You can get a cheaper holiday than usual thanks to the pound dropping against the dollar
HOLIDAYMAKERS may want to think about the best way to buy their holiday cash as the pound has dropped to new lows against the dollar and the euro.
Rates could also remain uncertain and even fall further given the current changing economic and political backdrop. “Economic performance will be in focus today, with the release of May’s GDP figures and a weak outlook would likely exert further downward pressure. “Today’s focus centres on Fed Chair Mr Powell’s Congressional testimony, where markets will be looking for signs of the Fed’s next policy action, with a rate cut still seen as a near-certainty.
"To do this, buy roughly half what you need at today’s best rate – whether in cash or on a prepaid card, and then for the rest just rely on the best rate on the day you spend."to find the exchange firm offering the best deals near you.Andrew Hagger, a personal finance expert at Money Comms said: "4 per cent of people said they buy travel money on the day which often means buying at the airport and that's the absolute worst place you can buy it.
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