Savvy investors take advantage of slide in Sterling

Trading EUR/GBP accounts for 14 per cent of trades on Barclays Stockbrokers Spot FX platform for December to date.

Commenting on the slide of sterling against the Euro, Barbara Ann-King, Head of Proposition, Barclays Stockbrokers said: "With sterling falling to its lowest-ever level against the Euro, Barclays Stockbrokers have seen a shift in client sentiment for trading this currency pair. In December so far over 14 per cent of all trades on our Spot FX trading platform, have been in EUR/GBP, compared to only three per cent in November, and five per cent in 2008 so far. This shows clients have looked to profit from the continued run on the pound and sell during the current weak economic climate in the UK.

"GBP/USD (cable) and EUR/USD normally dominate the trading activity of our clients but the unprecedented conditions affecting Sterling has allowed our clients to speculate from these falls and profit from the relative strength of the euro versus sterling."