British holidaymakers will get more bang for their buck in Europe – as political turmoil on continent sends the Euro tumbling

British holidaymakers will get more value for their money on the continent this summer as political unrest in Europe sends the common currency tumbling.

This is an incentive for millions of families planning trips abroad and for football fans heading to the European Championships in GermanyThe pound rose above €1.19 yesterday for the first time since August 2022.

The last rally came as Emmanuel Macron‘s shocking decision to call early elections France continued to reverberate across global currency markets.

One City analyst said the move had put investors ‘on edge’, while another warned of ‘a bloodbath in the euro’.

A British tourist who exchanges £500 for €1.19 would get €595, up from the €575 he would have gotten a year ago and €530 in early 2020 thereafter COVID-19 beaten.

In a boost for football fans heading into the European Championships in Germany, the pound yesterday rose above €1.19 for the first time since August 2022. Pictured: England fans at the UEFA 2020 Championship

The latest rally came as Emmanuel Macron’s shock decision to call early elections in France continued to reverberate across global currency markets.

A £5 beer now costs £4.20, up from £4.35 a year ago, while a £75 family meal would cost £63 instead of £65.

Foreign exchange experts at the Post Office said that ‘rising sterling rates mean holidaymakers can expect better value for money at most holiday destinations this year’.

Head of travel at the Post Office Laura Plunkett said: ‘Sterling’s current buoyancy is a big boost for Britons considering travel abroad in the coming months.’

Meanwhile, Mark Dowding of BlueBay Asset Management said the snap election had caused a “euro carnage” and made the currency look riskier.

Analysts say rising rates for the British pound mean holidaymakers can look forward to ‘getting more for their money in most holiday destinations this year’