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NiKKoM said:
Hasn't the pound been extremly weak this year?

Yes, but the benefit of and the beauty of Microsoft Points was the fact that gamers were protected from Exchange Rate hits.  If you bought £50 worth of Microsoft Points when the the GBP was strong, then you could get Microsoft Points cheaper.  The content stayed the same price, the only place you saw the effect of exchange rates is at retail.

Not to mention, again Microsoft takes a hit for every credit card transaction made.  So they're going to increase prices to cover that cost as well.