Pound has great week before rate decisions

The Pound has jumped against all of its main rivals – EUR, USD, AUD, CAD and NZD.

The move may have surprised investors as the latest news from the UK has been pretty poor.

Government borrowing, wage growth and unemployment all going the wrong way.

We suspect the Pound’s move is more of a ‘dead cat bounce’.

This is a trading pattern when a prolonged fall is followed by a sharp rebound.

The market will be shifting its attention to rate decisions over the next few weeks.

On Wednesday and Thursday this week we have the US Fed and European Central Bank rate decisions.

Then Thursday next week (6th Feb), it’s the Bank of England’s turn.

There’s political pressure on all of them to cut, cut, cut.

I doubt it will be that straightforward.

Plenty of movement in exchange rates so far in 2025.

Please get in touch so we can make the most of the opportunities ahead.

So what next, what should you do?

Make sure you get in touch with the Key Currency team, so we can keep an eye on rates for you.

You can call us on 01872 487 500.

To learn more or 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: 

Tuesday 28th January 2025 at 10:15

£1.00 GBP = 1.1930 EUR

£1.00 GBP = 1.2450 USD

£1.00 GBP = 1.9900 AUD

£1.00 GBP = 2.1985 NZD

£1.00 GBP = 1.7925 CAD

£1.00 GBP = 1.1275 CHF

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