Clé France

UK recession risk looms over the Pound

The UK looks to be drifting towards recession.

Pressure grows as inflation continues to soar to levels not seen in 40 years.

To make matters worse, real wages are falling at the fastest pace on record.

As a result, the Pound hit a 16-day low against the Euro last week.

Things look tough for the Pound, but the Eurozone also has its problems.

Europe is facing reduced gas supplies from Russia which could cause a full-blown energy crisis.

Elsewhere, the US Dollar remains in a stronger position.

The US is seeing faster improvement in curbing inflation, which is steadying the Dollar.

Volatility in currency markets looks set to continue with so much global economic uncertainty.

So what next, what should you do?

If you have a currency transfer in mind, guidance from your account manager could be crucial.

We are always on the look-out for the opportunities and risks that lied ahead.

Get a free quote below or give us a call on 01872 487 500.

Current rates: 

Wednesday 17th August 2022 at 09:15

£1.00 GBP = 1.1892 EURO

£1.00 GBP = 1.1086 USD

£1.00 GBP = 1.7333 AUD

£1.00 GBP = 1.9147 NZD

£1.00 GBP = 1.5562 CAD

£1.00 GBP = 199271 ZAR

• Want to Learn More?

• We have created a selection of Free PDF Guides for you to download covering many aspects of buying property abroad, visit our PDF Guides Page today or download our "Buying A Property in France" Guide PDF document.

• Want to Live in France Post-Brexit? download our "PDF Guide to Living in France Post-Brexit" document.

  

• Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

How to Save Money on your foreign currency transfers

• Key Currency can save you money by offering more competitive rates of exchange than your bank.
• Clients can typically save you 3-4% of the total transaction value, which can result in significant cost savings.
• All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

• For everything you need to know about French property visit www.clefrance.co.uk