Expats making money transfers to foreign-based loans may find the latest foreign exchange trading figures have a positive impact on their bank accounts.

The pound yesterday rose to its highest level this month against the euro and the dollar, meaning Brits living in the US and on the continent are likely to see their money go further.

Finance resource Investment International claimed that sterling strengthened following a speech by Bank of England governor Mervyn King.

Mr King was addressing Scotland's business experts when he stated his belief that the UK economy is set to grow

"It is likely that in the second half of this year, the UK economy will return to positive, if modest, growth," he said.

However, the governor added that the recovery is likely to "remain volatile" during the next 12 months.

In other news, property portal TheMoveChannel.com recently stated that an increasing number of Brits are searching for investments in the US, as the country offers more affordable dwellings than those located in France or Spain.

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By John Mills