GBP/USD Exchange Rate Offers Opportunity for British Holidaymakers

For British holidaymakers heading to New York, Florida, Las Vegas, California, or elsewhere in the United States, now may be a good time to buy some US Dollars. The live Pound-to-Dollar exchange rate is currently trading around 1.3333 at interbank level, with each Pound worth roughly $1.33 before a travel-money provider's margin is applied.

At this rate, £750 is equivalent to almost exactly $1,000. While the best rate in our latest comparison was 1.3213 from TravelFX, which returned $990.98 for a £750 order, even at interbank level, buying some Dollars now could be beneficial for travellers.

The Pound has recovered from its late-June low and remains around 1% stronger against the Dollar than it was a month ago. However, our near-term GBP/USD forecast suggests that Sterling may drift slightly lower against the Dollar before the end of September, making now a good time to buy at least some Dollars.

Our forecast indicates that for travellers departing within the next three months, buying at least part of their required currency now is recommended. This approach removes the risk of being forced to buy everything after an unfavourable market move and still leaves room to benefit if the Pound strengthens again.