Brits making foreign exchange transactions may welcome US stimulus package

Former UK citizens who are planning to exchange money in order to move to the US may find the country's latest plans to address its unemployment rate comforting.

Figures from the US department of labour recently revealed the number of people out of work has soared to 10.2 per cent, which is its highest level for 26 years.

However, president Barack Obama has released details of proposals that aim to strengthen the economy and encourage more people to make money transfers to US assets.

Mr Obama stated more money will be added to a $787 billion (£469 billion) stimulus package, with funds targeting infrastructure and the unemployed.

"My economic team is looking at ideas such as additional investments in our aging roads and bridges, [and] incentives to encourage families and businesses to make buildings more energy-efficient," he said.

In other news, research by Sibson Consulting recently revealed many US companies plan to maintain or increase the number of expats they employ.

Click here to find out how much you can save with HiFX's Foreign Exchange services.

By John Mills