Euro against the dollar is also down a good chunk for the past few months. The currency traders are uncomfortable with the Brexit fall-out impact on mainland Europe too.
I remember 25p or, more accurately, 5/- being called a dollar in my youth. When I asked my Dad why, he said that it was because at one time, you got four dollars to the pound. I Googled and it was indeed set at 4.03 dollars to the pound at the end of the war. http://www.telegraph.co.uk/money/sp...0-year-journey-of-the-pound-against-the-doll/
"British tourists offered 88 euro cents for £1 in Europe, one year on from Brexit vote
UK holidaymakers face worst euro exchange rate ever seen as they leave for summer getaways"
"British holidaymakers travelling to Europe face one of the worst exchange rates on record this weekend, with the pound falling to less than €1 in some places a year on from the Brexit vote.
As families prepare to travel to the continent on the first day of the school holidays, people flying out of British airports have been offered as little as 88 cents for a pound.
Gatwick, Luton and Birmingham airports were all offering less than €1 to the pound – the worst rate in eight months – while Cardiff airport exchanged just 88 cents.
Experts said that was possibly the worst euro exchange rate ever seen at any UK airport – traditionally the most expensive places to buy foreign currency."