Foreign Exchange
British pension payments abroad fall due to currency fluctuation
British pensioners living in Europe have potentially lost out on more than €4 billion of their income in the last two years due to the falling strength of Sterling.
M&S offers foreign currency refund for Sterling Airways customers
M&S Money is offering to refund in full foreign currency purchased from M&S by customers who had booked flights with Sterling Airways and are now unable to travel.
Travel boom ‘Down Under'
After weeks of financial turbulence, Australia has emerged as a surprise beneficiary of sterling's slump against the US dollar, according to Post Office Travel Services.
FOMC cut boosts equity markets and puts dollar under pressure
Following the decision by the FOMC to cut rates by 50 basis points to 1.00%, Marc Cogliatti, Currency Strategist at HiFX comments: "The decision to cut has helped equity markets continue their rally seen over the past couple of sessions signalling some risk appetite retuning to the market.
'Currency market tsunami' is not yet over
Last week saw Sterling fall against the Dollar by 22 cents - the equivalent to a whole year's average volatility in one week.
Currency markets lurch violently in wake of King's comments
Mervyn King's gloomy assessment of an economy "entering recession" prompted currency markets to sell Sterling on speculation that the Bank will cut interest rates in coming months putting future pressure on sterling.
Bottom dollar? No it's a bottom pound
With the pound tumbling to its lowest level in five years, moneysupermarket.com is warning holidaymakers that now, more than ever, they should be using the best credit and debit card overseas.
Brown bailout boosts sterling
Gordon Brown’s bank bailout plan has been given a vote of confidence by international currency traders and speculators as currency markets bolster Sterling while equity markets remain chaotic according to currency exchange specialists FC Exchange.
Hit the slopes without hitting your wallet
FairFX.com is offering members of the Ski Club of Great Britain the opportunity to apply for a free FairFX.com currency card - normally costing £9.95 for a three year membership. This offer can be applied for online via skiclub.co.uk.
Scots top of league table for holiday spending money
A survey of the foreign currency purchasing habits of Brits heading abroad has revealed that Scottish travellers exchange the most cash before setting off on holiday, meaning they get the best value on their travel money.
Sterling collapses to 5-year low against the US Dollar
Commenting on Sterling's increasing weakness against the US Dollar, Stephen Heath, Chief Executive at FairFX.com, said: "The US Dollar has continued putting pressure on the Pound, sinking Sterling to a five year low. This morning the Pound smashed through the $1.7 level and has traded down to 1.6775.
Currency markets experience unprecedented volatility
Currency markets reacted to the UK's announcement of bail out measures to help the banking sector and central banks' rate cuts yesterday with a volatility that many traders have never experienced before according to currency specialists FC Exchange.
Sterling sinks against the US Dollar and Euro
Commenting on Sterling's increasing weakness against the US Dollar and Euro, Stephen Heath, Chief Executive at FairFX.com, said: "It was an horrific start to the week for the British currency, as the pound sank further against the greenback on Monday alone than at any time in the past 15 years.
Post Office reports strong demand for currency
After a volatile week for the travel industry, which saw the collapse of the UK's third largest travel company XL and growing uncertainly in world economies, this week's currency sales for the Post Office reveal that there has been no sign yet of a downturn in demand.
Dollar forwards snapped up
Currency brokers FC Exchange experienced a brief surge in the numbers of people buying Dollar forwards demonstrating they expect the low created by the collapse of Lehman brothers’ bank to be short-lived.