Today was not a good day to go on holiday to a eurozone country.
The UK currency fell as much as 2% against the euro today, its biggest daily loss since 2009 according to Reuters. The pound has fallen to its lowest point against the euro since May, currently hovering around the 1.351 mark.
Here’s the chart:
People are speculating that the long-awaited interest rate hike from the Bank of England may be postponed because of the market turmoil, which has been triggered by China’s collapsing shares.
Unless you’ve just this minute woken up, you’ve probably seen the carnage in the markets today.
The FTSE 100 share index is tanking close to -5%, but off its lows: