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Pound to euro exchange rate: How did Brexit vote affect GBP? | Travel News | Travel

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The pound is at the mercy of Brexit and, with the UK facing even more uncertainty following Theresa May’s defeat yesterday, there will be even more volatility for GBP, experts have warned. Sterling fell against the euro yesterday evening following the vote but has soared since, peaking higher than yesterday morning. The pound is currently trading at €1.128 against the euro, according to Bloomberg at the time of writing. “Theresa May has just experienced the largest defeat for a sitting government in history,” Ian Strafford-Taylor, CEO of currency expert FairFX said.

“As Labour leader Jeremy Corbyn tables a vote of no confidence in the government – which could well trigger a general election – the UK faces even more uncertainty, and consequently even more volatility for the pound.”

“As MPs went to vote on May’s proposed Brexit deal, the pound stood 14 per cent down against the Euro, and down 13 per cent against the US dollar compared to the day of the Brexit Referendum.

“The referendum results back in June 2016 marked the start of a rollercoaster journey for the pound, which is still yet to return to its pre-Brexit rates against the Euro.”

It is uncertainty around Britain’s future which has the greatest impact on the pound and will continue to react to Brexit developments.

“Whenever there is economic and political uncertainty this creates negativity and causes a drop in confidence in the market, meaning that the pound decreases in value accordingly,” said Strafford-Taylor.

“While nothing actually happened aside from the vote result in the 24 hours from the Brexit referendum back in 2016, it was the potential uncertainty of what this meant for the economy which led to the pound’s fall.”

“Analysts will be keeping a close eye on political and economic factors in the UK, along with confidence and sentiment. The market will be looking at the strength of any potential political allies for the UK and the implications this will have on the economy. All that is certain is that the pound will continue to react to news.”

Britons heading abroad on holiday are advised to keep an eye on the exchange rate

It is also well worth choosing a country where the pound is likely to stretch further

“Currency must play a pivotal role in holiday planning, and savvy holidaymakers should be keeping a very close eye on currency and its reaction to the latest political events,’ explained Strafford-Taylor.

“By choosing a destination where the pound is strong, the amount of money you need to enjoy yourself while you’re abroad will decrease, allowing you to see more of the world, for much less.”

For instance, Turkey has dramatically increased in popularity with British holidaymakers thanks to the crash the Turkish lira in 2018. 

The ongoing weakness of the Turkish lira means holidaymakers can expect their pounds to stretch almost 29 per cent further in Turkey than a year ago.

Countries where the pound will go further include Turkey, Argentina, Russia, Zambia, Sri Lanka, South Africa, Brazil, Chile, Iceland and Australia

Strafford-Taylor added: “Predicting exactly how the pound will react against the Euro and other currencies in the coming days is difficult to predict, however it is likely to react in one way or another, which could greatly impact people not only planning traditional eurozone holidays but also those looking further afield.”

According to the Post Office, for customers withdrawing over £400 today, they will get €1.08 for every £1. Those getting out over £1,000 will get €1.10 for £1.

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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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