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Sterling – US Dollar Rate at Three Year High

January 6, 2014 10:03 am Published by

Buy your US Dollars now because Sterling is starting the New Year on a high!

The GBP – US Dollar exchange rate is at its strongest since April 2011 with the pair hovering around the 1.64 mark – great news if you need to buy US Dollars because you won’t be spending as many Pounds!

If you have a US Dollar requirement but do not need the currency straight away, you may want to consider booking a Forward to secure your exchange rate for future use. This means that further down the line when you do need to buy Dollars; you won’t have to pay more for your currency if the market has moved against you.

The London stock market benefited from more growth than expected in 2013 with the UK economy growing around 1.5% and analysts predicting growth of up to 3% in 2014.  This is great news for Britain because it would put our economy ahead of European rivals France and Germany.

How do you think Britain’s economy will shape up this coming year? Let us know your thoughts in the comments below!

 

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This post was written by Kayleigh Driscoll

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