Corporate foreign exchange news

Published by Zeb BhamThe pound will find support this week amid expectations of a return to growth in the fourth quarter of 2009, analysts predict.According to Daily FX strategist John Rivera, traders will also this week be looking closely at fundamentals for clues as to whether the Bank of England will vote to increase its asset purchase programme when it meets at the beginning of next week.Revisions to Q3 output figures made the case for keeping the stimulus programme on hold last week and this week, stronger consumer credit and mortgage approval figures, as well as improved house price data, are expected to add support for a more hawkish policy stance.Manufacturing data due out on Tuesday (December 1st) will also be keenly watched for tentative signs of recovery.However, in a forward-looking statement, Bank of England governor Mervyn King stated: "The availability of credit to households and companies will be impaired. That, combined with the uncertainty about future incomes and profits, will make households and companies reluctant to spend."For more information on foreign exchange treasury services and risk management, visit our Corporate FX site