It was announced yesterday that Portugal is to be demoted to the ‘amber list’ from Tuesday, and no other countries will be added to the ‘green list’.

This came as a shock to the travel and tourism industry, however, Health Secretary Matt Hancock defended the decision saying, “we’ve got to follow the data”.

Nonetheless, the pound has strengthened against the euro but is struggling against the dollar.

The US has seen a series of positive data releases which has boosted the dollar and subsequently weighed on the euro.

Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on  020 7898 0541 to get started.

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