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Is sterling set to slide again?

While the euro has taken centre stage over the last few days, with the ever growing crisis in Greece as well as other Eurozone economies under pressure, sterling has taken a battering on the currency exchanges this week. After a period of relative strength against the euro it looks as though sterling will come under further pressure in the short to medium term as concerns begin to surface regarding the strength of the UK economic upturn, government finances and the short to medium term outlook for the UK as a whole.

Economists appear to be split with regards to their opinions on the UK economy with some believing 2010 will see a year of consolidation from which to build and others suggesting that 2010 could in fact be the second stage of a double dip recession. This is clouding the minds of many consumers and many business leaders in the UK and sentiment in these two areas in particular has come under pressure of late. Investors are also concerned about the ever growing UK budget deficit, after January's worst deficit on record, with the Labour Party and the Conservative party offering very different views regarding the tackling of this issue.

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