Pound nears 12-month highs against Euro

Do you want the good news or the bad news?

We’ll start with the good news… UK inflation is slowing down.

Now for the bad news… so is the UK economy.

That’s the problem with inflation. It’s hard to tackle the disease without hurting the patient.

Despite a cooling economy, the Pound is looking good against the Euro. It’s approaching 12-month highs.

Economists still think the Bank of England may have to raise interest rates further to kill-off the wage-price spiral we spoke about last week.

As for the Euro, it’s been struggling to gain momentum as Germany, the big daddy of the EU, has man flu. German economic numbers have been a bit soft lately.

The US dollar looks more robust, helped by their economy.

US retail sales have now grown 4 months in a row. The US consumer is back spending (as always).

So what next, what should you do?

Any currency requirements? We’re here to help as always.

If you are looking to transfer money, please do get in touch. There’s plenty of good opportunities in currency markets over the summer.

Call us on 01872 487 500 to speak to a member of our team. 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 23rd August 2023 at 11:45

£1.00 GBP = 1.1706 EURO

£1.00 GBP = 1.2663 USD

£1.00 GBP = 1.9704 AUD

£1.00 GBP = 2.1316 NZD

£1.00 GBP = 1.72178 CAD

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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.
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