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FairFX: Sterling is holding its ground against the euro.

Pre-paid currency card provider FairFX has stated that the sterling is currently holding its ground against the euro.

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10 November 2009

FairFX: Sterling is holding its ground against the euro. ”

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It also noted that a more positive note for UK economic growth is expected by analysts this week when the Bank of England publishes its quarterly inflation report and following the extension of the bond purchase programme by just £25 billion last week.

Rishi Patel, head of FX trading at FairFX.com, added that the US dollar, meanwhile, is trading lower across the board.

The head of FX trading noted that traders are backing the Australian dollar, euro and sterling over the US dollar.

"The Federal Reserve is expected to keep interest rates low for some time which will keep the pressure on the US dollar," Rishi Patel added.

Those looking to lock into currency rates prior to a trip abroad could consider investing in a prepaid currency card from FairFX, CaxtonFX or MyTravelCash.

This could also save travellers money on currency exchange in comparison to using a bureau de change last minute at the airport, which can often work out much more expensive.

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