Corporate foreign exchange news

Travel money buyers 'could benefit' from dollar rate

Wednesday, 15 December 2010 09:05:30 GMT

Published by Zeb Bham
More people could be persuaded to buy travel money for a trip to the US if predictions of dollar weakness prove to be true.
A travel industry spokesperson argued that people may opt to take their travel cash in US dollars as they look to benefit from a weaker dollar.
Sean Tipton from ABTA - The Travel Association, said: "We always see the same effect when the sterling rallies against the dollar, that there is a big increase in visitor numbers from the UK."
He added that this trend is once again being seen and if it continues a number of traditionally popular destinations will continue to flourish next year.
Separately, Mr Tipton suggested that more Brits may once again opt for trips to within the eurozone next year as sterling strengthens against the single currency.
Sovereign debt problems affecting the peripheral economies in the eurozone are playing on euro strength against its main trading counterparts.
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