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By Michael Vaughan

Sterling continued yesterday’s strong performance against the US dollar gaining a further 0.25% and reversed some of the losses seen against the Canadian Dollar yesterday.

Both the US and Canadian Dollar are affected by the price of oil as oil is priced in USD and with Canada being the second largest exporter of oil. When the price of oil increases you will often see the CAD strengthen and the USD weaken.

By Leigh Smith

With yesterday’s improvements for anyone looking to send money to Canada or the US the spike was seen to be short lived. So far during this morning’s trading we have seen the Pound lose 0.1% against both the US and Canadian Dollar as GBPUSD and GBPCAD exchange rates revert back to their form of late.

By Michael Vaughan

Sterling exchange rates have strengthened over 1% against the USD as investors worries with regards the liabilities held within Dubai eased and focus was taken away from the safe haven of the USD. This has created some unexpectedly good buying levels for GBP/USD and could be a good opportunity to take advantage.

By Rob Bastin

After another terrible start to the week for Sterling, this morning has offered a rare positive day on the markets for the pound. Better than expected house price data from nationwide has seen GBP/USD exchange rates improve by 1% by lunchtime on Tuesday. Movements of this sort have been rare of late with pound experiencing a slow downward slide and therefore today could offer a good opportunity to buy US Dollars.

By Leigh Smith

GBPUSD exchange rates have this morning increased to the tune of 0.5%, decreasing the cost of sending money to America.

On the back of the Dubai crisis, it seems a number of investors have been moving to the ‘safe haven’ US Dollar which may have been why we have seen such strength for the greenback of late. The question is, will this morning’s movement for Sterling be sustained or just a short term spike? For anyone looking to transfer UK Pounds to US Dollars getting directly in touch with a broker through the enquiry form could prove a wise move.