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By James Lovick

The pound has seen a good run against most of the currencies. Sterling euro rates are looking attractive and exchange rates for the US dollar have hit a 10 month high. Although some of the banks are performing better some of them are still showing hefty losses including Lloyds which could keep currency rates for the pound at bay. There is a host of data this morning in the shape of manufacturing and also the services sector. For anyone buying euros or selling euros then these are likely to shape the day. The relases are out at 09:30 this morning.

By James Lovick

We are seeing sterling strength this morning probably still on the back of the positive mood following the house price data yesterday. This is making buying euros cheaper.

For currency transfers to the eurozone exchange rates are moving in the right direction. Currency rates across the board for sterling are on the up.

For anyone selling euros the strength of the pound should be of concern. This is also true for anyone selling dollars.

We have Canadian GDP figures out this afternoon which could change the price of Canadian dollars dramatically. Similarly we have US GDP data this afternoon which could be a similar story! Lot’s going on!

By James Lovick

The Green shoots are back! The pound saw good gains against the euro this morning probably on the back of the sharp rise in house prices. Exchange rates for the pound against the USD also increased. Anyone in need of currency transfers away from sterling are in a much better position following the release. All the same with GDP so low and unemployment rising as we all know, it does make you think how long we can see currency rates for for the pound increasing.

By James Lovick

All eyes on the GDP figures released at 09:30 this morning which could seriously effect sterling exchange rates. The forecast is for an improvement on the last quarter although still in negative territory which is likely to keep the currency at bay.

Personally, with unemployment rising and all the other problems I would be surprised if the figure came in as good as this. If there is a day where the figures could come in well below forecast then this is probably one of them. Expect volatility for both sterling euro exchange rates and sterling dollar. It could be an interesting day!

By James Lovick

As far as sterling exchange rates are concerned more doom and gloom has come from the National Institute of Economic and Social Research predicting that it could be 5 years before the UK economy recovers to last year’s levels. Combined with poor unemployment figures it is likely to keep sterling euro rates on the back foot. UK retail sales are out this morning at 09.30 which could create some volatility for the at present sliding pound. If you have currency transfers then this could give some direction for sterling this morning.