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By Leigh Smith

Do you currently have a requirement to send money to Canada or America? Over the Christmas period we have seen little movement as many markets closed, however as the world makes their way back to work in between Christmas and New Year the Pound had witnessed gains against both the US Dollar and Canadian Dollar.

The cost of buying American Dollars has decreased by 0.3%, and 0.25% for anyone looking to buy Canadian Dollars so far during this morning’s trading.

By Leigh Smith

During the course of yesterday the pound strengthened across the board on the back of positive data for UK house prices and inflation. Inflation rose to 1.9% from Octobers figure of 1.5% and the RICS survey showed increased house prices for the fourth month in a row. Both were seen as positive for the UK and Pound.

However, it may be worth noting, back in 2005 the UK was the world’s fourth largest economy, we are currently seventh and it is being predicted that countries high in natural resources would overtake the UK over the coming years. When this fall is compared with Sterling exchange rates, it seems no wonder that some analysts are predicting the possibility of parity with the Euro and GBPUSD exchange rates potentially falling to 1.40.

By Rob Bastin

A host of data saw the pound gain ground against most major currencies on Tuesday with the expception of the US Dollar. Better than expected data from across the pond matched the stregth of Sterling during todays trading however a large sell-off of Euro/Dollar position saw the pound gain against the weakening Euro and lose against the strengthening pound. Concerns in the euro-zone have arisen after Greece had its credit rating downgrading, which has caused investors to start moving money out of the Euro, and back into the safe haven of the dollar, a trend that will be expected to continue in the mid term.

By Michael Vaughan

The pound has fallen against the USD and Canadian Dollar today falling 0.5% and 0.25% respectively.

The USD has performed particularly well of late against sterling. As being perceived a safe haven currency it performs better when the market is spooked by financial concerns such as those seen in Dubai recently.

By Leigh Smith

Tomorrow evening could be key for anyone looking to buy US Dollars due to the Federal Reserve releasing their intetrest rate decision at 7.15pm. Higher interest rates or the expectation of a rate increase in the near future could help boost the US Dollar and in turn increase the cost of sending money to the US.

Before then however, there is a string of influential data releases from the US, all of which may have an impact on GBPUSD exchange rates:

• Producer Price Index figures (1.30pm)
• Industrial Production (2.15pm)
• Consumer Price Index figures (1.30pm tomorrow)
• Housing Starts (1.30pm tomorrow)

Each of the above are expected to show improvements, which may in turn cause Dollar strength. If the figures are released as expected or better then we may witness GBP USD exchange rates slide as a result.