Pound plunges on inflation news

UK inflation has come in lower than expected.

As you would expect, the Pound has taken a beating across the board.

A lot of the Pound’s strength in 2023 has come from interest rates hikes. Even more were expected.

But that, of course, depends on inflation.

If UK inflation falls, the Bank of England will hit pause (they’ve already raised rates 13 times).

More recently, we’ve found the European Central Bank has been more hawkish than the Bank of England.

It makes sense – the UK base rate is 5% vs 3.5% in the EU.

They’ve got some catching up to do.

What that means is the Euro could outperform the Pound over the coming months.

The picture is less clear with the US Dollar because there’s already talk of rate cuts in the US.

So what next, what should you do?

As always, plenty of ups and downs in currency markets.

If you have an upcoming requirement, please do get in touch to discuss the latest trends.

Call us on 01872 487 500 to speak to a member of our team.

To find out the latest exchange 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: 

Wednesday 19th July 2023 at 10:30

£1.00 GBP = 1.1524 EURO

£1.00 GBP = 1.2950 USD

£1.00 GBP = 1.9117 AUD

£1.00 GBP = 2.0720 NZD

£1.00 GBP = 1.7056 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 Sterling is on a roll at the moment

It recently hit 15-month highs versus the US Dollar and almost 11-month highs versus the Euro.

The main driver is, as usual, the outlook for interest rates.

Investors have repriced the Pound on the basis that rates will stay “higher for longer”.

Market expectations are for UK interest rates to hit at 6.5% by the end of next year.

What’s more alarming is economists believe it will push the UK economy into recession.

But the priority is to crush inflation. So up and up they go.

I’m not convinced they will keep rising as much as expected.

Inflation data in most other countries has started to soften quite quickly.

Anyway, what matters for now is that the market believes the Bank of England will be more aggressive than other countries – and higher rates mean a higher Pound.

So what next, what should you do?

If you are looking to exchange Pounds into EUR, USD, CAD, NZD or AUD – these are favourable times!

Call us on 01872 487 500 to speak to a member of our team.

To get the latest exchange 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: 

Wednesday 12th July 2023 at 10:30

£1.00 GBP = 1.1730 EURO

£1.00 GBP = 1.2933 USD

£1.00 GBP = 1.9328 AUD

£1.00 GBP = 2.0866 NZD

£1.00 GBP = 1.7082 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, Euro and Dollar in summer showdown

Most of the big news lately came from the little Portuguese town of Sintra.

Each year Sintra plays host to the ECB Forum on Central Banking.

Basically, the super nerds soak up the sun while discussing interest rates and inflation.

As we enter the second half of 2023, what have we learnt?

The Bank of England chief believes the market is wrong that inflation will be “short-lived” ie don’t expect rate cuts any time soon.

The European Central Bank hinted at another rate rise this month and rolled out its usual cliches about inflation being “too high”.

US Fed Chief, Jerome Powell, said he was “not averse” to interest rate hikes at their next two meetings.

All in all, they kind of cancelled each other out with their tough talk.

Despite a bit of choppiness lately, the Pound still looks to be in a medium-term uptrend against the Euro and Dollar.

We have warned that all currencies are hyper-sensitive to inflation news right now.

So what next, what should you do?

As always, we are on the look-out for the best opportunities.

To discuss your requirements, you can speak to us on 01872 487 500.

Click below to get the latest rates.

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: 

Wednesday 5th July 2023 at 11:50

£1.00 GBP = 1.1675 EURO

£1.00 GBP = 1.2702 USD

£1.00 GBP = 1.9071 AUD

£1.00 GBP = 2.0548 NZD

£1.00 GBP = 1.6882 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

For everything you need to know about French property visit www.clefrance.co.uk

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Has Pound Sterling hit the top?

Last week we had an unexpected 0.5% rate hike from the Bank of England.

Usually news like that would give Pound Sterling a massive lift.

Instead, it provided only a short-lived bounce.

Since then, the Pound has been drifting sideways against the Euro and US Dollar.

Often it’s a sign of a top if a currency can’t sustain a rally. It literally fizzled out in an hour.

One thing’s for sure - currency markets are hyper-sensitive to inflation data right now.

Just look at what’s happening with GBP/AUD.

Today Australia announced inflation fell more than expected and the Aussie Dollar hit a 2-year low against the Pound.

We know the UK is battling higher inflation than peers, but should inflation relent, we would expect the Pound to give up its recent gains very quickly.

With that in mind, anyone looking to sell GBP and buy Dollars or Euros can still take advantage of current rates.

So what next, what should you do?

As always, we are on the look-out for the best opportunities.

To discuss your requirements, you can speak to us on 01872 487 500.

Click below to get the latest rates.

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: 

Wednesday 28th June 2023 at 10:15

£1.00 GBP = 1.1602 EURO

£1.00 GBP = 1.2711 USD

£1.00 GBP = 1.9145 AUD

£1.00 GBP = 2.0854 NZD

£1.00 GBP = 1.6800 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 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:

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: 

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