Travel industry 'could benefit from currency exchange rates'

The improved currency exchange rates for sterling could be of benefit to the travel industry.

Frances Tuke from the Association of British Travel Agents has suggested that the improving rate of exchange on the pound will "undoubtedly encourage more people to book an overseas holiday".

Sterling was up against the euro today (June 24th), trading at �1.219 at 11:30 BST.

Chancellor George Osborne's emergency Budget was revealed earlier this week (June 22nd).

Analysts have suggested that this is behind the recent increase in the pound's value.

Ms Tuke added that there is "a link between a strong exchange rate and [holiday] bookings".

She noted that "any boost in confidence about booking a holiday has to be welcomed" following the difficulties which have hit the industry, including the Icelandic volcanic cloud and the British Airways strikes.

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Posted by Eleanor Ward