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Pound soars as British holidaymakers take advantage of deflation

The Telegraph has reported that the pound has jumped on signs that the UK economy could be bouncing back from a disappointing first quarter as holidaymakers hit the high street in anticipation of the holiday season.

According to figures published by the Telegraph, sterling climbed by more than a cent against the dollar as newly-released retail sales figures showed that consumer spending climbed three times faster than analysts had expected this April. [1]

British Holidaymakers to Europe have also been given a further spending boost after the pound soured against the euro as a result of the Greek debt crisis.

Koko Sarkari of ICE said: “Those heading to the Eurozone will find their money going further than at any time in almost seven years so it makes sense to take advantage of the rates on offer.”

Furthermore cheaper fuel and rising pay has left would be holidaymakers with more room to play with, easing the pressure on budgets. Just 27pc of people surveyed by Lloyds in April said that they were not planning on having a summary holiday [2].

[1] Peter Spence, The Telegraph Online
[2] Peter Spence, The Telegraph Online