Pound fluctuates as UK inflation bites

The message is "It’s still a good time for buyers of Euros or Dollars"

But for how long?

This morning the latest inflation data has been released.

UK inflation has come in at 8.7% - much higher than elsewhere.

By comparison, US inflation is down to 4.0% and the Eurozone down to 6.1%.

The Pound’s strength in recent months is because the Bank of England is going to have to remain very tight with monetary policy.

Tomorrow the Bank of England meets again and another interest rate hike is almost a done deal.

But there’s only so much the UK economy can take.

So the outlook for the Pound is less certain over the coming months.

Last week the Pound hit a 14-month high against the US Dollar and a 10-month high against the Euro.

It’s a run that may be hard to sustain.

Over time, the UK is likely to get in sync with its peers and the Pound’s advantage will end.

So what next, what should you do?

The message is it’s still a good time for buyers of Euros or Dollars.

Make sure you get in touch to discuss your currency requirements.

To find out the latest exchange rates, please click below.

Benefits of using Key Currency:

1. Great exchange rates
2. Quick and easy transfers
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Current rates: 

Wednesday 21st June 2023 at 10:45

£1.00 GBP = 1.1638 EURO

£1.00 GBP = 1.2715 USD

£1.00 GBP = 1.8788 AUD

£1.00 GBP = 2.0607 NZD

£1.00 GBP = 1.6819 CAD

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