Pound drops sharply on rate cut

The Pound has copped a bit of a hammering this week…

The rate cut by the Bank of England was the culprit.

It was the first cut in 4 years.

Note – lower interest rates tend to weaken a currency.

Financial markets are predicting there is a 75% chance the Bank of England will cut rates again in November.

But that might be all that happens for a while. The Bank of England is still very cautious – inflation is a tough beast to tame.

The Bank’s own documents show they expect interest rates to still be up at 3.5% in 3 years’ time.

And there are plenty of signs the UK economy is gathering a bit of speed – which could fuel inflation and prevent more cuts.

For now, the Pound has to take it on the chin. It was coming, it was just a case of when.

Interest rates decisions are likely to be a key driver of exchange rates for the remainder of 2024.

The US could be next to cut – they’ve dropped plenty of hints.

And the EU is expected to cut again in September.

It’s why it’s always important to keep up-to-date with the latest news and events.

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.

If you would like to discuss your situation, we are happy to help.

Please do get in touch on 01872 487 500.

To find out our latest rates, click below.

1. Great exchange rates
2. Quick and easy transfers
3. No transfer fees
4. Expert help and guidance
5. Authorised by the FCA

Current rates: 

Wednesday 7th August 2024 at 10:00

£1.00 GBP = 1.1635 EURO

£1.00 GBP = 1.2700 USD

£1.00 GBP = 1.9370 AUD

£1.00 GBP = 2.1120 NZD

£1.00 GBP = 1.7470 CAD

£1.00 GBP = 1.0910 CHF

• Want to Learn More?

• We have created a selection of Free PDF Guides for you to download covering many aspects of buying property abroad, visit our PDF Guides Page today or download our "Buying A Property in France" Guide PDF document.

• Want to Live in France Post-Brexit? download our "PDF Guide to Living in France Post-Brexit" document.

  

• Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

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.
• All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

For everything you need to know about French property visit www.clefrance.co.uk

Some big news due out this week

Your Weekly Update…

Key News: Bank of England rate decision tomorrow

We have significant interest rate announcements from the US Federal Reserve and the Bank of England.

Both decisions hang in the balance.

The US Fed goes first later today. The most likely scenario is they will plant the seed for a cut in September.

Then on Thursday the Bank of England meets.

While most economists have predicted a 0.25% cut, the futures markets indicate a 45% chance of a cut.

With UK inflation back to 2% target levels, it’s not a crazy call to cut. And they are already in good company with the EU and Canada having cut in recent months.

Bear in mind, interest rate cuts generally weaken a currency.

If you don’t want to take the ‘event risk’, you can lock in a rate beforehand.

Sometimes market reactions don’t pan out as expected because it also depends greatly on what is said to the press after the meeting.

In terms of trends, GBP/USD has been drifting down for the past fortnight.

As for GBP/EUR, it’s been a choppy affair recently – albeit the rate remains near 2-year 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.

Let us help you make the most of your money.

If you have upcoming requirements, please do get in touch so we can look out for a favourable time to exchange your money.

To speak to us, please call 01872 487 500.

Or to find out our latest rates, click below.

1. Great exchange rates
2. Quick and easy transfers
3. No transfer fees
4. Expert help and guidance
5. Authorised by the FCA

Current rates: 

Wednesday 31st July 2024 at 11:45

£1.00 GBP = 1.1885 EURO

£1.00 GBP = 1.2840 USD

£1.00 GBP = 1.9760 AUD

£1.00 GBP = 2.1700 NZD

£1.00 GBP = 1.7770 CAD

£1.00 GBP = 1.1305 CHF

• Want to Learn More?

• We have created a selection of Free PDF Guides for you to download covering many aspects of buying property abroad, visit our PDF Guides Page today or download our "Buying A Property in France" Guide PDF document.

• Want to Live in France Post-Brexit? download our "PDF Guide to Living in France Post-Brexit" document.

  

• Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

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.
• All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

For everything you need to know about French property visit www.clefrance.co.uk

Let us help you make the most of your money

Your Weekly Update…

We’ve had a little lull in the Pound after last week’s records.

I suggest it’s nothing more than a bout of profit taking.

The medium-term trends are still positive for GBP/EUR, GBP/USD, GBP/CAD and GBP/NZD.

If you didn’t already know, the Pound is the best-performing major currency of 2024.

This is a mixed blessing.

It’s largely due to expectations that UK interest rates will remain higher than those elsewhere.

Speaking of which, the Europeans have already cut rates in June and are expected to cut again in September.

In the US, rate cuts are “getting close”, with 1-3 cuts expected before year-end.

The UK may have to wait a while with inflation proving a little stubborn and public sector pay rises likely to add more fuel to the fire.

As always, volatility brings risk and opportunities.

A great opportunity for those converting Pounds into a Foreign Currency.

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.

Let us help you make the most of your money.

If you have an upcoming requirement, please get in touch so we can keep an eye on rates for you.

If you would prefer to lock-in a rate and avoid the uncertainty, then please get in touch.

You can call us on 01872 487 500.

Or click below for our latest rates.

1. Great exchange rates
2. Quick and easy transfers
3. No transfer fees
4. Expert help and guidance
5. Authorised by the FCA

Current rates: 

Wednesday 24th July 2024 at 10:00

£1.00 GBP = 1.1905 EURO

£1.00 GBP = 1.2900 USD

£1.00 GBP = 1.9555 AUD

£1.00 GBP = 2.1765 NZD

£1.00 GBP = 1.7790 CAD

£1.00 GBP = 1.1470 CHF

• Want to Learn More?

• We have created a selection of Free PDF Guides for you to download covering many aspects of buying property abroad, visit our PDF Guides Page today or download our "Buying A Property in France" Guide PDF document.

• Want to Live in France Post-Brexit? download our "PDF Guide to Living in France Post-Brexit" document.

  

• Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

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.
• All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

For everything you need to know about French property visit www.clefrance.co.uk

Rate Alert: Pound hits 23-month high today

A quick heads up for you…

The Pound just keeps hitting those milestone highs.

- Pound to Euro sits at 23-month highs
- Pound to US Dollar at 1-year highs
- Pound to Canadian Dollar at 2-year highs

And the Pound is also up strongly against the Aussie, Kiwi Dollar and the Rand.

A great opportunity for those converting Pounds into a Foreign Currency.

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.

If you have an upcoming requirement, please get in touch so we can keep an eye on rates for you.

If you would prefer to lock-in a rate and avoid the uncertainty, then please get in touch.

You can call us on 01872 487 500.

Or click below for our latest rates.

1. Great exchange rates
2. Quick and easy transfers
3. No transfer fees
4. Expert help and guidance
5. Authorised by the FCA

Current rates: 

Wednesday 17th July 2024 at 11:30

£1.00 GBP = 1.1915 EURO

£1.00 GBP = 1.3040 USD

£1.00 GBP = 1.9320 AUD

£1.00 GBP = 2.1400 NZD

£1.00 GBP = 1.7810 CAD

£1.00 GBP = 1.1570 CHF

• Want to Learn More?

• We have created a selection of Free PDF Guides for you to download covering many aspects of buying property abroad, visit our PDF Guides Page today or download our "Buying A Property in France" Guide PDF document.

• Want to Live in France Post-Brexit? download our "PDF Guide to Living in France Post-Brexit" document.

  

• Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

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.
• All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

For everything you need to know about French property visit www.clefrance.co.uk

The Exit Polls were just about right.

The UK election panned out as expected

The Pound - it didn’t really move much, it was all phased in anyway.

The Euro - it also found some support as French elections look headed for a hung parliament, calming political risks.

The US Dollar - it has been a bit weaker of late as there is growing pressure on Joe Biden to stand aside and not seek re-election.

Other than that, it would seem we are back to focusing on inflation and interest rates.

I would describe the current trend in GBP/EUR as quite choppy but ultimately range bound.

Whereas, GBP/USD has an upward bias as it’s hovering near 1-month highs.

Summer trading can be more volatile as there’s thinner volumes, so keep an eye out for opportunities.

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.

If you have an upcoming requirement, please get in touch so we can keep an eye on rates for you.

If you would prefer to lock-in a rate and avoid the uncertainty, then please get in touch.

You can call us on 01872 487 500.

Or click below for our latest rates.

1. Great exchange rates
2. Quick and easy transfers
3. No transfer fees
4. Expert help and guidance
5. Authorised by the FCA

Current rates: 

Wednesday 10th July 2024 at 14:00

£1.00 GBP = 1.1830 EURO

£1.00 GBP = 1.2805 USD

£1.00 GBP = 1.8990 AUD

£1.00 GBP = 2.1070 NZD

£1.00 GBP = 1.7445 CAD

£1.00 GBP = 1.1505 CHF

• Want to Learn More?

• We have created a selection of Free PDF Guides for you to download covering many aspects of buying property abroad, visit our PDF Guides Page today or download our "Buying A Property in France" Guide PDF document.

• Want to Live in France Post-Brexit? download our "PDF Guide to Living in France Post-Brexit" document.

  

• Need to Send Money Abroad?

  • At Clé France / Key Currency, many of our customers have a need for currency exchange.
  • We are pleased to offer our customers favourable exchange rates on international currency transfers.
  • As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

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.
• All client funds are held in segregated accounts with top-tier banks keeping your money safe and secure.

For everything you need to know about French property visit www.clefrance.co.uk