By Alex Ellis

Sterling picked up slightly since Christmas and towards the New Year, and therefore it hit a ten day high against the US Dollar after having lost ground continuously over previous weeks. Against the Euro the pound remains fairly volatile with exchange rates moving upwards and downwards at very fast paces. Although the risk may seem greater when the market is as it currently is, in fact you can make much greater savings when conducting currency transfers as long as you conduct these during a spike in the exchange rates.

In order to take advantage of these spikes and ensure you maximise your savings be sure to contact an experienced currency broker who can help guide you through the process.

On Thursday the Bank of England will announce their interest rate decision at 12:00 (GMT), if they announce to keep the base rate at 0.5% then the general consensus is that there will be little movement across the currency market. Any difference to this will impact Sterling in some way and therefore it is worth keeping a close eye on the market during this period.