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By Alex Ellis

Sterling exchange rates remained steady this morning following yesterdays losses against the Euro. These losses were experienced following uncertainty surrounding the possibility of a double dipped recession. A senior member of the Bank of England was quoted this week as saying he believed we would enter into a double dipped recession and the market responded to this.

Meanwhile in other news US dollar exchange rates have peaked at the highest levels seen for over 8 weeks. If you are looking at buying levels you are much better off doing this now than you would’ve been a few weeks ago.

By Alex Ellis

Sterling exchange rates have fallen drastically over the last 48 hours as the Bank of England’s policy maker Adam Posen revealed he is not ready to raise interest rates because he thinks we may enter into a double dipped recession.

If we were to enter into a double dipped recession then we could only expect sterling exchange rates to tumble downwards. This news has had a clear and obvious negative effect on current exchange rates and therefore if you do have an upcoming currency requirement then you may want to consider booking forward to avoid any future losses.

By Jonathan Watson

The last week saw some very volatile trading days. Sterling gained about 4 cents against the Euro and 3 cents against the US dollar. There were also significant gains against most major currencies including AUD, NZD, CAD and ZAR.

Today a report by the one of the policy makers at the Bank of England, Andrew Posen disturbed the markets. He stated that the UK is in a very tricky position following the Emergency budget, setting itself up for an even harder recovery from recession. Whilst he conceded the measures taken were necessary, the tone was not too warm and Sterling lost over a cent against both the Euro and US Dollar.

If you have any currency transfers to make, please use the contact form to speak to an experienced currency trader who can advise the best time to try to secure your currency to make the most of your transfer.

By Alex Ellis

Sterling exchange rates have continued their positive trend overnight following comments by the president of the Bundesbank that Germany’s economy would not fully recover until 2013. Germany is widely regarded as the largest economy within the euro zone and a statement of this magnitude tends to have a dramatic affect on euro exchange rates.

UK GDP figures are due to be released tomorrow and this could have a short term impact on sterling’s gains. The most recent data releases for sterling have been found to be some way short of expectation and therefore this release could follow the trend. If this were to happen then we would expect to see short term losses for sterling.

By Alex Ellis

Sterling exchange rates hit the highest levels seen since Nov 2008 against the Euro once again today, these levels have not come around often since the UK first entered the recession and will therefore come as positive news for anyone who was looking to delve into the currency market.

Against other currency pairings sterling has been gaining strength as well and therefore now is a good time to consider doing any sterling currency transactions that you may have.