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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 Tom Higham

As political pressure continues to mount on the UK Sterling is still falling this morning. Sterling Dollar exchange rates are now below the 1.50 marker and Sterling Euro has fallen below the 1.10 level. Should confidence continue to wain for the UK economy we could well see the Pound fall further meaning good buying opportunities may be few and far between.

So, if you need to send money overseas please complete the contact us form and an experienced currency broker will soon be in touch.

By Alex Ellis

Sterling rates tumble after RICS announce UK housing is outstripping demand

Sterling exchange rates have tumbled this morning as RICS has shown that supply is beginning to outstrip demand in the housing market. This does not bode well for the future of the UK economy because historically the UK has relied heavily on a strong housing sector and this is therefore a good indicator of the health of the economy.

Politics pushing the pound down

Currently the possibility of a hung parliament is pushing the pound down and causing Sterling to lack strength across the board against the majority of major currencies. For those looking to conduct some form of currency purchase this makes for very testing times. At Foreign Currency Direct we have measures in place that can help you when conducting any form of currency purchase.

By Tom Higham

The Pound has started the day strongly against the US Dollar gaining half a cent, however against most the other major currencies Sterling is holding firm at current levels. With very little economic data due out today the movement in the markets is likely to come as a result of investor confidence and this could highlight how little faith there is in the Pound at present. If you want to stay in touch with what is happening with the currency market then please complete the contact form and an experienced currency broker will be in touch to discuss your requirements and all your options.