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By Leigh Smith

Today’s trading for both GBPUSD and GBPCAD has started off relatively calmly, with modest changes in exchange rates seen so far this morning.

Tomorrow however, the US Bureau of Economic Analysis release their GDP figures for Q1. With expectations at 3.5% growth for the US economy, and when comparing to UK GDP increasing at 0.3% yesterday, I believe it is imperative to keep a watchful eye on the markets in the build up and after this release, or have an experienced currency broker watch for you. Figures come out at 1.30pm.

By Leigh Smith

So far this morning we have seen modest gains for the Pound accross the board, including GBPCAD exchaneg increasing by 0.6%. This seems to be mainly on the back of positive sentiment around the UK economy following GDP figures released this morning confirming the economy did grow as previously thought at a rate of 0.3%.

The movements however have been quite different for GBPUSD exchange rates, with the cost of buying US dollars increasing by over 1%.

If you have a requirement to buy Dollars, either US or Canadian, then feel free to get in touch today and one of our experienced brokers will happily explain all of the options available to you.

By Leigh Smith

For anyone looking to buy USD  then unfortunately the markets have today moved against you, by 0.85%. However, sterling Canadian dollar exchange rates have improved by over 1% at the time of writing, making buying Canadian dollars significantly cheaper.

If you have a requirement to buy dollars, be it US or Canadian, then make an enquiry today and one of our experienced brokers will be in touch shortly to explain how you can achieve the best dollar exchange rate.

By Leigh Smith

This morning we have the Bank of England release the minutes from their May meeting. With all eyes on the release to show any detail or hint at a future interest rate hike, today could potentially be quite a volatile day on the market ones again.

On the political front, the new Government gets sworn in today, starting with David Cameron this morning. The market seems to be hopeful that the new Con-Lib coalition may release soon their full plan on how to reduce the UK debt. If the plans seem positive we may see GBPUSD rates back up to that magic 1.50 mark in the not too distant future.