British Pound vs. US Dollar Since 2014

The British Pound hit a two-year low against the US Dollar last week. The pound has been on a downward spiral since 2014 as shown in the chart below. Currently the exchange rate is 1.23$ to a pound at the interbank rate.

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Source: MoneyWeek

When pound was stronger a few years ago, many British used to visit New York for weekend shopping as consumer goods are cheaper in the US and a pound went farther in the US. Similarly Florida was another top destination for British tourists at that time since it was much cheaper to visit there. The decline in the pound value has altered these scenarios.

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