Pound falls as new PM announced - here's why...

We have (yet another) new Prime Minister.

The hope is it brings some stability to the UK.

In reaction to the news, the Pound actually fell against the Euro and US Dollar.

As they say in the markets “The good news was already in the price”.

The positive reaction to the policy U-turn and change of PM happened last week.

Now it’s back to the job at hand: inflation.

All eyes remain on central banks as interest rates keep going up around the world.

So what next, what should you do?

Given how fragile the economic situation is, we expect currency markets to remain volatile.

Of course, that will present risks and opportunities.

If you have a currency transfer in mind, discussing it with your Account Manager could save you stress and money.

Click below to get an exchange rate quote or call 01872 487 500.

Current rates: 

Tuesday 25th October 2022 at 10:50

£1.00 GBP = 1.1473 EURO

£1.00 GBP = 1.1325 USD

£1.00 GBP = 1.7962 AUD

£1.00 GBP = 1.9962 NZD

£1.00 GBP = 1.5564 CAD

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