Also in focus today is the expectation for Friday’s leaders discussions.
The pound is currently trading at 1.1009 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.
“Sterling snapped a two-day losing streak yesterday,” he said.
“It eked out a modest gain on the day, despite the common currency remaining pretty well-bid as a result of mounting expectations for Friday’s crunch summit on the recovery fund.
“Today, the ECB’s latest policy decision is unlikely to be a market mover.
“Hence focus will remain on expectations for Friday’s leaders discussions.”
So what does all this mean for your holidays and travel money?
Tesco Bank’s Travel Money service was suspended at the start of the Covid-19 pandemic. However, as travel restrictions begin to ease, the bank is resuming the service.
It means customers can now order currency online for home delivery or collection from one of over 200 customer service desks in Tesco stores around the UK.
A further 10 in-store bureaux have opened in selected stores, with more to follow as customer demand increases.
Mark Loch, Money Services Director, Tesco Bank said: “As restrictions on foreign travel begin to ease, now is the right time to bring back our Travel Money service.
“We are pleased to be able to return this offering to our customers and we’ll continue to be led by Government advice, and the needs of Tesco shoppers, as we re-start this service.”