It has been estimated that nearly £3bn was spent on Boxing Day alone as shoppers rush out to the shops to grab bargains. With many people suffering the effects of a double dip recession and a struggling economy it is no suprise that people want to make the most of any available sales and so we could see this years sales have a positive effect on the UK economy as the shops get a much needed cash injection. With the UK high street feeling the pinch the sales will be incredibly important for them, should they get their pricing right and entice in the shoppers then it could provide the positive start to the new year that they crave. Of course, a strong performance for the UK high street could help Sterling exchange rates strengthen against a number of major currencies. We have recently seen Sterling weaken against the Euro as confidence slowly starts to return to the Eurozone, so for those looking to sell Sterling and buy Euros then some big spending could be just what is needed!
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