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By Rob Bastin

Sterling had another tough day on the markets today contuing the losses seen so far this week. Poor industrial and manufactoring figures showed contractions of 0.4% and 0.9% respectively which saw the pound drop by 0.35% against the US and Canadian dollars by the afternoon. Analysts had been expecting postitive growth and so these figures have put even more pressure on the already suffering pound.

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 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 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.