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By Alex Ellis

Sterling exchange rates have continued their positive trend overnight following comments by the president of the Bundesbank that Germany’s economy would not fully recover until 2013. Germany is widely regarded as the largest economy within the euro zone and a statement of this magnitude tends to have a dramatic affect on euro exchange rates.

UK GDP figures are due to be released tomorrow and this could have a short term impact on sterling’s gains. The most recent data releases for sterling have been found to be some way short of expectation and therefore this release could follow the trend. If this were to happen then we would expect to see short term losses for sterling.

By Alex Ellis

Sterling exchange rates hit the highest levels seen since Nov 2008 against the Euro once again today, these levels have not come around often since the UK first entered the recession and will therefore come as positive news for anyone who was looking to delve into the currency market.

Against other currency pairings sterling has been gaining strength as well and therefore now is a good time to consider doing any sterling currency transactions that you may have.

By Alex Ellis

The UK’s emergency budget was announced today and this is a measure put in place by the coalition to combat growing debt and the UK’s budget deficit. During this announcement we found out that VAT is set to rise to 20% in the UK as well as a number of other measures which are set to be put in place to combat debt.

The currency market reacted very postively to this news and rates have climbed up almost half a percent on this mornings exchange rates. It will be interesting to see what happens in the future as this improvement may simply be a knee jerk reaction to the emergency budget.

 If you are looking at a GBP/EUR currency exchange then use Currency Line to contact an experienced currency broker who can assist.

By Alex Ellis

Sterling exchange rates have slipped this morning as it seems that unemployment figures released yesterday may now be affecting the exchange rates. Sterling has therefore lost significant ground this morning across the board and this looks set to continue for the remainder of the morning.

These rates are still historically high at the moment and weakness looks set to continue for the majority of the morning, unless today’s EU summit can cause some Euro weakness. The Euro zone currently has a large degree of uncertainty and there are rumours that Spain could follow in the footsteps of Greece.

This makes for a very volatile currency market and if you are looking to conduct a currency purchase, use Currency Line to contact an experienced currency brokerage.

By Alex Ellis

Sterling exchange rates remain strong across the board with the most significant improvement still being in the GBP/EUR pairing which has continued to show healthy gains for the last two weeks.

Tomorrow sees estimated figures for UK GDP, it will be interesting to see how this release will come out as in the past predictions have been overally optimistic. There is also a whole host of industrial production figures due to be released and this could therefore cause sterling to falter tomorrow.

If you have an upcoming currency requirement, use Currency Line to be put in touch with an award winning broker who can help to keep you well informed of any upcoming data releases.