THE POUND to euro exchange rate continues to rise at its trades well against the euro, experts have said. This comes after GBP hit nine-month highs on Monday. What does it all mean for your holidays and travel money?
THE POUND to euro exchange rate continues to rise at its trades "well" against the euro, experts have said. This comes after GBP hit nine-month highs on Monday. What does it all mean for your holidays and travel money?
The U.S. dollar rebounded from three-week lows on Tuesday as Treasury yields hit pre-pandemic highs and bullish economic sentiment boosted investor risk appetite.
The dollar fell against some of the major currencies on Thursday, weighed down by slightly weaker-than-expected U.S. jobless claims data that followed tepid inflation numbers and a dovish message from the Federal Reserve the previous session.
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George Vessey, UK currency strategist for Western Union Business Solutions said: “The Bank of England s (BOE) rejection of early implementation of negative interest rates gave the British Pound a boost last week and sent GBP/EUR to its highest level since May last year.
“The rapid vaccine rollout in the UK is also deemed GBP positive along with overall improved global risk appetite.”
“It remains to be seen whether the rapid distribution of vaccines will continue to protect the pound from the UK s negative current account and trade uncertainties, but so far GBP/USD has consolidated above $1.37, potentially primed for a move above $1.38 this week, whilst GBP/EUR remains atop €1.14 this morning.