Sterling jumps to 3-week high

Some big market moves so far this week.

Pound Sterling has shot up to 3-week highs against the Euro.

The release of robust jobs data in the UK has got investors thinking the Bank of England will need to raise interest rates in December – which I might add is only just around the corner.

It would mean the Bank of England would be the first major central bank to raise rates since Covid.

As for the Euro, there is little chance of a rate rise any time soon.

There are currently fears of more widespread lockdowns throughout Europe, driving negative sentiment on the Euro.

In short, this week there’s been good news for the Pound and bad news for the Euro – hence the sudden shift in the Pound to Euro exchange rate.

Meanwhile, across the pond, US inflation is running red hot. The US just reported inflation at 31-year highs!

This is lifting the value of the Dollar – which is why the Pound is hovering near 11-month lows against the US Dollar.

It wasn’t that long ago that the Dollar was in the doldrums.

You can never be complacent about exchange rates.

Things change quickly in this volatile world.

Whatever your currency requirements, please make sure you speak with a member of the Key Currency team on 01872 487 500.

We will endeavour to provide you with the best strategy and solution for your situation.

To find out our latest exchange rates, click on the link below.

Thanks For Reading, What Next?

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Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates:

Wednesday 17th November 2021 at 09:50

£1.00 GBP = 1.1870 EURO

£1.00 GBP = 1.3430 USD

£1.00 GBP = 1.8451 AUD

£1.00 GBP = 1.9175 NZD

£1.00 GBP = 1.6876 CAD

£1.00 GBP = 20.9105 ZAR

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