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By Tom Higham

There was little suprise this morning as the Pound continues to lose ground against all the major currencies including already over one percent against the US, Canadian and New Zealand Dollar, while Sterling is down three quarters of a percent against the Euro. There was bad news for the UK housing market this morning as prices were shown to be falling again as the bad news for the UK economy continued. The signs are bad for Sterling so if you need to send money overseas complete the contact us form and an experienced curerncy broker will be in touch to explain all the options open to you to help ensure you get the best exchange rate and save money on your currency transfer.

By Alex Ellis

Sterling currency movement yesterday

Sterling saw a slight recovery yesterday as it seemed that yesterday’s Bank of England inflation survey showed that expectations for inflation in 2010 were slightly higher than expected. This was seen as a positive because high inflation normally leads to a hike in interest rates and this will in turn attract investors and make the pound a more sought after currency.

The potential impact of the Bank of England minutes

Next week sees the Bank of England minutes released and the effect of this release could outline the long term future of sterling exchange rates. I am under the opinion that if any extension to Quantitative Easing is announced then this could cause sterling weakness. In the past when this form of announcement has been made it has caused sterling weakness and therefore this is highly likely.

By Alex Ellis

There are a number of factors that are influencing the currency market today; most notably the political uncertainty and the economical situation in Greece.

Both of these have weighed heavily on sterling and euro and this has caused the dollar to gain strength against both of these currencies as it is seen as more of a safer haven.

I am under the firm opinion that we will not see categorical sterling strength until we clearly know who our political party will be and what their fiscal policies will be. UK debt has mounted up massively since the recession and this needs to be tackled before we can see any form of economic growth.

By Alex Ellis

There are a number of key issues that will affect GBP exchange rates over the course of the coming weeks. Ever since a poll in the Sunday Times a couple of weeks ago showed that the UK is running the risk of a hung parliament, GBP exchange rates have tumbled. This looks set to continue as there doesn’t seem to be anything in the immediate future that can rescue sterling; it also seems that the government are favouring the weak currency in order to encourage exports.

For those looking to conduct currency purchases this doesn’t bode well for those looking to conduct currency purchases, tied with the mounting UK debt it seems that until we have a clear political party in place the currency market will remain especially volatile.

Foreign Currency Direct has a number of tools in place to ensure that even when the market remains as volatile as it currently is you minimise your exposure.

By Tom Higham

As political pressure continues to mount on the UK Sterling is still falling this morning. Sterling Dollar exchange rates are now below the 1.50 marker and Sterling Euro has fallen below the 1.10 level. Should confidence continue to wain for the UK economy we could well see the Pound fall further meaning good buying opportunities may be few and far between.

So, if you need to send money overseas please complete the contact us form and an experienced currency broker will soon be in touch.