Commenting on the Pound’s further gains against the Euro, Stephen Heath, Chief Executive of FairFX.com, said: “The Pound has rallied amidst news of the base rate cut, gaining one per cent against both the Euro and the Dollar. The Pound is now trading at €1.1211 and $1.5232 to £1 – and it is expected to claw back further gains in the coming months as Europe and America start to look as vulnerable as rival economies.”

Thursday 08 January 2009, 01:34pm

Tags: dollar exchange rates, dollar rates, euro rate, euros, exchange rates, interest rate, interest rates

Commenting on Sterling’s increasing weakness against the US Dollar and Euro, Stephen Heath, Chief Executive at FairFX.com, said: "It was an horrific start to the week for the British currency, as the pound sank further against the greenback on Monday alone than at any time in the past 15 years. Many market players held the collapse of Bradford and Bingley solely responsible.

"As the pound collapsed from $1.84 to $1.79, a fall of 2.7 per cent, the Bank of England started to face growing pressure to cut interest rates ahead of the MPC meeting in October. However, it is too early to say whether rates will be cut; at the moment it seems a rate cut is likely, but this could change in the blink of an eye. All we really do know is that a rate cut would not do any favors to the sinking Pound."

Wednesday 08 October 2008, 09:47am

Tags: interest rates, opodo, pound, pound weakness, sterling