BRITISH holidaymakers should brace themselves for more Brexit pain when they change their pounds into euros, with Morgan Stanley forecasting the currencies are on the way to parity.
The pound is currently trading at €1.09 after collapsing from €1.31 the day before Britain voted to quit the European Union in June last year.
Now the US investment banking giant believes the British currency has further to fall and is pencilling in pound-euro parity in the first quarter of 2018, when £1.02 will buy just €1.
It would signal the first time in its 18-year history the euro has reached parity with sterling.
Piling on the misery, Morgan Stanley described Britain’s economic prospects as “bleak” as it heads for what appears to be a calamitous exit from the EU, with Tory ministers unable to provide clarity on their vision for life outside the bloc.
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