As always, there’s plenty happening

Euro hits 6-month highs as Dollar hits 2-month lows

Some pretty big moves of late…

The Euro has been a winner recently.

EUR/GBP briefly hit 6-month highs late last week before some profit taking kicked in.

Why? Well, that’s less clear.

You could say the Euro is the ‘least worst’ of the majors at the moment.

The UK is struggling with soft economic data and has the highest inflation of the major, developed economies. A bit of political instability isn’t helping the Pound either.

The US Dollar has lost some sparkle too.

It’s sitting around 2-month lows against the Pound.

With lower job creation and inflation in the US, markets now think the Fed will sit tight for a while.

We also note that there is a US election next year and the Fed won’t want to cause a recession (and lose their jobs).

As always, there’s plenty happening.

It’s why exchange rates rarely sit still for long.

So what next, what should you do?

Get ahead of the game and read our Guide to Foreign Currency Exchange.

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Current rates:

Wednesday 15th November 2023 at 10:30

£1.00 GBP = 1.1486 EURO

£1.00 GBP = 1.2470 USD

£1.00 GBP = 1.9150 AUD

£1.00 GBP = 2.0648 NZD

£1.00 GBP = 1.707 CAD

£1.00 GBP = 1.1082 CHF

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