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Nov 29

Pound has surprise jump against Euro & Dollar

A good little run for the Pound lately

Pound Sterling has hit 3-month highs against the US Dollar and 1-month highs against the Euro.

The UK economy is showing more positive signs, with better data from the Manufacturing and Services sectors.

But I would say most of the Pound’s gains have come from weakness elsewhere.

Higher interest rates are starting to bite in all corners of the globe.

The latest data is pointing to a soft landing for the US economy, which is driving further Dollar weakness.

As for Europe, the German economy isn’t looking too flash – and it tends to lead the way for the rest of the Euro gang.

If you think UK interest rates are high, things could always be worse.

In Turkey, the central bank just raised their interest rates from 35% to 40%!

It’s what happens when inflation runs out of control – Turkey’s inflation rate is 10 times higher than the UK’s.

As for the poor Turkish Lira – it’s been decimated. Your Pounds fetch a king’s ransom (in Lira).

So what next, what should you do?

Get ahead of the game and read our Guide to Foreign Currency Exchange.

Download the Guide Here - with no obligation of course.

If you have an upcoming currency requirement, please do get in touch.

We are happy to discuss rates, market trends and timing.

You can speak to a member of our team by calling 01872 487 500.

To get our latest exchange 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 29th November 2023 at 10.00

£1.00 GBP = 1.1554 EURO

£1.00 GBP = 1.2680 USD

£1.00 GBP = 1.9137 AUD

£1.00 GBP = 2.0609 NZD

£1.00 GBP = 1.7217 CAD

£1.00 GBP = 1.1117 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.

    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

Add CommentViews: 563
Nov 22

Currency Exchange News - 22.11.2023

The Pound got an unexpected lift this week.

It was a bad news equals good news thing.

Investors have been anticipating a cut in UK interest rates could be possible given that inflation has been dropping considerably.

In fact, money markets had been pricing in that the first cut could come as early as May next year.

However, the Bank of England is having none of it.

The party poopers at Threadneedle Street made some pretty dour statements, including the surprisingly clear “it is far too early to be thinking about rate cuts”.

It’s given the Pound a shot in the arm (higher rates equals higher currency).

The Pound has been struggling against the Euro recently, but this latest news managed to break the downtrend.

Against the US Dollar, the Pound already had upward momentum and now sits near 2-month highs.

So what next, what should you do?

Get ahead of the game and read our Guide to Foreign Currency Exchange.

Download the Guide Here - with no obligation of course.

There’s always something brewing in currency markets.

It pays to be alert to news and events.

If you would like to speak to a member of our team, call us on 01872 487 500.

To find out the latest rates, click below.

Learn More

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 22nd November 2023 at 09:45

£1.00 GBP = 1.1490 EURO

£1.00 GBP = 1.2534 USD

£1.00 GBP = 1.9116 AUD

£1.00 GBP = 2.0778 NZD

£1.00 GBP = 1.7182 CAD

£1.00 GBP = 1.1078 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.

    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

Add CommentViews: 659
Nov 16

Beaujolais Nouveau Day

Beaujolais Nouveau Day is marked in France on the third Thursday in November with fireworks, music and festivals.

Under French law, the wine is released at 12:01 am, just weeks after the wine's grapes have been harvested.

Parties are held throughout the country and further afield to celebrate the first wine of the season.

Beaujolais Nouveau Lead image

The Gamay grapes that go into Beaujolais Nouveau are handpicked in the Beaujolais province of France. The wine actually originated about a century ago as a cheap and cheerful drink produced by locals to celebrate the end of the harvest season.

Perhaps the most well-known producer of Beaujolais Nouveau is Georges Duboeuf, who is credited as one of the marketing geniuses behind the wine. Selling this young red was viewed by some vintners as a means to clear large quantities of wine at decent profits, which would create a much-needed cash flow shortly after harvest. 

Beaujolais Nouveau 4

The idea of a race to Paris carrying the first bottles of the new vintage was conceived and this attracted much media attention. By the 1970s, the race became a national event. The races spread to neighbouring countries in Europe in the 1980s, followed by North America, and in the 1990s, to Asia.

The traditional slogan used in ad campaigns and marketing material - Le Beaujolais nouveau est arrivé (which translates to The new Beaujolais has arrived) was changed in 2005 to It's Beaujolais Nouveau time.

Today, there are several dozen vintners making this popular red. The Beaujolais region is 34 miles long from north to south and 7 to 9 miles wide and home to nearly 4,000 vineyards which produce twelve officially-designated types of Beaujolais known as AOCs. They include some of the finest and priciest grand crus (big vintage) wines around, including Fleurie and Cote de Brouilly. The most common two are the Beaujolais and Beaujolais-Villages, the former of which account for half of the region's annual output.

In 2010, 35 million bottles of the wine were put on the market. Some 7.5 million were sold in French supermarkets and 15.5 million were exported mainly to Japan, Germany and the United States.

Beaujolais Nouveau owes its easy drinkability to a winemaking process called carbonic maceration, also known as whole-berry fermentation. This technique preserves the fresh, fruity quality of the grapes without extracting bitter tannins from the grape skins.

Beaujolais Nouveau - that much-ballyhooed cherry-red coloured vintage that’s best served chilled - is clearly not for wine snobs. This fresh and fruity red is the result of a quick fermentation process that ends up with a tasty, clean wine that is enjoyed by palates the world over.

There are about 120 Beaujolais Nouveau related festivals held in the Beaujolais region. 

The most famous 'Les Sarmentelles' is held in the town of Beaujeu, the capital of the Beaujolais region. Kicking off in the early evening the day before Beaujolais Nouveau, the five-day festival features wine tasting, live music and dancing. During the afternoon on Beaujolais Nouveau Day, a heated tent offers wine and a range of local foods for visitors to sample. There is also a tasting contest featuring all of the twelve kinds of Beaujolais, in which the winner nets his or her weight in Beaujolais-Villages. In the evening, a torch lit parade honours the farmers that made the wine. Fireworks at midnight mark the release of the new wine, which is then drank until dawn. 

Beaujolais Nouveau is meant to be drunk young. Most vintages should be consumed by the following May after its release. However, in excellent vintages (such as 2000) the wine can live much longer and can be enjoyed until the next harvest rolls around.

The region of Beaujolais is known for its fabulous food. The famed Paul Bocuse restaurant is just minutes from the heart of Beaujolais, as is Georges Blanc’s. These great restaurants have plenty of Beaujolais Nouveau on their wine lists. The wine goes well with either haute cuisine or Friday night’s pizza.

Is Beaujolais Nouveau making a comeback?

Beaujolais Nouveau Day was once a national event in the UK. Is it making a comeback, asks Justin Parkinson from the BBC News website.

It's as much a part of 1980s folklore as massive mobile phones, shoulder pads and personal organisers. On the third Thursday of every November the City of London was awash with celebrations for the arrival of Beaujolais Nouveau.

Getting hold of the recently pressed, light red wine as quickly as possible became an annual event. It was usually served chilled.

The Beaujolais Run meant teams competing to be the first to get the first case of Nouveau from Paris to London. One year it got even more "Eighties" than normal, the winner being a Harrier jet. Bars, restaurants, pubs and off-licences held tastings, sometimes lasting all day, as events spread around the UK.

"Sales of Beaujolais Nouveau reached a peak in the late 1980s," says Anne McHale, master of wine at Berry Bros and Rudd. "It was a huge success based on marketing. But it declined in the 1990s when too many producers jumped on the bandwagon and the quality declined, getting weaker and more acidic."

McHale says focusing on Nouveau damaged the reputation of Beaujolais's better-quality products, in the way "Blue Nun did with German wines". Only now are people starting to return to other Beaujolais, which are often sold under the names of individual villages, such as Fleurie, she adds.

Japan is the biggest export market for Nouveau, buying almost 60 million litres last year. UK interest might not be at its peak, but something seems to be stirring. Last year the country imported 2.27 million litres - more than two and a half times the amount for 2012. This happened after Marks and Spencer launched a "carbon-neutral" version.

The celebrations have always been commercially motivated. Beaujolais, in France's Burgundy region, south-east of Paris, started promoting its freshly pressed wines as "Nouveau" in 1951. The release date was moved ahead of those for rival wines to maximise publicity. The uncorking of bottles just after midnight became a cause for street parties.

The run to London started after wine writers Clement Freud and Joseph Berkmann held a wager in 1970 over who could get it across the Channel first. This is still going, although competitors vie to transport it via the shortest route rather than in the shortest time, to ensure road safety.

"Nouveau has improved," says Beaujolais Run director Rob Bellinger. "Because of global warming the wine has been getting better every year. In the old days really it was like drinking vinegar."

One place that's never tired of Beaujolais Nouveau Day is Swansea. "It's like a national holiday," says Becky Oliver, owner of the city's No Sign Wine Bar. "Everyone has the day off. It's always been quite big but it's growing every year."

So, with UK sales increasing, is it on the up again? "I would be pretty confident in saying that this doesn't represent a future trend," says McHale. "It's more likely to be the result of a temporary spike in retro-nostalgia. Or perhaps this entire volume is being consumed by Swansea?"

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

Add CommentViews: 3493
Nov 15

Currency Exchange News - 15.11.2023

As always, there’s plenty happening

Euro hits 6-month highs as Dollar hits 2-month lows

Some pretty big moves of late…

The Euro has been a winner recently.

EUR/GBP briefly hit 6-month highs late last week before some profit taking kicked in.

Why? Well, that’s less clear.

You could say the Euro is the ‘least worst’ of the majors at the moment.

The UK is struggling with soft economic data and has the highest inflation of the major, developed economies. A bit of political instability isn’t helping the Pound either.

The US Dollar has lost some sparkle too.

It’s sitting around 2-month lows against the Pound.

With lower job creation and inflation in the US, markets now think the Fed will sit tight for a while.

We also note that there is a US election next year and the Fed won’t want to cause a recession (and lose their jobs).

As always, there’s plenty happening.

It’s why exchange rates rarely sit still for long.

So what next, what should you do?

Get ahead of the game and read our Guide to Foreign Currency Exchange.

Download the Guide Here - with no obligation of course.

We can assist you with your currency requirements, please do get in touch.

You can call us on 01872 487 500.

To learn more or find out our latest rates, click below.

Learn More

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 15th November 2023 at 10:30

£1.00 GBP = 1.1486 EURO

£1.00 GBP = 1.2470 USD

£1.00 GBP = 1.9150 AUD

£1.00 GBP = 2.0648 NZD

£1.00 GBP = 1.707 CAD

£1.00 GBP = 1.1082 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.

    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

Add CommentViews: 661
Nov 15

New Automatic Visa for Second Home Owners

New Automatic Visa for Second Home Owners

Or at least the possibility of one!

France’s upper house of parliament has decided to approve a bill giving British second-home owners an automatic long-stay visa right without any formalities.

The bill will be debated by députés (similar to British MPs), at the Assemblée Nationale in December. It can only be finalised and approved after that process.

The idea is that British second home owners will be able to spend more than 90 days out of 180 days (currently the maximum time allowed following Brexit), in France without making a formal application for a ‘temporary long-stay visa’.

British second home owners would then be able to travel freely to and from their second home without having to complete costly and complicated forms for long stay visas.

Until the new bill is debated and finalised we don’t currently know exactly what will be required in terms of proof of ownership, or other documentations to qualify, but it is starting to sound like some good news for those with second homes in France! Watch this space…

Want to learn more about living in France Post-Brexit?

You can download our guide by clicking the button below.

Guide Download

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

For everything you need to know about French property visit www.clefrance.co.uk

Add CommentViews: 1249

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