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The Cost Of Going Abroad For A Holiday Is Rising...

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Like others on this forum I have known that sterling has been taking a hit against other currencies.

I was withdrawing some cash from a bank yesterday and was shocked to see the tourist rates for major currencies.

The pound has dropped against the Euro, $ and tanked against the CAN$.

18 months ago you could have bought 2.30 CAN$ for each £, now it is just 1.86 CAN$. Quite a drop and probably still dropping?

How many people on here are still planning to go abroad for their holidays this year, even though the cost while abroad is getting greater??

Do you think that the public will cut back on holidays abroad this year due to rising household costs, stagnant wage increases, unsecured debt and high mortgage costs?? Or will they not realise what is happening with our currency and book a holiday abroad anyway??

I would imagine that tourism in this country will benefit from this... camping holidays set to become more popular!!

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I have always holidayed in the british Isles, and always intend to. I figure i love traveling round all these fantastic places we have here so much - i haven't the slightest intention of going abroad (did a couple of times on school trips). Luckily my husband feels the same - he travels abroad a lot for work, but isn't keen on going abroad on holiday.

I can't understand the hype. Okay you can get cheap holidays - but many people i know who go abroad think nothing of spending 2/3k - and think it's a neccessity. The places here are too beautiful ironbridge/northumberland/wales to name just a small few - plus i'm not keen on hot places. Many people who go on holiday abroad - know absolutely nothing about what we have here. I can't understand the hype - i just don't get what i'm missing out on (okay places like Italy look beautiful - but there's too much here to think about going there). Especially these "brits abroad" places - they sound awful.

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We emigrated with the £ at 1.46 to the Euro. No change.

We thought the £ was going to tank to below 1.40. If the political risks around the Euro are resolved I still think this will happen, and a house price crash too - but I am a terrible investor as this example shows.

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I think we have to remember currencies are a 2-way trade. The pound itself could be regarded as having done very little recently. If we check IR futures, they have barely moved one way or another.

However, the outlook for other economies may have strengthened or weakened themselves. Canada is a particular example and the currency has strengthened sharply against most others in recent weeks. Japan may follow soon.

As with most markets, the currency markets factor in events well in advance, e.g. another rise in Euro IR's is a 'done deal' for March and hence there has been little recent reaction. Sharp moves come on the back of unexpected events or data e.g. hurricane damage

Holiday exchange rates build in profit and hence are poor compared with the official exchange rate. That 'commission free' sign is really a big porky.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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