December 2023 Monthly
Currency Report for SME’s

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Download Your Free Currency Report - December 2023

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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 – November in review

Hunt delivers, but only partially

  • Cuts to NI but tax burden remains
  • Sunak switches to Election mode
  • Bailey bemoans lack of growth
  • Sterling climbs to trend high versus weaker dollar

GBP – December what to watch

MPC to pause again

  • BoE to keep rates higher for longer
  • Pill wants Bank to retain tough stance on inflation
  • Economy to grow but only just
  • Sterling is unlikely to test major resistance

USD – November in review

Risks are now “balanced”

  • Powell sees risks as balanced
  • Inflation points to rates having become restrictive
  • Employment beginning to moderate
  • Dollar suffering from Fed uncertainty

USD – December what to watch

FOMC to deliver another pause

  • Fed to leave rates unchanged, but data will tell all
  • Growth data to continue to deny a recession
  • A soft landing is now a real possibility
  • Dollar index undervalued in comparison to G7

EUR – November in review

Economy continues to falter

  • Draghi predicts a recession by year-end
  • Dutch politics veers right
  • Inflation rose marginally in October
  • Single currency leading a charmed life

EUR – December what to watch

ECB to end PEPP

  • ECB to discuss an end to PEPP
  • A debt crisis is looming
  • Employment data to start to moderate
  • Euro to see 1.10 then falter

Don’t take our word for it.
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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