Commenting on the Pound falling to just €1.1096 to £1, Stephen Heath, Chief executive of FairFX.com, said: “For the first time since the launch of the Euro, Sterling has fallen below €1.11 to £1, and at €1.1096 to £1 it is at its weakest position. I fear we won’t have long to wait until we see the Pound fall to just €1 to £1, and perhaps slip even lower.

“Anyone who is planning to buy Euros in the near future should consider buying at least half their foreign money now before rates get even worse, and buy the rest later just in case Sterling regains some strength.”

Monday 15 December 2008, 03:19pm

Tags: euro, euro rate, euros, exchange rates, spending power, sterling

Travellers flying from regional airports could find buying their foreign cash comes at a hefty price tag. New analysis from FairFX.com reveals changing £200 at Birmingham Airport will only get holiday makers €199 after charges – less than €1 for £1

Travellers flying from regional airports could find buying their foreign cash comes at a hefty price tag. New analysis from FairFX.com reveals changing £200 at Birmingham Airport will only get holiday makers €199 after charges - less than €1 for £1.

Stephen Heath, Chief Executive of FairFX.com, said: "It's probably only a matter of time before the Pound weakens to a point of currency exchange rate parity with the Euro. However, Brits buying holiday spending money from Birmingham Airport will be faced with this dire exchange rate before the rest of the country, with Liverpool and Luton airports not far behind.

"This is because regional airports have long taken advantage of travellers who leave buying their holiday cash until they reach the airport by offering far worse rates than outside the terminal

"Brits planning a European skiing holiday in the New Year might want to buy half their Euros now at today's rates to limit the pain should Sterling fall even further, and the rest before they depart just in case Sterling should improve."

Currently, you can still get €1.12 to £1 with the FairFX.com currency card, seven per cent above the average airport rate, and 12 per cent better than Birmingham Airport.

Thursday 11 December 2008, 05:40pm

Tags: currency volatility, euro, euro rate, exchange rates, sterling

Commenting on the future of Sterling after yesterday's base rate cut, Stephen Heath, Chief executive of FairFX.com, said: "Yesterday was key for understanding where the Pound is heading. All the key technical indicators show we might see Sterling strengthen against the Dollar. However, November set a precedent and the markets are expected to rally behind the Pound if it falls to around $1.44 to £1.

"The $1.44 mark is currently a key technical trigger point for traders who will start to support Sterling heavily at that rate for the short to medium term. It is possible there will be further falls next year, but I doubt we will go below $1.30 to £1.

"As yet the Euro has not shown any sign of weakening against the Pound, so fundamentally we have no reason to expect Sterling to begin to strengthen against the Euro for a while to come.

"All in all the Pound isn’t looking strong, but the markets aren’t going to let it go under just yet."

Friday 05 December 2008, 03:32pm

Tags: dollar, dollar exchange rates, dollar rates, euro, euro rate, euros, sterling

Commenting on the Pound’s crash yesterday, Stephen Heath, Chief executive of travel money specialists FairFX.com, said: "Following a good week when the Pound started to look a little healthier against the Dollar, it came as a shock when by the close of trading yesterday the Pound had suffered its biggest one day fall since 1992.

"This was largely due to weak manufacturing and mortgage data fuelling fears Britain is facing a long and deep recession. Against the Euro, it was a similar story as Sterling lost four cents on the Euro.

"All eyes are now on the MPC as traders speculate another rate cut in the 100 basis point region is almost inevitable as policy makers try to revive the economy by any means necessary."

Tuesday 02 December 2008, 02:02pm

Tags: dollar, dollar exchange rates, dollar rates, euros, exchange rates, sterling

Commenting on Sterling’s increasing weakness against the US Dollar and Euro, Stephen Heath, Chief Executive at FairFX.com, said: "It was an horrific start to the week for the British currency, as the pound sank further against the greenback on Monday alone than at any time in the past 15 years. Many market players held the collapse of Bradford and Bingley solely responsible.

"As the pound collapsed from $1.84 to $1.79, a fall of 2.7 per cent, the Bank of England started to face growing pressure to cut interest rates ahead of the MPC meeting in October. However, it is too early to say whether rates will be cut; at the moment it seems a rate cut is likely, but this could change in the blink of an eye. All we really do know is that a rate cut would not do any favors to the sinking Pound."

Wednesday 08 October 2008, 09:47am

Tags: interest rates, opodo, pound, pound weakness, sterling