Pound Alert: UK Budget tomorrow

Some big events coming up…

Tomorrow, we have the UK Budget and then, next Tuesday, the US Election.

We also have interest rate decisions from both countries in the next fortnight.

As for the imminent UK Budget, we know tax hikes are coming but it’s also been leaked the government will try to offset any drag on the economy with ‘growth projects’.

Over the pond, the US Presidential Election is less than a week away.

According to bookmakers, Trump has a 62.5% chance of winning. This has been strengthening the Dollar.

While markets have been fairly tame the last few sessions, there are still some stand-out currency trends in place.

GBP / EUR remains near 2-year highs.

GBP / USD remains near 2-month lows.

Given the significant events to come in the US and UK, it might be worth discussing your upcoming requirements with one of our in-house currency experts.

So what next, what should you do?

Get ahead of the game and read our Guide to Foreign Currency Exchange.

Download the Guide Here - with no obligation of course.

For any concerns or discussions on your upcoming currency requirements, make sure to reach out to us.

To speak to a member of our team, call us on 01872 487 500.

To find out our latest rates, please click below.

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: 

Tuesday 29th October 2024 at 09:40

£1.00 GBP = 2.0005 EURO

£1.00 GBP = 1.2985 USD

£1.00 GBP = 1.9445 AUD

£1.00 GBP = 2.1710 NZD

£1.00 GBP = 1.8020 CAD

£1.00 GBP = 1.1245 CHF

• 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 hits 2 ½ year highs against Euro.

Some big trends at the moment

Yes you read that right, the Pound to Euro has hit 2 ½ year highs against the Euro.

It’s a momentous move considering what’s happening.

With UK inflation now officially below the 2% target, the Bank of England is almost certain to cut rates in November and possibly December.

That is likely to weaken the Pound as the UK starts to close the interest rate gap with the EU.

Of course, the EU is expected to keep cutting too – but the UK has more scope to cut.

Pound to US Dollar is going the other way.

The GBP/USD exchange rate has just hit 2-month lows.

There’s a couple of reasons for this.

Firstly, the US Fed is expected to cut rates in a “slow and steady” fashion compared to more aggressive cuts expected in the UK.

Secondly, both polls and betting markets have swung towards a Trump victory in recent weeks. Trump’s economic policies are seen as more expansionary / inflationary, which is strengthening the Dollar.

We are now only 2 weeks away from US election day.

In terms of news this week, there’s a bunch of speeches scheduled from central bankers, including 3 from Bank of England members.

They tend to offer up clues on forward policy, so often move the markets.

Note also, we are also coming up to the October Budget.

That’s a risk event for the Pound as bad news is coming.

So what next, what should you do?

Get ahead of the game and read our Guide to Foreign Currency Exchange.

Download the Guide Here - with no obligation of course.

For any concerns or discussions on your upcoming currency requirements, make sure to reach out to us.

To find out our latest rates, click below.

You can speak to us on 01872 487 500.

To find out our latest rates, please click below.

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 22nd October 2024 at 10:00

£1.00 GBP = 2.0005 EURO

£1.00 GBP = 1.2990 USD

£1.00 GBP = 1.9445 AUD

£1.00 GBP = 2.1465 NZD

£1.00 GBP = 1.7970 CAD

£1.00 GBP = 1.1240 CHF

• 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