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.