The Pound got an unexpected lift this week.

It was a bad news equals good news thing.

Investors have been anticipating a cut in UK interest rates could be possible given that inflation has been dropping considerably.

In fact, money markets had been pricing in that the first cut could come as early as May next year.

However, the Bank of England is having none of it.

The party poopers at Threadneedle Street made some pretty dour statements, including the surprisingly clear “it is far too early to be thinking about rate cuts”.

It’s given the Pound a shot in the arm (higher rates equals higher currency).

The Pound has been struggling against the Euro recently, but this latest news managed to break the downtrend.

Against the US Dollar, the Pound already had upward momentum and now sits near 2-month highs.

So what next, what should you do?

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

Download the Guide Here - with no obligation of course.

There’s always something brewing in currency markets.

It pays to be alert to news and events.

If you would like to speak to a member of our team, call us on 01872 487 500.

To find out the latest rates, click below.

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Current rates:

Wednesday 22nd November 2023 at 09:45

£1.00 GBP = 1.1490 EURO

£1.00 GBP = 1.2534 USD

£1.00 GBP = 1.9116 AUD

£1.00 GBP = 2.0778 NZD

£1.00 GBP = 1.7182 CAD

£1.00 GBP = 1.1078 CHF

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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