Showing articles for July 2009

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Property market gives UK PLC a boost

30 July 2009
Exchange rates for sending money abroad are up across the board today - mostly due to Nationwide's house price survey showing a 1.3% rise in house prices for July.

The UK's biggest building society believes that we may even see house prices finish the year higher than they started - which would have been unthinkable just a few months ago.

This, along with a rise in mortgage approvals announced earlier in the week by the Bank of England, has given the Pound a welcome boost, as good economic news (along with the increased likelihood of higher interest rates in due course) tends to make the currency more attractive to investors.

As a result the Pound is now trading at nearly 1.65 against the US Dollar and for Euro exchange rates, the mid-market rate is back above 1.17 for the first time in weeks.

Retail sales & mortgages bring some cheer

23 July 2009
Today's mortgage approval figures and retail sales numbers for June were both better than expected, which gave the Pound some strength, in a choppy day on the markets.

Tomorrow's UK GDP figure will be eagerly anticipated - if the nation's income is improving significantly, there may be a spike tomorrow afternoon offering the opportunity to send money abroad more cheaply. If the news is bad, perhaps the Pound will end the week on a low note.