Pound Poised for Super Thursday

Thought I would give you a quick heads up as ‘Super Thursday’ approaches…

We have the Bank of England interest rate decision as well as quarterly economic forecasts, then followed by Governor Andrew Bailey’s press conference.

Economists are forecasting the Bank of England will cut rates – the 3rd time since their peak in 2023.

It will be interesting to see if the Pound can hold up.

Usually, a rate cut would be bad news for the Pound.

GBP/EUR has been strong in recent weeks and is sitting near highs for the year, so there’s an excuse to sell off.

As for the US Dollar, it’s been like a yo-yo.

We’ve had lots of recent announcements about Trump trade tariffs – with investors unsure whether it’s good or bad for the Dollar.

On Thursday and Friday respectively, we have US jobless claims and non-farm payrolls.

It will give investors something else to focus on.

As you may have seen, exchange rates have been lively so far in 2025.

So what next, what should you do?

If you have upcoming requirements, please do get in touch so we can keep an eye on things for you.

You can call us on 01872 487 500.

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Current rates: 

Tuesday 4th February 2025 at 10:15

£1.00 GBP = 1.2025 EUR

£1.00 GBP = 1.2430 USD

£1.00 GBP = 2.0015 AUD

£1.00 GBP = 2.2160 NZD

£1.00 GBP = 1.7925 CAD

£1.00 GBP = 1.1300 CHF

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