UK Economy Gathering Pace (Tom Holian)

According to data released by the British Chamber of Commerce the UK economy is gathering momentum. Companies in the services sector saw their fastest rise in orders since 2007. Also, the manufacturing sector saw the best rise since the early 1990s.

It is therefore likely at some stage that the BCC could improve its forecasts for 2014 which in theory could help Sterling exchange rates going forward. With unemployment dropping and UK house prices rising things are looking rather positive for both the UK and Sterling in the last few weeks.

With GBPEUR exchange rates having recently touched on 1.20 on occasion the markets have corrected themselves somewhat since this time a week ago. My feeling is that we’ll see another run for the Pound until the US gvoernment shutdown sorts itself out. My reasoning is that investors are using Sterling as a safe haven currency whilst the instability continues in the world’s leading economy.

Looking into the Eurozone there is a very interesting article on the BBC website about Greece’s potential exit from recession next year  so feel free to click on the link for further information

For further information about how to save money when buying Euros or selling Euros then feel free to contact me directly via email Tom Holian [email protected]