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Are you looking at sending money to Canada or the US? Do you need to buy either the Canadian or US Dollar?

For anyone with either of the requirements above, then the cost of such transfer has slightly increased so far this morning, 0.7% US and 0.35% CAD. This is during a morning’s trading when UK RICS House price balance has shown an increase by 34%, something that is generally seen as positive for the Pound. The BRC (British Retail Consortium) have also released figures showing retail sales figures have increased by 1% to 3.8% growth in October, another positive influencer of the Pound usually.

If you have an upcoming foreign currency transfer it may be prudent to ask yourself one question….. If the Pound is struggling on the back of positive news, then how may the markets react if any negative news is released?