Yesterday's trading saw A fairly negative day for Sterling in general..... not great news for anyone needing to send money overseas.
The movement looked to be mainly down to the quarterly inflation report announced by the governor of The Bank Of England Mervyn King at 10:30am yesterday.
Mr King had mentioned that he believes that economic recovery in the U.K will be "slow and protracted" .
Any negative news like this will generally have a negative effect on the value of Sterling as the markets do move every two seconds and work on rumour as well as fact, so if the head of the BOE believes we are in for a rocky ride then investors will instantly lose confidence in the Pound.
This is a brief summary of todays report. Click here to read the full report on our main websiteIf you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email MeHave a great day and thanks for reading!
Daniel Wright
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