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.