US dollar pain is the British pound's gain

Whilst the current dollar-pound exchange rate may be good news for Brits bringing cheap ipods back from New York, any American travelling to Europe is set for a battering - as Martin Denholm explains.

I just returned from a trip back home to England and my wallet has come staggering back with me, battered and bruised, after spending a week in the financial equivalent of one of those English rugby scrums, thanks to the strong British pound. Boy, what a beating!

For example, think U.S. gas prices are bad? (And with the national average price per gallon having just a hit a record $3.10, I wouldn't blame you). Consider this: Just a week ago, I pulled off the rain-soaked M6 motorway in my car to fill up. I had one-quarter of the tank left when I started. But by the time the beast was full, the price totaled £45. That's about $90!

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