The race for the US Presidency stepped up a level yesterday as it was announced that former Massachusetts governor Mitt Romney has won the first vote by the US Republican party as they search for their presidential candidate. It was a very narrow vote with Romney only winning by 8 votes however this is only the first vote of many, in fact it will not be until August when the Republican party’s candidate will be officially announced. While this race progresses over the course of the year there is a chance we will see an impact on the currency markets. The US is such an influencial economy that whatever happens during the course of the elections it is possible we could see the results having an impact on the currency markets.

Meanwhile in the UK we have seen polls from both Reuters and Deloitte announce that there is a strong chance of the UK re-entering recession this year, especially should a country leave the Eurozone. With so much uncertainty in the markets it is important to stay in close contact with your currency broker so they can keep you informed of any market movement. At Foreign Currency Direct plc we offer a number of contract types including stop loss and limit orders. A stop loss is a contract where clients can request that their currency of choice is bought at no lower than a certain level so they know their worst case scenario while a limit order is a contract where clients can request  their currency is bought should a certain level be reached – their best case scenario. Should you like to find out more information about these contract types please call us today on 0800 328 5884 or 0044 1494 725353 or email info@currencies.co.uk