Pound fluctuates as UK inflation bites
The message is "It’s still a good time for buyers of Euros or Dollars"
But for how long?
This morning the latest inflation data has been released.
UK inflation has come in at 8.7% - much higher than elsewhere.
By comparison, US inflation is down to 4.0% and the Eurozone down to 6.1%.
The Pound’s strength in recent months is because the Bank of England is going to have to remain very tight with monetary policy.
Tomorrow the Bank of England meets again and another interest rate hike is almost a done deal.
But there’s only so much the UK economy can take.
So the outlook for the Pound is less certain over the coming months.
Last week the Pound hit a 14-month high against the US Dollar and a 10-month high against the Euro.
It’s a run that may be hard to sustain.
Over time, the UK is likely to get in sync with its peers and the Pound’s advantage will end.
So what next, what should you do?
The message is it’s still a good time for buyers of Euros or Dollars.
Make sure you get in touch to discuss your currency requirements.
To find out the latest exchange rates, please 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 21st June 2023 at 10:45
£1.00 GBP = 1.1638 EURO
£1.00 GBP = 1.2715 USD
£1.00 GBP = 1.8788 AUD
£1.00 GBP = 2.0607 NZD
£1.00 GBP = 1.6819 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
Pound to Euro flirts with 9-month highs
Just sending you a quick heads up this morning.
The Pound to Euro (GBP/EUR) exchange rate is sitting right near 9-month highs (£1.00 = 1.17 Euro).
Given the Pound had a nasty drop at the start of this week, it’s a done a rather quick u-turn.
If you’re looking to buy Euros you may want to grab it at this level.
There’s also been a breakout to new 52-week highs in the GBP/USD rate.
Buyers of US Dollars may wish to take advantage of the Pound’s strength.
Looking elsewhere, AUD, CAD and NZD all holding pretty steady.
So what next, what should you do?
If you want to speak to a member of our team, just call us on 01872 487 500.
We can talk you through the very latest rates and market trends.
To find out today’s exchange rates, just 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 16th June 2023 at 06:00
£1.00 GBP = 1.1689 EURO
£1.00 GBP = 1.2779 USD
£1.00 GBP = 1.8564 AUD
£1.00 GBP = 2.0511 NZD
£1.00 GBP = 1.6914 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
The Pound to Euro rate hit 5-month highs last week
Timing is always important when sending money abroad.
To recap, the Pound to Euro rate hit 5-month highs only last week.
It’s been more of a case of Euro weakness than Pound strength.
The Euro has struggled against other currencies too.
A little fact for you: the Euro has closed down against the US Dollar for the last five weeks in a row!
Eurozone economic data has recently been pretty weak. It may be enough to make the ECB pause on interest rates sooner than expected.
On the other hand, Catherine Mann, the Bank of England’s chief hawk, reckons the UK has a far bigger inflation battle than either the EU or US.
Hint: she sees more interest rates hikes coming.
While that’s bad news for UK borrowers, it gives support to the Pound. Overall, the GBP/EUR rate looks to have an upward bias and is likely to retest the recent highs.
As for the US Dollar, it’s been quite volatile of late – all that huffing and puffing over the debt ceiling got investors jittery.
But away from politics, the fundamentals in the US economy are strong.
The closely watched non-farm payrolls came out on Friday higher than expected for the 14th month in a row! That’s given the US Dollar a lift and GBP/USD looks to have a downward bias for now.
So what next, what should you do?
Timing is always important when sending money abroad.
It’s always worth trying to achieve the best rate possible. Even the small daily moves matter.
If you would like to discuss your currency requirements, please do get in touch.
You can speak to a member of our team on 01872 487 500.
Or click on the link below for our latest rates.
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 7th June 2023 at 15:00
£1.00 GBP = 1.1628 EURO
£1.00 GBP = 1.2445 USD
£1.00 GBP = 1.8684 AUD
£1.00 GBP = 2.0581 NZD
£1.00 GBP = 1.6633 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 up again on UK inflation
Higher interest rates are good for a currency.
UK inflation has come out higher than expected this morning.
While bad news for consumers, it’s good news for the Pound (and good for those of you looking to buy Euros when buying French Property).
The trend in GBP/EUR has been positive in 2023.
It’s been helped along by the UK’s high inflation rate and subsequent interest rate hikes.
Higher interest rates are good for a currency.
The markets have been pricing in an 84% chance of another interest rate hike at June’s meeting.
Inflation is still the big bad wolf in currency markets.
In Europe, the ECB President (Christine Lagarde) is determined to win the inflation battle.
“We will be courageous” she said this week.
It’s hard to tell the difference between courage and stupidity most of the time. Either way, the ECB’s tough stance will help to underpin the Euro over the coming months.
In the US, the debt ceiling drama continues.
While the odds are high things will get resolved, the consequences could be catastrophic if no compromise can be reached. For now, the US Dollar remains in limbo.
So what next, what should you do?
As always, new events lead to opportunities and risks.
Do get in touch with the Key Currency team regarding any upcoming payments.
We will be happy to assist and help make the most of your money.
Call us on 01872 487 500.
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 24th May 2023 at 11:30
£1.00 GBP = 1.1512 EURO
£1.00 GBP = 1.2380 USD
£1.00 GBP = 1.8852 AUD
£1.00 GBP = 2.0221 NZD
£1.00 GBP = 1.6780 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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