Holidaymakers faced fresh pressure on their finances last night as the pound fell to a two year low amid Boris Johnson ’s no-deal Brexit rhetoric.
Sterling tumbled on Monday, with a pound worth barely more than a euro at 1.0981, a 1.34% fall.
Against the dollar it fell 1.24% to 1.2228, its lowest since March 2017.
Nigel Green of financial advisory firm deVere Group said the pinch will be felt by all those going abroad, not just in the eurozone.
He added: “The pound is the worst-performing major currency in the last three months, meaning almost every destination is now more expensive.”
It came as Mr Johnson’s Brexit “war cabinet” met for the first time yesterday.
Michael Gove , in charge of no-deal planning, said ministers are “working on the assumption” of not getting a deal.
Fears grew that the Prime Minister had given up on a fresh Brexit deal when it emerged he had no plans to visit EU capitals this month.
Five days into his job he had still not called Irish PM Leo Varadkar - a crucial player in Brexit negotiations - or accepted invitations to meet Germany’s Angela Merkel or France’s Emmanual Macron.
Fears grew that the PM had given up on getting a fresh deal when it emerged he had no plans to visit EU capitals this month, with aides fearing the meetings would be presented on the continent as him being rebuffed.
She added that the PM would not sit down with EU leaders “to be told that the EU cannot possibly reopen the withdrawal agreement”.
Connor Campbell of SpreadEx said: “The pound had the fear of God put in it.”
Shadow Chancellor John McDonnell said: “Johnson and his ministers’ reckless threats of a no deal are hitting pockets.”
