Same, the same but different.

That would sum up currency markets at the moment.

All the major currencies face the same two issues: inflation and interest rates.

But the UK, EU and US look to be at different stages in the cycle.

The UK is expected to be nearing the end of interest rate hikes.

Markets are pricing in an 80% chance of a 0.25% hike at the May meeting. That may prove to be the top.

In contrast, the European Central Bank is still beating the drum for much higher rates, there’s even talk of a 0.5% rise.

And the US is somewhere in between. A few more small hikes perhaps.

It’s important for currencies because higher interest rates lead to higher currency values.

In terms of reading the tea leaves, look out for UK GDP today, it is an important number.

The UK economy looks to be on firmer footing these days (limping not crawling along).

A strong reading should give Sterling a lift.

So what next, what should you do?

Any clients with requirements, please make sure to get in touch with the team in advance.

That way we can let you know if exchange rates move in your favour.

To find out the latest rates, click below.

Benefits of using 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 13th April 2023 at 10:10

£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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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.
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