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By Alex Ellis

The U.K. Gross Domestic Product data was released at 09:30 (GMT) today this data came out much worse than expected and therefore this has forced Sterling Exchange Rates to drop, for those looking to purchase Sterling then this is extremely positive news as it has driven the exchange rates downwards. This will mean that purchasing Euros will be much more expensive than it was previously, in order to make sure you maximise your savings when the market is this volatile it is important to stay in close contact with an experienced currency broker.

The US dollar has seen serious strength today even though the GDP data released in the U.S. today was much worse than expected, usually this would be a positive for Sterling. However as Sterling GDP data showed the U.K. was still in a recession this has seriously affected currency market trading levels.

The market seems very unstable at the moment and this will seriously impact any currency transfer you may have, in order to maximise your savings and minimise your risk when conducting a currency transfer be sure to contact an experienced currency broker.

By Alex Ellis

Today’s currency market sees the pound continue to rise as levels push the highest we have seen for over a month. This is as good a time as any to purchase some Euros, and as this current spike has lasted for a few days now, the general consensus is that it will reach a peak and then fall back down to the levels we have come to expect.  In order to take advantage of these positive exchange rates, be sure to contact a currency specialist who can guide you through the process.

Meanwhile the Dollar has lost strength as levels have fallen back down to levels experienced over the majority of last week. This is on the back of the news that the U.S. has decided to hold interest rates at 0.25% as well as reiterating that they plan to keep them low for an extended period. This is seen as a negative for the US economy as it means that investors will look elsewhere.

By Alex Ellis

The Centre for Economics and Business Research recently predicted that the U.K. could drop as low as 11^th in the World Economies Table in the next few years; this would be seen as the pound both losing value and losing confidence. Predictions such as this show how close we are to parity and if something drastic is not done we could see the end of the pound.

Although yesterday saw Sterling strength as the UK Consumer Price Index showed an increase, reportedly down to rising energy bills and inflation was shown to be on the increase up from 1.5% to 1.9% which was attributed to rising fuel prices by the Office of National Statistics.

Meanwhile in other currencies the USD strengthened meaning that buying dollars when sending money abroad became more expensive. The reason for this strength can be attributed to better than expected data releases regarding the Producer Price Index and Industry Production.

AS we approach both Christmas and the end of the year there will be more and more impacting data releases, these will have significant affects on exchange rates and therefore it is important to contact an experienced currency broker who will be on hand to watch the currency market for you.

By Alex Ellis

This morning has seen Sterling rally against the major currencies on the back of the Royal Institute of Chartered Surveyors claiming that the net balance of surveyors reporting house prices increasing had risen to 35% up from 34% from the previous month. This has caused Sterling Exchange rates to rise and we are seeing the highest GBP/ EUR exchange rates for at least a month, for those looking to buy Euros this is extremely positive news.

This spike could be short lived however as at 9:30 (GMT) today the Office of National Statistics will release the Consumer Price Index data, the CPI is seen as a key method of measuring inflation and changes in purchasing trends and in turn this is seen as showing the true state of the economy.

If you want to take advantage of these extraordinary exchange rates then contact a currency broker who will be able to assist you with your currency requirements when sending money overseas.

By Alex Ellis

At 12:00 (GMT) the Rightmove House price data was released, this is seen as showing the general strength of the U.K. housing market, and this relates to the overall economy as house prices correlate to the state of the economy. This data was much worse than expected and has caused Sterling to lose ground against all of the major currencies this morning; the data showed that house prices has fallen 2.2% in December but were 1.7% higher on the year. From this data release we can see that the economy remains fragile and therefore will have an impacting effect on exchange rates, in order to avoid losing money when buying Foreign Currency, be sure to contact an experienced currency broker who can guide you through the process.

For those looking to purchase AUD it may be worth keeping a watchful eye on the currency market today, as tomorrow sees the Reserve bank of Australia release the minutes from their committee meeting two weeks ago. Their past three meetings have seen them announce interest rate rises, so it is possible that this latest committee meeting will see the announcement of a fourth interest rate rise. This will be seen as a positive for those looking to sell Australian Dollars but for those looking to purchase AUD this will have a significant effect on exchange rates as it will cause Sterling to weaken.