Pound declining against USD

The pound has been declining against the USD since late January. Reports yesterday imply that this may just be the beginning, as weak economic data and low levels of business investment in the first months of 2010 impact on traders and investors view of the pound’s strength.
Some analysts are even concerned that the UK may be entering a second dip of the recession.
So, with the potential for the pound to decline against the dollar further, I would buy my American travel money now before the currency exchange rate worsens!

Are things looking up for the pound?

Around USD 8bn has been bet against the Euro in recent weeks, as investors and traders fear the Greek budget crisis will infect other Euro nations. This lack of faith has been reflected in the decline in share prices of several major European banks.

To date, the Euro has fallen most against the dollar and the yen, but the pound may start to see some impact in the coming weeks if trader sentiment does not improve. Monitoring the foreign exchange rates will help identify the best time to buy euros, with the potential for some better rates in the near future.