Critical Week for Pound & Dollar - 01.11.2023

A big week ahead for the US Dollar and UK Pound.

Later today we have the latest US Fed meeting. No change in interest rates is expected but as always, the wise words that follow will offer up critical clues.

The US economy is pumping, so we see the Fed talking aggressively about rates.

On Thursday, attention will turn to the Bank of England.

Same as above, no change in rates is expected this month.

Last month the committee was almost split on their decision, so expect intellectual fireworks.

I know some economists think there might even be some talk about rate cuts next year given the fragile state of the British economy.

If so, it would create what is known as ‘policy divergence’. It matters a lot for the Pound.

With the Fed still tightening, it could well weaken GBP/USD from here.

We also see the ECB as firmly in pause mode, which will keep the Euro solid.

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.

A testing week, so please get in touch to discuss your currency requirements.

You can call us on 01872 487 500.

To find out our 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: 

Wednesday 1st November 2023 at 11:30

£1.00 GBP = 1.1505 EURO

£1.00 GBP = 1.2130 USD

£1.00 GBP = 1.9134 AUD

£1.00 GBP = 2.0841 NZD

£1.00 GBP = 1.6838 CAD

• 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.

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• 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.
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