The Pound has jumped to a 1-month high against the US Dollar.
There’s been caution around the Dollar because US interest rate rises are expected to be aggressive.
As for the Pound, it’s meant a rare bright spell against the Dollar.
However, it’s set to be another challenging week for the UK economy – not to mention Boris Johnson.
The fallout from “Party-gate” appears to be gaining momentum in Westminster.
And the cost-of-living crisis is adding pressure to the UK government.
Both could cause fears around the Pound.
On the continent, the Euro also had a good week against the Dollar.
Therefore, the Euro has been relatively steady against the Pound.
Stability is likely to be short-lived though.
With so much uncertainty in the world, currency markets will remain volatile.
If you have a currency transfer in mind, exchange rate movements are so important.
It could be hugely beneficial to speak to your account manager and discuss the timing of your transfer.
Click the link below to get a free quote or call 01872 487 500.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Wednesday 1st June 2022 at 13:00
£1.00 GBP = 1.1738 EURO
£1.00 GBP = 1.2572 USD
£1.00 GBP = 1.7463 AUD
£1.00 GBP = 1.9317 NZD
£1.00 GBP = 1.5886 CAD
£1.00 GBP = 19.5094 ZAR
How to Save Money on your foreign currency transfers