Currency Markets Await GDP Figures

This morning at 9:30 we are due to hear the latest Gross Domestic Product (GDP) figures. These figures will confirm whether or not the country is back in recession and the markets seem to be undecided as to what they will show, in fact a straw poll in our office this morning came out 50/50 for the figures to show we are in recession which highlights just how close a call this really is. As previously discussed in this currency blog if we are in recession there is a good chance we will see Sterling exchange rates weaken, however if it is confirmed we are not in recession then we could see Sterling strength. This could mean that today will be a busy day on the currency markets and with less than one hour to go if you do need to transfer money abroad speak with one of our currency brokers who will be happy to explain the options open to you.

If you would like to keep up to date with the latest GDP news keep in touch with this blog, call us on 01494 849752 or email me on trh@currencies.co.uk