Pound Fights Back vs The Dollar

After hitting highs for the year against the Aussie & Euro last week, downward trends have been consistent over the following 7 days.

In the last 24 hours, slight moves in favour of GBP continue and there is news from the Euro Area regarding inflation expected soon.

This could alter the GBP/EUR rate further.

It hasn’t been all doom and gloom for the Pound though, especially vs the Dollar.

Since the sharp fall in the GBP/USD rate after UK inflation data on the 14th, GBP has mounted a fight back.

Unlike others, the downward trend hasn’t continued, the Pound has seen a +0.44% gain over USD.

Many are awaiting news about interest rates in the United States.

A contributing factor in its recent weakness.

Elsewhere, the Pound has seen strong gains vs the Canadian Dollar, closer to its high levels seen in January.

However, GBP/NZD has suffered a similar trend to that of the AUD and the Euro rates.

That’s all for this week.

So what next, what should you do?

What’s next? Talk of interest rate cuts by the BoE has ramped up.

Increased pressure on the Pound could be coming in the summer months.

If you’d like to carry on the conversion regarding the latest GBP trends, our team are only a call away on 01872 487 500.

To find out the latest rates, click below.

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: 

Thursday 22nd February 2024 at 15.30

£1.00 GBP = 1.1675 EURO

£1.00 GBP = 1.2620 USD

£1.00 GBP = 1.9280 AUD

£1.00 GBP = 2.0420 NZD

£1.00 GBP = 1.7040 CAD

£1.00 GBP = 1.1125 CHF

• 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.

  

• 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.

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

Pound touches 16-month highs against Euro

The Pound has hit a stumbling block this week after underwhelming UK inflation data.

This is another surprise for forecasters as many predicted the Pound to see further gains from the latest CPI data.

Before the inflation news, the Pound was choppy vs the Dollar, but against the Euro, we saw the rate hit 16-month highs, beating anything seen in 2023 and the highest so far in 2024.

Following the report…

GBP / USD has seen the biggest impact, dropping to its second-lowest point of 2024.

This week saw positive inflation reports for the US. A double whammy for the Pound.

For GBP / EUR, despite the drop, the rate is still 2% higher than the previous 200-day rate average.

Elsewhere, it’s a similar story, the Pound has seen drops vs NZD, AUD, and CAD after the UK inflation news.

So what next, what should you do?

What’s next? Talk of interest rate cuts by the BoE has ramped up.

Increased pressure on the Pound could be coming in the summer months.

If you would like more market updates or to discuss current trends, a member of the trading team is just a call away on 01872 487 500.

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: 

Thursday 15th February 2024 at 11.30

£1.00 GBP = 1.1700 EURO

£1.00 GBP = 1.2555 USD

£1.00 GBP = 1.9325 AUD

£1.00 GBP = 2.0625 NZD

£1.00 GBP = 1.6990 CAD

£1.00 GBP = 1.1085 CHF

• 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.

  

• 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.

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

Qui était saint Valentin? (Who was Saint Valentine?)

Today is a day that is both loved (and possibly loathed) around the world. However, in France, a Saint-Valentin is particularly a holiday for lovers and only means one thing, Love.

Valentines Day has its origins in the life of the real Saint Valentine, who lived in the third-century. According to some Catholic tradition, Saint Valentine was martyred on a road to Rome in 269 AD. However, very little is known about him and stories about his life–and death–diverge. According to the French Catholic website Nominis...  

“Il était, dit-on, évêque de Terni en Italie et jouissait du renom de thaumaturge. Un miracle le fit connaître comme chrétien et le préfet de Rome fit mettre à mort celui qui avait mis ses pouvoirs de prêtre et ses talents de médecin au service des chrétiens prisonniers pour leur foi.”

(He was, it is said, the bishop of Terni in Italy who was renowned as a miracle worker. One miracle in particular made him known as a Christian and the Roman government put him to death because he had used his powers as a priest and his medical knowledge to help Christian prisoners for their faith.)

According to another story, the Roman emperor Claudius admired Saint Valentine for his talents. Claudius told his fellow Romans, “Romains… écoutez comme cet homme parle avec sagesse et droiture.” (Romans, listen to how this man speaks with wisdom and righteousness.) However, despite his earlier admiration, Claudius felt threatened by Saint Valentine after he healed one of Claudius’ soldier’s daughters, who was blind, and decapitated him in 280 AD.

Whatever the circumstances of his life and death, why is Saint Valentine commemorated on February 14 around the world? In 495, Pope Gelasius decreed that February 14 would be consecrated to Saint Valentine. We don’t know exactly why, however. According to some traditions, it’s because mid-February was believed to be the time of year, in the Middle Ages, when birds paired off.

It, thus, became associated with romantic love. How did Saint Valentine become associated with romantic love? That’s more difficult to trace. However, English author Chaucer is typically credited with popularising the holiday in the fourteenth century–over one thousand years after the real Saint Valentine lived.

Joyeuse Saint-Valentin!

Psst: Did you Know...

• 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.

  

Blog submitted by: Alex at The French Property Network - Cle France.

This blog was originally posted on The French Language Blog pages.

Valentine's Day in France.

The origins of Saint Valentine’s Day are unclear. Ancient Rome celebrated the 14th February as a day of worship to the god Juno, and there are three different Saint Valentines in the Catholic Church. Tradition states that people began to notice that birds began their mating rituals half way through the second month of the year and so the 14th was designated as a day for exchanging love letters and tokens of esteem.

As you would expect from a country whose capital city is so strongly associated with romance, Valentine’s day has throughout history played a part in the love lives of the French. A former Valentine’s Day custom, which was officially banned, was that of ‘la loterie d’amour’, translated as ‘lottery of love’. Single people, both young and old, would go into their houses, (the houses all facing in on each other during this period), and call out until they were paired off with each other. However, if the gentleman was displeased with his ‘prize’ he would simply abandon her, hoping for better luck next time! Those women abandoned by their suitors would build a large bonfire and burn images of their men, cursing and abusing them as the flames burnt. However, due to fears of public disorder the government issued a decree banning the practice.

The origins of the first Valentine cards to be sent also have a French connection: the first known ‘carte d'amitié’, was believed to have been sent in 1415 by the Duke of Orleans who was imprisoned in the Tower of London following the Battle of Agincourt, to his wife.

The village of Saint Valentin, situated in the central department of Indre was traditionally a place of pilgrimage. Nowadays the village holds a number of fêtes to celebrate its association with this patron saint, where people can renew their marriage vows.

Today St Valentine's Day is celebrated in France in much the same way as in the UK where it is an opportunity to exchange cards, flowers, chocolates and other gifts. It has a similar commercial feel also as retailers will stock up on these traditional gifts and cards, and hearts and roses will be the order of the day in shop windows and displays.

Blog submitted by: Alex at Cle France.

How to minimise currency risk for your French property purchase

What is currency risk?

Geoff Lambourne, Director at Key Currency has shared with us this analogy:

If you walked into a casino with £10,000, would you risk putting it all on red or black?

If you’re not okay with the possibility of losing it all, then currency risk is something to consider when buying a French property.

The exchange rate for Pounds to Euros moves on average 10% in 12 months.

That means; for a £100,000, the price of your dream home overseas could fluctuate as much as £10,000 either way.

So, if you’re not prepared to pay an additional 10% of the property price, perhaps it’s time to speak to a currency specialist?

How can I protect my property budget?

Well, the first step is connecting with a trusted currency specialist. If possible, opt for one with experience helping individuals manage overseas currency transactions.

We recommend Key Currency to all our clients, they have years of experience in foreign exchange and specialise in overseas property.

The first step in protecting your overseas property budget would be to register with Key Currency, it’s free and there’s no obligation to trade.

Register with Key Currency today.

Then, we can schedule a call with your assigned account manager to discuss the best options for you and your budget.

The "forward contract" is possibly Key Currency’s most popular service for overseas property buyers. It’s a legal contract that allows you to lock in an exchange rate for up to 12 months at a time.

This provides peace of mind, knowing that you’ll pay the same price you agreed to pay for your overseas home by the time you complete the transaction.

For example - if you agree to buy a €100,000 property abroad when £1 = €1.15, it will cost you £86,956.

But it’s possible that by the time you come to complete the transaction, £1 only buys you €1.08, so the price has shot up to £93,592, costing you another £5,633, a 'forward contract' can avoid this happening.

Click below for a free quote from Key Currency.

Kind regards, 
David Evans 
Co-Founder of Cle France.

Cle France / Key Currency

Key Currency is the currency exchange department of Cle France Ltd, 'Cle' being the French word for 'Key', did you see what we did there?

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