After a few wobbly weeks, the Pound has regained momentum.
Against the US Dollar, GBP is sitting at 3-month highs and is within a whisker of 3-year highs.
While the current trend against the Euro is not as obvious, the Pound is right near the top end of its 1-year range.
Recently the Pound has benefited from data showing the UK economy is rebounding strongly.
The same can’t be said for the Euro, which has been weighed down by the fact that the Eurozone bloc slipped into a double-dip recession in the first quarter of this year.
While COVID news in the UK continues to be positive, we think the upside is already priced into the Pound. If anything, the Pound may be at risk due to growing concerns over the spread of the Indian variant of the coronavirus.
In contrast, the European vaccine programme has a long way to go – which sounds negative – but actually leaves plenty of upside for the Euro ahead.
So when should YOU Exchange your money?
We appreciate it’s never easy to decide on the right time to exchange your money.
There’s always an excuse to defer.
However, with all the uncertainty that lies ahead, you may consider locking in an exchange rate.
It will allow you to make firm plans, budget more effectively, and give you one less thing to worry about.
To speak to a trader, call us on 01872 487 500.
Or to find out our latest rates, click below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Wednesday 19th May 2021 at 10:25
£1.00 GBP = 1.1606 EURO
£1.00 GBP = 1.4177 USD
£1.00 GBP = 1.8263 AUD
£1.00 GBP = 1.9668 NZD
£1.00 GBP = 1.7119 CAD
£1.00 GBP = 19.8888 ZAR
How to Save Money on your foreign currency transfers