Pound hits “seven year high” against the euro

The day after the ECB began its controversial foray into full-blown quantitative easing, the pound has reached a more than seven-year high against the euro – promising British holidaymakers huge ‘bargains’.

As the BBC pointed out, “UK holidaymakers to Europe would have received €707 for every £600 they exchanged a year ago. Today they would get €822”.

With the pound pegged at €1.41 last night (Tuesday), hopes throughout southern Europe are that the news will send summer visitors flocking.

Meantime, the ECB’s €60 billion monthly bond-buying programme is expected to continue into 2016.

One of the other ‘upsides’ of the ‘weak euro’ is that exports throughout the eurozone should start to appear “more attractive” to countries outside the single currency.

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