By Alex Ellis

Boxing Day sales saw a record number of shoppers hitting the high street in anticipation of the V.A.T. rise on the 1st of January. This rise future rise in V.A.T. has meant that Sterling remains very vulnerable and will do for the foreseeable future.

The British Retail Consortium have said 2010 is likely to be a difficult year for many retailers based on a survey showing that 4 out of 5 shoppers do not believe that sales levels will improve compared to 2009. As this year has been so tough many retailers have cut back on stock, and in order to cut cost many temporary staff will also be let go in order to minimise spending and cut costs. Figures and consequences such as these will have a significant effect on exchange rates and therefore in order to maximise your saving when conducting a currency transfer, be sure to contact an experienced currency broker.

Hometrack spokesman, Richard Donnell has said that 2010 will see slow growth in the housing sector for the U.K., this is as a result of lowered income for households and high unemployment. If house prices fall then this will impact sterling exchange rates and could create more risk when conducting a currency transfer.