British holidaymakers hit as pound slides

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The pound has fallen to its lowest level for five months just as many British holidaymakers start to get ready to head off for the late-May half-term break.

Sterling had gained some ground in recent months, but in recent days rates have fallen back to the low levels seen during the Christmas holidays.

Against the US dollar, the pound fell below $1.27 for the first time since January. It also fell early in the day against the euro.

But it picked up again later in the day in a sign of its current volatility.

Currency experts say Brexit uncertainty and the US-China trade war have both contributed to the pound’s recent fall.


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