Always a good idea to have a plan in place
Pound drifts down ahead of Bank of England news
The Pound has given up some of its recent gains over the last week.
Looks more like a lack of positive catalysts than anything specific.
A bit quiet this week in terms of Pound related news.
A couple of members of the Bank of England have speeches booked in over the coming days.
Traders will be looking for clues on the current state of thinking from the wise owls of Threadneedle Street.
As a heads up, markets are currently pricing in a 90+% chance of a 25 basis point hike from the Bank of England at its next meeting on the 21st September. While still 3 weeks away it should limit any Pound losses.
There can’t be too many more rate hikes to come, surely? We’re at 14 and counting.
Meanwhile, some important data due out later this week which will impact GBP/EUR and GBP/USD.
In Europe, we have the latest inflation read and minutes from the last ECB meeting.
In the US, we also have inflation numbers and jobs data (non-farm payrolls).
So what next, what should you do?
Plenty of movement happening in exchange rates right now.
Always a good idea to have a plan in place (even if you break it).
To speak to a member of our team, call us on 01872 487 500.
To find out our latest exchange rates, click below.
Benefits of using Key Currency:
- Great exchange rates
- Quick and easy transfers
- No transfer fees
- Expert help and guidance
- Authorised by the FCA
Current rates:
Wednesday 30th August 2023 at 10:00
£1.00 GBP = 1.1630 EURO
£1.00 GBP = 1.2638 USD
£1.00 GBP = 1.9564 AUD
£1.00 GBP = 2.1259 NZD
£1.00 GBP = 1.7143 CAD
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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
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Pound nears 12-month highs against Euro
Do you want the good news or the bad news?
We’ll start with the good news… UK inflation is slowing down.
Now for the bad news… so is the UK economy.
That’s the problem with inflation. It’s hard to tackle the disease without hurting the patient.
Despite a cooling economy, the Pound is looking good against the Euro. It’s approaching 12-month highs.
Economists still think the Bank of England may have to raise interest rates further to kill-off the wage-price spiral we spoke about last week.
As for the Euro, it’s been struggling to gain momentum as Germany, the big daddy of the EU, has man flu. German economic numbers have been a bit soft lately.
The US dollar looks more robust, helped by their economy.
US retail sales have now grown 4 months in a row. The US consumer is back spending (as always).
So what next, what should you do?
Any currency requirements? We’re here to help as always.
If you are looking to transfer money, please do get in touch. There’s plenty of good opportunities in currency markets over the summer.
Call us on 01872 487 500 to speak to a member of our team. To find out the latest rates, click below.
Benefits of using Key Currency:
- Great exchange rates
- Quick and easy transfers
- No transfer fees
- Expert help and guidance
- Authorised by the FCA
Current rates:
Wednesday 23rd August 2023 at 11:45
£1.00 GBP = 1.1706 EURO
£1.00 GBP = 1.2663 USD
£1.00 GBP = 1.9704 AUD
£1.00 GBP = 2.1316 NZD
£1.00 GBP = 1.72178 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.
-
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
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