By James Lovick

The pound is seeing some early losses this morning probably on the back of the positive news yesterday that both France and Germany have come out of recession. The market is also moving very quickly today and this is true against all the major currencies. Sterling euro has dropped almost 0.5% in the last half an hour! For anyone selling euros or any other currency there could be some opportune spikes in the market here and over the course of next week.

 

More bank losses this morning  from Japanese bank Nomura could also be contributing to the negative effect on the price of sterling.

Eurozone inflation figures are out at 09:30 which could give further direction. What will the European Central Bank do next with most of the Eurozone in recession and just two of the major players showing growth? Tough decisions – Could this spell trouble!