www.currencyline.co.uk

By Jonathan Watson

Today marks the UK’s Emergency Budget. This is going to be watched very closely and should move the market.

Anticipation is for there to be some severe public sector cuts. Any cuts will obviously go some way to reducing the governments spending but will they go too far, jeopardising our recovery and pushing us back into recession?  Cutting 50000 jobs in the public sector will mean 50000 less employees wages to pay. But it will mean an extra 50000 people potentially claiming benefits and an extra 50000 people with reduced incomes no longer spending on goods and services in the UK. The knock on effects of economic measures can be quite severe and are not always predictable.

There has been some Sterling weakness this morning against both the US dollar and the Euro, in anticipation of this.

Such movement can drastically affect your foreign currency requirements. If you have foreign property to purchase, need to top up a foreign currency account or do a bank to bank foreign exchange transfer, use the contact us form and one of the traders from this site will be happy to discuss the best way to save you money on currency transactions.

By Alex Ellis

Sterling exchange rates have slipped this morning as it seems that unemployment figures released yesterday may now be affecting the exchange rates. Sterling has therefore lost significant ground this morning across the board and this looks set to continue for the remainder of the morning.

These rates are still historically high at the moment and weakness looks set to continue for the majority of the morning, unless today’s EU summit can cause some Euro weakness. The Euro zone currently has a large degree of uncertainty and there are rumours that Spain could follow in the footsteps of Greece.

This makes for a very volatile currency market and if you are looking to conduct a currency purchase, use Currency Line to contact an experienced currency brokerage.

By Jonathan Watson

The Euro has taken a real battering of late. Last week saw the Euro hit a 4 year low against the dollar and Sterling has gained a good 4 cents against the Euro in the last few weeks. But this week things seem to have settled for the Euro. Some positive news on manufacturing and a general feeling on the market that too much has been made of the debt fears has I believe led to this stability.

France and Germany, the leading Eurozone members are reported to not see eye to eye on the best way to tackle the debt crisis, but they do agree it needs to be solved. We have seen significant amounts of money directed at tackling the debt crisis. Most recently The Special Purpose Vehicle and earlier in the year, the Emergency Loans Fund. I don’t predict a major flucatuation on the Euro for the rest of this week, but next week will prove interesting with the UK’s Emergency Budget released and more German and European manufacturing data.

If you need to send money overseas bank to bank or make any foreign currency transactions bank to bank for any personal or commerical reason, please use the contact page and one of the experienced traders that write on this blog can discuss your requirements.

By Jonathan Watson

Sterling has made strong gains against the dollar today presenting a great opportunity to buy dollars. Negative data on US retails sales and Consumer Confidence  last week weakened the dollar, with invenstors looking to move their money from USD to GBP. The verdict from the OBR (Office of Budget repsonsibility) has been that Britains future growth will not be as  strong as predicted, but very importantly not as debt laden. This means interest rates may be raised later in the year hence the movements to Sterling. To find out more and discuss your currency requirements, please fill in the contact form and an experienced trader will be in touch.

By Alex Ellis

Sterling exchange rates remain strong across the board with the most significant improvement still being in the GBP/EUR pairing which has continued to show healthy gains for the last two weeks.

Tomorrow sees estimated figures for UK GDP, it will be interesting to see how this release will come out as in the past predictions have been overally optimistic. There is also a whole host of industrial production figures due to be released and this could therefore cause sterling to falter tomorrow.

If you have an upcoming currency requirement, use Currency Line to be put in touch with an award winning broker who can help to keep you well informed of any upcoming data releases.