Today at midday we have the Bank of England (BoE) interest rate decision due and although we are expecting no change in rates there is the possibility that further Quantitative Easing (QE) could be announced following the news that last month two memebers of the BoE had voted for more QE. With this in mind we could see some significant volatility on Sterling exchange rates so if you need to sell Sterling and buy Euros or buy Dollars speak to us this morning so we can discuss the options available to you and keep you informed of any news coming out of the decision today.
This weekend in the UK is the Easter Bank holiday which means Foreign Currency Direct will be closed from 6pm today until 8:30am Tuesday. Unfortunately despite ths UK having bank holidays the currency market does not close and tomorrow we have US non-farm payroll which can be one of the most important economic data releases for people looking to trade GBP USD. We have a number of contract types that can assist clients that need to trade currency immediately which includes limit orders and stop loss contracts which means even though we wont be here to monitor the market we can put these orders into our systems which will then monitor the markets for you automatically. This means if you place a limit or stop over the weekend and the market moves in your favour you are still able to buy currency at your desired levels.