Pound has surprise jump against Euro & Dollar

Here’s a quick summary of what’s happening:

- GBP-EUR & GBP-USD hovering near 3-month highs
- Markets bet on ECB rate cuts
- Bank of England dismissive of any UK cuts

Pound Sterling is maintaining its strength as traders believe the Bank of England will be the last to cut rates.

Bank of England Governor Andrew Bailey dismissed the idea of rate cuts as “not happening”.

The Eurozone’s inflation rate has fallen to 2.4%, only marginally above the 2% target.

In the USA, the Fed also seems to be softening its stance.

Fed Governor Christopher Waller, who was previously pushing to higher rates, now says they could start lowering US interest rates in 3-5 months.

Anyway, the bottom line is the ‘policy divergence’ is good news for Sterling.

Buyers of Euro and Dollars might want to take advantage.

So what next, what should you do?

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

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You can call us on 01872 487 500 to discuss rates and timing.

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Benefits of using Key Currency:

1. Great exchange rates
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Current rates: 

Wednesday 6th December 2023 at 09.30

£1.00 GBP = 1.1674 EURO

£1.00 GBP = 1.2604 USD

£1.00 GBP = 1.9169 AUD

£1.00 GBP = 2.0493 NZD

£1.00 GBP = 1.7119 CAD

£1.00 GBP = 1.1025 CHF

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