Following a meeting between Prime Minister, Theresa May, and new US president, Donald Trump, there has been a sudden recovery in the value of the pound against the dollar.
Retail director at foreign exchange specialist No1 Currency, Simon Phillips, has suggested that the increase in value of sterling will help encourage holiday bookings during the January peaks as the pound has risen to its highest value in the space of six weeks.
‘As January grinds on, booking a holiday is often seen as an antidote to the winter blues, but many Britons are likely to have held off booking this year as the weak pound has made overseas holiday bargains harder to find.
‘However, the pound’s sudden rise this week will nudge down the cost of travelling abroad. The timing couldn’t be better for anyone planning a ski break or a Valentine’s getaway, as British pounds now go a touch further’.
He added: ‘Exchange rates have been on a rollercoaster over the past few months, and continuing uncertainty over Brexit means they’re set to stay volatile- and the pound is unlikely to remain at today’s level for long.’
‘So even if you’re not planning to travel for a few weeks, it could be smart to cash in on the improved exchange rate by stocking up on some foreign currency now!’
What are your thoughts on the news of the pound strengthening? Will this make you book a cruise or alternative holiday in the coming months for fear of the pound’s value dropping again? Are you thinking about stocking up on some foreign exchange?
Leave us your thoughts and comments on today’s news! Are you relieved to hear of the British pound’s new increased value after Brexit? Do you agree that now is the time to book a cruise? Or are you someone to carry on as normal regardless of the update?
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