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By Alex Ellis

What an amazing end to the week for Sterling across all the currencies, with the steady growth seeming to continue this morning. This seems to be as a direct result of the Bank of England’s Quantitative Easing policy and shows how much new data can affect the market. As a results these positive exchange rates seem to show that confidence in Sterling is beginning to rise. The Dollar meanwhile still seems to be affected by the recession as investors look elsewhere to invest as do suppliers. The backlash of this could mean that over time other currencies strengthen against the Dollar.

The currency markets are not only confusing but can be very volatile at times, this makes buying currency at the right times all the more important. To maximise the amount of currency you receive when conducting a foreign currency exchange be sure to contact your broker periodically.

By Tom Higham

The Pound has had a good day in the currency markets today with gains of over two and a half cents against the US Dollar, two cents against both the New Zealand and Australian Dollar and over one and a half cents against the Euro. The Pound strengthened today on news that the Bank of England may not extend the Quantitative Easing programme and as a result showed the biggest one day gains against a basket of currencies . This has resulted in some very good buying opportunities if you are selling Sterling.

By Alex Ellis

Sterling exchange rates have shown resilience overnight as figures were announced regarding the slowing of unemployment rates in the U.K. The gains have been much more substantial than we have seen recently, with an increase of 1.89% when comparing Sterling to Euro, a ten day high. The market high today has been 1.0906 this is the highest it has been for several weeks and a serious spike in the exchange rates, of course this spike means that it could be a good day to sell pounds.

Sterling is showing strength across the market so it is worth contacting your currency provider in order to get some indication of what rates you can achieve today.

By Michael Vaughan

Sterling was to see some unexpected gains in this morning’s session following better than expected unemployment figures. Official figures showed fewer than expected Britons claimed unemployment benefit, the jobless rate surprisingly held steady and average earnings growth was not as weak as anticipated.  However, heading into the afternoon session much of these gains were wiped out as speculation rose about possible extensions of the Governments stimulus plan through the use of Quantitative Easing. This was again to highlight the importance of being in a position to act on spikes as in the current climate they will often be very short lived.

By Michael Vaughan

Sterling had a poor day against a host of currencies after an unexpected fall in UK manufacturing output. The data released this morning was worse than expected and has raised doubts over the recovery of the UK economy. Sterling is currently experiencing a very poor run with many analysts suggesting the current trend may well continue. For anyone buying foreign currency with sterling contact Foreign Currency Direct to utilise one of the many contracts at our disposal to safeguard your rate of exchange.