Pound jumps back up again

The UK and the EU agreed a new post-Brexit deal for Northern Ireland.

It’s given the Pound a lift, but these days the markets seem bored with Brexit.

Last week we had more of a thunderbolt.

Better than expected UK business confidence and budget numbers really got the Pound motoring.

The market reaction though was quite revealing.

The Pound jumped higher on the day of the news but then drifted back down over the following days.

From a technical perspective, that’s a negative sign.

For the bulls to be in charge, the Pound should have held on to its gains following a positive gap, not given them up so easily.

It means there are plenty of Pound sellers still out there.

I guess one takeaway is that currency markets tend to give both buyers and sellers opportunities.

That makes our job easier.

So what next, what should you do?

We’re always looking to make the most of any favourable moves.

If you want to speak to a member of our team, call us on 01872 487 500.

Or 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
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Current rates: 

Tuesday 28th February 2023 at 11:30

£1.00 GBP = 1.1401 EURO

£1.00 GBP = 1.2100 USD

£1.00 GBP = 1.7970 AUD

£1.00 GBP = 1.9638 NZD

£1.00 GBP = 1.6416 CAD

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