Has Pound Sterling hit the top?

Last week we had an unexpected 0.5% rate hike from the Bank of England.

Usually news like that would give Pound Sterling a massive lift.

Instead, it provided only a short-lived bounce.

Since then, the Pound has been drifting sideways against the Euro and US Dollar.

Often it’s a sign of a top if a currency can’t sustain a rally. It literally fizzled out in an hour.

One thing’s for sure - currency markets are hyper-sensitive to inflation data right now.

Just look at what’s happening with GBP/AUD.

Today Australia announced inflation fell more than expected and the Aussie Dollar hit a 2-year low against the Pound.

We know the UK is battling higher inflation than peers, but should inflation relent, we would expect the Pound to give up its recent gains very quickly.

With that in mind, anyone looking to sell GBP and buy Dollars or Euros can still take advantage of current rates.

So what next, what should you do?

As always, we are on the look-out for the best opportunities.

To discuss your requirements, you can speak to us on 01872 487 500.

Click below to get the latest rates.

Benefits of using Key Currency:

Great exchange rates
Quick and easy transfers
No transfer fees
Expert help and guidance
Authorised by the FCA

Current rates:

Wednesday 28th June 2023 at 10:15

£1.00 GBP = 1.1602 EURO

£1.00 GBP = 1.2711 USD

£1.00 GBP = 1.9145 AUD

£1.00 GBP = 2.0854 NZD

£1.00 GBP = 1.6800 CAD

Want to Learn More?
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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.
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