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By James Lovick

Mervyn King surprised us all yesterday when we discovered he was looking to print an additional £75 billion whilst the majority opted for just £50 billion. The pound dropped against every major currency. Sterling euro was particularly badly hit. For anyone needing to convert sterling into Swiss francs this also dropped and the exchange rates available were knocked.

At 09:30 UK retail sales are released and there is a host of US releases which could make for a lively day across the board.

By James Lovick

The pound is seeing some early losses this morning probably on the back of the positive news yesterday that both France and Germany have come out of recession. The market is also moving very quickly today and this is true against all the major currencies. Sterling euro has dropped almost 0.5% in the last half an hour! For anyone selling euros or any other currency there could be some opportune spikes in the market here and over the course of next week.

More bank losses this morning  from Japanese bank Nomura could also be contributing to the negative effect on the price of sterling.

Eurozone inflation figures are out at 09:30 which could give further direction. What will the European Central Bank do next with most of the Eurozone in recession and just two of the major players showing growth? Tough decisions – Could this spell trouble!

By Colm Gilhooly

German GDP figures released this morning showed an encouraging flicker of growth for the last quarter- up 0.3% against an expected downturn of 0.2%.  Whilst the figures for the year are still massively down for Europe’s biggest economy, the data has helped the Euro maintain its recent levels against Sterling.  With European GDP figures as a whole due out within the hour it will be interesting to see how the Single Currency fares against the pound following this.  Are these the signs of economic recovery for Europe, or is it a false dawn?

By James Lovick

It should be an interesting day with some major releases this morning. We have the Bank of England inflation report at 09:30 – Expect to see volatility for sterling euro exchange rates. If the report suggests inflation will fall significantly then we could see foreign exchange for currency become more expensive. The pound is likely to fall if the figures are low. We also see unemployment data released this morning which could weigh heavy for the pound and make currency transfers more expensive. Unemployment is widely forecast to reach 2.5 million.

By James Lovick

What a rollercoaster of a day! Sterling exchange rates dropped massively at 12.00 today after the Bank of England announced that it is increasing the size of its quantitative easing measures. Sterling euro rates fell immediately. Currency rates against the US dollar also dropped very quickly and we have lost well over 1% over the day. For anyone selling euros the market has move almost 1% in your favour today.

Tomorrow sees US Non Farm Payroll data. For anyone buying dollars or selling dollars then this release could be big!