'Foreign exchange may benefit from stronger pound'

Investors making an international money transfer abroad will eventually benefit from a stronger pound, an industry expert indicates.

Despite the recession, UK consumers may still expect to see their money go further when making money online money transfers, the Telegraph reports.

Steve Barrow, currency strategist at Standard Bank, explained that the economies of other countries are likely to suffer further, while the UK may recover faster, which can put British investors in a stronger position.

"One thing to bear in mind about the UK is that it is towards the forefront of the credit crisis and its policies have often been followed by other governments," he told the paper.

"What we saw in the UK this week will, in the future, probably be coming to other major countries."

A G7 official recently stated that foreign exchange was not one of the main issues earmarked for discussion during a forthcoming meeting of industrialised nations.

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By Linsey Summers