Pound to euro exchange rate: sterling ‘vulnerable’ to fall today

The pound to euro exchange rate enjoyed a mini surge this week, in good news for travellers, yet experts have forecast GBP remains “vulnerable”. Currency analysts insist sterling remains at

the mercy of UK political developments, with voting for the new Conservative Party leadership and consequent UK Prime Minister starting today. This will run until around July 22 - so

politics has plenty of time to impact exchange rates though the summer, meaning holidaymakers should stay vigilant. The pound is currently trading at 1.123 against the euro, according to

Bloomberg, at the time of writing. Michael Brown, currency expert at Caxton FX, spoke to Express.co.uk about the precarious situation. He said: “Sterling closed broadly unchanged against the

euro on Wednesday, with a lack of major economic releases from either side of the pairing resulting in an absence of volatility. “Despite a brief surge after Conservative leadership

favourite Boris Johnson indicated that a no-deal Brexit would not be his preferred outcome, the pound’s gains were short-lived as sterling retraced after a motion to rule out a no-deal

Brexit was defeated in Parliament. “Today, the economic calendar remains sparsely populated meaning markets are likely to continue being driven by ongoing political uncertainties in the UK.

“Despite firming recently, the pound remains vulnerable to downside moves should a no-deal exit from the EU become a more likely outcome.” It relates to the documents needed at border

control - and, surprisingly enough is nothing to do with passports. Instead, as well as a passport, Britons will need to show a return or onward ticket. Yet the curveball which will now

feature in a post-Brexit travel climate is that travellers now need to “show you have enough money for your stay”. The FCO website stipulates: “Border control: you may have to show your

return ticket and money. “There will be other changes from 31 October 2019 if there’s no deal.” It added: “At border control, you may need to show a return or onward ticket, show you have

enough money for your stay and use separate lanes from EU, EEA and Swiss citizens when queueing.”