Exchange Rates Boosted by Bank of England and House Prices

  • 15 years ago
  • Uncategorized
A welcome boost for the Pound – UK interest rates have fallen, but only by 0.5%, the minimum expected by analysts. Data out this morning also showed a surprise jump in house prices in January, which has helped give the Pound its best day in some weeks.
Euro exchange rates are now at their best so far in 2009, so sending money to Italy, Spain or Portugal is finally slightly less painful.
However, with the UK still heading into a deep recession, buyers should be aware that this may well be a temporary spike which could be worth taking advantage of.
Specialist currency companies can fix and secure rates up to 2 years ahead.
The European Central Bank kept its interest rates on hold today, and earlier this week the Reserve Bank of Australia cut its interest rate to 3.25%, which has weakened the AUD, giving the best Australian Dollar exchange rates so far this year too.

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