Sterling suffers huge loss against all major currencies - Britain to become bankrupt??

Since my last post Sterling has taken a huge tumble against all major currencies, yesterday the Pound took its biggest hit since 1992 against a basket of major currencies losing over 3% against the Euro and the Dollar...... For those of you that do have an upcoming trade to do i'm afraid that things are not set to be geting any better in the near future unless we see some surprising new being released.

Jim Rodgers - Chairman of Singapore based Rodgers Holdings and a major player in the money markets yesterday said on Bloomberg Television...

"I Would urge you to sell any Sterling you might have"

This is one of the contributing factors to the losses seen yesterday alongside news that inflation has dropped and with official figures due out on Friday that the U.K is now in a recession.

Today has seen more of the same and at the time of writing this report Sterling had made a 1.33% loss over the Euro and 1.2% loss over the Dollar.

Sterling has generally lost ground against every currency over the past few days so if you have a transfer to do - no matter which currency it is to and how much you are looking to transfer do not hesitate to get in touch with me by clicking the link below and I will be happy to assist.

This is a brief summary of todays report. Click here to read the full report on our main website

If 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 Me




Have a great day and thanks for reading!

Daniel Wright