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Explained in plain English
When the pound falls against other currencies like the dollar or euro, it means your money buys less abroad. So, if you're planning a holiday to the US or Europe, things like hotels, meals, and souvenirs will feel a bit pricier. Your spending money won't stretch as far as it did when the pound was stronger.
Stories that explain this
Pound falls 0.2% against the dollar as markets wait for American inflation data