www.currencyline.co.uk

By Tom Higham

Sterling suffered a poor days trading today as Mervyn King, the governor of the Bank of England stated that the UK faces a long road to recovery and said not to expect to see any sort of recovery until the end of 2011. King was very non-comital as he stated he couldn’t confirm that the central bank planned to end Quantatitive Easing programme. King also stated that the Bank would not be using interest rates to curb inflation even though he believed inflation was likely to rocket into the new year.

These very negative comments led to Sterling losing over one percent against most the major currencies as it fell across the board. This highlights just how quickly the markets can change and what a vast impact the exchange rates can have on your currency requirements. So, if you need to transfer money abroad complete our contact us section and an experienced currency broker will contact you to explain all the options open to you.

By Tom Holian

Sterling has seen small gains against the US Dollar this morning as the US celebrates Bank Holiday.

Later today we have unemployment figures out for the UK and the figure is expected to top 2.5 million, which could have a negative impact on Sterling exchange rates.

By Alex Ellis

The Currency Market showed us yesterday just how volatile it can be; During the early part of the morning Sterling rallied against all the major currencies on the back of data released over the weekend. However by the afternoon trading levels had dropped over 2 cents as Sterling experienced weakness. Some have attributed this weakness to the possible hostile takeover of Cadbury’s by the American food giant Kraft.

The markets remain especially volatile this morning with Sterling losing a cent against the Euro and similar levels against the dollar. In order to understand the potential implications that data releases may have on the market be sure to keep in contact with your Currency Broker.

By Alex Ellis

Since the early morning sterling has rallied against the two most major currencies, the Euro and the Dollar. This spike so far has meant that Sterling is at a three month high against the US Dollar and a six week high against the Euro. This is after strong European investors joined the market; on the back of the G20 and the US jobless data.

Spikes such as these are often short lived, so in order to take advantage of these extraordinary exchange rates, you must ensure you keep in contact with your currency broker.

By Tom Higham

In one of the most highly anticipated data releases of recent times the Bank of England decided to increase the Quantitative Easing (QE) policy by £25 billion pushing the total amount the central bank have pumped into the economy up to £200 billion. The aim of the QE is to stimulate the UK economy and help generate growth but many analysts are concerned that this huge amount of money is only going to increase the long term debt of the country.

Whether or not the added QE means the UK will be in debt for many years to come hampering long term growth it has led to Sterling gaining some ground in the currency market not only today but in the build up over the past week. The markets are likely to remain volatile following this decision and we will now need to assess further data releases to see whether the UK is coming out of recession anytime soon.

If you need to send money overseas then make sure you stay in touch with your currency broker who will keep you informed of market movement and the all the options open to you to help you get the best exchange rate.