By Alex Ellis

Sterling has rallied today as it has been announced that there will be no extension to the Bank of England’s QE programme. This was seen as positive news for the UK as the recent weakness has been caused by the threat of an extension to this programme. With the recent positive GDP figure I dont think we will see an extension to the austerity measures until at least the beginning of next year.

Therefore if you have an upcoming currency purchase you may want to conduct this before the year’s close to avoid any pitfalls caused by an extension to the Quantitative Easing programme.

In other currency news the pound is sat at a 9 month high against the Dollar, following better than expected housing data this morning. This tied in with the news that the Bank of England will not be extending their QE programme has ked to some strong developments for sterling.