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.

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.

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

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.