Market Opinion for GBP / EUR and GBP / USD

One of the truths in finance is “nothing moves in a straight line”.

Whether it’s currencies, share prices or your own money (that mostly goes down).

And that’s the core problem for central banks today.

Is inflation still going down or is it headed back up?

In the UK, inflation didn’t budge last month (it was expected to fall). In Australia, it was announced today that inflation has jumped back up. And in the US, it headed back up in July and August after falling heavily at the start of the year.

It matters a lot for currencies.

Inflation drives interest rates. And interest rates drive currencies.

I suspect the Bank of England may pause interest rates at the next meeting. The European Central Bank is expected to do the same tomorrow.

In the absence of rate hikes, currencies may consolidate rather than trend. There can still be big moves, but they may hold within a range.

GBP/EUR and GBP/USD both look to be consolidating.

So what next, what should you do?

Get ahead of the game and read our Guide to Foreign Currency Exchange.

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Current rates: 

Wednesday 25th October 2023 at 11:30

£1.00 GBP = 1.1465 EURO

£1.00 GBP = 1.2124 USD

£1.00 GBP = 1.9134 AUD

£1.00 GBP = 2.0820 NZD

£1.00 GBP = 1.6704 CAD

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