The same is likely to happen today due to “quiet calendar.”
In positive news, though, and looking further ahead, experts believe sterling will “stay afloat the €1.10 mark” this week.
The pound is currently trading at 1.1113 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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“It was another quiet trading day for GBPEUR yesterday,” said Brown.
“Thin trading volumes and a lack of impactful news and data releases resulted in significantly dampened volatility.
“A similarly quiet day could be in store today, once more owing to the quiet calendar.”
Brexit continues to impact the performance of the euro as talks stall.
George Vessey, Currency Strategist at Western Union, commented: “Sterling weakened against both the Euro and the US Dollar on Monday, amid ongoing concerns over the lack of progress in talks between UK and EU Brexit negotiators.
“No real progress was made in their latest round of negotiations, ramping up fears of a no-deal scenario after the transition period expires at the end of December.
“Many investors believe talks will go down to the wire as usual though, so sterling didn’t fall substantially against its peers, but should the stalemate continue throughout September and early October, then the pound may face a barrage of selling pressure.
“Failure to reach a deal by the EU’s October summit begs the question as to whether any deal would be ratified in time before year-end.”
He continued: “Without an agreement in place, the UK and EU are expected to be trading with each other under World Trade Organisation rules.
“GBP/USD is expected to fall back under $ 1.20 in this scenario, whilst GBP/EUR could fall back towards €1.05.
“In the short-term, GBP/USD looks poised to travel higher should dollar weakness persist, though GBP/EUR continues to stay afloat the €1.10 mark.
“Attention this week turns to Bank of England speeches on Wednesday and Friday with the negative interest rate debate in focus.”
So what can Britons looking to buy travel money for their holidays expect today?
The Post Office is currently offering an exchange rate of €1.0686 for over £400, €1.0841 for over £500 and €1.0896 for over £1,000.
Holidaymakers are advised to monitor the exchange rate in advance of their holiday to make sure they are purchasing the currency at the optimum time.
It’s a bad idea to buy holiday money at the airport due to the unfavourable rates often offered there.