Currency Market Update - 22nd March 2023
Pound shaky ahead of rate decision
A couple of big events happening this week…
Later today, we have an interest rate decision in the US.
The Fed is expected to raise rates by 0.25%.
This will have consequences all around the world as many countries are forced to ‘follow the leader’ in order to keep their currencies stable.
On Thursday, it’s the Bank of England’s turn.
Normally UK interest rates decisions are well-flagged ahead of meetings, but this one is highly uncertain.
Markets have been pricing in a 44% chance of no change versus a 56% chance of a 0.25% increase.
Interestingly, the Pound has shown some weakness ahead of the meeting.
Warning: No change would be bad news for the Pound.
As for the Euro, most of the focus remains on the banking system.
The collapse of Credit Suisse has dented confidence in the Euro area.
So what next, what should you do?
Right now, it’s about trying to get that story off the front page. Nothing to see here folks etc.
Lots going on, as always.
If you have currency requirements and would like to discuss your situation, feel free to speak to a member of our team on 01872 487 500.
Or 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 22nd March 2023 at 10:00
£1.00 GBP = 1.1387 EURO
£1.00 GBP = 1.2284 USD
£1.00 GBP = 1.8350 AUD
£1.00 GBP = 1.9754 NZD
£1.00 GBP = 1.6834 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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Currency Markets Update Wednesday 15th March 2023.
Budget Day, Rate Decisions & Fear Factor
Today we have the Budget due out in the UK.
Expect some volatility in the Pound as investors take in the details.
Remember the meltdown after the mini-Budget from September 2022?
Let’s hope it’s as dull as dishwater.
On Thursday we have the ECB rate decision. Interest rates are expected to rise by 0.5% in the EU.
Anything outside of that and GBP/EUR could go haywire.
And in the US, there are still daily jitters around the collapse of Silicon Valley Bank.
The Fed is doing its best to bring calm, but collective fear is a difficult beast too tame.
So what next, what should you do?
With everything going on, there’s plenty of potential for market opportunities.
Make sure you reach out to the team with any upcoming requirements.
You can call us on 01872 487 500.
Or to find out our 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 15th March 2023 at 10:30
£1.00 GBP = 1.1350 EURO
£1.00 GBP = 1.2100 USD
£1.00 GBP = 1.8202 AUD
£1.00 GBP = 1.9489 NZD
£1.00 GBP = 1.6613 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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Pound jumps back up again
The UK and the EU agreed a new post-Brexit deal for Northern Ireland.
It’s given the Pound a lift, but these days the markets seem bored with Brexit.
Last week we had more of a thunderbolt.
Better than expected UK business confidence and budget numbers really got the Pound motoring.
The market reaction though was quite revealing.
The Pound jumped higher on the day of the news but then drifted back down over the following days.
From a technical perspective, that’s a negative sign.
For the bulls to be in charge, the Pound should have held on to its gains following a positive gap, not given them up so easily.
It means there are plenty of Pound sellers still out there.
I guess one takeaway is that currency markets tend to give both buyers and sellers opportunities.
That makes our job easier.
So what next, what should you do?
We’re always looking to make the most of any favourable moves.
If you want to speak to a member of our team, call us on 01872 487 500.
Or 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:
Tuesday 28th February 2023 at 11:30
£1.00 GBP = 1.1401 EURO
£1.00 GBP = 1.2100 USD
£1.00 GBP = 1.7970 AUD
£1.00 GBP = 1.9638 NZD
£1.00 GBP = 1.6416 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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