May 2024 Monthly
Currency Report for SME’s

Energy, Experience, Expertise. Download Your Corporate Foreign Currency Exchange Report

Download Your Free Currency Report - May 2024

Fill in your details below to receive your digital copy:

Tell us what’s your preferred currency pair, so we can personalise our emails for you:

How often would you like to receive exchange rate updates?**

By clicking submit below, you consent to allow CurrencyTransfer to store and process the personal information submitted above to provide you the content requested.

Protect Your Business with Monthly Currency Reports

Our free monthly currency exchange report aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX business. Read more about the impact of exchange rates on international commerce.

Download our free monthly currency report and to keep up to date with key events throughout the month. The free currency reports analyse historical charts and provide the basis for discussion with stakeholders across your foreign exchange business. The monthly currency report provides a useful resource and meaningful insights for currency risk management policies.

For more helpful information for small and medium enterprises, check out our guide to trade finance for UK SMEs.

GBP – April in review

Sunak has a plan

  • Inflation is still “sticky”
  • MPC members still see no hurry to cut rates
  • The IMF warns over rates
  • Sterling recovers as rate hopes fade

GBP – May what to watch

Date for first cut is uncertain

  • Local elections will determine the General Election
  • May MPC meeting to give more clues on rate cuts
  • Wage increases are expected to begin to fall
  • G7 rate prospects solely drive sterling

USD – April in review

Rate-cut predictions lowered

  • Powell believes the fight may “take a little longer”
  • The economy may be beginning to slow
  • Congress approves more aid for Ukraine
  • The dollar ran out of steam as data is unclear

USD – May what to watch

A cut in June is back in focus

  • FOMC dot plot to see the number of cuts reduced?
  • Will the FOMC adopt a more dovish tone?
  • Jobs data critical to the Fed’s decision
  • The dollar stumbles as geopolitical risks fall

EUR – April in review

ECB is looking to delay a cut

  • Lagarde is less positive about a June cut
  • The Eurozone recovery is slow but positive
  • Germany upgraded its growth expectations for 2024
  • The euro is still in a range

EUR – May what to watch

A rate cut may be delayed

  • How much guidance will the ECB provide on “D-Day?”
  • Holzmann is still making hawkish comments
  • Confidence is improving but remains fragile
  • What does digitisation mean for the euro?

Don’t take our word for it.
see what others are saying

The best I've found

I just completed my first transaction (GBP to USD) with CurrencyTransfer and I will certainly be coming back whenever I have a currency need. Account setup was smooth — even with all the regulatory hoops. They were efficient, responsive, flexible, and the web-based trading interface gave me an excellent rate, close to spot. Once I'd settled the trade, the funds we're transferred to the destination bank almost immediately. What more could you want?

Daniel R

United States

Highly customised support

Used in connection with a house purchase in France. Involved a mixture of forward and spot transactions, and several adjustments to take into account changing deadlines. The team there provided a highly personalised service, pulling out all the stops to ensure the funds arrived on time after delays elsewhere. Would highly recommend for complex, high value transactions, and am planning to use them regularly from now on to top up my French bank account.


United Kingdom

Excellent Service

I have made two transfers so far and all has gone smoothly. Good exchange rates when compared to other exchange sites, and notifications at every step to keep you informed. Queries, if you have them, are answered promptly via personal email. So far excellent service.

Peter K