June 2023 Monthly
Currency Report for SME’s

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Download Your Free Currency Report - June 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 – May in review

Recession risk fades

  • IMF upgrades UK growth forecast
  • Inflation falls into single figures
  • Bailey admits to fears over wage-price spiral
  • GBP continues medium-term advance

GBP – June what to watch

Rates to continue to rise

  • BoE not likely to pause after inflation data
  • Hunt is unlikely to approve tax cuts this year
  • Housing prices to contribute to economic confidence
  • Pound supported by possible rate hikes

USD – May in review

Debt ceiling a “red herring”?

  • Debt ceiling agreement must be “sold” to Congress
  • Employment fall supports a soft landing
  • Powell adopts a more dovish stance
  • Falling risk appetite supports dollar

USD – June what to watch

Congress may jeopardize economy

  • Kashkari leaning towards supporting a pause
  • Uncertainty over debt ceiling to bring chaos
  • Weekly jobless claims likely to continue to rise
  • FOMC pause may see dollar correct further

EUR – May in review

Hawks remain in control

  • De Guindos believes that hikes are coming to an end
  • Inflation remains “sticky”
  • Unemployment rises but is still very low
  • Single currency retreats from 1.10 watershed

EUR – June what to watch

At least two more hikes likely

  • Governing council hasn’t discussed a pause yet
  • Construction sector suffering a major contraction
  • ECB committed to reaching a restrictive state
  • Only continued rate hikes will support 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 Currencytransfer.com 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.

Alex

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

Spain