The pressure piles on for sterling
Sterling fell under pressure on Wednesday with GBP/EUR falling to its lowest rate in a month.
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Daily Currency Note
Stay informed. Stay in control.
Currency rates fluctuate by the second and can change by up to 10% in the space of a year. On a typical overseas money transfer, that's the difference between completing on budget and needing pay thousands more. Our daily notes keep you informed on every move in GBP, EUR and USD, so you can make confident decisions about when to lock in your rate.
Today's move
Thursday, 22 December 2022
GBP / EUR
▲ 0.18%
1.1676
A transfer of €300,000 would cost
£472 less
today than yesterday.
GBP / USD
▼ 0.14%
1.3450
A transfer of $350,000 would cost
£375 more
today than yesterday.
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A bright spark on the darkest day
Following its steep slide following the interest rate decision last week (or more precisely, the more hawkish messages on inflation coming from the European Central Bank) sterling has been struggling to gain traction against the euro. GBP/EUR remains…
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USD: Housing starts lowered slightly
In November, US Housing starts fell 0.5% lower to a seasonally adjusted annual rate of 1.427m, following a 2.1% drop in October. This is slightly higher than markets expected, with forecasts at 1.4m.
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EUR: euro at 1 month high
Yesterday the euro’s luck continued against the pound following a surge last Thursday when the European Central Bank announced an interest rate hike of 50bps. It is now trading just under 2% higher than at the start of…
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GBP: Retail sales figures expected to fall
Later this morning, the UK will hear from the Confederation of British Industry on the current health of the retail sector with distributive trades readings due at 11am. It is forecast to fall from -19 last month to…
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Pessimistic outlook continues for the pound
Three days into the week and the pound is yet to recover from the losses it incurred against the euro and US dollar following interest rate hikes from the Bank of England and European Central Bank last Thursday.…
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USD: US introduces incentive to reduce inflation
The US has just launched a $369bn Inflation Reduction Act (IRA) that incentivises investments in technology and green energy.
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EUR: EU energy officials set gas price cap
Yesterday, EU energy ministers reached an agreement to cap gas prices when they reach €180 per megawatt hours for three days.
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