www.currencyline.co.uk

By Alex Ellis

There are a number of factors that are influencing the currency market today; most notably the political uncertainty and the economical situation in Greece.

Both of these have weighed heavily on sterling and euro and this has caused the dollar to gain strength against both of these currencies as it is seen as more of a safer haven.

I am under the firm opinion that we will not see categorical sterling strength until we clearly know who our political party will be and what their fiscal policies will be. UK debt has mounted up massively since the recession and this needs to be tackled before we can see any form of economic growth.

By Alex Ellis

There are a number of key issues that will affect GBP exchange rates over the course of the coming weeks. Ever since a poll in the Sunday Times a couple of weeks ago showed that the UK is running the risk of a hung parliament, GBP exchange rates have tumbled. This looks set to continue as there doesn’t seem to be anything in the immediate future that can rescue sterling; it also seems that the government are favouring the weak currency in order to encourage exports.

For those looking to conduct currency purchases this doesn’t bode well for those looking to conduct currency purchases, tied with the mounting UK debt it seems that until we have a clear political party in place the currency market will remain especially volatile.

Foreign Currency Direct has a number of tools in place to ensure that even when the market remains as volatile as it currently is you minimise your exposure.

By Alex Ellis

In order to achieve the best exchange rates one must ensure that they are well informed before committing to any form of currency purchase. The currency market is the most volatile financial market in the world, for example on Friday if you were conducting a £100,000 currency conversion into US Dollars then you could’ve gained an extra $4,424 if you bought at the high of the day compared to the low.

 The easiest way to gain an understanding of the workings of the market and current exchange rates is to contact an experienced currency broker who can help to outline historic exchange rates as well as any potential impacting factors on the currency market.

 The Bank of New York has predicted that Sterling/Euro Exchange Rates will almost hit parity towards the mid-point of this year. For anyone looking to purchase Euros this will come as ominous news. I personally feel that Sterling may drop one last time before we see a period of prolonged recovery, and I believe that this will happen as UK GDP and other economical data will begin to falter.

In order to buy before any downturns in exchange rates, use currency line to contact our award winning currency brokerage.

By Alex Ellis

If you are looking at changing pounds into a foreign currency, then you will want to know what current impacting factors are effecting the currency market and what implications these will have when sending money overseas.

This morning has seen Dollar exchange rates massively gain strength against Sterling, this follows the news from the FED last night that the cost of borrowing for the US banks has increased. This has been seen as a major positive for the Dollar and has caused rates to drop to the lowest levels for 9 months.

I personally believe that we may see levels hit the 1.52’s as this strength seems to be fairly prolonged and is showing no signs of improvement for the pound. This along with the possiblility of a slump in UK GDP figures later on next week, doesn’t bode well for the future of the pound.

Sterling hasn’t just been struggling against the USD, as Euro rates have been somewhat affected as well, previously Sterling exchange rates were showing strength against the Euro because of Greece. However it seems as is often the case with spikes such as these; we have reached the high point and are now experiencing the downturn.

By Alex Ellis

Sterling exchange rates have remained especially volatile this morning as the market remains apprehensive of the details surrounding the bailout package for Greece. Initially it seemed that European finance chiefs were  confident as to what measures would need to be put into place in order to assist Greece, however their reluctance to specify what their plans are, has left the market reeling.

The news from the US is that is that the US government may raise interest rates at some point in the near future, if they were to take these measures then this is likely to impact on Dollar exchange rates. Many commodities are priced on the greenback and therefore this could have a huge significance for various currency pairings.