Two important figures out in the UK today have given the Pound a welcome boost. This morning, the trade balance figure showed a defecit of £2.2bn, better than analysts' expectations of £2.75bn. Then, at lunch time, the Bank of England announced they are not using all the funds made available for quantitative easing, putting off the decision to inject a further £25bn into the economy until August.
Sending money abroad has got cheaper during the course of today as a result, with most exchange rate posting gains of around 1%.
Clients wishing to take advantage of a spike in the market should consider booking a forward contract, which secures a fixed exchange rate for the future.
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