Could the days of cheap Foreign Holidays be a thing of the past? The pound is heading towards a crisis.
Sterling has continued to weaken against the dollar and the euro on continued worries about the health of the UK economy. Against the dollar, sterling fell to a seven-month low, and against the euro it was nearing a 15-month low.
The falls came after Bank of England policymaker Martin Weale said that sterling may need to weaken further to bolster the UK economy. Currency speculators are also betting that sterling will fall, data shows.
Sterling fell 0.5% to $1.543, its lowest since 13 July, 2012. The euro was up 0.3% against sterling, making a euro worth 86.3 pence.
http://www.bbc.co.uk/news/business-21496997
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