http://www.purefx.co.uk View the latest news entries below. For archived market news articles or to view all news items, please visit our website. en-gb Copyright 2010, PureFX Wed, 10 Mar 2010 19:36:52 GMT 20 http://www.purefx.co.ukgraphics/elements/rsslogo.gif http://www.purefx.co.uk Despite an upward revision of Q4 GDP sterling has lost considerable value against most currencies. The UK economy is estimated to have grown by 0.3% for the 4th quarter compared with Whilst the Christmas champagne may be a little flat by now, we learned a couple of weeks ago that the UK is finally out of recession, which might be The final figure for Q3 GDP was released in December and unfortunately for sterling the UK economy contracted -0.2% causing the pound to weaken on the day. The market expectation Whilst the UK is the last remaining major economy still in recession the latest figures show GDP contracted by 0.3% which is 0.1% less than first thought. Also, earlier in the month Bank of England kept interest rates on hold at 0.5% and introduced an additional October was a mixed bag for sterling as reports early in the month suggested a weak pound in the run-up to Christmas with the Telegraph talking about If we are to believe recent business surveys then the recession in the UK appears to be coming to an end, and most economists are predicting modest growth in Q3. As you will be aware the Bank of England This first week of September has seen sterling claw back some of the losses sustained in August. Unfortunately, the pound weakened sharply early last month following an announcement from the BoE (Bank of England) that In our last report monthly report we mentioned the recession in UK could be W rather than V shaped, which I know is a little technical but this will effect the value of sterling in the currency exchange markets. For example last week Brazilian footballing hero, Kaka, recently transferred to Real Madrid for an astronomical £56m and there was indecision as to whether this represented a record fee due to the currency exchange market. The pounds strength in the currency exchange market has dropped since the previous record transfer of Zidane. The strength and weakness of a currency is invariably intrinsically linked to the strength of their property market and recent positive signs surrounding the UK property market has given sterling a boost in the foreign currency exchange markets.