Foreign Exchange

Post Office Overseas Property Money Transfer service

Transferring money between UK and overseas bank accounts is set to become significantly easier following the launch of the new Post Office Overseas Property Money Transfer service.

Holidaymakers missing out on travel money savings

A survey currently being conducted by MoneySavingExpert.com has found that 18 per cent of couples expect a week's holiday abroad will cost them from £402 to £1002.

Sterling rises to 10 month high against dollar

Sterling rose sharply against the US Dollar today, as stronger equities and oil prices boosted market sentiment and enhanced investor appetite for riskier assets.

Sterling firms despite latest growth figures

The pound has recovered from its initial negative reaction to the release of another alarming set of GDP figures at the end of last week where the UK economy fell at a rate of 0.8% in the second quarter, far worse than consensus.

Second-quarter GDP figures dent optimism for pound

The pound fell on Friday against both the dollar and the euro after the first snapshot of the UK's output in the second quarter showed a far less resilient economy than the market had hoped or expected.

Top emigration destinations hit by extreme currency volatility

Extreme volatility amongst some of the top destination countries for British emigres, but more positive news for holiday makers bound for Europe, as Sterling holds steady against the Euro, according to the latest HiFX Global Currency Moves Report.

Currency dumping at the airport falls dramatically

The amount that British holidaymakers spent in airport departure lounges in the last 12 months has fallen to £378 million, down from £1 billion in September 2007, new research by Santander Cards has revealed.

Sterling could go further against dollar

Sterling is set for further gains against the dollar in the third quarter, according to Caxton FX, the leading foreign exchange broker, and could touch $1.70 in the late summer or early autumn.

Caxton FX abolishes all ATM Fees from July 10

Caxton FX has announced that it is abolishing ATM fees on all its prepaid currency cards from the end of next week.

Political tension dents pound’s rise ahead of quarter end

The pound fell at the end of the week against both the pound and the euro after the lack of trust between the Bank of England and the government was blown open by the testimony of Bank of England Governor, Mervyn King, to the Treasury Select Committee on Wednesday but the real test for sterling comes next week.

Poor exchange rate maths costs travellers £288 million

More than a third of UK adults (38 per cent) are unable to convert popular currencies into sterling and are losing out on a staggering £288 million a year on holiday as a result.

Repatriating funds increases as expat exodus continues

The last year has seen an exodus of expats leaving their Eurozone homes to return to the UK – but since January 2009, currency broker FC Exchange has seen a massive 60 percent increase on the previous six months of clients repatriating their funds from selling their property abroad.