Pound euro exchange rate 'subdued' post-Brexit - what to do with your travel money

The pound to euro exchange rate is “lacking fresh impetus,” experts have warned. With Brexit done and dusted, GBP and the common currency “haven’t really known what to do.” This means the coronavirus pandemic is the main driver of the exchange rate.

“Any rallies above 1.11 [were] sold into, and the pair lacking fresh impetus.

“In fact, since the Brexit headlines died down, the cross hasn’t really known what to do with itself.

“The week ahead brings a quiet calendar, just November’s UK GDP due on Friday.

“Hence the pandemic will remain the focus for the pair, though another rangebound spell may be in store.”

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So what does all this mean for your holidays and travel money?

Post Office Travel is currently offering a rate of €1.0685 over £400, €1.084 for over £500, or €1.0895 for over £1,000.

Holidays are currently on-hold as the UK endures a third lockdown.

International travel is banned, with Britons urged to stay at home.

Experts advise keeping hold of the money rather than exchanging it.

“If you have got hold of foreign currency in cash, I’d recommend keeping it in a drawer if you can afford to do so,” said James Lynn, co-CEO and co-founder of travel debit card Currensea.