Saturday 27 August 2016

Weaken Pound has helped to boost the travel industry

Pound Sterling

British holidaymakers has already started to take the advantage of weaken Pound Sterling.

Sterling was up by around 0.77 per cent against the euro today to sit at 1.17, and crept higher against the US dollar to 1.32.

It comes after a plethora of data over the past week showed Britain's economy performed better than expected in the weeks following the vote to leave the European Union (EU).

The pound is also at multi-week highs against the Canadian and New Zealand dollar.

Sterling took a heavy hit after the Bank of England cut interest rates and increased its money-printing programme earlier this month.

Now markets are predominantly focused on American monetary policymakers and whether the world's largest economy will raise interest rates this year.

Central bankers from around the world are set to meet at the Jackson Hole Symposium at the end of this week.

Onlookers will be looking for clues on how policymakers are set to implement policies in the coming months.


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