The euro holds hands with the pound

It had to happen – we have been watching the pound slowly creep up towards the euro for months and now it is official…one euro just about buys one pound. Two years ago £100 bought 145 euros  but by last night those buying their currency at the last minute at airports are being handed as little as one euro to the pound  -  in some cases even less.
At Luton Airport, one bureau de change was offering 1.04 euros to the pound!

This will have huge knockon effects for the tourist industry should it continue – holiday costs will soar, the resorts in Spain will sit virtually empty over Xmas instead of hosting Brits trying to catch some warmth over the festive season.

We have already seen the effects this year – very few Brits travelled to France in our region to the extent that one very convenient flight has been cut by Ryanair.

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