Holidaymakers get some good news as pound hits high against Euro

There’s some good news for holidaymakers as the pound today rose to its highest level against the Euro this year – could be time to get you travel money.

The pound is also stronger against the US dollar.

The rise in the pound is being seen as a result of some good economic news for a change.

According to the National Institute of Economic and Social Research the economy actually grew in April and May. It only needs this to be seen again in June and the UK would then be deemed to be emerging from the recession.

Also, the pound was hit last week over the challenges on the Prime Minister, Gordon Brown, but things have now settled down taking pressure off the pound.

Housing construction orders for April released today also showed that total orders rose for the second month in a row which shows tentative signs of the economy improving, or at least over the worst.

With the pound in a strong position against the Euro and the US Dollar, if you are travelling abroad and need to get some Euro or US dollar travel money, it might be worth considering getting a currency card now.

With a currency card you effectively purchase your travel money and load it onto the card. In this way you fix the exchange rate at the time you load the money so it means you can benefit from a good exchange rate.

It also means as the exchange rate is fixed you will know what everything costs you when using it on holiday.

Using currency cards for travel money is becoming increasingly popular. MoneyHighStreet recently did a review on them to consider whether they are the best option for travel money, which you might find useful.

They are offered now by more and more porviders, including Lloyds TSB, Travelex and FairFX.

MoneyHighStreet currently has a special reader offer with FairFX

You can get a FREE FairFX currency card here – just sign up and load €10 and get the card free – it usually costs £9.95.