What’s driving exchange rates right now?

Investors are looking beyond Covid…

Most of the recent news about exchange rates is centred on politics or the economy.

In the UK, there is an immediate risk from the Scottish elections.

Talk of another Scottish referendum would be extremely damaging for the Pound.

In Europe, economic sentiment is at its highest level since September 2018, despite the threat of a third Covid wave.

And in the US, a string of positive data, including GDP growth and falling jobless claims, has given the Dollar a boost. The Federal Reserve is even considering an interest rate rise as the US economy could overheat.

Basically, there are signs of recovery across the board.

Currencies have gone from a race to the bottom to a race back up.

One thing’s for sure – the news never stops – which means exchange rates never sit still for long.

Make sure any upcoming transactions are protected against the risks of sudden market movements.

Call us on 01872 487 500 to discuss your requirements and levels to aim for.

Or to find out our latest rates, click below.

Thanks For Reading, What Next?

• To discuss Exchange Rates and Your Currency Options, please contact our trader today on 01872 487 500.
• Need to Trade Your Currency soon, then request a free quote and we’ll look after you from there.

Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Wednesday 5th May 2021 at 13:45

£1.00 GBP = 1.1591 EURO

£1.00 GBP = 1.3905 USD

£1.00 GBP = 1.7979 AUD

£1.00 GBP = 1.9334 NZD

£1.00 GBP = 1.7067 CAD

£1.00 GBP = 20.0705 ZAR

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