The pound to euro exchange rate continues to hold just above the 1.15 today, similar to what it has been trading at in the past few weeks. According to one expert, this is unlikely to change until the Bank of England meeting on Thursday.
The ban on international travel is set to be lifted on May 17 in the next step of easing lockdown restrictions.
Countries will be placed under the Government’s “traffic light” system, but it is thought that only a handful of countries will be on the “green list”, meaning there will be no mandatory quarantine on return into the UK.
James Lynn, co-CEO and co-founder of Currensea explained: “It is beginning to look more and more likely that international travel will be back on the cards this Summer with the announcements this week that Spain will be welcoming tourists back in June and the NHS app will be used as a vaccine passport for travel.
“Especially during this volatile time, it’s safer to keep hold of your money in your UK bank account than purchasing or exchanging for holiday money.
“Once we are allowed to travel again, this will hopefully signify the end of the COVID bump and I anticipate this will mean the pound will improve significantly…