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Pound Hits 7-month High vs Dollar
The Pound has seen positive gains this week vs major currencies, possibly reacting to last week’s UK budget news.
The biggest rise for the Pound has been against the US Dollar.
The GBP/USD rate is at a near 7-month high, certainly the highest we’ve seen so far in 2024.
A little momentum has been lost for the Pound in the last 48 hours, though.
It’s a similar story against the Euro, the Pound saw quite a steep spike around March 8th, and it was close to reaching the 16-month highs we saw for GBP/EUR in February.
The GBP/EUR rate has since retreated to where it was before the budget.
Underwhelming news around UK employment a couple of days ago could be a factor here.
It’s been much quieter for the Pound elsewhere, with only slight gains vs the CAD and NZD.
GBP/AUD has seen a choppy trend over the last couple of weeks, more in favour of the Aussie.
That’s all for this week, hope to speak with you soon.
So what next, what should you do?
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Current rates:
Thursday 14th March 2024 at 09.40
£1.00 GBP = 1.1715 EURO
£1.00 GBP = 1.2815 USD
£1.00 GBP = 1.9350 AUD
£1.00 GBP = 2.0785 NZD
£1.00 GBP = 1.7260 CAD
£1.00 GBP = 1.1275 CHF
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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.
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Want to Live in France Post-Brexit? download our "PDF Guide to Living in France Post-Brexit" document.
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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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The Pound has regained momentum in March
GBP/USD Hits 30-Day High as UK Budget Loomed into Reality
After quite a choppy and downward end to February, the Pound has regained momentum in March.
Since February 29th, the Pound vs Dollar trajectory has continually risen.
The GBP/USD rate has seen a +0.54% gain over the past 5 days and is at the highest it’s been over the last 30 days.
Against the Euro, the Pound has had a bit more of a contest with only a +0.18% gain over the last week.
Elsewhere, GBP/CAD has continued to see a significant upward trend.
So much so, that the Pound to Canadian Dollar rate was at its highest since August 2023.
The CAD has fought back a little over the last 24 hours.
These strong movements for the Pound may yet be tested further though, as the UK budget was announced by Jeremy Hunt yesterday.
Political events, such as budgets, can play a major part in the Pound's fortunes.
However, we don’t see anything too groundbreaking or disastrous in this one.
It’ll certainly be an interesting few days once the dust starts to settle and we will be sure to let you know how the Pound reacts in next week’s update!
So what next, what should you do?
If you want to continue to discuss the latest trends and currency news, our team is 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.
- Great exchange rates
- Quick and easy transfers
- No transfer fees
- Expert help and guidance
- Authorised by the FCA
Current rates:
Thursday 7th March 2024 at 09.45
£1.00 GBP = 1.1701 EURO
£1.00 GBP = 1.2745 USD
£1.00 GBP = 1.9330 AUD
£1.00 GBP = 2.0705 NZD
£1.00 GBP = 1.7220 CAD
£1.00 GBP = 1.1230 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
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