Pound slumps to ten-month low against US Dollar as referendum shocks the exchange markets
8 Sep 2014
The Pound has dropped to a ten month low after news broke that the “Yes” campaign has taken the lead in the opinion polls just 10 days before the Scottish independence vote.
Compared to just two months ago, the Pound is down six per cent and five per cent against the US and Australian Dollars respectively. Against the Euro, the Pound is down by one per cent.
David Swann of Travelex comments; “This slump in the strength of the Pound is a stark contrast to its performance in July, when it achieved highs against the Euro. For consumers, this will impact on anyone looking for some last minute sun, with Brits receiving $48 USD (£30) and $43 AUD (£25) less on every £500 exchanged, when compared to July.”
For those who are keen to keep an eye on exchange rates, the Travelex Rate Tracker can do all the hard work for you by sending alerts when specific currencies reach a significant high or low.
Travelex is the world's largest foreign exchange specialist with almost 1,500 stores and 1,250 ATMs across 28 countries, at key airport, seaport, rail and tourist locations. Over 40% of travellers - 1.7 billion passengers a year - pass through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Paris, Sydney & Tokyo. Every hour, Travelex provides foreign currency to more than 2,000 customers.