By Alex Ellis

Current foreign exchange rates are showing that Sterling is holding steady following losses during the course of last week, the most notable loss is for the GBP/AUD exchange rates which are currently trading at a 25 year low. For those looking to sell Australian Dollars and buy Sterling this is positive news as you may see a substantial return on your currency purchase

Meanwhile for those looking to trade Euros the exchange rates have seen significant losses compared to trading levels seen during recent weeks. I believe that this is on the back of the speculation surrounding Gordon Brown’s bullying as it shows a degree of political uncertainty and furthers the possibility of a hung parliament. The most significant data due out this week is German GDP data due out tomorrow at 07:00 (GMT), as Germany is considered one of the most major economies in the Euro zone any data they release can cause exchange rate movements if deviating from what has been predicted.