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By James Lovick

Last week was a shocker for the pound against all the major currencies and the trend has continued as we have come into this week. This is particularly true for anyone needing to send euros. The focus is on the UK’s soaring national debt and questions are being asked as to how the UK will be able to service it. As such sterling has suffered against nearly all the major currencies as we possibly head towards the parity figures seen very early this year for sterling euro. A few weeks ago anyone needing a currency transfer overseas was in a much better position, now with the tabloids pointing to even weaker levels for the pound the engines could be at work driving the pound lower and quickly.

By Colm Gilhooly

Sterling is at a 4 month low against the Euro and has lost a huge amount of ground against all major currencies following Mervyn Kings recent comments refusing to rule out out further Quantitative Easing (“printing money”) as a means of getting the UK economy out of recession. He also mentioned he may cut the rate of interest paid on deposits the UK banks have with the Bank of England to force them to move the money elsewhere to get better returns and as a result stimulate credit conditions. With levels of national debt now at gargantuan proportions it seems difficult to see any support for Sterling in the short term so a lot of focus will move towards the upcoming B of E minutes to see if further Q E is indeed on the cards, or whether the recent fears for the Pound have been overstated. As such Wednesday could be a very important day until the next rate meeting in October.

By James Lovick

What a horrible week for the pound! Sterling exchange rates have dropped significantly particularly against the Euro coming down a good few percent. The mood appears to have changed in the UK with little foreign investment coming in and the focus being placed on rising unemployment and the slow pace of recovery. Even retail sales are starting to slide as we saw yesterday and these factors probably explain why the price of sterling has fallen. Let’s hope for some better news next week?

By James Lovick

The pound has started the morning badly this morning probably in anticipation of the 12 o’clock meeting for the Bank of England. Sterling euro is down 0.3% and it is a similar story against all of the major currencies. For anyone needing Australian dollars or New Zealand dollars the rates of exchange against these currencies are very poor at the moment.

More QE today could be bad news for the pound. However if the MPC sit tight there is every chance we could see a small rebound for sterling taking into account the hefty losses we have seen in recent weeks.

By Stephen Hughes

Sterling continued it’s bad run against a whole host of major currencies again yesterday as anticipation and rumours start to build prior to Thursday’s Bank of England interest rate decision.

The Bank of England’s minutes from the August meeting suggested that a couple of MPC (Monetary Policy Committee) members would be in favour of increasing the volume of quantitative easing by a further £25 billion and this number may have increased following weekend announcement from the BCC (British Chamber of Commerce) that the UK economy although showing signs of recovery has a grim outlook with a significant chance of relapse.

Should they choose to pump more money into the economy I think it would be a significant blow to Sterling’s fragile state at a time when other economies cush as France, Germany and Australia are announcing that they are alreasy coming out of their own recessions.

This could well lead to further Sterling weakness, so if you have upcoming currency transactions it may be prudent to consider your options sooner rather than later, as although many major analysts believe that Sterling is currently und