Impact of a weakening pound on your finances

The pound continues to trade close to or at historic lows against other major currencies in the wake of Britain’s decision to leave the European Union. Against the US dollar, the pound continues to bounce around close to the bottom of levels not seen in more than three decades while against the euro, sterling has recovered a little of the value lost on June 24 (Brexit result) but still buys only about €1.17 making a euro worth about 86p. We’ve heard a lot about exporters might benefit from a fall in sterling while importers might suffer. But how does the pound’s weakness affect the ordinary British consumer and will it make us all better or worse off? Holidays We’re almost at the time of year when it’s traditional to start thinking about next summer’s holiday to the sunshine. Meanwhile, hundreds of thousands of Britons will be travelling to the Alps and other snow-covered peaks in the next few months to go skiing. So how will the value of the pound affect you if you are


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