Pound euro exchange rate ‘tranquil’ but last minute Brexit negotiations remain in focus

2 mins read

Brexit trade talks have become the main driving factor changes to the pound to euro exchange rate in recent weeks. Though coronavirus and subsequent lockdowns have played a part in determining fluctuations to the pound, with the end of the Brexit transition period ticking ever-closer, the promise of a deal has become a point of focus.

“A UK-EU trade deal would be the best scenario for both sides and help generate growth in what is a fragile, pandemic-stricken climate,” said George Vessey, UK currency strategist for Western Union Business Solutions.

“Eyes are on the easing of second lockdowns and how quickly economies can bounce back.

“If the UK and EU fail to reach a deal and trade on World Trade Organisation terms, then this will ramp up trade costs, in the form of higher tariffs, quotas and other non-tariff barriers.

“Based on past performance, when no-deal Brexit fears rise, the pound falls and when hopes of a deal rise, the pound rises.

The travel ban is due to end on December 2, and the Government has announced its new “test to release” scheme set to slash quarantine from 14 days to five for those who provide a negative covid test five days after their return home.

With this in mind, many Britons need to change travel money.

Shopping around is absolutely key in getting your hands on the best rates.

Luckily, with the current lockdown also coming to an end on December 2, non-essential shops are reopening their doors meaning most high street travel money retailers will be open for business.

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