The pound weakened at the tail end of last week in the aftermath of the interest rate decision from the Bank of England and – more importantly – the upbeat comments on inflation from the governor Andrew Bailey.
Over the course of Thursday morning to Friday evening GBP/EUR lost well over 1% but has recovered slightly and is currently just under half a percent weaker than last Monday.
It’s a similar pattern against the US dollar but with the losses bigger; GBP/USD is 1% down on last week.
Still, the pound remains well up against both compared to last spring. So to fix that rate for the year ahead, covering both the spring and autumn ‘traditional’ property buying periods, you can just call your account manager on 020 8108 5163.
What might hit exchange rates this week? It’s relatively quiet for economic data from this side of the equation, but there is a final result for GDP (gross domestic product) on Thursday that has the potential for a final jolt to sterling before the Easter break.
There will also be comments from central bankers, including the European Central Bank’s Christine Lagarde, that could be disruptive.
As ever, your account manager is available on the phone to talk through your plans, whether property buying, wealth management or an overseas move. Just give them a call.
