By Alex Ellis

Sterling experienced a New Year tumble yesterday as the currency lost ground against all other major currencies throughout the course of the day. Data released yesterday should’ve been positive for the pound: the UK Net lending figures increased the manufacturing PMI data figures increased as well as mortgage approvals. Usually all of these data releases would’ve been positive for Sterling and caused the currency market to be affected by this. It seems that the political uncertainty and rising U.K. debt seem to be causing the pound to crumble under the pressure of other major currencies.

 Meanwhile the Dollar is still experiencing strength against Sterling and for those looking to Sell Dollars at present is possibly the best time. Some of the levels experienced over the last few weeks have provided the best opportunities for those looking to sell this currency in nearly a year.

 The currency market and most specifically, the pound remains volatile in present times and therefore it is important to consider talking to a professional within the field. If you contact a currency broker they will be able to inform you about market trends which will aid you in making sure you purchase your currency at the correct time.