By Alex Ellis

The Centre for Economics and Business Research recently predicted that the U.K. could drop as low as 11th 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.