Stormy markets improve rates for GBP

29 October, 2012

Robin Haynes

Last week saw some respite for the Pound at last, as Thursday’s GDP figures confirmed that the UK economy is out of recession, and on Friday we saw a very negative report published by the IMF concerning Greece’s (lack of) ability to repay its debts. The Euro weakened, giving us the best rates for buying the single currency since the beginning of the month.

This week we have a lack of important scheduled data, but with the upcoming US Presidential election. continued debt negotiations in Greece & Spain, and an increasingly unstable political situation in the UK, there should be enough to keep the markets busy.

In the USA, hurricanes may be making the headlines, but behind the scenes we have the main monthly labour market figures released on Friday. The non-farm payroll figure is often a major mover of the US Dollar, so do let us know if you are looking to buy or sell dollars and would like to be kept up to date with any spikes in rate.

For those of you buying Swiss Francs, we have retail sales there on Thursday, and recent moves have given us the best rates for sending payments in Swiss Francs for a couple of weeks. The Pound’s slight resurgence last week has also improved rates for many major currencies around the world, for the latest news and rates please contact your Currency Index account manager.