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
How to Save Money on your foreign currency transfers
