Pound Alert: UK Budget tomorrow

Some big events coming up…

Tomorrow, we have the UK Budget and then, next Tuesday, the US Election.

We also have interest rate decisions from both countries in the next fortnight.

As for the imminent UK Budget, we know tax hikes are coming but it’s also been leaked the government will try to offset any drag on the economy with ‘growth projects’.

Over the pond, the US Presidential Election is less than a week away.

According to bookmakers, Trump has a 62.5% chance of winning. This has been strengthening the Dollar.

While markets have been fairly tame the last few sessions, there are still some stand-out currency trends in place.

GBP / EUR remains near 2-year highs.

GBP / USD remains near 2-month lows.

Given the significant events to come in the US and UK, it might be worth discussing your upcoming requirements with one of our in-house currency experts.

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.

For any concerns or discussions on your upcoming currency requirements, make sure to reach out to us.

To speak to a member of our team, call us on 01872 487 500.

To find out our latest rates, please 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: 

Tuesday 29th October 2024 at 09:40

£1.00 GBP = 2.0005 EURO

£1.00 GBP = 1.2985 USD

£1.00 GBP = 1.9445 AUD

£1.00 GBP = 2.1710 NZD

£1.00 GBP = 1.8020 CAD

£1.00 GBP = 1.1245 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 hits 2 ½ year highs against Euro.

Some big trends at the moment

Yes you read that right, the Pound to Euro has hit 2 ½ year highs against the Euro.

It’s a momentous move considering what’s happening.

With UK inflation now officially below the 2% target, the Bank of England is almost certain to cut rates in November and possibly December.

That is likely to weaken the Pound as the UK starts to close the interest rate gap with the EU.

Of course, the EU is expected to keep cutting too – but the UK has more scope to cut.

Pound to US Dollar is going the other way.

The GBP/USD exchange rate has just hit 2-month lows.

There’s a couple of reasons for this.

Firstly, the US Fed is expected to cut rates in a “slow and steady” fashion compared to more aggressive cuts expected in the UK.

Secondly, both polls and betting markets have swung towards a Trump victory in recent weeks. Trump’s economic policies are seen as more expansionary / inflationary, which is strengthening the Dollar.

We are now only 2 weeks away from US election day.

In terms of news this week, there’s a bunch of speeches scheduled from central bankers, including 3 from Bank of England members.

They tend to offer up clues on forward policy, so often move the markets.

Note also, we are also coming up to the October Budget.

That’s a risk event for the Pound as bad news is coming.

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.

For any concerns or discussions on your upcoming currency requirements, make sure to reach out to us.

To find out our latest rates, click below.

You can speak to us on 01872 487 500.

To find out our latest rates, please 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: 

Wednesday 22nd October 2024 at 10:00

£1.00 GBP = 2.0005 EURO

£1.00 GBP = 1.2990 USD

£1.00 GBP = 1.9445 AUD

£1.00 GBP = 2.1465 NZD

£1.00 GBP = 1.7970 CAD

£1.00 GBP = 1.1240 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

It’s a pivotal time in currency markets.

Pound at risk of further falls this week

The central banks are itching to cut rates but want more proof that inflation is tamed.

Speaking of which, the latest UK inflation number is due out tomorrow and may fall below the 2% target.

For those requiring a stronger Pound Sterling, the news could cause a setback as the Bank of England could speed up the pace at which it lowers interest rates.

Bear in the mind, the Pound has been 2024's best performing major currency.

This is because the Bank of England has been slow to cut interest rates, having only cut once so far, in August.

At 5.0%, the UK’s base rate is the highest central bank policy rate in the G10.

Put simply, the Bank of England has the potential to cut aggressively, which would be expected to weaken the Pound.

As for Euro, the ECB has been quicker to act.

This Thursday, they may strike again.

Another 0.25% cut is expected but investors will be also listening for clues on future cuts.

The US Dollar is bucking the trend at the moment and showing strength.

Jobs data in the US has been surprisingly robust and inflation is stubborn.

It means the Fed may sit on their hands – which is boosting the Dollar.

Elsewhere in the market, we note some good gains for the Pound against AUD, CAD and NZD over the past week.

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 a currency requirement, please get in touch so we can discuss timing and rates.

You can speak to us on 01872 487 500.

To find out our latest rates, please 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: 

Wednesday 15th October 2024 at 11:00

£1.00 GBP = 1.1990 EURO

£1.00 GBP = 1.3080 USD

£1.00 GBP = 1.9475 AUD

£1.00 GBP = 2.1465 NZD

£1.00 GBP = 1.8060 CAD

£1.00 GBP = 1.1265 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

What will the Bank of England do next.

The Pound awaits Fed and BoE rate decisions…

A choppy market over the past week for the major currency pairs.

It’s likely a pause for breath before this week’s big news…

Later today the US Federal Reserve is due to meet.

With US inflation back down to 2.5%, a 0.25% cut in rates looks likely. Some analysts are suggesting 0.5% is possible as the Fed has been slow out of the blocks.

At Thursday lunchtime, it’s the Bank of England’s turn in the spotlight.

An interest rate cut in the UK is not likely but with economic growth flatlining it may cause the Bank of England to think long and hard.

The interest rate decisions and forward guidance over the coming days may be enough to trigger a break-out of the current narrow trading ranges.

If you don’t want to take the risk, you can always lock-in an exchange rate now.

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.

Please get in touch to discuss your situation.

You can call us on 01872 487 500.

To find out our latest rates, please 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: 

Wednesday 18th September 2024 at 11:00

£1.00 GBP = 1.1875 EURO

£1.00 GBP = 1.3325 USD

£1.00 GBP = 1.9490 AUD

£1.00 GBP = 2.1245 NZD

£1.00 GBP = 1.7970 CAD

£1.00 GBP = 1.1150 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

There has been a lot of news in the past few days about the future of Travel to Europe from the UK, will there be new rules, a possible visa to apply for etc.

I hope I can help ease the confusion over what is actually changing and when with this timeline, hope it helps you understanding.

- 10th November 2024 (confirmed)

EU entry-exit system comes into effect, requiring British Passport holders to be fingerprinted and provide a facial biometric on entry to the European Union and wider Schengen Area 9but not Ireland or Cyprus).

- May 2025 (not confirmed, but no earlier):

Etias online permit becomes available, with a transitional period of at least six months during which Etais is optional.

- November 2025 (not confirmed, but no earlier):

Etias transitional period ends. A period of grace begins this gives travellers without an Etias a one-time only pass.

- May 2026 (not confirmed, but no earlier):

Grace period ends and all British passport holders must have an Etias.

I hope this helps.

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