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Brexit news: What impact has Brexit had on the pound? Expert reveals exchange rate latest | Travel News | Travel

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The pound to euro exchange rate slumped following the most recent Brexit vote in Parliament on Thursday 14 February. However, the pound was in recovery mode this weekend, looking to take back some lost ground after sterling was stuck near one-month lows last Thursday.  So what impact has Brexit had on the pound? Ian Strafford-Taylor, CEO of currency expert, FairFX explained all. “The pound is down 13 per cent against the Euro and the US Dollar since the day of the Brexit referendum in June 2016 and is still yet to return to its pre-Brexit rates against the Euro,” he said.

“Political uncertainty plays a huge role in the stability of currency and exchange rates and the last thirty-two months since the referendum has been a prime example of that.

“Whenever there is a parliamentary vote or update on the UK’s negotiations with the EU, we see a spike in support requests as customers try to understand what the latest developments mean for the value of the pound.”

Strafford-Taylor added: “There’s been a significant increase in the number of queries from new and existing customers about the impact of Brexit and what it means for their business and personal international payments as well as their travel money.

“Brexit is an unprecedented event so it’s no wonder there is heightened anxiety around the consequences it may or not have.”

It’s possible that people could well benefit economically from Brexit an even make money.

“With the Brexit deadline fast approaching, making the most of improvements in non-euro countries is key to maximising holiday money and getting more bang for your buck,” Strafford-Taylor said. 

“Currency should be a big deciding factor behind holiday planning so savvy holidaymakers should be keeping a very close eye on amidst the Brexit updates.

“By choosing a destination where the pound is performing well, 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.

“Using expert currency products for international payments will also help to maximise your return and minimise any risk.

The currency expert also provided some insight into how transferring money to Europe will be affected by Brexit

He said: “As it stands, Brexit shouldn’t directly impact you if you’re sending funds to Europe.”

However, the actual impact of transferring money will not be clear before we know whether the UK will leave with – or without – a deal.

If there is a deal it’s possible Brexit could see Sterling strengthening. Strafford-Taylor said: “It’s possible that the pound will strengthen if the UK and EU can agree on a divorce deal, but it all depends on the deal itself. 

“If the market feels the deal isn’t economically favourable to the UK, then we could even see the pound lose ground.

“The most likely way we could see the pound strengthen is if a deal is agreed that is economically favourable to the UK.”

Money Saving Expert Martin Lewis has revealed the three things holidaymakers must do before Brexit happens.

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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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