Pound hits 20-month high against euro

By Lisa James
30/05/2024
Home » Pound hits 20-month high against euro

Brits who are travelling to euro currency destinations will get a better exchange rate after the pound hit its highest level in nearly two years.

The pound traded at a high of €1.179 on Wednesday, before dipping back slightly to €1.1752.

The value of sterling has increased 2% against the euro since the start of the year.

The pound has been boosted because the UK economy has performed better than many had expected, and interest rates have stayed high. The upcoming General Election has also helped, as the markets think it will be unlikely interest rates will change before polling day on 4 July.

Markets are also optimistic that a change in UK Government could help alleviate political uncertainty that has kept sterling down in recent years, the FT says.

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