UK Avoids Recession with 0.3% Growth

This mornings Gross Domestic Product (GDP) figures have confirmed that for the first quarter of this year the UK economy grew by 0.3% which was very positive for the UK and as a result has seen Sterling exchange rates improve. This news has brought some relief to the under pressure George Osborne who has stated that this news was encouraging. There is now hope that this positive news will help the UK economy recover and as a result could help push Sterling exchange rates further up. Sterling Euro is already up by over half a cent against the Euro and by over a cent against the Dollar, this means there are currently some excellent opportunities to buy currency. While there is currently an element of positivity and the exchange rates are up the growth is still minimal and there is still a long way to go before we can comfortably say that the UK economy has recovered, however this is certainly an encouraging start.

If you need to send money abroad and you would like to make the most of the current spikes in the rates of exchange make sure you speak with one of our experienced currency brokers who will be happy to discuss your currency requirements and the different options available to you. These options include a forward contract where for a small depsoit you can secure the current rate of exchange at todays levels for a period in the future. This is perfect for clients who are looking to make the most of the current exchange rates or to budget and take some of the risk out of the market.

If you would like to find out more you can call us on 01494 849752 or alternatively you can email me on