Today's Currency Market Focus

GBP: One step forward, one step back
EUR: Solid performer
USD: Fed set to raise rates this week

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GBP: One step forward, one step back

The only certain thing about Brexit is its uncertainty. After a bunch of positive noises last week, the process has taken a big step backward after EU leaders rejected Theresa May’s free-trade plan at their summit in Salzburg saying it “will not work”.

Theresa May has admitted the UK and EU remain a “long way apart” on several issues but has asked the EU to put forward their own ideas.

In terms of the economic calendar, it’s a quiet start to the week for the UK but Brexit news is likely to dominate Sterling action anyway.

EUR: Solid performer

The Euro was a solid performer last week despite a run of soft data. The latter half of last week saw French, German and EU data all miss estimates but it was events elsewhere that drove the Euro’s outperformance.

With the Pound hampered by Brexit and the US Dollar undergoing a correction, the EU has regained favour with investors.

In terms of this week, Mario Draghi, President of the European Central Bank (ECB) is due to give speeches on both Tuesday and Wednesday. His remarks tend to be high-impact events for the Euro.

USD: Fed set to raise rates this week

President Trump may not like it, but the Fed looks set to raise rates on Wednesday of this week – which would be for the 4th time since he was elected.

The odds of a hike stand at over 90%, so it looks baked in already, therefore we are not expecting the announcement to be a big catalyst for the Dollar.

Lately, trade tensions with China have overshadowed any US domestic news. While a Dollar correction was long overdue, some analysts have begun to call the bottom, particularly given the US is tightening while just about everybody else is sitting still.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please 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: 

Monday 24th September 2018 at 10:45

£1.00 GBP = 1.1149 EURO

£1.00 GBP = 1.3124 USD

£1.00 GBP = 1.8044 AUD

£1.00 GBP = 1.9688 NZD

£1.00 GBP = 1.9688 CAD

£1.00 GBP = 18.7408 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

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.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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

Today's Currency Market Focus

GBP: Sterling climbs on Brexit hopes
EUR: Euro up despite sag in confidence
USD: Dollar loses its lustre 

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GBP: Sterling climbs on Brexit hopes

The Pound has continued its comeback this week.

Yesterday the latest UK retail sales figures were well ahead of expectations – more evidence that the UK economy is perking up.

But the bigger news story was Brexit-based. Cabinet Office Minister David Lidington made the astonishing claim that there is a 85-95% chance of getting a deal done with the EU and could be as early as next month.

Of course, that’s just his opinion, but there seems to be some optimism in the air. That may not last if someone in the government now says the complete opposite – something we’ve become accustomed to. With the October and November EU meetings fast approaching, words will need to turn into actions.

EUR: Euro up despite sag in confidence

The Euro recorded a strong session yesterday, trading up nearly 1% against the US Dollar and even overshadowing the rise in the Pound.

It was despite a rather poor reading on EU Consumer Confidence, which came in resoundingly negative.

However, with subsiding fears of global trade wars, the Euro enjoyed a relief rally as it has been hit harder than most.

USD: Dollar loses its lustre

As pre-warned, President Trump went ahead with tariffs on another $200 billion of Chinese goods. The Chinese duly retaliated with tariffs on around $60 billion of US goods. Simple arithmetic shows Trump was the winner of that skirmish.

The tariff rate imposed by the US was 10%. As traders were fearing it would be set at 25%, the news was taken as a positive for US-China relations and as such there was a sell-off in the Dollar (and other safe-haven currencies).

Is that the end of it? Doubt it. Trump has already warned there would be “phase three” if China retaliated and he also has mid-term elections coming up in November – so may want to show the voters who’s boss.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please 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: 

Friday 21st September 2018 at 13:00

£1.00 GBP = 1.1207 EURO

£1.00 GBP = 1.3181 USD

£1.00 GBP = 1.8094 AUD

£1.00 GBP = 1.9732 NZD

£1.00 GBP = 1.7031 CAD

£1.00 GBP = 18.9494 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

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.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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

Today's Currency Market Focus

GBP: White knuckle ride
EUR: Staying out of trouble 
USD: Right said Fed 

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GBP: White knuckle ride

As we warned earlier this week, the Pound’s short-term rally was at risk of Brexit developments. The government has now revealed its no-deal plans and it was enough to spook the markets.

We note from bookmakers that the odds of a no-deal outcome stand at 60% - coincidentally what Liam Fox claimed it was last week.

There is of course hope that both sides buckle as the deadline approaches and a compromise can be reached. But it’s looking like a white-knuckle ride. Needless to say the uncertainty is not doing UK businesses or the Pound any favours.

EUR: Staying out of trouble

Lately the Euro’s moves have been largely dictated by events elsewhere. Yesterday was a case in point with the latest Brexit news and Fed minutes overshadowing the EU economic news.

Despite the lull, the Euro still remains vulnerable to external shocks as there’s a number of risk events lingering in the background.

USD: Right said Fed

Despite President Trump saying he was “not thrilled” with the Fed raising rates, the latest minutes revealed the committee is undeterred and that a September hike is looking likely.

The news was enough to put an end to the Dollar’s five day losing streak.

Meanwhile there’s been little news from trade talks between the US and China. Instead, the media has been focused on the payment scandal involving Trump’s former lawyer. Analysts are speculating that the President will not want to concede any ground on trade while he’s dealing with the fall-out.

Today we have Durable Goods Orders and a speech from Fed Chairman, Jerome Powell. Perhaps it’s not as interesting as anything to do with Stormy Daniels or Russian election conspiracies, but nevertheless it’s important for Dollar direction.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please 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: 

Friday 24th August 2018 at 16:15

£1.00 GBP = 1.1057 EURO

£1.00 GBP = 1.2860 USD

£1.00 GBP = 1.7531 AUD

£1.00 GBP = 1.92824 NZD

£1.00 GBP = 1.6763 CAD

£1.00 GBP = 18.3761 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

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.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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

Today's Currency Market Focus

GBP: No one mention the B word
EUR: Tricky times 
USD: Donald’s not happy

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GBP: No one mention the B word

The Pound has recovered in the last few sessions, helped along by a lack of news on Brexit.

That could be about to change as the British Brexit minister, Dominic Raab, has been in Brussels this week trying to break the ‘No Deal’ deadlock.

It already seems likely that the October deadline to agree a deal will be missed and therefore result in an emergency EU summit in November.

We see the current rally as temporary with investors taking advantage of Pound weakness given its recent poor run.

EUR: Tricky times

Like the Pound, the Euro has come under significant pressure recently, but for different reasons. This week, it too is enjoying a mini-rally.

However, while the Pound is focused on a single issue (Brexit), the Euro faces risks on multiple fronts. Turkish Lira depreciation, US-China trade tension and Italian budget blow-outs are all simmering in the background.

It makes the Euro a tricky currency to trade right now.

USD: Donald’s not happy

The Dollar continues to drift lower after its monster multi-month rally.

Donald Trump upset the applecart yesterday saying he was “not thrilled” with the Fed raising rates.

The Fed Chairman, Jerome Powell, is relatively new to the hot seat and Trump doesn’t like what he’s seeing so far. Let’s not forget that Trump made his fortune in highly leveraged property investments and is on record as saying he’s a “low-rate guy”.

Investors and President Trump will be keeping a close eye on the latest Fed minutes due out later today.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please 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 22nd August 2018 at 17:50

£1.00 GBP = 1.1139 EURO

£1.00 GBP = 1.2913 USD

£1.00 GBP = 1.7573 AUD

£1.00 GBP = 1.9285 NZD

£1.00 GBP = 1.6608 CAD

£1.00 GBP = 18.3428 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

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.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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

Today's Currency Market Focus

GBP: Bored of Brexit
EUR: Wild Turkey
USD: Dollar dips, panic passes

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GBP: Bored of Brexit

There’s not a lot of data due out this week but we all know that Sterling is far more dependent on Brexit news.

It’s hard to know if anything is happening at all. It seems we are at stalemate with the Europeans and most politicians are lounging somewhere in the sun.

I note however that the PM was still tweeting away yesterday saying “The government is delivering a Brexit for the people.” What does that mean? Another soundbite with no substance. No wonder polls show 60% of “the people” are bored of Brexit.
At least the economy is in better form.

EUR: Wild Turkey

The panic may have subsided in Turkey but speculators are clearly not convinced the worst is over.

Data from the futures markets shows that bearish positions in the Euro have escalated in the last two weeks. The overall position is now in negative territory for the first time since May 2017.

On Thursday the minutes from the recent ECB meeting are released. These will be watched closely as investors see if the committee is moving towards tightening.

USD: Dollar dips, panic passes

The Dollar has come off highs in the last couple of sessions as investor demand for safe-haven currencies has faded.

Trade talks between the US and China are scheduled for Tuesday and Wednesday, although these are not being carried out by high level officials.

As for Turkey, the Lira has risen from its lows but there is little news to support the move. Investors will be awaiting the latest Fed minutes due out on Wednesday.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please 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: 

Monday 20th August 2018 at 12:30

£1.00 GBP = 1.1178 EURO

£1.00 GBP = 1.2763 USD

£1.00 GBP = 1.7470 AUD

£1.00 GBP = 1.9285 NZD

£1.00 GBP = 1.6684 CAD

£1.00 GBP = 18.5650 ZAR

Need to Send Money Abroad?

At Clé France, many of our customers have a need for currency exchange.

We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.

Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.

As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.

Save money on your foreign currency transfers

Key Currency can save you money by offering more competitive rates of exchange than retail banks.

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.

Download our "Buying A Property in France" Guide PDF document.

Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.

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