BBC: The pound's weakness against the dollar and the euro spells bad news for British holidaymakers this summer.
Fears over the UK economy are weighing on markets, causing sterling to sink below $1.20 on Tuesday, its lowest level since the start of the pandemic, before partly recovering on Wednesday.
Versus the euro, the pound is hovering near thirteen-month lows.
As a result many Brits traveling abroad in the next few weeks will find their spending money won't stretch as far.
"The pound remains a very vulnerable currency," said Jane Foley, head of foreign exchange strategy at the Dutch bank Rabobank.
"A lot of this is related to fears about growth," she continued, noting that political uncertainty and a potential trade conflict with the European Union were likely to add to investors' concerns about the UK's economic outlook. » | Noor Nanji, Business reporter, BBC News | Wednesday, June 15, 2022
