This morning we are expecting to hear the latest revision of UK Gross Domestic Product (GDP) for 2011 Quarter 4. Earlier this year it was announced that GDP showed the UK economy had contracted by -0.2 and if this revision goes to show this figure was correct the UK will move another step closer to being in recession. Officially two negatve quarters of growth constitute a recession and as we head towards this dismal state of affairs it could mean more Sterling weakness. Over the last week Sterling exchange rates have fallen quite considerably, hitting a 10 week low against the Euro as the pressure mounts on the the UK economy. More negative news today could mean further losses for the Pound so if you need to transfer money abroad speak to one of our experienced currency brokers today.
If you have a currency requirement this week has highlighted how unpredictable and volatile the markets can be and how it is crucial to be in regular contact with a currency broker so they can keep you informed of any market movement that could have an impact on your transfer. To speak to one of our brokers call us today on 0800 328 5884 or 0044 1494 725353 or email email@example.com