The Gross Domestic Product Figures (GDP) have been released by the Office for National Statistics (ONS) and have shown that in the last three months of 2013 the UK economy shrank by 0.3% a sharp decline compared to the 0.9% growth in the previous quarter. This means the UK is one quarter away from an unprecedented triple dip recession. As a result of this news Sterling exchange rates have fallen sharply on top of the recent decline. Sterling Euro exchange rates are now trading close to some of the lowest levels we have seen for over a year and Sterling Dollar exchange rates have fallen too. If you would like to discuss how the GDP figures could continue to affect Sterling exchange rates or how the recent shift in exchange rates will affect your currency trade please contact us.

If you need to transfer funds internationally and are looking to discuss the options available to you make sure you speak to one of the experienced currency brokers here at Foreign Currency Direct plc. To speak to one of our knowledgeable currency traders you can call straight through to our dealing floor for free on 0800 328 5884 or email me directly on