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

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