THE Pound could finally be regaining its strength against the Euro after it hit a four-month high of 88 pence yesterday and economists spoke of room for further gains in the value of the Pound against the Euro as it benefits from broad weaknesses in the single currency due to concerns over Greece's financial condition and, to a lesser extent, Spain's.
According to Reuters, some London economists can see the Pound continuing to grow in value over the next six months and the Euro could be dragged down to 84 pence come the eve of the summer holiday season.
British tour operators and travel agents also welcomed the news yesterday.
At the start of the year, a sudden surge in the sale of summer holidays was reported but the big freeze has literally frozen the summer holiday market.
However, the travel industry is braced for a rush on summer holidays once the country has thawed out towards the end of this month. Many Britons were fed up with having endured two washout summers and were already determined to find some guaranteed sun this year, but the weather over the past two weeks is only going to increase the number of Britons desperate to get away and enjoy some hot weather this year, a travel industry source said yesterday.