Sterling’s positive spring continued yesterday, with GBP/EUR reaching its strongest position since the summer of 2022.
However, sterling against the euro is still only marginally above the levels it reached in January, so could the recent gain be as good as it gets? If so, today you can lock in a rate that is well over 2% stronger than this time last year, and close to 3% above the five-year average, with a call to your account manager on 020 7898 0541.
The election campaign and the start of lower interest rates from all the main central banks are certainly creating a tricky arena for anyone about to make a large international transaction. Fortunately, there is help available from your account manager, whether you are transferring wealth, receiving a pension, or buying or selling a property abroad. So why not give them a call?
This week is relatively quiet on the data front, from the UK at any rate. But given we are operating in a global market, your money, unless you choose to protect it with a forward contract, will be being buffeted by data from across the globe.
This afternoon there is German inflation, which will steer the hand of the European Central Bank and affect GBP/EUR. On Thursday there is data on the growth of the US economy which may affect GBP/USD. Then on Friday there is inflation data from across Europe again.
So, given that sterling’s near-two-year high is based on a fairly flimsy basis, before committing to any international transaction based on today’s rate, do call your account manager.
