News

You can see our currency news market reports, published daily, on this page. Jargon-free and with our archive back to 2011, bookmark this page to stay on top of the latest currency news relating to your transfers.

Will the Pound continue upwards?

28 July, 2011

CurrencyIndex

The Pound has had a fantastic run in the last 10 days, yielding the best exchange rates for Euros, Dollars and a basket of other currencies, that we have seen this year.

Is it set to continue? There is no easy way to tell of course, and with no major data releases today, there is unlikely to be much further movement until tomorrow morning’s UK trade balance figures at 9.30am. Wednesday’s quarterly inflation report will be more important still.

If you need to send money abroad it’s easy to assume that exchange rates will continue on their way back up. But don’t forget the UK’s perilous economic situation – just one piece of bad news can knock confidence in the market and drag the Pound back down to where it came from.

The main thing to remember is that a specialist currency company can help you through the whole transaction as well as offering competitive exchnage rates. Anyone needing to buy or sell currency should get in touch sooner rather than later.

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Exchange Rates Up on Bank of England cut

28 July, 2011

CurrencyIndex

Exchange rates for Euros, Dollars and many other currencies are up this afternoon – the Bank of England cut UK interest rates, but only by 0.5%, giving the Pound a welcome boost on top of this morning’s news that house prices were up in January.

The UK is still heading for a deep recession but some good news means that currency brokers can now offer the best exchange rates seen for some time. This could be a spike in the market, so if you need to send money overseas, have a think about getting a fixed exchange rate now.

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Interest rates today

28 July, 2011

CurrencyIndex

Today sees the Bank of England and European Central Bank both announcing their monthly interest rate decisions.

If the BoE cuts rates at mid-day, you might expect to see the Pound weaken and for those of you who need to send money abroad that would not be good news.

However, Euro exchange rates will also be affected by the ECB’s announcement 45 minutes later, which could swing things either way.

Whatever happens, make sure you are in touch with an experienced dealer at a currency company who can help you with your individual requirements.

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Pound drifting back down

28 July, 2011

CurrencyIndex

After a surge last week and on Friday, the Pound today has fallen back a little giving slightly worse Euro rates and Dollar rates for those of you needing to make international payments.

However, exchange rates are still above 1.10 (€) and 1.43 ($) on international money markets, much better than just a week ago for buying Euros in particular.

Spikes in the market like this are not uncommon during these volatile times, get in touch with an expert currency broker to make sure you are aware of the day-to-day movement which can affect your payments so much.

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Canadian Interest Rates Cut

28 July, 2011

CurrencyIndex

The Bank of Canada last week cut interest rates from 1.5% to just 1%, in line with many other central banks around the world.

Normally an interest rate cut would be good news if you need to send money to Canada, however as the move was wideley expected there was little cheer on Canadian exchange rates.

Things have improved slightly in the last 2 days, but as the Pound is still under pressure on international markets, it may be that your rate gets worse before it gets better.

A reputable currency company will help guide you through these volatile times – make sure you don’t leave your exchange rate to chance.

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Exchange Rate Improvement

28 July, 2011

CurrencyIndex

The Pound is up today on the back of a successful government auction of gilts (UK debt).

Confidence in the UK has been fragile in recent weeks, but this morning investors returned to buy UK assets and as a result the Pound has seen a boost.

That means if you are buying currency to send abroad, there’s a spike in exchange rates which is obviously good news.

There are further announcements due this week which could weigh heavy on the Pound, so get in touch with a currency broker to make sure you do not miss out on any opportunities in the market.

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US Interest Rates Tonight

28 July, 2011

CurrencyIndex

Tonight the Federal Reserve’s FOMC announce the monthly interest rate change in the USA.

While the Fed currently has low interest rates at 0.25%, there is not much room for any further cuts. However, the accompanying statement is just as important, as it gives the central bank’s outlook for the US economy – which in turn is likely to affect US dollar exchange rates.

Money transfers to America have become more expensive recently, as the dollar rate has fallen from $2 last year, to below $1.40 to the Pound. A slight recovery in recent days has helped ease the pain.

If you do need to buy US dollars in the coming days, weeks, or months, make sure you speak to an expert currency broker who can help you keep the costs down as much as possible.

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Money transfers to New Zealand

28 July, 2011

CurrencyIndex

New Zealand Dollar rates are likely to show some volatility this week – the Reserve Bank of New Zealand (RBNZ) announces its latest interest rate decision on Wednesday.

Currently rates are set at 5%, and a cut to around 4% is expected. Expectation of a rate cut has led to a weaker dollar – and better exchange rates for money transfers to New Zealand.

Of course, if the RBNZ doesn’t cut interest rates as much as expected, you could expect exchange rates to worsen accordingly.

Make sure you have a UK currency broker like Currency Index looking after you if you are moving to New Zealand, or sending money out there for any reason. Don’t forget, you can book exchange rates up to 2 years ahead to help keep your costs under control.

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South Africa Rand Rates

28 July, 2011

CurrencyIndex

ZAR rates eased higher this morning on the back of a stronger US dollar and falling Government bond prices.

Sending money to South Africa from the UK is now over 1% cheaper than on Friday.

If you have a transfer to make in the coming weeks, make sure you are in touch with a reputable currency company who can keep you up to date with the latest developments.

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Pound battered by bank bailout

28 July, 2011

CurrencyIndex

The Pound has suffered another awful time this week, as investors lose confidence in the UK economy following the government’s second round of banking bailouts this week.

Euro exchange rates are tumbling towards their all-time low set 2 weeks ago, while buying US dollars has become the most expensive since the 1980s.

Transferring money to Canada, South Africa and Dubai is also now much more expensive.

With no sign to the end of Britain’s economic troubles, we are unlikely to see dramatic improvement in the short term. If you need to buy a large quantity of currency, for example for an overseas property purchase, make sure you are in touch with a specialist currency company to discuss your options.

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