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By Alex Ellis

It has been not only a tough week for sterling but also a tough few months, the market has been left reeling following weaker than expected releases for the pound and the uncertainty surrounding the recovery of the economy. Investors seem to be moving away from the pound and looking towards those currencies seen as less risky, such as the Euro, ZAR and CHF.

If you are looking at buying a property overseas then you are facing some very troubling times, a £200,000 transfer will now achieve you €20,500 less than it would have at the high over recent months. The currency market is very volatile at the moment and has been since the recession first hit therefore if you do have an upcoming currency requirement contact a currency broker who can help to inform you of any impacting factors on your exchange.

By Alex Ellis

Sterling has experienced gradual gains in the last few weeks, however yesterday, GBP lost ground against the entire spectrum of major currencies; The Euro, Us Dollar, Australian Dollar, New Zealand Dollar and South African Rand.

One explanation of this is what has been termed the ‘Currency Compass,’ which outlines the factors that influence the market. These four factors are: Political Certainty, Economic Stability, Acts of Terror and Acts of God. Currently three of these factors are influencing the Pound; the only one which isn’t being Acts of Terror.

Today there are a number of data releases that could impact the market; this could make the market especially volatile. In order to ensure you reduce the risk when transferring money abroad, contact an experienced currency specialist who will aid you through the process.

The most influential data release for the U.K. will be the mortgage approvals released today at 9:30AM. This will show how the housing sector is fairing in this economic crisis and if data is not as expected could impact Sterling Exchange Rates.

By Dan Wright

Sterling weakness – where do we go from here?? (more…)

By Tom Higham

Red screen at morn traders be warned! Sterling has started the day losing ground against most the major currencies as the  fear of the swine virus continues to plauge trading.