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Currency Market News

Our blog is below, to help you understand what's moving currency rates and affecting the cost of your international payments. For some friendly guidance on your own transactions, either for your business or yourself, simply fill in the form above and an FCA-regulated currency broker will be in touch to assist you, without any cost or obligation.

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Currency News
19 March 2012

Latest Currency News;
Budget this week

This week's economic calendar is dominated by the UK budget on Wednesday, although there are plenty of other important news releases to be aware of, whichever currency you need to buy or sell.

Perhaps more importantly for sterling, we have UK inflation figures tomorrow, and Bank of England minutes plus public borrowing on Wednesday morning. These will all set the tone for growth and interest rate expectations, both of which have an influence on exchange rates. Generally, lower inflation and growth forecasts will lead to a weaker Pound and lower exchange rates for sending money abroad.

Overseas, there is no significant Eurozone data due out until Thursday's consumer confidence figures, and with sovereign debt crises not dominating headlines as much, it could be a quiet week for the Euro. There is still the underlying threat of Greek debt defaults in the future, and of the crisis spreading to other economies in the coming months. For now, Euro rates are near the top of their recent trading ranges.

The US Dollar suddenly looks weaker, after Friday's inflation figures showed pressure building in the US economy. The cost of a US Dollar reduced by over 1% on Friday and exchange rates have climbed again this morning, giving the best rates for buying USD for some weeks.

At home last week, unemployment data on Wednesday was not encourging, but broadly as expected, so sterling fell a little but has since recovered. A slight warning perhaps of the Pound's susceptibility to negative data.

Many buyers are currently using Forward Contracts to lock into rates for the coming months, and if you would like to see what kind of rates are available to fix for your own requirements, please contact Robin Haynes for a quote, alternatively simply reply to this email.

Do also check currency blogs around the internet which are updated throughout the week with breaking news.

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