The pound to euro exchange rate has suffered dramatic fluctuations in recent months, however new optimism that a Brexit deal could be struck soon has offered a positive boost for the pound. According to one expert, sterling is heading into the week “on the front foot”.
Michael Brown, currency expert at Caxton FX spoke exclusively to Express.co.uk and further revealed his belief that a deal between UK and EU leaders will be struck “this week or into December”.
The pound is currently trading at a rate of 1.1216 against the euro according to Bloomberg at the time of writing.
Mr Brown explained: “Sterling once more moved sideways against the euro on Friday, as the market remained in a state of Brexit purgatory, waiting for signs of white smoke from the UK-EU trade talks.
“The pound is, however, starting this week on the front foot, amid reports that a breakthrough may be imminent, though caution is required with nothing in EU negotiations being agreed until everything is.
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Though many Britons are not travelling at present, with hopes the travel ban may be due to end of December 2 in time for the festive season, a boost for the pound could be positive for those looking to exchange travel money.
However, with rules and regulations changing so rapidly in recent months, one expert suggests Britons should avoid switching all of their currency in one go.
An expert from Currency Online Group explained: “Excited holidaymakers exchange thousands of pounds every year, often months in advance of their trip.