Today’s Exchange Rate Update

The Pound has followed yesterday’s losses with a further drop against major currencies. The Bank of England’s governor Mervyn King spoke of a deep recession in the UK which has dented confidence further in the UK economy, leading to sell-offs for the Pound.

Tomorrow sees the monthly report from the European Central Bank’s, as well as US jobless claims in the afternoon, so it could be another volatile day on the forex markets. For those of you sending money to New Zealand, tomorrow night could also be key with NZ retail sales announced.

Whether you need to send or receive any currency, make sure you have a reliable currency broker working to get you the best available exchange rates.