Market Update - Plenty Happening in 2024

Some interesting moves this week.

The Pound to Euro rate has been pretty steady despite German exports smashing forecasts.

Normally you would expect GBP/EUR to drop on that news (due to a rise in the Euro).

The lack of reaction is a bullish sign for the Pound.

I suspect investors are instead focusing on the expectations of an interest rates cut ahead of the Bank of England.

GBP/USD has been creeping up over the past week.

The Pound started 2024 poorly against the Dollar, but yesterday briefly hit highs for the year.

We’ve also seen the Pound climbing against the Aussie Dollar.

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.

Get in touch if you would like to discuss current rates and your own currency strategy.

You can speak to a member of our team on 01872 487 500.

To find out the latest rates, click below.

Benefits of using Key Currency:

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 January 2024 at 11.45

£1.00 GBP = 1.1622 EURO

£1.00 GBP = 1.2721 USD

£1.00 GBP = 1.8978 AUD

£1.00 GBP = 2.0397 NZD

£1.00 GBP = 1.7017 CAD

£1.00 GBP = 1.0848 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

2024 Starts With A Breakout

Plenty of movement out of the blocks in 2024.

The Pound is looking good against the Euro having been stuck for the past 10 days. Looks positive going forward.

Against the Dollar, the opposite has happened.

The Pound has lost a bit of ground in the last few sessions, albeit the GBP/USD rate hit 5-month highs in the last week of 2023.

I would suggest it’s just a bit of profit taking.

In terms of 2024, we think interest rate cuts are coming.

With 2024 being an election year in the US there will be pressure to cut rates.

We expect the US to lead the way with cuts (late Q1 or early Q2) and as usual, the other central banks will follow the leader.

In general, the Pound has upward momentum heading into 2024.

That’s because a UK recession was priced in by many economists and traders, but consensus has changed.

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.

I hope you had a great break over the festive period.

We’re back, rested and ready to go.

If you would like to speak to a member of our team, call us on 01872 487 500.

To find out the latest rates, click below.

Benefits of using Key Currency:

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: 

Thursday 4th January 2024 at 11.00

£1.00 GBP = 1.1601 EURO

£1.00 GBP = 1.2705 USD

£1.00 GBP = 1.8863 AUD

£1.00 GBP = 2.0313 NZD

£1.00 GBP = 1.6925 CAD

£1.00 GBP = 1.0805 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

Outlook for Pound, Euro and Dollar 2024

A quick update on the latest trends.

Pound to Euro is trading sideways at the moment, moving in a fairly tight range.

Standing back though, the GBP / EUR rate is a lot closer to the high than the low for 2023.

The trend still looks positive for Pound to US Dollar (GBP/USD), having hit a three-month high last week.

Moving forward, we see 2024 as being a year of rate cuts.

Bear in mind, rate cuts tend to weaken a currency.

Markets expect the US Fed to lead the way (March is pencilled in) and the rest to follow.

We see the ECB joining in soon thereafter, but the UK holding back a few months (2nd half of 2024 perhaps).

The Bank of England seems to be the only major central bank still talking tough on inflation.

Everyone else is hinting at cuts. That is keeping the Pound strong for now.

With exchange rates currently 'stable', you might wish to secure a rate now and rest easy over the festive break.

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.

With exchange rates currently 'stable', you might wish to secure a rate now and rest easy over the festive break.

You can speak to us on 01872 487 500.

Or to find out our latest rates, click below.

Benefits of using Key Currency:

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: 

Thursday 21st December 2023 at 08.45

£1.00 GBP = 1.1530 EURO

£1.00 GBP = 1.2628 USD

£1.00 GBP = 1.8721 AUD

£1.00 GBP = 2.0209 NZD

£1.00 GBP = 1.6847 CAD

£1.00 GBP = 1.0898 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

Markets are forward-looking beasts

By saying that, I mean they not only react to current news but also try to anticipate news before it occurs.

Which is why I wanted to touch on what’s happening right now.

Futures markets are pricing in a bunch of interest rate cuts in 2024.

Good news for borrowers, but a mixed bag for currencies.

At the moment, markets are expecting the EU to slash rates by around 1.5% next year, the US to cut by 1.25% and the UK by 0.75%.

As currencies weaken with lower rates, any difference in the size of the cuts would trigger a good dose of currency volatility.

If all remains unchanged (a big if), the Pound should benefit relative to the Euro and Dollar.

A lot could & will happen between now and then, but that is the current consensus thinking across the medium term.

In the short-term we have had a bit of profit taking in Pound Sterling after its stellar run recently.

Both GBP/EUR and GBP/USD have drifted down over the past week.

There’s just over 2 weeks to go in 2023...

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 a currency requirement and want the peace of mind of securing a rate now, please get in touch.

You can speak to us on 01872 487 500.

Or to find out our latest rates, click below.

Benefits of using Key Currency:

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 13th December 2023 at 10.00

£1.00 GBP = 1.1610 EURO

£1.00 GBP = 1.2524 USD

£1.00 GBP = 1.9107 AUD

£1.00 GBP = 2.0542 NZD

£1.00 GBP = 1.7025 CAD

£1.00 GBP = 1.0973 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

Pound has surprise jump against Euro & Dollar

Here’s a quick summary of what’s happening:

- GBP-EUR & GBP-USD hovering near 3-month highs
- Markets bet on ECB rate cuts
- Bank of England dismissive of any UK cuts

Pound Sterling is maintaining its strength as traders believe the Bank of England will be the last to cut rates.

Bank of England Governor Andrew Bailey dismissed the idea of rate cuts as “not happening”.

The Eurozone’s inflation rate has fallen to 2.4%, only marginally above the 2% target.

In the USA, the Fed also seems to be softening its stance.

Fed Governor Christopher Waller, who was previously pushing to higher rates, now says they could start lowering US interest rates in 3-5 months.

Anyway, the bottom line is the ‘policy divergence’ is good news for Sterling.

Buyers of Euro and Dollars might want to take advantage.

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 any currency requirements, please get in touch.

You can call us on 01872 487 500 to discuss rates and timing.

To find out our latest rates, click below.

Benefits of using Key Currency:

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 6th December 2023 at 09.30

£1.00 GBP = 1.1674 EURO

£1.00 GBP = 1.2604 USD

£1.00 GBP = 1.9169 AUD

£1.00 GBP = 2.0493 NZD

£1.00 GBP = 1.7119 CAD

£1.00 GBP = 1.1025 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