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By Leigh Smith

Good news for anyone looking at selling foreign currency this morning as we have seen Sterling exchange rates fall against every majorly traded currency. This seems to be in preparation for UK GDP figures released tomorrow, with the focus on how accurate the predicted rise to 0.2% is. I think there is the possibility to see this figure come out slightly worse than expected, with the poor weather throughout December proving a stumbling block.

By Rob Bastin

GBP/USD exchange rates were down during the mornings trading as Sterling saw losses against all major currencies as the market opened. The pound was able to claw back some these early losses during the afternoon as US New Home Sales figures were significantly worse than expected. Anaylysts had forecast an improvement from -7.6% up to 3.8% but actual figures saw a further drop to -11.2%. cable finished the day 0.18% down.

By Rob Bastin

Sterling exchange rates dropped during the mornings trading after Bank of England governer Mervyn King commented the there may be necessary to further extend their quantitative easing policy. GBP/CAD exchange rates were able to recover significantly during the afternoon finishing nearly 1% higher than at the open. Cable exchange rates only recovered partially however with pound still down on the day by 0.35%.

By Michael Vaughan

GBP exchange rates have remained relatively flat this morning against both the US and Canadian dollar however the move we have seen is sterling negative. We have some important data coming out from the US this week with consumer confidence figures tomorrow and probably the most important, non-farm payroll unemployment figures, due for release on Friday. With the US having gained considerable ground against the pound and euro in recent weeks the market will look to these figures to see if this trend will continue.

By Leigh Smith

This morning has seen strength for the US Dollar against both the Euro and UK Pound. This I believe is on the back of quite positive comments from President Obama yesterday, stating that the US was through the worst of the crisis.

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