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By Alex Ellis

Tomorrow’s Bank of England minutes will not be a guarantee but should give some insight into how likey further QE is and whether or not we will see this before the end of the year. Sterling has fallen around 8% against the Euro on the back of a risk of an extension to the QE programme and therefore this release could be key.

 The last time the Bank of England actually extended their QE prgramme sterling lost 4% against the Euro and therefore this could be the beginning of a prolonged period of weakness for the pound.

In other currency news the FED chairman, Ben Bernanke is due to conduct a speech at 21:00 (BST) today and this could help to outline what the future for the economy is. There has been increased speculation of an increase to the Bank of England’s QE programme and therefore all eyes will be on this release to see if the FED outline what plans are for the QE2 programme.

By Alex Ellis

Jobless claims figures were released for the UK yesterday and showed that although the number of unemployed had decreased the number claiming benefits had in fact increased. There has also been increased speculation of an extension to the Bank of England’s quantitative easing programme this has only helped to fuel weak exchange rates for the pound.

Meanwhile in otgher currency news the pound has gained against the dollar as the Fed have once again hinted at an extension to their quantitative easing programme. A further extension is seen as damaging to the economy as it will raise debt levels and therefore this has caused sterling to gain massively against the greenback.

If you have an upcoming currency purchase then by using an experienced currency broker you are able to protect your position when conducting a currency conversion. Doing so without any advice or prior knowledge could cost you well into the thousands.

By Alex Ellis

Today’s  Bank of England interest rate decision at 12:00 BST is key to market, if there is any hint of an extension to the Bank of England’s quantitative easing programme then you would expect sterling to tumble even further. However if the Bank of England do not expect any extension then we could expect a sterling recovery. Therefore this release is one I would highlight as being key to the market.

In US news today at 13:30pm today US jobless claims figures are released and these tend to outline the future of the economy. A percieved negative figure here could cause further swings in sterling’s favour so keep in close contact with Currency Line around this time to ensure you maximise your savings.

By Alex Ellis

Sterling has continually suffered as rates have been plummeting over the last few weeks, a lot of this is due to the fact that there is increased concern regarding the possibility of QE2 as well as the prospect of the budget cuts on the 20th October 2010.

On Thursday at 11:00 the Bank of England’s interest rate decision is due and if this were to show an increase rate hike then we would expect sterling exchange rates to follow suit and regain some of the recent losses. In my opinion it is more likely that the Bank of England will keep rates on hold as the economy is not yet in a stable enough position to raise interest rates. I think that if we do see any raises it will be in the beginning of next year once the budget cuts have been in place for some time.

In US news, Ben Bernanke recently warned that the US faces serious long-term fiscal challenges and these could threaten the nations long term future. ADP employment change is due today at 13:15 and if we were to see a negative release then we would expect the Dollar to weaken as a result.

For any currency requirements use Currency Line to contact an experienced currency broker who can help to ensure that you are well informed before committing to any trade.

By Alex Ellis

Sterling has suffered somewhat this morning as the expectation for an extension to the Bank of England’s Quantitative Easing programme gradually begins to pick up pace.

The Bank of England is due to announce their interest rate decision today and many analysts are expecting the rates to be kept on hold at the record low of 0.5%. This has been seen as a negative as it is a further sign that the Bank of England’s long term outlook is not a positive as first thought.

Towards the end of the year the coalition budget cuts will come into play and as rates are already beginning to stumble, the impact of these cuts could be much more severe than first thought.

If you have an upcoming currency requirement it may be worth conducting your exchange sooner rather than risking the rates drop even further.