Pound hits high against US Dollar
The pound hit its highest level against the dollar for more than a quarter of a century today (April 18, 2007), crashing through $2 barrier after UK inflation rose to 3.1% in March. The rise is the strongest since June 1981, when it hit $2.013.
While this is bad news for UK homeowners as it seems likely to trigger another interest rate rise in May, investors looking to buy property in Florida or other areas of the United States will benefit from the better exchange rates. It will also be good news for owners of holiday homes in Orlando as a weaker dollar will attract more British and European tourists to the region.
Florida properties are already competitively priced, with a typical 4 bedroom holiday home with swimming pool in Orlando costing around $300,000, which is now just £150,000.
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