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Pound to euro exchange rate: Brexit vote to impact on GBP today – deal latest | Travel News | Travel

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The pound to euro exchange rate benefited from Eurozone data yesterday and has climbed against the common currency. A meaningful vote on the terms of Brexit is scheduled to take place today which will affect the pound’s movements. Experts have warned the all-important vote on Theresa May’s proposed deal could see GBP falling should it be rejected. Uncertainty around the future of Britain will likely cause the pound to fluctuate throughout the day.

Sterling is currently trading at €1.124 against the euro, according to Bloomberg at the time of writing.

Laura Parsons, currency analyst at TorFX, spoke to Express.co.uk regarding the latest exchange rate figures.

“Markets might be braced for today’s crucial vote on PM Theresa May’s Brexit deal, but that didn’t stop the pound advancing on the euro yesterday,” she said.

“The GBP/EUR exchange rate was able to remain comfortably above €1.120 as less-than-impressive industrial production figures from the Eurozone exacerbated concerns about the bloc’s economic output.

“The pound may spend today fluctuating ahead of the vote, and if the deal is rejected by a significant margin (an outcome which would increase the current level of uncertainty) we would expect sterling to fall.”

In a speech yesterday to workers at a factory in Stoke-on-Trent on the eve of the critical Commons vote, May claimed the UK is more likely to stay in the European Union (EU) than leave without a deal.

The announcement saw the pound climb again the euro, trading at €1.1225 against the euro at just after 12:00 GMT, up from the open of €1.1199.

Comments from an unnamed Cabinet minister also suggested the UK may not leave the European Union as planned on 29 March. /finance/city/1071881/Pound-euro-exchange-rate-GBP-EUR-eurozone-industrial-contraction-tfx

The source told the Evening Standard newspaper: “Certainly, if there was a defeat on Tuesday and it took some time before it got resolved, it’s hard to see how we can get all the legislation through by March 29.”

Michael Brown, Senior Analyst at Caxton FX comment on the impact of Brexit on sterling: “While the outcome of the parliamentary vote on the Brexit withdrawal agreement cannot be known for sure, it appears increasingly likely that the vote will go against Theresa May on Tuesday, and the Conservative government.

“Such an outcome would create further uncertainty and exert more downward pressure on Sterling, likely in the region of 3 per cent – 5 per cent as an immediate reaction to the vote.

“However, this might not be the end of the misery for the pound as its future currently lies with four possible options – further negotiations with the EU leading to a second parliamentary vote, a no-deal Brexit, a motion of no confidence in the Government being put forward by the Labour party, or a delay to the Article 50 process.

“The first three scenarios would be sterling negative in the near term, with the most downward pressure on the pound set to come from the risk of a disorderly, no-deal Brexit.

“In such a scenario, sterling could fall by up to 10 per cent, with there being no clear level at which the Pound would find support. Meanwhile, a motion of no confidence, if successful, could lead to a general election thus prolonging the uncertainty and providing a headwind to any Sterling appreciation.

“Perhaps the best-case scenario for the pound, barring the deal passing in parliament, would be a delay to the article 50 process.

“This decision would have to be agreed by the EU, however, they are likely to do so, with the pound set to appreciate due to the removal of the pressure of hitting the 29th March deadline for exiting the EU.”

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Travel & Escape

American woman faces $2,800 parking bill after leaving car in Toronto during pandemic

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Parking in the city can be costly, but one American woman is learning just how bad it can be after being unable to retrieve her car for nearly a year.

Detroit resident Kim Richardson left her 2004 Honda Element at the Park2Sky lot by Pearson airport in March 2020 before flying out to Europe for a medical procedure. She originally planned to retrieve it within two weeks but partway through her trip, the Canada-US border got closed due to COVID-19 precautions.

Richardson’s return flight was rerouted to Detroit and she’s been unable to return to Toronto since.

What was originally a $100 bill has now inflated to $2,800 as the lot’s owner says he has a business to operate and is owed payment for 11 months of storage. However, Richardson believes she’s being extorted for an issue beyond her control.

Park2Sky personnel claim that several Americans who found themselves in similar predicaments have had their cars shipped home.

“I don’t understand, I don’t know what’s going on here. Business is down, I’m not making any money at all. People who leave their car are paid. She’s the only one that hasn’t paid,” said the owner to CBC News this week.

The stalemate is expected to last a while longer as travel restrictions remain in place and Ontario Provincial Police have said they won’t get involved in a civil matter.

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All systems are go for St. Lawrence Cruise Lines in 2021

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KINGSTON — Despite Canada’s newly extended cruise ship ban, Canadians still have a small-ship cruising alternative in 2021 with St. Lawrence Cruise Lines.

The small-ship operator, which sails on the St. Lawrence and Ottawa Rivers, has confirmed operations for 2021, with overnight cruises on both rivers from May 20 to Oct. 24. A variety of cruises ranging from four to seven nights will depart from Kingston, Ottawa and Quebec City, sailing exclusively in domestic waters with stops at select ports in Ontario and Quebec.

On Feb. 4, Canada’s Minister of Transport, Omar Alghabra announced that Canada’s cruise ship ban will be extended until Feb. 28, 2022. This measure, which effectively prohibits cruise vessels carrying more than 100 passengers from operating in Canadian waters, does not impact the small-ship operations of St. Lawrence Cruise Lines and its 32-stateroom CANADIAN EMPRESS.

“We are excited to offer travellers a small ship option for the 2021 season,” said President Jason Clark. “Our overnight cruises stay close to shore in Canadian waters and our COVID-19 Health and Safety program has been recognized for its high standards.”

This past December, the cruise line was awarded the Safe Travels Stamp by the Tourism Industry Association of Ontario (TIAO) for adherence to global standards of health and hygiene. The program includes a wide range of safety measures, including reduced passenger loads, masking, physical distancing and hospital-grade electrostatic disinfecting for both private staterooms and shared spaces. Plus, all staterooms have access to fresh air, climate controls and views of the river.

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Here’s How Canada’s ‘Screening Officers’ Will Check On Travellers During Quarantine

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The federal government is reminding all travellers in Canada that “Screening Officers” may pay them a visit post-arrival.

In a statement about the country’s latest travel restrictions, Transport Canada confirmed that newly-trained officials would be tasked with checking up on travellers during their two-week quarantine period.

The role of the Screening Officers will be to visit travellers’ quarantine locations to “establish contact, confirm identify and confirm that travellers are at the place of quarantine they identified upon entry into Canada.”

This is to make sure individuals are complying with Canada’s mandatory 14-day quarantine requirement.

The checks will be conducted across 35 Canadian cities, having already started in Montreal and Toronto back in January.

The officials will provide “compliance education” and will be able to issue verbal warnings, but stronger enforcement action will be referred to the Public Health Agency of Canada (PHAC) and then law enforcement for follow-up checks. 

Failing to comply with the Quarantine Act or with Screening Officers’ instructions could result in fines of up to $750,000 or even jail time.

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