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By Michael Vaughan

Sterling exchange rates have again performed poorly against both the US and Canadian dollar falling nearly 1% in each case. Sterling has been preforming poorly mainly due to political concerns over the very real possibility the UK will find itself with a ‘hung parliament’ come election time, a situation which could be catastrophic for the pound.

By Michael Vaughan

Sterling exchange rates have gained against both the Canadian and US dollar this morning and with little data released in the UK and across the pond we may see this trend continue for the day.

Current dollar rates are very favourable for bringing money back into the UK and with the ‘flight to safety’ likely to continue I see little reason to suggest why the dollar will not carry on in this manner.

By Michael Vaughan

Canadian dollar rates have strengthened by over 2.5% against sterling as worries of political uncertainty hang over the UK and the pound. A similar move has been seen for GBP/USD with the dollar gaining over 1.5% by close of trading.

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 Michael Vaughan

Sterling has had a slow start to the weak falling against the US and Canadian Dollar this morning following a strong end to trading last weak.

Much of the focus for trading will be the Bank of England minutes released on Wednesday at 09:30 to give the market an insight as to what the Bank has in store with interest rates. Expect volatility following this release.