Posted: 28 / 02 / 2025
Article by: Steve Eakins, Key Partner at Lumon, in collaboration with David Evans, Head of Private Clients at Sedulo
If you move money internationally, when was the last time your bank proactively helped you time your transfers?
Working with a specialist can save significant amounts—here are the latest currency market highlights:
Pound to euro rates has changed by over 2.5% in the last 30 days (1.21 at the central level)
There has been a host of better economic data come out recently for the UK. Last week’s 0.1% GDP growth eased recession fears, and this week’s dip in unemployment (4.4%), plus much better inflation data.
While the Chancellor won’t be celebrating just yet, this could boost confidence and ease pressure on Labour’s economic record. This has also important resulted in a reduction in the probability of the Bank of England cutting rates 3 times through 2025, boosting the Pounds value.
Good news if you are reading this and are looking to buy EURO or USD, this may be the time to review these options with rates at the best levels seen this year.
Pound to US dollar rates have changed by over 4% in the last 30 days (1.2610 at the central level)
President Trump’s ‘America first’ policy has been historically strengthening the USD making it more expensive to buy with the Pound. However since the delay in tariffs being implemented, and the recent optimism for ‘UK PLC’ buying USD has got over 4% cheaper in the last 3 days. Whether this is a short-term opportunity for you USD buyers, or a change in trend is yet to be seen. However, with a $500,000 USD purchase costing £20,000 less now, it has been a popular thing to review.
Considerations if you are planning a transfer internationally…
President Trump’s policies will continue to sell papers but watch out for anything regarding tariffs on UK or EU imports.
Will UK data continue to strengthen? Most rates are at a peak currently, will this trend continue to simply be a spike for those to take short term opportunity?