By Alex Ellis

The gains seen yesterday for sterling following weak economic data for the UK were indeed short lived as rates once again began to drop during the course of this morning. This is following Business confidence figures for Germany which showed an obvious increase, and a positive release is seen to show a positive outlook for the Euro, sterling has weakened against this currency.

The UK is really suffering at the moment and the Euro seems to have jumped on the back of this. As the Eurozone is such a large economy it is less likely that there will be negative data releases as these are always balanced out by the larger economies positive releases. In the short term I feel that sterling will continue to suffer and therefore if you do have an upcoming currency requirement use Currency Line to contact an experienced currency broker who can help to portect your posistion.