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Falling pound 'proves a challenge for expatriates'

The falling value of sterling against local currencies is making life a little more difficult for expatriates, says new research.

How much expatriates have been affected by the pound’s changing fortunes has been documented in research by currency broker Foreign Currency Direct.

According to the firm, the least affected country has been Canada, where the cost of living increased by three per cent in the last six months.

The assessment found more good news for expatriates who relocated to the country – currency fluctuations have led to apparent house price rises of £5,999, compared to £32,303 in the US.

There could be interest in the Bank of England’s monetary policy committee when it sits to decide on the UK interest rate.

Howard Archer, chief economist at Global Insight, said it seems a "stone dead certainty" that the government will leave rates unchanged at 0.5 per cent.

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