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.
- Great exchange rates
- Quick and easy transfers
- No transfer fees
- Expert help and guidance
- 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
|
|
Pound touches 16-month highs against Euro
The Pound has hit a stumbling block this week after underwhelming UK inflation data.
This is another surprise for forecasters as many predicted the Pound to see further gains from the latest CPI data.
Before the inflation news, the Pound was choppy vs the Dollar, but against the Euro, we saw the rate hit 16-month highs, beating anything seen in 2023 and the highest so far in 2024.
Following the report…
GBP / USD has seen the biggest impact, dropping to its second-lowest point of 2024.
This week saw positive inflation reports for the US. A double whammy for the Pound.
For GBP / EUR, despite the drop, the rate is still 2% higher than the previous 200-day rate average.
Elsewhere, it’s a similar story, the Pound has seen drops vs NZD, AUD, and CAD after the UK inflation news.
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 would like more market updates or to discuss current trends, a member of the trading team is just a call away on 01872 487 500.
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:
Thursday 15th February 2024 at 11.30
£1.00 GBP = 1.1700 EURO
£1.00 GBP = 1.2555 USD
£1.00 GBP = 1.9325 AUD
£1.00 GBP = 2.0625 NZD
£1.00 GBP = 1.6990 CAD
£1.00 GBP = 1.1085 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
|
Follow Us for the Latest Info
