Hi, I have seen a few comments on here about HRT and breathlessness. I started Estradiol gel and progesterone 3 months ago and Vagifem reduced now to twice weekly. During this time I have experienced breathlessness on physical exertion - particularly uphill walking and swimming. I have spoken to my GP about it. My lungs sound clear with her stethoscope so she is sending me for an x-ray. Does anyone else have exertion breathlessness since starting either Vagifem or gel HRT? I am 55 years old and quite active and fit otherwise.