Foreign Exchange
Holidaymakers brace themselves for expensive trips abroad
Despite the pound showing recent signs of recovery, British holidaymakers are still bracing themselves for more expensive trips abroad this year as a result of the fall in the value of the pound compared with 12 months ago.
Fixing exchange rate maybe only way to avoid volatility trap
A seven month high in Sterling/Dollar and a five month high in the Sterling/Euro exchange rates may have offered short term good news for British holiday makers, but the currency markets continue to be extremely volatile according to the HiFX Global Currency Moves Report for May.
Make your gap year wonga last for longer
Gap year travellers could be wasting up to €300 or $400 unknowingly by having the wrong foreign spending habits. A better choice of travel money could give their budget some much-needed extra stretch.
Volatile foreign currency markets present opportunities
Every business with overseas exposure needs to take a proactive approach to its foreign currency management if it is to protect its profits in wildly unstable markets, according to Caxton FX, the leading foreign currency broker. In the process there are also opportunities for gains.
New hope for British expats in the USA as Pound strengthens
Changes in foreign exchange rates are bringing good news for those considering a move across the Atlantic. The changing value of the US Dollar is significantly reducing the cost of moving to the US with the Pound rising above US$1.60 last week, an increase from US$1.43 in April this year.
Banks impose increases on overseas money transfer charges
The cost of sending money overseas is soaring as banks impose huge increases in the fixed transfer fees they levy on each transaction, making the charges as high as 40% on small sums, according to leading foreign exchange broker, Caxton FX.
Money saving tips for Lions fans heading to South Africa
Rugby fans following the British Lions on their tour of South Africa will find that their money goes a lot further than in the UK, according to travel money expert M&S Money.
Sterling shows its vulnerable side amid political uncertainty
Sterling held steady after the Bank of England conformed to market expectations and announced their decision to keep interest rates unchanged at 0.5% this lunchtime.
Travellers could save money using a pre-paid currency card
Despite the credit crunch putting a squeeze on everyone's wallets new research from FairFX.com reveals British holiday makers still aren't spending prudently abroad.
Man U fans urged not to score a currency own goal
As thousands of Manchester United fans prepare to descend on Rome for the Champions League final, leading travel money provider M&S Money is offering supporters tips on how to make the most of their money in the Italian capital.
Better news for holidaymakers as sterling holds its ground
Holidaymakers heading to the US who timed their currency exchange right last month will have been delighted with an exchange rate of over 1.50 for the first time since January, according to the HiFX Global Currency Moves Report for April.
Brits set to pay out millions in unnecessary foreign exchange fees
Britons holidaying abroad this summer are on course to pay out more than £73 million pounds in unnecessary foreign exchange fees, new research by Abbey Credit Cards has revealed.
Tesco travel money tips
Tesco Travel Money is also offering consumers tips on how to keep on top of their holiday spending:
Sterling hits a 5 month high against dollar
As Sterling advanced to a five month high against the Dollar this morning (GBP/USD 1.5533) currency strategist, Marc Cogliatti from HiFX explains the implications: "The news of a stronger Pound will help ease some of the tensions felt by UK importers, however we would suggest that all companies should be wary of getting too carried away.
Shopping around for travel money makes good cents
People looking to get a good deal despite the weak pound could make considerable savings by buying foreign currency from city-centre bureaux de change or online, rather than from the airport, travel agents and banks, says Which? Money.