The pound is expected to remain “rangebound” against the euro today, with no new data emerging from either side of the pond. However, France’s coronavirus increasing coronavirus cases have now become a cause for concern. On Wednesday, the country recorded a staggering 1,695 new cases of coronavirus.
The figure is the highest number of daily infections the country has witnessed in more than two months.
Sterling is currently trading at a rate of 1.1077 against the euro according to Bloomberg at the time of writing.
This is marginally below Friday’s rate of 1.1086.
Speaking exclusively to Express.co.uk, Rehan Ansari, currency expert at Caxton FX shared his insight into the current rate.
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Pound to euro exchange rate: GBP remains ‘rangebound’ as eyes remain on France’s case rate
Pound to euro exchange rate: Sterling is currently trading at a rate of 1.1077 against the euro
“The pound has remained rangebound against the single currency following the BOE monetary policy statement last week,” he said.
“The decision to brush aside negative rates for now along with confirmation that the recovery would be steady, albeit slower than previously anticipated has sent mixed signals into the financial markets.”
He continued: “Today, with little in the way of relevant data from either side of the channel, sterling should continue to remain rangebound against the single currency.
“Although, both currencies will be sensitive to any coronavirus headlines following the number of cases in France continuing to rise over the weekend.”
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Currently, France is still on the Foreign Office’s (FCO) “safe” list.
This means that anyone arriving in the UK from France will not be asked to quarantine for 14 days on arrival.
However, some reports have suggested that the country could be removed from the UK’s “air bridge” list as cases continue to rise.
Belgium, Andorra and The Bahamas were removed from the Government’s “safe” list last week after they saw a surge in cases.
Pound to euro exchange rate: Malaysia and Brunei were added to the Government’s “air bridge” list
Transport Secretary Grant Shapps tweeted the news on Friday.
Mr Shapps said: “Data shows we need to remove Andorra, Belgium and The Bahamas from our list of #coronavirus Travel Corridors in order to keep infection rates DOWN.
“If you arrive in the UK after 0400 Saturday from these destinations, you will need to self-isolate for 14 days.”
Malaysia and Brunei were added to the Government’s “air bridge” list.
Despite uncertainty remaining around travel, Britons are still keen to travel abroad for a summer holiday.
When it comes to travel money, one expert suggested that the best thing to do is plan ahead.
Ian Strafford-Taylor, CEO of travel money specialist FairFX, told Express.co.uk: “Whether you’re paying by paper or by plastic, the best thing you can do is to plan ahead.”
The Post Office Travel Money is currently offering rates of €1.0664 for amounts of £400 or more, €1.0819 for amounts of £500 or more, and €1.0874 for £1,000 or more.
Source Daily Express :: Travel Feed