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The Pound got an unexpected lift this week.
It was a bad news equals good news thing.
Investors have been anticipating a cut in UK interest rates could be possible given that inflation has been dropping considerably.
In fact, money markets had been pricing in that the first cut could come as early as May next year.
However, the Bank of England is having none of it.
The party poopers at Threadneedle Street made some pretty dour statements, including the surprisingly clear “it is far too early to be thinking about rate cuts”.
It’s given the Pound a shot in the arm (higher rates equals higher currency).
The Pound has been struggling against the Euro recently, but this latest news managed to break the downtrend.
Against the US Dollar, the Pound already had upward momentum and now sits near 2-month highs.
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.
There’s always something brewing in currency markets.
It pays to be alert to news and events.
If you would like to speak to a member of our team, call us on 01872 487 500.
To find out the latest rates, click below.
Benefits of using Key Currency:
- Great exchange rates
- Quick and easy transfers
- No transfer fees
- Expert help and guidance
- Authorised by the FCA
Current rates:
Wednesday 22nd November 2023 at 09:45
£1.00 GBP = 1.1490 EURO
£1.00 GBP = 1.2534 USD
£1.00 GBP = 1.9116 AUD
£1.00 GBP = 2.0778 NZD
£1.00 GBP = 1.7182 CAD
£1.00 GBP = 1.1078 CHF
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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
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As always, there’s plenty happening
Euro hits 6-month highs as Dollar hits 2-month lows
Some pretty big moves of late…
The Euro has been a winner recently.
EUR/GBP briefly hit 6-month highs late last week before some profit taking kicked in.
Why? Well, that’s less clear.
You could say the Euro is the ‘least worst’ of the majors at the moment.
The UK is struggling with soft economic data and has the highest inflation of the major, developed economies. A bit of political instability isn’t helping the Pound either.
The US Dollar has lost some sparkle too.
It’s sitting around 2-month lows against the Pound.
With lower job creation and inflation in the US, markets now think the Fed will sit tight for a while.
We also note that there is a US election next year and the Fed won’t want to cause a recession (and lose their jobs).
As always, there’s plenty happening.
It’s why exchange rates rarely sit still for long.
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.
We can assist you with your currency requirements, please do get in touch.
You can call us on 01872 487 500.
To learn more or find out our latest rates, click below.
Benefits of using Key Currency:
- Great exchange rates
- Quick and easy transfers
- No transfer fees
- Expert help and guidance
- Authorised by the FCA
Current rates:
Wednesday 15th November 2023 at 10:30
£1.00 GBP = 1.1486 EURO
£1.00 GBP = 1.2470 USD
£1.00 GBP = 1.9150 AUD
£1.00 GBP = 2.0648 NZD
£1.00 GBP = 1.707 CAD
£1.00 GBP = 1.1082 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
New Automatic Visa for Second Home Owners
Or at least the possibility of one!
France’s upper house of parliament has decided to approve a bill giving British second-home owners an automatic long-stay visa right without any formalities.
The bill will be debated by députés (similar to British MPs), at the Assemblée Nationale in December. It can only be finalised and approved after that process.
The idea is that British second home owners will be able to spend more than 90 days out of 180 days (currently the maximum time allowed following Brexit), in France without making a formal application for a ‘temporary long-stay visa’.
British second home owners would then be able to travel freely to and from their second home without having to complete costly and complicated forms for long stay visas.
Until the new bill is debated and finalised we don’t currently know exactly what will be required in terms of proof of ownership, or other documentations to qualify, but it is starting to sound like some good news for those with second homes in France! Watch this space…
Want to learn more about living in France Post-Brexit?
You can download our guide by clicking the button below.
Kind regards,
David Evans
Co-Founder of Cle France.
For everything you need to know about French property visit www.clefrance.co.uk
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