Sterling falls to €1.0229 to £1

Commenting on the Pound falling to just €1.0229 to £1, Stephen Heath, Chief executive of FairFX.com, said: "It looks as if Sterling is the biggest sale item in town after falling to just €1.0229 to £1, an all time low for the beleaguered currency. As we creep closer than ever to parity with the Euro it looks as if Brits looking forward to cheap European skiing trips in the New Year will have to think carefully about how far their Pounds will stretch in 2009.

"It is harder than ever for Brits to get a good bang for their buck as the Pound continues to weaken. There are now only a handful of providers offering customers above parity when they buy Euros, of which FairFX.com is leading the pack by offering €1.01 to £1.

"Anyone who is planning to buy Euros in the near future should consider buying at least half their foreign money now before rates get even worse, and buy the rest later just in case Sterling regains some strength."