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By Leigh Smith

Sterling exchange rates have suffered accross the board once again so far this morning on the back of worse than expected Industrial Production figures being released. This has seen the Pound lose between 0.3 and 0.4% against the basket of major currencies, but a larger 0.8% against the Australian Dollar, due to the increased confidence in the Dollar following on from their interest rate hike from 3% to 3.25% in the early hours of this morning. With it being predicted that the UK may not see interest rate increases until well into 2010 this is a trend we could see continue.

By James Lovick

After some refreshing gains on the odd day this week the pound has drifted back down yet again. The currency is struggling to keep up the momentum even with more positive news such as the increase in house prices as reported by the Nationwide this morning. For anyone needing euros the market has dropped 0.5%. For anyone needing dollars the pound has dropped by a similar amount. Let’s see if the markets take some more defined direction next week!

By Colm Gilhooly

Revised US GDP data yesterday was a little less robust than some analysts had hoped although the Dollar did strengthen against Sterling as a result.  However, initial  jobless claims rose by more than 50,000 more than expected in the US which will make Friday’s non farm payrolls data all the more interesting.  If the expectations here have also underestimated the number of jobs lost outside the agricultural sector, then Friday afternoon could see some Dollar weakness.  So as you can see, US jobs data is key to the short term Cable exchange rates.