By Alex Ellis

At 12:00 (GMT) the Rightmove House price data was released, this is seen as showing the general strength of the U.K. housing market, and this relates to the overall economy as house prices correlate to the state of the economy. This data was much worse than expected and has caused Sterling to lose ground against all of the major currencies this morning; the data showed that house prices has fallen 2.2% in December but were 1.7% higher on the year. From this data release we can see that the economy remains fragile and therefore will have an impacting effect on exchange rates, in order to avoid losing money when buying Foreign Currency, be sure to contact an experienced currency broker who can guide you through the process.

For those looking to purchase AUD it may be worth keeping a watchful eye on the currency market today, as tomorrow sees the Reserve bank of Australia release the minutes from their committee meeting two weeks ago. Their past three meetings have seen them announce interest rate rises, so it is possible that this latest committee meeting will see the announcement of a fourth interest rate rise. This will be seen as a positive for those looking to sell Australian Dollars but for those looking to purchase AUD this will have a significant effect on exchange rates as it will cause Sterling to weaken.