Pound Sterling exchange rates have been extremely volatile in 2015 with the Pound now at multi-year highs against a number of currencies. Understanding what drives your exchange rate will help you to get the best deals! To speak to one of our team about your situation and what strategies are available to navigate such volatility please call us on 0800 328 5884 or request a free currency exchange quote.

How will Sterling exchange rates perform this week?

Sterling has been rising recently on speculation the Bank of England will raise interest rates in response to improvements in the UK economy. Attention is on economic data this week as we get the latest UK GDP (Gross Domestic Product) data for the UK tomorrow morning. This is the first revision for the second quarter of 2015. Growth is actually predicted to have dipped down from 0.4% and this might see Sterling run into some trouble when the data is released at 09.30 tomorrow morning.

With the Pound at near 8 year highs against the Euro, six years highs against the Australian Dollar and 7 year highs against the Canadian Dollar it would be a real shame for anyone buying these currencies with Sterling to miss out. Call one of our experienced and knowledgeable team on 0800 328 5884 to discuss exactly what you can expect on your rate this week.

Sterling to Euro Exchange Rate Forecast

This week sees a number of key Eurozone economic data releases which are likely to move Sterling to Euro exchange rates. The Euro is actually predicted to get stronger and more expensive this week as investors see improvements in the Eurozone economy.

Datawatch – German IFO Survey just released at 9.00 this morning will likely set the pace for the Euro before headline data this week on Friday which is Inflation and Unemployment data. Inflation data is a measure of the rise and fall in the prices of goods and services. So far in 2015 inflation has been a problem with prices in the Eurozone falling. This week economic data is projected to show inflation rising which will show the measures the ECB (European Central Bank) have taken are working.

Unemployment has been stubbornly high and it will be interesting to see just how much the recent lack of confidence in the Euro has fed through into unemployment. Friday could see some excessive volatility on the Euro currency so if you are concerned about losing on the value of your transfers speak to one of our team today so that we can monitor the market for you and make sure you don’t miss out.

Important week for the Pound to Dollar

This week sees the release of the Federal Reserve Interest Rate decision and Policy Statement on Wednesday which will be a key market mover not just for the US Dollar but also most other currencies. Investor attitudes to the US economy can influence their decisions on a range of investments. For example if it looks likely the Federal Reserve will be raising their base rate this year we should see the USD rise and funds will arrive from other currencies e.g. Sterling and the Euro. If you are buying or selling Dollars or any currency please get in touch today to speak to one of our team as this is the most important release of the month for the dollar!

Will GBPAUD rates rise or fall this week?

The Australian economy is dependent on Chinese demand for raw materials and currently the Aussie looks set to weaken further as Chinese demand has been falling. Any dips in the value of sterling could be a great opportunity to sell AUD for GBP as the longer term prospects appears to favour the pound.

For more information please feel free to contact me directly on jmw@currencies.co.uk.

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Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.