Why 2024 is set for currency volatility.

Markets are forward-looking beasts.

By saying that, I mean they not only react to current news but also try to anticipate news before it occurs.

Which is why I wanted to touch on what’s happening right now.

Futures markets are pricing in a bunch of interest rate cuts in 2024.

Good news for borrowers, but a mixed bag for currencies.

At the moment, markets are expecting the EU to slash rates by around 1.5% next year, the US to cut by 1.25% and the UK by 0.75%.

As currencies weaken with lower rates, any difference in the size of the cuts would trigger a good dose of currency volatility.

If all remains unchanged (a big if), the Pound should benefit relative to the Euro and Dollar.

A lot could & will happen between now and then, but that is the current consensus thinking across the medium term.

In the short-term we have had a bit of profit taking in Pound Sterling after its stellar run recently.

Both GBP/EUR and GBP/USD have drifted down over the past week.

There’s just over 2 weeks to go in 2023...

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 and want the peace of mind of securing a rate now, please get in touch.

You can speak to us on 01872 487 500.

Or 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 13th December 2023 at 10.00

£1.00 GBP = 1.1610 EURO

£1.00 GBP = 1.2524 USD

£1.00 GBP = 1.9107 AUD

£1.00 GBP = 2.0542 NZD

£1.00 GBP = 1.7025 CAD

£1.00 GBP = 1.0973 CHF

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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.
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