Today's Currency Market Focus Includes:
GBP: The enemy within
EUR: Italy goes for broke
USD: Trump gets his way again
GBP: The enemy within
Sterling dipped late last week as the latest GDP (economic growth) data came in below expectations.
This week all attention will be on the Conservative party’s annual conference.
The party remains deeply divided over Brexit and Theresa May will be fighting the enemy within. Let’s hope she performs better than last year’s “car crash” speech.
EUR: Italy goes for broke
The Euro was hit hard last week after the Italian government passed plans to run a huge budget deficit.
The Italian finance minister got overruled by his new “populist” coalition partners, who have decided to ignore the lessons from the past and try to spend their way out of trouble.
There’s not a lot the rest of the EU can do other than frown and tut-tut. As Italy is one of the EU’s big four, it heightens the risk of political instability which will lessen the appeal of the Euro.
USD: Trump gets his way again
President Trump loves to negotiate hard. His threat to kick Canada out of NAFTA seems to have done the job.
The press is reporting that the US and Canada have reached a new trade agreement – with US dairy farmers getting greater access to Canadian markets – exactly what Trump demanded.
While this is good news for the US, the irony is it will cause Dollar weakness as risk sentiment improves and investors rotate out of safe-haven currencies like the Dollar.
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:
Monday 1st October 2018 at 12:15
£1.00 GBP = 1.1238 EURO
£1.00 GBP = 1.3051 USD
£1.00 GBP = 1.8073 AUD
£1.00 GBP = 1.9758 NZD
£1.00 GBP = 1.6695 CAD
£1.00 GBP = 18.3803 ZAR
Need to Send Money Abroad?
At Clé France, many of our customers have a need for currency exchange.
We are pleased to have partnered with Key Currency to offer our customers favourable exchange rates on international currency transfers.
Key Currency is an award-winning currency exchange specialist, Key Currency Limited is authorised and regulated by the Financial Conduct Authority as an Authorised Payment Institution (Financial Services Register No. 753989) and experienced in executing high-volume transactions.
As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.
Save money on your foreign currency transfers
Key Currency can save you money by offering more competitive rates of exchange than retail banks.
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.
Download our "Buying A Property in France" Guide PDF document.
Concerned about Brexit? download our "Buyers Guide to Brexit" PDF document.
For everything you need to know about French property visit www.clefrance.co.uk
