Travel insurance customers to get 'cheaper holidays'
26 June 2009 10:19
British travel insurance customers could soon find their holidays getting less expensive, it has been suggested.
The prediction comes from foreign exchange specialist HiFX, which hinted the pound is likely to get stronger.
It follows the European Central Bank (ECB) announcement stating sterling was up 0.36 per cent against the Euro on Friday (June 12th).
HiFX currency strategist Marc Cogliatti explained trips abroad would come down in price, but added it is unlikely they will reach the low of two years ago.
"In the grand scheme of things the pound is now 15 per cent higher now compared to where we were at the start of the year - that is obviously good news for holiday makers," he said.
Mr Cogliatti commented he had noticed how expensive trips to Europe had seemed after visiting the continent earlier this year.
Travel insurance customers may therefore decide to head somewhere further afield to make their money stretch further, such as South Africa, which is hosting the Confederations Cup at the moment.