UK recession risk looms over the Pound

The UK looks to be drifting towards recession.

Pressure grows as inflation continues to soar to levels not seen in 40 years.

To make matters worse, real wages are falling at the fastest pace on record.

As a result, the Pound hit a 16-day low against the Euro last week.

Things look tough for the Pound, but the Eurozone also has its problems.

Europe is facing reduced gas supplies from Russia which could cause a full-blown energy crisis.

Elsewhere, the US Dollar remains in a stronger position.

The US is seeing faster improvement in curbing inflation, which is steadying the Dollar.

Volatility in currency markets looks set to continue with so much global economic uncertainty.

So what next, what should you do?

If you have a currency transfer in mind, guidance from your account manager could be crucial.

We are always on the look-out for the opportunities and risks that lied ahead.

Get a free quote below or give us a call on 01872 487 500.

Current rates: 

Wednesday 17th August 2022 at 09:15

£1.00 GBP = 1.1892 EURO

£1.00 GBP = 1.1086 USD

£1.00 GBP = 1.7333 AUD

£1.00 GBP = 1.9147 NZD

£1.00 GBP = 1.5562 CAD

£1.00 GBP = 199271 ZAR

• 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 down but not out

Weather outlook: sunny

Pound outlook: cloudy with the chance of a storm

Last week the Bank of England raised rates again (as expected) but also warned the UK could be facing a recession lasting 5 quarters.

The Pound is also grappling with political uncertainty as we await a new Prime Minister – though the odds suggest this is a done deal.

However, there could be something big brewing…

The recent talk is that we may be getting close to ‘peak inflation’.

It explains why stock markets are suddenly surging back up.

If that becomes true, then the doomsayers may retreat to their caves and those currencies hardest hit (such as the Pound) would have the most to gain.

In currency markets, one person’s risk is another’s opportunity.

If you have an upcoming currency transfer, exchange rate movements are so important.

It could be hugely beneficial to speak to one of our account managers and discuss the timing of your transfer.

Click the link below to get a free quote or call 01872 487 500.

Current rates: 

Thursday 11th August 2022 at 10:16

£1.00 GBP = 1.1827 EURO

£1.00 GBP = 1.1220 USD

£1.00 GBP = 1.7222 AUD

£1.00 GBP = 1.9044 NZD

£1.00 GBP = 1.5601 CAD

£1.00 GBP = 19.8384 ZAR

• 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

The Pound has hit its highest point against the Euro in nearly 3 months.

While the Pound has had a tough time lately, the Euro has come under pressure this week.

First, Russia has cut off energy supplies from its main pipeline to Europe.

Secondly, the interest rate increases in the EU are triggering fears that southern European countries such as Spain, Italy and Greece, may be thrown into recession.

Inflation is still the main issue right now.

Last week, the European Central Bank went bigger than expected with a 50-basis point increase.

In the US, a 75-basis point rate increase looks likely on Wednesday evening.

And next week, the Bank of England make its interest rate decision.

After years of nothing, Central Bank meetings are full of fireworks.

So what next, what should you do?

As speculation swirls around global interest rate hikes, exchange rates are likely to continue to be volatile.

If you have a currency transfer in mind, get in touch with your account manager who can discuss it with you.

Click the link below to get a free quote or call 01872 487 500.

Current rates: 

Wednesday 27th July 2022 at 11:50

£1.00 GBP = 1.1884 EURO

£1.00 GBP = 1.2062 USD

£1.00 GBP = 1.7364 AUD

£1.00 GBP = 1.9342 NZD

£1.00 GBP = 1.5509 CAD

£1.00 GBP = 20.3461 ZAR

• 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

The Euro has rallied this week after some tough times.

There is currently speculation a 0.5% interest rate increase may happen in the EU.

This would be a bigger increase than expected, showing Europe is getting more aggressive towards inflation.

The recent rise in the Euro could present a good opportunity for Euro sellers to act.

In the UK, data shows the gap between inflation and wages is increasing.

In simple terms, our living standards are falling.

It’s not good for the man on the street or for the strength of the Pound.

As the world battles inflation, uncertainty in currency markets looks set to continue.

If you have a currency transfer in mind, it could pay to talk it over with your account manager.

Current rates: 

Wednesday 20th July 2022 at 10:00

£1.00 GBP = 1.1733 EURO

£1.00 GBP = 1.2005 USD

£1.00 GBP = 1.7385 AUD

£1.00 GBP = 1.9236 NZD

£1.00 GBP = 1.5449 CAD

£1.00 GBP = 20.5841 ZAR

• 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

With Boris Johnson finally resigning, the Pound rebounded to a 2 month high against the Euro.

Longer-term though, the Pound’s prospects reflect the UK’s shaky economic outlook.

As a result, now could be a good opportunity for Euro buyers.

The US Dollar is at a near 20-year high against the Euro as the US economy looks in better shape than elsewhere.

Europe’s biggest economy, Germany, recorded its first trade deficit in 30 years.

The Germans running a trade deficit is unheard of.

Very unusual times indeed.

It seems the longer the war in Ukraine rumbles on, the worse things look for the Euro.

Uncertainty in the UK and Europe means currency market volatility is likely to continue.

If you have a currency transfer in mind, you could save money by discussing it with your account manager.

Get a free exchange rate quote below or give us a call on 01872 487 500.

Current rates: 

Wednesday 13th July 2022 at 11:30

£1.00 GBP = 1.1851 EURO

£1.00 GBP = 1.1900 USD

£1.00 GBP = 1.7542 AUD

£1.00 GBP = 1.9387 NZD

£1.00 GBP = 1.5482 CAD

£1.00 GBP = 20.2027 ZAR

• 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