Rate Alert: Pound set to Plummet

Today there is an important rate meeting.

While it’s widely expected the Bank of England will hike rates, it doesn’t make a lot of sense.

The UK economy has the slowest growth of the G7 economies. And there’s plenty of Brexit uncertainty that lies ahead.

The irony is that even if the Bank of England raises rates, it may in fact trigger a fall in the Pound, not a rise.

That’s because any rate rise today is likely to offset by a cautious outlook.

If you have exposure to the Pound, please contact us now for current exchange rates and guidance.

Thanks For Reading, What Next?

To discuss current exchange rates and currency purchasing strategies, please contact your trader today on 01872 487 500.

If you don't yet have an account please 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 2nd August 2018 at 12:00

£1.00 GBP = 1.1252 EURO

£1.00 GBP = 1.3075 USD

£1.00 GBP = 1.7764 AUD

£1.00 GBP = 1.9361 NZD

£1.00 GBP = 1.7044 CAD

£1.00 GBP = 17.5827 ZAR

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