Dubai world and U.K bank ties lead to Sterling weakness over past 24 hours

The FTSE 100 tumbled 3 percent yesterday, this follows news that the investment company Dubai World has asked its creditors for an extension to repay its debts, which amount to £35Billion until 2010; for those readers who don’t know Dubai World is an investment company that manages and supervises a vast number of businesses and projects for the Dubai Government.

Dubai world is seen as a key element in the rapid expansion of Dubai’s economy and some analysts have speculated that this will expose the British banks to the debt problems in Dubai. Although this exposure has yet to be confirmed the potential risk involved has impacted Sterling. Dominique Strauss-Khan the managing general of the International Monetary Fund stated that ‘global banks had only worked their way through half of their toxic assets since the break of the banking crisis’ and Gavin Friend, currency strategist at nabCapital said sterling had been "disproportionately hit" by the shock debt request from Dubai.

This has hit the Pound as many U.K banks may well be involved in this potential nightmare so if you do have an upcoming request any future announcements could lead to further losses.

THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

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I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR
Have a great day and thanks for reading!

Daniel Wright

Three way split on QE leads to Sterling weakness

The Pound has had a terrible day on a trade weighted basis today, mainly due to worries on the Bank of England's future views on quantitative easing alongside other information released in the minutes.

At the time of writing this post Sterling had dropped by 1.12% against the Euro 0.37% against the Dollar and 1.14% against the Swiss Franc to list just a few currencies of note.

Once again if you do have an upcoming transfer to make it may be prudent to seriously consider your options which include a forward contract, stop loss and limit orders - these can be fantastic tools to assist you with maximising your rate.

Do feel free to get in touch with me if you are unsure as to what these are and how they work.

THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

Have a great day and thanks for reading!

Daniel Wright

Pound Sterling makes early morning losses ahead of BOE minutes - All eyes on quantitative easing - GBP EUR USD AUD NZD CHF SEK ZAR

This morning sees the release of the Bank of England minutes at 09:30am and could have a big impact on the strength of Sterling depending on what is mentioned.

Most investors and analysts will have a keen eye on the mention of any further quantitative easing from the last meeting - should it show that some BOE members were more in favour of further QE last time round then it may well lead to Sterling weakness as the markets move on rumour as well as fact and more money being pumped into the economy is generally seen as negative for the Pound.

On the other side of things - Should it become clear this morning that there was more of a feeling that QE should now come to an end for the time being at least then Sterling may well find some serious strength as this will be seen as really positive news for the U.K and indeed for Sterling.

In other news keep a close eye on the currnt situation with the potential Cadburys takeover - when Kraft pulled out just over a week ago this led to quite sharp Sterling weakness however a couple of new companies are now considering offers in the large U.K company.

THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

Have a great day and thanks for reading!

Daniel Wright

Bank of England minutes bring Sterling strength against all major currenices - EUR USD AUD NZD CAD SEK JPY

The bank of England minutes have bought Sterling strength across the board this morning which is refreshing news for those of you with upcoming requirements to send money overseas, and terribly frustrating for those that are due to bring funds back as the possibility of 'missing the boat' on the lower levels may have now become a reality.

BOE governor Mervyn King has even been saying slightly more positive words regarding the U.K of late so we could well see further gains over the course of the day.

This is a brief summary of todays report, should you wish to know more email me directly or click bolw to read the latest update on our website. Email Me
I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

Have a great day and thanks for reading!

Daniel Wright