The Pound Choppy vs Dollar & Euro

The Pound has been see-sawing so far this week with no clear direction.

It has been a quiet time for the UK economy regarding economic data. The Pound’s movement has been largely a reaction to news from elsewhere around the world.

Let’s start with the Dollar and Euro.

GBP/USD has seen the smallest gains over the last 7 days but after the sharp drop seen at the start of this month, the Pound has certainly steadied against the Dollar.

We’re not seeing similar highs that we did in January, though.

For GBP/EUR the consistent downward trend finally buckled around a week ago.

Since then, the rate has been fairly choppy, struggling to reach the 13-month highs we saw mid-way through the month.

Inflation news from the Euro Area is due at the beginning of March, and it’s certainly one to keep an eye on.

Pressure is building on the ECB to drop interest rates, which could have a big impact on the GBP/EUR exchange rate.

The real positivity for the Pound has been against the Aussie, NZD, and the Canadian Dollar this week.

GBP has seen a 1.4% gain on the Kiwi Dollar, a 0.9% gain vs AUD, and a 0.7% rise against the CAD.

A real momentum shift after a sideways couple of weeks against these currencies.

That’s all for this update.

So what next, what should you do?

It is the 29th of February so why not leap fowrard and find out about what is a "forward contract" it is our most popular service for overseas property buyers.

It’s a legal contract that allows you to lock in an exchange rate for up to 12 months at a time.

If you’d like to find out more about forward contracts or the latest trends, our team are only a call away on 01872 487 500.

To see our latest competitive exchange rates, click below.

Click below for a free quote from 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: 

Thursday 29th February 2024 at 10.50

£1.00 GBP = 1.1680 EURO

£1.00 GBP = 1.2660 USD

£1.00 GBP = 1.9490 AUD

£1.00 GBP = 2.0810 NZD

£1.00 GBP = 1.7205 CAD

£1.00 GBP = 1.1140 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 Fights Back vs The Dollar

After hitting highs for the year against the Aussie & Euro last week, downward trends have been consistent over the following 7 days.

In the last 24 hours, slight moves in favour of GBP continue and there is news from the Euro Area regarding inflation expected soon.

This could alter the GBP/EUR rate further.

It hasn’t been all doom and gloom for the Pound though, especially vs the Dollar.

Since the sharp fall in the GBP/USD rate after UK inflation data on the 14th, GBP has mounted a fight back.

Unlike others, the downward trend hasn’t continued, the Pound has seen a +0.44% gain over USD.

Many are awaiting news about interest rates in the United States.

A contributing factor in its recent weakness.

Elsewhere, the Pound has seen strong gains vs the Canadian Dollar, closer to its high levels seen in January.

However, GBP/NZD has suffered a similar trend to that of the AUD and the Euro rates.

That’s all for this week.

So what next, what should you do?

What’s next? Talk of interest rate cuts by the BoE has ramped up.

Increased pressure on the Pound could be coming in the summer months.

If you’d like to carry on the conversion regarding the latest GBP trends, our team are only a call away on 01872 487 500.

To find out the latest rates, 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: 

Thursday 22nd February 2024 at 15.30

£1.00 GBP = 1.1675 EURO

£1.00 GBP = 1.2620 USD

£1.00 GBP = 1.9280 AUD

£1.00 GBP = 2.0420 NZD

£1.00 GBP = 1.7040 CAD

£1.00 GBP = 1.1125 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