Teh One Who Knocks
02-23-2016, 12:47 PM
By Julia Rampen - The Mirror
http://i.imgur.com/yRk0aA1.jpg
The value of the pound plunged against the euro this morning after Boris Johnson broke with the Tory leadership and declared his support for a Brexit .
After a long wait, BoJo revealed on Sunday he would defy the Prime Minister and join the campaign to quit the EU.
It is a major blow for the In campaign because of Johnson’s high profile and popularity with voters.
And it's also a worrying sign for holidaymakers. As the odds of a Brexit increase, foreign currency traders are pulling out of the pound.
Nicholas Laser-Ebisch, from travel money firm Caxton FX , said: “The pound has fallen across the board as David Cameron has announced the set date for the UK’s referendum on whether or not to stay in the EU.
“Now that there is a definite date set, UK and worldwide investors have become increasingly nervous about the possibility of an ‘out’ vote. The pound has fallen about 200 points (about 1.4%) since Friday against the dollar, and it is down across against almost all other currencies.”
“My position is that the pound will continue to weaken in the next 4 months as the uncertainty builds.”
Since mid-November, the pound has slid by roughly 11% versus the euro.
Liberal Democrat economic spokeswoman Susan Kramer said: “If those calling for us to leave are serious about wanting to keep Britain Great, they should be worrying about what is happening to the Great British pound."
This morning the pound plummeted again, with a quid buying €1.28, compared to €1.3 yesterday.
But investors in stocks and shares seemed less nervous. After slumping on Friday, the FTSE 100 leapt up 1.26% this morning.
Jason Hollands, from investment platform Bestinvest , said many big investors still expect the UK to stay in the EU: "As we saw in the Scottish independence referendum, these types of votes can often see a quiet pull to continuity at the eleventh hour.
"But that isn’t a given, as the polls are narrowing and the migration crisis on Europe’s borders is weighing on public opinion."
Get a better deal on your travel money
http://i.imgur.com/2iWbFRI.jpg
The next few months may be rocky for holiday money, but you can still get more for your pounds by planning ahead.
Did you know some cities get better deals on foreign currency than others? Check out where you’re likely to find the best rates here.
You can compare rates using a website like MoneySupermarket , Compare Holiday Money and CompareCurrency .
Another tactic is to load up a special card with foreign currency and use this to pay instead of a debit or credit card. Check out our review of a new kind of currency card, WeSwap .
http://i.imgur.com/yRk0aA1.jpg
The value of the pound plunged against the euro this morning after Boris Johnson broke with the Tory leadership and declared his support for a Brexit .
After a long wait, BoJo revealed on Sunday he would defy the Prime Minister and join the campaign to quit the EU.
It is a major blow for the In campaign because of Johnson’s high profile and popularity with voters.
And it's also a worrying sign for holidaymakers. As the odds of a Brexit increase, foreign currency traders are pulling out of the pound.
Nicholas Laser-Ebisch, from travel money firm Caxton FX , said: “The pound has fallen across the board as David Cameron has announced the set date for the UK’s referendum on whether or not to stay in the EU.
“Now that there is a definite date set, UK and worldwide investors have become increasingly nervous about the possibility of an ‘out’ vote. The pound has fallen about 200 points (about 1.4%) since Friday against the dollar, and it is down across against almost all other currencies.”
“My position is that the pound will continue to weaken in the next 4 months as the uncertainty builds.”
Since mid-November, the pound has slid by roughly 11% versus the euro.
Liberal Democrat economic spokeswoman Susan Kramer said: “If those calling for us to leave are serious about wanting to keep Britain Great, they should be worrying about what is happening to the Great British pound."
This morning the pound plummeted again, with a quid buying €1.28, compared to €1.3 yesterday.
But investors in stocks and shares seemed less nervous. After slumping on Friday, the FTSE 100 leapt up 1.26% this morning.
Jason Hollands, from investment platform Bestinvest , said many big investors still expect the UK to stay in the EU: "As we saw in the Scottish independence referendum, these types of votes can often see a quiet pull to continuity at the eleventh hour.
"But that isn’t a given, as the polls are narrowing and the migration crisis on Europe’s borders is weighing on public opinion."
Get a better deal on your travel money
http://i.imgur.com/2iWbFRI.jpg
The next few months may be rocky for holiday money, but you can still get more for your pounds by planning ahead.
Did you know some cities get better deals on foreign currency than others? Check out where you’re likely to find the best rates here.
You can compare rates using a website like MoneySupermarket , Compare Holiday Money and CompareCurrency .
Another tactic is to load up a special card with foreign currency and use this to pay instead of a debit or credit card. Check out our review of a new kind of currency card, WeSwap .