By Alex Ellis

Sterling exchange rates have shown some resilience this morning as the losses that have been seen recently seem to have slowed. Sterling has been heavy hit recently following weaker than expected PMI data which showed that the future for the UK is still not certain. A senior member of the Bank of England commented last week that he expected the UK to enter into a double dipped recession, if this were to happen then the effect on exchange rates would be severe.

If you have an upcoming currency requirement then you may wish to conduct this before  we risk going any closer top a double dipped recession, otherwise the impact could make your transaction much more costly.