Some big news due out this week

Your Weekly Update…

Key News: Bank of England rate decision tomorrow

We have significant interest rate announcements from the US Federal Reserve and the Bank of England.

Both decisions hang in the balance.

The US Fed goes first later today. The most likely scenario is they will plant the seed for a cut in September.

Then on Thursday the Bank of England meets.

While most economists have predicted a 0.25% cut, the futures markets indicate a 45% chance of a cut.

With UK inflation back to 2% target levels, it’s not a crazy call to cut. And they are already in good company with the EU and Canada having cut in recent months.

Bear in mind, interest rate cuts generally weaken a currency.

If you don’t want to take the ‘event risk’, you can lock in a rate beforehand.

Sometimes market reactions don’t pan out as expected because it also depends greatly on what is said to the press after the meeting.

In terms of trends, GBP/USD has been drifting down for the past fortnight.

As for GBP/EUR, it’s been a choppy affair recently – albeit the rate remains near 2-year highs.

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.

Let us help you make the most of your money.

If you have upcoming requirements, please do get in touch so we can look out for a favourable time to exchange your money.

To speak to us, please call 01872 487 500.

Or to 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: 

Wednesday 31st July 2024 at 11:45

£1.00 GBP = 1.1885 EURO

£1.00 GBP = 1.2840 USD

£1.00 GBP = 1.9760 AUD

£1.00 GBP = 2.1700 NZD

£1.00 GBP = 1.7770 CAD

£1.00 GBP = 1.1305 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