Yesterday the UK Gross Domestic Product (GDP) figures came out revised down from the expected -0.2% to -0.3%. This is more bad news for the UK as two negative quarters of GDP will mean the UK is officially in recession, and now that we know for certain that the last quarter of 2011 showed contraction the Q1 figure for 2012 which will be announced next month will be one of the most important data releases of this year so far. If you would like to discuss with a currency expert how the GDP figures could effect your currency transfer call us today. At Foreign Currency Direct plc we offer a number of different contract types which include a forward contract where, for a small deposit, you can fix your rate of exchange for a period in the future which is perfect to help you budget and take some of the risk out of the market. To find out more call us on 0800 328 5884.
More negative news for the UK came out this morning as Nationwide stated house prices fell 1% in March meaning they are now lower than they were last year. The average house price fell 0.9% down to just over £163,000, the largest annual fall since June 2011. As has been mentioned before any fall in house prices can really damage the UK and therefore Sterling exchange rates. If you need to transfer money abroad and are concerned exchange rates could fall further speak to us today on 0044 1494 725353 or email firstname.lastname@example.org