Millions fut coins of Britons heading overseas this Bank Holiday and summer will face higher holiday costs, as research carried out by foreign exchange specialist Moneycorp shows the Pound has lost value against almost 80% of the top global currencies in the past 12 months.
Moneycorp looked at how Sterling has fared against the 50 global currencies since last May. The research revealed that the Pound has weakened against 38 out of the 50 currencies in the past year.
What it means is that British holidaymakers heading to popular destinations such as Australia, the US and mainland Europe, will feel the financial pinch of the weaker buying power of the Pound this summer.