Pure FX Track the Volatile Sterling Exchange Rate

Sept. 25, 2009 - PRLog -- Buckinghamshire, UK -- Pure FX are a specialist firm offering cost effective currency transfer services. They now draw your attention to recent acute fluctuations in Sterling exchange rates.

In August the value of the pound was weakened after the Bank of England injected £50 billion into the UK economy as a quantitative easing measure against the recession. This month so far it has regained value but it is thought the large level of national debt will curb recovery long term.

Positively however, mortgage approvals have increased and the services sector Purchasing Managers Index (PMI) came in at 54.1 - up from 53.2 in July. A reading over 54.0 is needed if Sterling is to avoid being the worst performing G10 currency for the second successive month.

Moreover, the business expectations index recorded its highest reading since August 2007 coming in at 72.3 for August - up from 69.3 in July.Lending fell however in July at its sharpest rate since 1993 and UK manufacturing PMI contracted, leading to a sharp sell-off in sterling putting Sterling under yet more pressure.

Sterling seems likely to remain within its recent trading range, albeit a broad one, as there is little to suggest a significant movement in the short-term. Private and corporate clients can however maximise the value of funds exchanged by using Pure FX, who offer exclusive fixed rates which provide a stable platform for any transaction - a valuable service considering recent currency flux.

“The UK economy is still in disorder and with exchange rates directly affected by market trends you could end up losing out when you exchange,” says James Roberts of Pure FX. “We offer you a safety net ensuring you get the best exchange rate, particularly when exchanging large sums.”

To find out more about Pure FX and their services please visit http://www.purefx.co.uk/ or contact them on 01494 671800.

About Pure FX:
Pure FX specialise in providing foreign exchange and international payment solutions for both private and corporate clients. Their range of services benefit clients in many ways - fixed exchange rates, zero commission and risk management all aid clients in getting the most from their money.

Contact :
James Roberts
11 Windsor End
Beaconsfield
Buckinghamshire HP9 2JJ
+44 (0) 1494 671800
pr@clickconsult.com
http://www.purefx.co.uk/