Pound's flirtation with euro parity hits tourists

LONDON (AP) — British tourists going to continental Europe to celebrate the New Year were getting fewer euros for their pounds on Tuesday than at any time since the common European currency's 1999 launch.

The pound's relentless fall showed no sign of letting up and currency analysts said it was only a matter of time before the official exchange rate hits one pound per euro. Officially, a pound was still worth slightly more than a euro on Tuesday, hovering at a near-record low of euro1.0240 after sustaining falls of 13 percent against the euro this month alone. But many tourists changing their money to go on vacation were already getting less than a pound for each euro, as exchange booth rates are usually slightly lower than rates on financial markets.

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