In what is likely to be a quiet day for economic data the market is looking forward to tomorrow’s UK Gross Domestic Product (GDP) figures which are the final revised Quarter 4 figures, if this confirms that the -0.2% was accurrate then we are just one negative quarter away from recession. While expectations are that the figures will come out negative we could see some Sterling weakness off the back of the announcement as talks of recession are likely to hit the headlines again. With recession looming it will mean that every UK economic data will be even more closely scrutinised to try and help predictions as to whether the economy will fall back into the dreaded recession. If you would like to be kept informed of any currency market movement following tomorrows announcement speak to one of our experienced currency brokers today.
In The States yesterday US Fed Chairman Ben Bernanke hinted that the US central bank will keep its current monetary policy in place stating the FED need to remain cautious. As a result Sterling spiked up by over 1.5% against the USD yesterday providing some excellent buying opportunities for those clients looking to buy US Dollars. So, if you would like a live exchange rate on USD speak to us today on 0800 328 5884 or email firstname.lastname@example.org