No one mention the B word

Today's Currency Market Focus

GBP: No one mention the B word
EUR: Tricky times
USD: Donald’s not happy

Click for a Quick Quote

GBP: No one mention the B word

The Pound has recovered in the last few sessions, helped along by a lack of news on Brexit.

That could be about to change as the British Brexit minister, Dominic Raab, has been in Brussels this week trying to break the ‘No Deal’ deadlock.

It already seems likely that the October deadline to agree a deal will be missed and therefore result in an emergency EU summit in November.

We see the current rally as temporary with investors taking advantage of Pound weakness given its recent poor run.

EUR: Tricky times

Like the Pound, the Euro has come under significant pressure recently, but for different reasons. This week, it too is enjoying a mini-rally.

However, while the Pound is focused on a single issue (Brexit), the Euro faces risks on multiple fronts. Turkish Lira depreciation, US-China trade tension and Italian budget blow-outs are all simmering in the background.

It makes the Euro a tricky currency to trade right now.

USD: Donald’s not happy

The Dollar continues to drift lower after its monster multi-month rally.

Donald Trump upset the applecart yesterday saying he was “not thrilled” with the Fed raising rates.

The Fed Chairman, Jerome Powell, is relatively new to the hot seat and Trump doesn’t like what he’s seeing so far. Let’s not forget that Trump made his fortune in highly leveraged property investments and is on record as saying he’s a “low-rate guy”.

Investors and President Trump will be keeping a close eye on the latest Fed minutes due out later today.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please request a free quote and we’ll look after you from there.

Have a great day,

Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates:

Wednesday 22nd August 2018 at 17:50

£1.00 GBP = 1.1139 EURO

£1.00 GBP = 1.2913 USD

£1.00 GBP = 1.7573 AUD

£1.00 GBP = 1.9285 NZD

£1.00 GBP = 1.6608 CAD

£1.00 GBP = 18.3428 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.