Bonanza for Europe-bound Britons as single currency hits a post-crash low

Currency traders brace for single currency to fall below parity against dollar as slowing Chinese economy and prospect of higher US rates buoy greenback

The prospect of cheaper holidays in continental Europe this summer for British and American tourists has become closer after the euro tumbled on the foreign exchanges.

Amid fears of a rekindling of Greece's debt crisis, the pound climbed above a1.40 against the euro for the first time since the onset of the global financial crisis in 2007. Against the dollar, the single currency was at its lowest level for 12 years.

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