Travellers 'could consider using prepaid cards as exchange rates fluctuate'
The pound is unlikely to gain too much ground against the US dollar or euro in the first few months of 2010, according to prepaid card provider Caxton FX.
Travellers 'could consider using prepaid cards as exchange rates fluctuate'”
This is in spite of problems faced in the eurozone, where concerns have been raised over the credit rating of countries such as Greece, Spain and Ireland, Caxton FX notes.
The pound's position will also be dictated in the New Year by Bank of England policy decisions.
Stimulus measures taken by the Bank have are due to expire by the end of February, but there has been no confirmation that these will not be extended in the New Year, senior analyst at Caxton FX Duncan Higgins notes.
Those looking to travel in the New Year may want start considering the best time to buy currency to lock into a desirable rate.
Rates can be fixed using a prepaid currency card, offered by companies such as Caxton FX, Fair FX and MyTravelCash.
These work in much the same way as a traditional debit or credit card, except they must be preloaded with money before they can be used.
This type of card often offers a more competitive exchange rate than those offered at airports or high street bureaux de change.
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