This week’s currency update!

Banking & Financial Tax & Social charges
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And here we are - this week’s currency news courtesy of our partners Lumon. And as it might well be a good time to move money around, don’t forget you can do so quickly and easily using the CURRENCY tab at the top of the page!

:earth_africa: KEY NEWS

*:uk: :arrow_right: :eu: Pound to Euro at 2½-Year High *

Weak Eurozone PMI data has pushed the euro lower.

GBP/EUR is resting at its highest levels since April 2022.

:pushpin: Buyers ‘budgets’ have gone up 4% since August. This is helpful if you’re buying now, or planning a viewing trip in the near future; meaning your search budget can possibly increase too. For example, if you have a UK budget of £500k, you now get €20 000 more compared to back in August this summer.

:eu: :arrow_right: :us: Euro to US Dollar at a 2-Year Low

The euro’s decline has pushed USD / EUR up 7.5% since October.

Right now USD-based buyers are in a really strong position when buying in France; an €800k property is now nearly $60k cheaper than 50 days ago.

:shield: As a reminder, Lumon are a property savvy currency brokerage offering a number of tools including forward contracts which are effectively ‘buy now, pay later’ options. This means clients can lock in rates even before finding a property or when funds aren’t yet available.

I hope this is useful and have a lovely weekend everyone!

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Okay, okay, I know I have been a bit remiss on this one but I PROMISE (eh @SteveEakins !), that this is going to be a regular Friday thing from here on in….!

Anyway, here’s this weeks update:

:chart_with_downwards_trend: UK Interest Rate Cut Prediction Update

There is now an 85%-90% expectation of an interest rate cut in February in the UK :bar_chart:. Something to be aware of over the next few weeks. Additionally, there is now a 60% expectation of three interest rate cuts in the UK this year :pound:.

This has driven the value of the Pound down as investors forecast lower returns :chart_with_downwards_trend:, reducing demand for the currency. And this makes international holidays more expensive :palm_tree::airplane:,

If you move money internationally, it’s certainly something to be aware of and plan for; it could make a real difference.

If this is you, don’t hesitate to have a chat with @SteveEakins our resident currency specialist.

Have a lovely weekend everyone!

Cat x

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Pound has been steadily going up vs the Euro for a while now. It jumped last night and is continuing to rise this morning almost certainly due to US tariff announcements for the EU. I have a chunk of money to transfer to France so will be keeping an eye on it. In saying that, it’s its only really getting back to where it was at the beginning of January.