Exchange Rates Up on Bank of England cut

Exchange rates for Euros, Dollars and many other currencies are up this afternoon – the Bank of England cut UK interest rates, but only by 0.5%, giving the Pound a welcome boost on top of this morning’s news that house prices were up in January.

The UK is still heading for a deep recession but some good news means that currency brokers can now offer the best exchange rates seen for some time. This could be a spike in the market, so if you need to send money overseas, have a think about getting a fixed exchange rate now.