Pound to Euro has hit new highs for 2023

Pound jumps to new 5-month highs.

This follows on from last week’s higher-than-expected UK inflation and retail sales figures.

Put simply, it increases pressure on the Bank of England (BoE) to keep hiking interest rates.

The GBP/EUR rate has gained 1.5% in the last month alone!

But it’s not all plain sailing for the Pound.

The Pound to USD rate has been trending down throughout May – falling 1.4% in the last month.

And that’s despite the US debt ceiling drama (which has been holding back the Dollar).

It’s a sign that the medium-term uptrend in GBP/USD may have come to an end and a retreat is now underway.

As you can see, there’s some pretty big moves happening in currency markets.

Timing is always important when sending money abroad.

Exchange rates are fickle beasts.

So what next, what should you do?

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:

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 31st May 2023 at 15:00

£1.00 GBP = 1.1601 EURO

£1.00 GBP = 1.2405 USD

£1.00 GBP = 1.9106 AUD

£1.00 GBP = 2.0621 NZD

£1.00 GBP = 1.6885 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 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:

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 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

Pound within reach of new 2023 highs

A few wobbles for the Pound lately, but it’s still hovering near 2023 highs.

The big question for investors is whether the Bank of England has hit ‘peak rate’.

A lot of economists still think there’s one more 0.25% interest rate rise to come in June; then the pause button will be finally pressed.

Yesterday’s UK jobs data put that prediction in doubt.

Unemployment jumped unexpectedly whilst wage growth slowed. Not a good combo.

But the fact is the UK’s inflation rate remains stubbornly high.

The UK have the highest rate of inflation of any developed economy!

It’s basically forced the Bank of England to keep raising interest rates and cop the abuse.

The knock-on effect is the Pound has outperformed other major currencies in 2023, such as EUR, USD, AUD, CAD and NZD.

The real guesswork is how long the UK’s inflation rate stays higher than other countries? If you know the exact answer, please tell the folks at the Bank of England.

It’s only a matter of time before it begins to drop back.

For those looking to buy Euros and Dollars, you should consider taking advantage of the Pound’s current relative strength.

A note on the US Dollar – it’s being negatively impacted by debt ceiling fears and a fragile domestic banking sector. Be aware of heightened Dollar volatility and stay alert for opportunities.

So what next, what should you do?

Do you have any currency requirements?

We’d love to hear from you. Please get in touch so we can discuss the best strategy.

You can call us on 01872 487 500.

To find out our 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 17th May 2023 at 12:15

£1.00 GBP = 1.1501 EURO

£1.00 GBP = 1.2456 USD

£1.00 GBP = 1.8721 AUD

£1.00 GBP = 1.9925 NZD

£1.00 GBP = 1.6808 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

Big week ahead for Currency Exchange Pairings

Especially for Sterling against the Euro and the US Dollar - GBP/EUR and GBP/USD.

We have rate decisions in both the US and EU.

Expect volatility in GBP/USD and GBP/EUR as a result.

Both central banks are expected to raise interest rates again, however any clues on future rates may well be the interesting bit.

The EU is probably behind the curve of other central banks and has a few rate rises left in the tank. That will underpin the value of the Euro over the coming months.

The US Dollar faces a different story.

One reason the US Dollar has been weak lately is that markets are expecting the Federal Reserve to begin cutting interest rates by the end of the year. It’s a brave call given we’re in May and they are still raising rates!

But with US inflation subsiding quickly and a raft of US bank failures, it’s not as crazy as it first sounds.

Meanwhile the Bank of England is preparing for its 12th consecutive interest rate increase. Ouch! The decision will come Thursday week - 11th May.

Our guess is it will be the top of the cycle for UK interest rates, particularly as the latest survey of inflation expectations dropped to 5.2%.

Bear in mind, interest rate hikes have been supporting the value of the Pound over the past year or so.

For now, the Pound to Euro trend looks choppy and Pound to Dollar trend has an upward bias.

So what next, what should you do?

Looking to transfer currency?

Give us a call to discuss your requirements on 01872 487 500.

To find out our latest rates, just 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 3rd May 2023 at 11:20

£1.00 GBP = 1.1337 EURO

£1.00 GBP = 1.2515 USD

£1.00 GBP = 1.8793 AUD

£1.00 GBP = 2.0111 NZD

£1.00 GBP = 1.7052 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

Buying opportunity - Pound up near 7-month highs

If you are looking to buy or sell Euros, you may be best trying to take advantage.

History tells us the inflation genie is hard to put back in the bottle.

And so it seems.

The Bank of England is finding inflation stubbornly high. It looks like interest rates will rise again next month.

It’s not great for the UK economy.

Last Friday’s UK retail figures were weak as consumers are hurting, so the Bank of England must tread carefully.

The US is facing a similar (if not worse) situation.

Consumer Confidence in the US has dipped to its lowest level since July last year.

The soft US data has pushed the GBP/USD rate to near a 7-month high.

The Euro is proving more resilient, however. It’s being helped by the big daddy of the EU: Germany.

Today we get the latest consumer confidence reading for German households. It’s expected to show a rise for the 7th consecutive month.

Of late, the GBP/EUR rate has struggled to find a clear direction.

So what next, what should you do?

If you are looking to buy or sell Euros, you may be best trying to take advantage of range bound trading rather than a break-out rate.

For anyone needing to buy US, Australian, Canadian or New Zealand Dollars, the Pound is at favourable levels so consider taking advantage of that.

As always, we are on hand to help with your currency requirements.

To understand more, speak to a member of our team, call 01872 487 500.

Or click below for our 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 26th April 2023 at 11:20

£1.00 GBP = 1.1304 EURO

£1.00 GBP = 1.2469 USD

£1.00 GBP = 1.8878 AUD

£1.00 GBP = 2.0334 NZD

£1.00 GBP = 1.69994 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