Pound euro exchange rate ‘struggles’ as it faces ‘resistance’ – should you book a holiday?

pound euro exchange rate struggles as it faces resistance should you book a holiday

The pound to euro exchange rate saw success last week, with sterling managing to hold its own against the euro. This week, the currency pair have so far remained above the €1.12 mark, in a positive move for GBP. The pound is currently trading at a rate of 1.244 against the euro according to Bloomberg at the time of writing.

This is slightly below yesterday’s rate of 1.1247.

The pair are currently stuck in a rut as they “struggle” to push past that 1.1280 mark

Currency expert Michael Brown of Caxton FX spoke with Express.co.uk to share his exclusive insight into what is in store for the exchange rate.

“It was once again a fairly muted day for GBP/EUR yesterday, with the pair continuing to struggle for direction a little,” he said.

READ MORE: Flights: Latest updates for BA, TUI, easyJet, Ryanair & Jet2

Only those with an essential reason are exempt from the rules.

The new rules have seen many airlines such as Jet2 cancel all their flights and holidays.

James Lynn, co-CEO and co-founder of travel debit card Currensea has offered his advice for Britons looking to book a holiday and beat the summer rush.

He said: “Now is actually a great time to book your summer holiday because flights and hotels are excellent value thanks to the January sales and uncertainty around the COVID travel restrictions.”

“As well, if possible, stay away from paying a deposit or only if it is a very low deposit required close to the time of the trip so you can make a decision as you approach your travel date.

“Finally, I recommend staying away from package holidays at the moment.

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