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By Alex Ellis

The GDP was released at 9:30 (GMT) today, this data confirms that the U.K. is still in a recession and therefore the value of GBP has been affected by this news. Sterling has shown rapid decreases in value across all currencies and this fall may continue till the end of today. Those who weren’t in contact with their account manager may now be regretting not buying at the peak of the spike.

 The markets seem very volatile at the moment making it all the more important that you keep in contact with your currency specialist.

By Alex Ellis

Sterling strength continued yesterday against all the major currencies; Euro and US Dollar, whilst also gaining strength when compared to the more exotic currencies. The cause of this was the release of the much anticipated Bank of England minutes, during which it was decided that Quantitative easing was not set to continue and that interest rates would remain at the same level.

No one is quite sure how long this rally for Sterling will last, thus there has never been a better time for individuals to use currency brokers and experts, who may help them save even more money when compared to their bank.

Further data to be released today that may have an effect on the currency market;

• the US jobless claims and house price index at 13:30 (GMT)

By Alex Ellis

The Bank of England’s meeting minutes are released at 09:30 (GMT) today, the potential impact of this may have on the pound has everyone holding their breath. During the course of last week an unofficial announcement via a blog from Paul Fisher which claimed that Quantitative Easing was successful, caused the sterling rate to spike dramatically. Therefore if this is confirmed in the minutes then what results may we see from Sterling?

By Alex Ellis

After a very promising start to sterling exchange rates during the morning, the currency market has gradually began to fall across the board. This drop seems to be continuing and towards the end of business tonight we may see considerable changes to the rates that we were seeing earlier this morning.

This just goes to show just how volatile the market can be at times and how important it is to keep up to date with markets and in constant contact with your broker.

By Tom Higham

The Pound started the day losing ground following news from Ernst & Yound Item club who stated that it is still to early to be talking about a recovery in the UK economy. The company stated that the UK would struggle to grow this year but would push towards 1% growth next year although they felt that any growth would be slow.

As a result the Pound fell this morning from the highs we witnessed last week. However, positive news from Right Move showing UK house prices improving steadily has led to some Sterling strength this afternoon as we head back towards the close of business levels seen on Friday.