trading volumes sparked little change. The coronavirus pandemic continues to be the main focus for investors – and indeed for most Britons. Worldwide there are now more than four million cases and the UK is the third-worst hit country.

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The UK has nearly 220,500 reported cases of the deadly virus.

The country has the second-highest death rate after the USA.

There have tragically been nearly 32,000 deaths in the UK.

However, last night Boris Johnson addressed the nation about moving forwards.

Many Britons have been eagerly awaiting the Prime Minister’s speech to see how his changes could affect their lives.

The Prime Minister announced people will be permitted to take unlimited outdoor exercise, sunbathe in parks and drive to the countryside or the beach from this Wednesday.

Golf courses and tennis courts will also be allowed to reopen for members of households to play together and anglers will be allowed to return to the riverbanks.

And in further stages in his plan, schools and shops could begin reopening next month with restaurants and cafes with outdoor dining spaces to follow in July.

Today, Johnson will be setting out more details in Parliament and taking questions from the public in the evening.

According to financial experts, investors will be keen to “assess how quickly the nation will be able to return to more normal levels of economic output.”

The pound is currently trading at 1.1455 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.

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“Sterling traded flat against the euro on Friday, with the UK bank holiday significantly reducing trading volumes,” said Brown.

“[There were also] ongoing jitters over the recent German Constitutional Court ruling on the ECB’s asset purchases programme continuing to pose some headwinds for the common currency.

“Today, focus will largely be on last night’s Prime Ministerial address and the gradual lifting of lockdown measures in the UK.

“Investors are keen to assess how quickly the nation will be able to return to more normal levels of economic output.”

Britons are still advised against all but essential travel so holiday plans will have to remain on hold until further notice.

However, Johnson yesterday confirmed that anyone arriving into the UK by air would soon be required to quarantine for 14 days.

He said: “To prevent re-infection from abroad, I am serving notice that it will soon be the time – with transmission significantly lower – to impose quarantine on people coming into this country by air.”

It is not immediately clear when this rule will be enforced.

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