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By Rob Bastin

The pound saw losses againt most major currencies today after poor trade balance figures released this morning. GBP/USD exchange rates dropped below the 1.50 level again and GBP/CAD continues to plummet to new record lows hitting 1.53’s by the afternoon and finishing 0.8% down on the days trading.

By Rob Bastin

After a terrible start to the month Sterling made a small recovery against most major currencies today after PMI services data came out at 58.4, above the 55 expectations. GBP/USD exchange rates were up by over 1% by the end of the day and GBP/CAD had also gained 0.5%. The markets will be eagily awaiting the Bank of England’s interest rate decision tomorrow lunch to see if QE is to be extended or not.

By Rob Bastin

Today the Bank of Canada held interest rates at 0.25% as expected but still the Canadian Dollar was able to gain over 1% against the pound reaching new record low exchange rates. This is providing excellent selling opportunities for anyone looking to convert CAD back into Sterling. Recent concerns over the potential for a hung parliament in the UK also saw cable exchange rates drop a further 0.25% today, with rates sat near to the lowest level in 10 months.

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%.