Firms who make regular payments overseas in order to trade with companies abroad may be more keen than usual to secure the best foreign exchange rates after sterling fell this morning (September 2nd).

Reuters reports the UK currency slumped by 0.4 per cent against the dollar after poor British housing data emerged.

It also gave away a 0.2 per cent advantage to the single European money by 07:30 BST.

"Sterling is in a vulnerable position. It's been supported against the dollar by a fragile rebound in equities this week, but I am cautious [as] to the sustainability of any sterling rebounds," Ian Stannard, senior currency strategist at BNP Paribas, tells the news source.

In order to maximise profitability, UK businesses may wish to enlist the services of Axia FX in a bid to access the most favourable foreign exchange rates on the market.

It is the second significant fall for sterling versus the dollar in a week, following last Friday's drop to $1.5502, noted by Reuters.

If you are a journalist or news editor and think we can assist you in developing your next story, learn more about the Foreign Exchange industry or if you have any marketing and public relations related questions please contact:

Omar Hadjel – Marketing Manager
T: +44 (0) 20 7093 7853 – E: omar.hadjel@axiafx.com