#currency-exchange

#currency-exchange

"Once again, we found big price variations in the destinations surveyed, particularly comparing those in the Eurozone. For example, prices in the Algarve are almost £100 lower for the same 10 items surveyed than in Ibiza."

On Monday morning, sterling edged higher against the dollar, trading at $1.356, recovering around 0.3% from losses experienced last week.

Market players are anticipating almost a 60% chance of a Federal Reserve rate cut in September, which diminishes the US dollar's attractiveness against the Yen.

The forex market operates through a network of banks, brokers, and financial institutions rather than a centralized exchange, creating numerous trading opportunities for both individuals and institutions.

Due to the weaker US dollar, vacations in Europe and Japan this summer are likely to cost travelers significantly more than expected.