A large number of people will start to feel the weakness of the UK’s pound when they go on holidays this year. The more rapid growth in the euro causes them pay an increase in price of all the hotels, meals in major European destinations.

As more traders continue to increase Europe single currency to record highs, anyone on holiday is expected to pay more than one fifth they normally would compared to last year.

There has been over a ten percent fall since last year, but the Euro has regained strength leaving the pound to drag behind. The slow growth of the pound is being blamed on by its ties to the US markets.

Initially, the euro reached a new level to trade at 80p yesterday, the International Monetary Fund warned on, it is only 1.6% growth in the UK and not the 2.25 percent this year, compared to the government’s claims.

Tags: European Economy News //