The Pound has been put to the test this week.

Against the Euro, GBP faced heavy selling yesterday only to then bounce right back and hit fresh highs for the year.

From a technical perspective, it will be seen as a bullish indicator.

We suspect the reason was more to do with the Euro.

The EU continues to drag its heels on the vaccine roll-out. It could stall an economic recovery.

And now Italy looks to be facing a 3rd wave of COVID cases – adding to the negative outlook.

Against the US Dollar, the picture is less clear.

GBP peaked against USD almost 3 weeks ago.

Since then, the rate has stayed in a tight range, but we know stability never lasts long in foreign exchange.

As always, we will be looking to take advantage of any favourable moves for our clients.

Volatility can be turned to your advantage.

If you would like to discuss risk mitigation strategies, please get in touch with our team on 01872 487 500.

To find out our latest rates, click below.

Thanks For Reading, What Next?

• To discuss Exchange Rates and Your Currency Options, please contact our trader today on 01872 487 500.
• Need to Trade Your Currency soon, then request a free quote and we’ll look after you from there.

Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates: 

Wednesday 17th March 2021 at 09:35

£1.00 GBP = 1.1671 EURO

£1.00 GBP = 1.3905 USD

£1.00 GBP = 1.7988 AUD

£1.00 GBP = 1.9363 NZD

£1.00 GBP = 1.7331 CAD

£1.00 GBP = 20.7145 ZAR

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