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Opportunities for Buyers and Sellers - Market Update 09.08.2023

Is the Pound set for a summer seesaw?

As always, plenty happening in the currency markets.

Last week the Bank of England raised rates for the 14th time in a row.

But here’s the interesting bit: the members were split 3 ways on the vote.

It’s another sign we could be near the top.

Investors seem wary of this too with the Pound dropping after the meeting.

Take note - there is potential for a lot more Sterling selling if there is a shift in Bank of England expectations.

I suspect the Bank of England is confused. They know they’ve inflicted a lot of pain but suspect it’s not yet filtered through to the economy.

That seems evident given the UK’s low unemployment and healthy mortgage approvals. But they don’t want to break the economy, so it’s likely they will have to pause soon.

If that’s the case, what will drive Pound exchange rates next?

It could be we face range-bound trading over the coming weeks and months.

Look on the bright side, that will give opportunities to buyers and sellers.

So what next, what should you do?

Make sure you keep in touch as we are always on the look-out for favourable moves.

To speak to a member of our team, call us on 01872 487 500.

To find out the latest money transfer rates, click below.

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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 9th August 2023 at 10:15

£1.00 GBP = 1.1612 EURO

£1.00 GBP = 1.2754 USD

£1.00 GBP = 1.9449 AUD

£1.00 GBP = 2.0980 NZD

£1.00 GBP = 1.7103 CAD

  • 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.

    Brexit Guide Download

  • 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.

Cle France Currency Guide link

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


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