Pound makes gains following growth figures this morning (Daniel Wright)

GBPUSD Surges as Dollar Weakens Across the Board

Sterling has had a fairly solid day against most major currencies after growth figures released this morning confirming that the economy had grown a little more than expected during the second quarter of 2015.

The U.K has indeed now seen 10 consecutive quarters of economic growth and chancellor George Osbourne has also commented that the economy is indeed ‘motoring ahead’.

This is great news for those looking to buy foreign currency in the coming weeks and months but also a little worrying for anyone with currency to exchange back into Sterling at some point soon.

Tomorrow is the next big point of note for the markets as we have the Federal Reserve interest rate decision due out in America at 7pm BST and this can have an impact on all major currencies as it has an affect on global attitude to risk. Should we even see the hint of an interest rate change coming up for the States the Dollar may gain strength and markets may well move around quite a lot overnight.

There are contracts that we offer that can help protect you from adverse market movements or to take advantage of a spike in your favour without needing to be available 24 hours a day. Feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to have a no obligation and confidential discussion to explain how I may be able to help you.