Pound falls further on Budget

28 July, 2011


The Pound has come under renewed pressure after the UK budget predicted the worst year for the British economy since 1945.

Euro exchange rates are 2c lower than at the start of this morning.

Growth forecasts have been revised down, borrowing is far higher than anticipated, and tax rises have been announced.

Anyone needing to send money abroad for a property purchase should contact their currency broker to discuss the options. If the market continues to slide, Euro rates of 1.10 or buying dollars above 1.40 do not look like they will last for long.