Brexit woes have hit the value of sterling just in time for the May Bank Holiday getaway with its value down to around $1.27 compared to around $1.39 this time last year. It is not clear yet how much of an effect this is having on demand, however, the recent woes in the industry include Thomas Cook announcing a £1.4 billion loss so it may be having some effect. Unfortunately, the continuing uncertainty is likely to mean that the exchange rate remains volatile and further falls are possible until the decision on Brexit is made.
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Of course, people could choose to have their half-term break in the UK, so avoiding the issue of Currency volatility, and the long term weather forecast doesn’t look too bad for a change.
