This week’s Currency exchange news

Understanding what is happening with international exchange rates is an essential part of buying or selling a property in Spain. With many international buyers it is vital to know how these movements can affect the process, let’s take a quick look at what has been happening this week in the markets

The British Pound has lost value against all its G10 peers over the past month with losses accelerating in the previous week. In fact, the 2023 uptrend in Sterling appears to have ended alongside the Bank of England’s interest rate hiking cycle. Turning to the data calendar, markets face a quiet week in the UK and therefore will be poised to follow risk-on / risk-off sentiment.
The Euro was relatively flat this morning, still consolidating its recent moves. Looking forward, Eurozone inflation due Friday will be of great interest in light of the ECB’s September decision to halt its rate hiking cycle. Note, German inflation is due the day before and recent history has told market participants that this can have a greater impact given it tends to set the tone for the Friday release.
The US Dollar stands tall near its highest level in more than six months and remains well supported by the Federal Reserve’s hawkish stance. In fact, the Fed emphasized the need to keep interest rates higher for longer to push inflation back to the 2% target and lifted market bets for at least one more 25-bps hike by the end of the year.
If you want to exchange currency safely and for the best rates, just click here

To read more articles about buying and selling safely in Spain, just click here

To see videos about buying and selling safely in Spain, visit our YouTube Channel here

More Posts