By Stephen Hughes

It has been predicted that the UK economy will shrink by 4.5% this year, well in excess of the official Government figure of 3.5% and a figure that would be the single biggest fall since 1945.

The risk of the current financial crisis deepening is still concerning for the UK economy and this has caused the Pound to lose ground recently against both the Euro and the Dollar.

Any further signs of economic doom and gloom could see these recent losses be quickly added to so it may be worth speaking to your currency broker early this week and seriously consider the benefits of a forward contract.