Pound to euro exchange rate: GBP slumps after Boris Johnson UK lockdown – FCO latest

The pound to euro exchange rate continues to be impacted by coronavirus. At the time of writing, there are 381,621 total confirmed cases globally. In the UK there are 6,726 cases. There have sadly been 335 deaths.

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Yesterday Boris Johnson announced tough measures were being introduced across Britain.

Johnson told the public the nation is facing a national emergency and they must stay at home to save lives.

Police will enforce the lockdown by breaking up groups and imposing fines of £30 upwards on people who flout the rules.

Speaking in Downing Street, the PM said the only valid reasons for venturing outside were to buy food, carry out essential work or for medical reasons.

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Pound to euro exchange rate endured a “modest daily loss” yesterday (Image: Getty Images)Pound to euro exchange rate: The pound is currently trading at 1.0754 against the euro (Image: Bloomberg)

One outdoor trip for exercise each day is also allowed but there should be no more than two people together in public, except for members of the same household.

All non-essential shops have been ordered to shut down, weddings cancelled and religious gatherings banned, except for funerals.

These changes have impacted the market which continues to monitor the pandemic.

So what have these seismic shifts in day-to-day life in the UK meant for the exchange rate?

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The pound is currently trading at 1.0754 against the euro, according to Bloomberg at the time of writing.

Michael Brown, currency expert at international payments and foreign exchange firm Caxton FX, spoke to Express.co.uk regarding the latest exchange rate figures this morning.

“Sterling endured another volatile trading day against the euro on Monday,” said Brown.

“It eventually succumbed to a modest daily loss as markets reacted to the stricter ‘lockdown’ measures imposed by the Prime Minister in an attempt to control the spread of coronavirus.

Pound to euro exchange rate: Johnson told the public the nation they must stay at home to save lives (Image: Express)

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“Today, markets will once again continue to closely monitor the pandemic.

“They will also cast an eye over this morning’s flash PMI figures, which will provide a good leading indicator of the economic impact of the virus.”

Last night the UK Foreign and Commonwealth Office (FCO) unveiled an urgent new travel warning to Britons.

“As countries respond to the COVID-19 pandemic, including travel and border restrictions, the FCO advises British nationals against all but essential international travel.

“Any country or area may restrict travel without notice.

Trending Pound to euro exchange rate: These changes have impacted the market (Image: Express)

“If you live in the UK and are currently travelling abroad, you are strongly advised to return now, where and while there are still commercial routes available.

“Many airlines are suspending flights and many airports are closing, preventing flights from leaving.”

Many people are worried about the money they’ll lose after holdiays and flights are cancelled.

On this subject, Rory Boland, Which? Travel Editor, commented: “We’ve heard from hundreds of people who face losing large sums of money because their travel plans have been left in tatters or they have been abandoned abroad and face extortionate bills to get home.

“It’s vital that the government, insurers and the travel sector work together to tackle the huge challenge posed by coronavirus, as the travel industry depends on people having confidence that they will be protected in times of crisis.”