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Foreign Exchange

Sterling jumps as economy picks up pace

Sterling made broad gains across the board Wednesday morning following the release of much better than expected service sector data for June, spurring hopes that the economy may finally be starting to recover.

British pensioners lose £10.6 billion by living abroad

British pensioners living overseas have potentially lost out on over £10.6 billion of their income since 2007 due to the falling strength of sterling, according to HiFX, the foreign exchange specialists.

Double your money with a trip to Moscow

Double your money with a trip to Moscow

Russia is proving one of this year’s must-see destinations according to Post Office Travel Money. The UK foreign exchange provider has registered a 55 per cent growth in Russian ruble sales this year compared with the same period in 2012 – making the Russian ruble one of its top five fastest growing currencies.

Travelex launches Multi-currency prepaid card

Travelex has launched a new prepaid travel money card that can carry up to seven currencies at any one time.

Brits are sitting on £2.1bn of forgotten holiday money

Britons are sitting on billions of pounds-worth of left over holiday currency, according to a new report from Debenhams Personal Finance.

Euro suffers after eurozone recession continues into 2013

The euro fell across the board Wednesday morning after the release of economic growth figures showed that the eurozone economy remained in recession for a record sixth consecutive quarter.

£5.99 wasted on every ATM withdrawal in travel hotspots

British travellers are wasting an average of £5.99 on charges imposed by some debit card providers every time they make an ATM withdrawal in the most popular foreign destinations.

Sterling surges as GDP growth figures smash expectations

Sterling gained around one per cent against the Dollar and the Euro following the release of the eagerly awaited first quarter growth figures Thursday morning.

Holidaymakers choosing the Algarve or Costas will be quids in

Despite the pounding taken by sterling this year against the euro, holidaymakers planning trips to a European hotspot may find their holiday cash stretches further than expected because prices have plummeted in many popular resorts.

Holidays take a pounding for one in five as sterling slides

Nearly one in five (19%) would be holiday-makers have given up on a foreign holiday this year due to the continuing weakness of the pound, according to findings from independent market research firm Consumer Intelligence.

Budapest is best bet for pound-stretching city break as sterling slides

Budapest is best bet for pound-stretching city break as sterling slides

Low prices and sterling’s stability against the forint have helped Budapest power past Riga and Prague to take the top spot in Post Office Travel Money’s annual City Costs Barometer.

Sterling gains as Bank’s minutes highlight currency impact of monetary policy

The Pound gained across the board on Wednesday morning following the release of the minutes of the Bank of England's meeting this month which showed that the vote on additional quantitative easing remained three members against six.

Don't get hit twice by poor currency rates

As holidaymakers in search of winter sun face the double-whammy of a weak pound and rising hotel room rates in long-haul destinations such as the Middle East and Asia, Doug Gowan, Head of Travel Money at Tesco Bank offers the following advice when purchasing foreign currency:

Sterling set for a resurgence as attention shifts elsewhere

Since the very beginning of 2013 the British Pound has found itself under relentless pressure as concerns about the state of UK Plc pervaded global financial markets.

The hidden expense of owning overseas property?

The hidden expense of owning overseas property?

Mounting pressure on UK high street banks to be more transparent about the costs of add-on products, fuelled by the mis-selling of Payment Protection Insurance, could lead to an overhaul of banks’ fee structures and the introduction of charges just for holding an account with them – an unwelcome concept, but one that people experience every day when they move or buy property abroad.