Great news for all of our guests who have booked their holiday to Turkey
In the last week the value of pound has risen against number of major currencies, says a source from the Post Office. The non- effect of the initial worry of the Brexit vote has eased city fears and now Deutsche Bank has even come out in full support of sterling against the Euro and Dollar when only a month ago they were forecasting parity with these currencies. Deutsche Bank, one of the most pessimistic financial institutions on the pound since Britain voted to leave the European Union, is reversing course on its “structurally bearish” view of the currency.
Writing on Tuesday, George Saravelos Deutsche’s global co-head of FX research calls Prime Minister Theresa May’s decision to propose a snap general election a “game-changer” that has pushed the German banking giant to reconsider its position on the currency.
Holidaymakers should benefit from the pound’s resurgence against most currencies in the last few months. Rob Gill reports of Travel Trade Gazzett, a leading Travel Trade publication.
The value of pound against the vast majority of other major currencies has increased over the last six months, according to the latest research from Post Office Travel Money. The study looks at the pound’s value against 40 other currencies over both 12-month and six-month periods. It found that the UK currency had strengthened against 38 of these currencies since October 2016 – the pound has only lost value against the Russian ruble and South African rand over the six-month period.
However, the great news for most of our guests is that: The pound has increased the most in value against the Turkish lira over the last six months with the pound now buying 25% more lira than in October when sterling reached its lowest point during 2016.