By Alex Ellis

During the course of the morning we have seen slight Sterling strength, after German Consumer Confidence figures were released at 07:00 AM (GMT) this morning, as the figures that were released were less than expected.

However the key data for the Pound this morning will be the U.K.  Gross Domestic Product (GDP) figures. For those who don’t know GDP is a measure of the total value of goods and services produced by the U.K. This is seen as a clear reflection of the state of the economy, therefore if the data released shows that the economy is still deteriorating or the data is not as expected, this will cause severe fluctuations in exchange rates.

Meanwhile the Bank of England has revealed that it lent RBS and HBOS ‘secret loans’ totalling £61.6 Billion, this raises question about the integrity of our government and will reduce the public’s confidence in all apsects of politics.

Factors such as those discussed here will have a considerable affect on the currency market; therefore as is often the case in life, it benefits to pursue the advice of a professional within the field.

In terms of buying foreign currency a currency broker would be the best source of information about the currency market.