Yesterday's decision to cut interest rates to a record low of one per cent will not have a negative impact on sterling, it has been claimed.
Marc Cogliatti, a specialist at foreign exchange firm HiFX, said that sterling has now risen by 12 per cent against the euro since the start of the year.
In news that will no doubt be welcomed by those planning holidays in Spain, Mr Cogliatti predicts that the value of the pound will continue to rise in the long-term.
"The pound is still looking oversold and undervalued so we anticipate that the current correction will continue further before it runs out of steam.
An increasing number of Brits are choosing all-inclusive holidays in a bid to save money, it has been revealed.
Figures from Ascent-MI's Leisure Travel Monitor show that more than a quarter of bookings made during the month of January were for all-inclusive breaks.
Research also found that people are finding better deals online and over the phone than in high-street travel agent shops, Travel Weekly reports.
Furthermore, figures suggest that although Brits are shopping around for better deals, many people are not trading down, with sales of holidays between £1,000 and £1,599 showing an increase.
Those looking for the perfect mix of romance and fun this Valentine's Day may wish to consider a relaxing break at La Manga Club in Spain.
Within close proximity to Murcia and Alicante airport, La Manga is the ideal romantic retreat and with several quality restaurants, a luxury spa and wide range of leisure activities, holidaymakers will be spoilt for choice on how to spend their romantic day.
The resort is hosting a number of special activities, including the Be My Valentine Tennis Weekend, which takes place from February 13th to February 15th.
Holidaymakers attending the special event can expect tennis lessons, social events, an ice-breaker session and an optional Valentine's dinner.
British holidaymakers are getting savvier when it comes to holiday spending, it has been suggested.
Cordy Griffiths, PR manager at hotels.com, said that with the credit crunch to contend with, holidaymakers are looking for better value than in the past.
"Our research has shown that British people are getting more and more savvy and are trying to haggle for the best deal they possibly can," he commented.
With Valentine's Day almost upon us, those who have yet to buy their loved one a present may with to consider a romantic holiday in Spain.
According to the Association of British Travel Agents (Abta), the credit crunch has not dampened the desire for romantic getaways.
Spokesperson Casia Zajac commented: "Romantic breaks are the one time when everything has to be right. Booking a package, which can include breakfasts, taxes and service not only look like good value, but provide financial protection and added extras which really make a break away special.
Brits are continuing to book holidays to Spain and other popular destinations, despite the downturn.
Speaking to the Telegraph, TUI Travel owner of Thomson and First Choice said the same number of people are booking holidays this year as in 2008.
A recent study by the firm revealed that 87 per cent of holidaymakers intend to travel again this year.
Meanwhile, Andy Freeth of Global Travel Group, which operates around 700 agencies across the UK, told the newspaper that bookings were looking strong.
British holidaymakers save an estimated £1.7 billion annually by haggling, it has emerged.
Research carried out by hotels.com revealed that 75 per cent of bargain-hungry Brits have brokered a cheap deal on a holiday in the past.
Tennis fans taking holidays to Spain this year will be in their element, with Benidorm set to host the preliminary rounds of the Davis Cup next month.
Tickets for matches between Spain and Siberia from March 6th to March 8th will go on sale tomorrow, with seats costing between 90 and 350 euros, Benidorm Spotlight reports.
A temporary stadium is currently being constructed in the car park of the resort's Terra Mitica attraction.
The structure will hold up to 16,500 spectators, although plans are reportedly in place to increase capacity if demand for tickets is high.
An increasing number of British holidaymakers are opting to travel to the country's airports by rail, it has emerged.
Figures by Holiday Extras show that travellers are cutting costs by saving on taxis and airport parking.
The company took 11,751 in 2008, compared to 9,882 the previous year.
Anthony Clarke Cowell of Holiday Extras commented: "More and more British travellers are choosing rail over road to get to the airport.
Budget airline Ryanair has been criticised for imposing a rule meaning that passengers can only carry one item of hand-luggage.
ACI Europe, an organisation representing over 440 airports, said the rule is impacting on passengers' ability to buy duty-free goods on flights to Spain and other destinations.
Commenting on the situation, Olivier Jankovec, the organisation's director general, said airports and airlines must work together to succeed in the current economic climate.
"This is an unfortunately short-sighted stance on the part of Ryanair.