Growing concerns about Donald Trump’s ability to enforce tax and regulatory reform has meant the Dollar has decreased in value. This benefited the pound greatly with UK retail sales data also showing the strength of the pound on Wednesday morning.
US shares in the markets fell heavily after Donald Trump’s latest firing of the FBI director James Comey. This put the British Pound up 0.6% against the US Dollar.
The rise in shares in the UK meant that the Pound was also up 0.9% higher than the Euro once again.
What des this mean for holidaymakers?
Ever since the EU referendum vote, FTSE and the Pound have taken a hit and slowly moved towards original figures prior to the vote. The Pound has now risen to $1.30, it’s the highest rate since September.
Current valuations also put the Pound at the equivalent of €1.17 Euros for more good news for those traveling overseas from the UK.