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By Alex Ellis

Sterling exchange rates remained steady this morning following yesterdays losses against the Euro. These losses were experienced following uncertainty surrounding the possibility of a double dipped recession. A senior member of the Bank of England was quoted this week as saying he believed we would enter into a double dipped recession and the market responded to this.

Meanwhile in other news US dollar exchange rates have peaked at the highest levels seen for over 8 weeks. If you are looking at buying levels you are much better off doing this now than you would’ve been a few weeks ago.

By Alex Ellis

Sterling exchange rates have fallen drastically over the last 48 hours as the Bank of England’s policy maker Adam Posen revealed he is not ready to raise interest rates because he thinks we may enter into a double dipped recession.

If we were to enter into a double dipped recession then we could only expect sterling exchange rates to tumble downwards. This news has had a clear and obvious negative effect on current exchange rates and therefore if you do have an upcoming currency requirement then you may want to consider booking forward to avoid any future losses.