Pound to euro exchange rate: Sterling rebound against the euro on Wednesday

Pound to euro exchange rate is a priority for those travelling to Europe.

It is holiday season for many British families, so there is good news today for those looking to change up their cash.

The currency has rebounded, an expert told Express.co.uk today.

Michael Brown Senior Market Analyst at Caxton said: “Sterling rebounded against the euro on Wednesday, adding around 0.8 per cent as the pound seemed to experience significant month-end demand.”

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This comes after Monday saw the biggest one day loss in months.

Michael said: “The pound’s rise was helped by a generally softer euro after softer than expected inflation figures and data showing that 2nd quarter GDP grew at the slowest pace in almost 5 years.

“Today, focus for the pound will be on the Bank of England’s latest monetary policy decision and Inflation Report - with no change to policy expected.

“The risks for the pound appear biased to the downside - the BoE maintaining the status quo guidance of ‘gradual and limited’ policy tightening will likely result in little volatility, however a cautious message, endorsing the markets’ dovish interest rate path, will likely see the pound weaken.”

The pound to euro exchange rate has not been bolstered by the identity of the new Prime Minister. 

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