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USD/EUR at 5-year highs while GBP/EUR drops by nearly 3%.

The US Dollar has continued to strengthen, unlike the Euro and the Pound, which have remained under pressure.


The US Dollar is still the safe haven of choice. With intensifying fears over China’s covid lockdowns and its impact on the global supply chains causing more concerns for economic growth, investors are still seeking refuge in safe havens such as the US Dollar. Making it a great time to purchase your Euros.  

The war in Ukraine continues with no signs of a resolution. With fresh news that Putin will turn off the gas to Poland and Bulgaria, the Euro is coming under more pressure.

Economic data appears to be taking a backseat to these current affairs. ECB policymaker Martins Kazaks stated his preference to raise interest rates in July after the asset purchase programme (APP) ends. However, this appeared to have little effect on the Euro. Meanwhile, the US Dollar may see further support from a FED rate hike in May.

If you do wish to take advantage of the current USD/EUR rate, you can buy your Euros in advance of any payments, and Spartan FX can hold your Euros on account for your free of charge.


The Pound has taken a nosedive partly due to the mounting cost of the living crisis in the UK. At the moment the pound does not particularly look attractive to investors as the cost of living crisis is weighing heavy on the pound and the Bank of England’s less aggressive stance on rate hikes despite rising inflation.

GBP/EUR has dropped over 2% from April’s highs and nearly 3% against the 6-year highs seen in March.

On €200,000 that is a difference of £4,747.

There’s no real macroeconomic data of note out of the UK this week, so markets will likely already have one eye on the MPC’s policy announcement next week. While another 25 basis point rate hike is widely expected, the big uncertainty surrounds the bank’s view on the possible pace for additional hikes beyond next week’s meeting. This is shaping up to be a key event risk for the Pound.

With the Russia/Ukraine war continuing and economic growth concerns, it is important to keep an eye on the exchange rate and how it will affect your upcoming payments. Spartan FX can monitor the rate for you, and you also have the option of buying your Euros in advance of any completion dates.

If you wish to take advantage of the current USD/EUR rate or secure the price of our Euros against a falling Pound, you can buy your Euros in advance of any payments. We can hold your Euros on account for you free of charge, transfer them to your local Euro bank account or fix the rate with just a 10% deposit.

Speak to Spartan FX to find out your options and how they can help you take advantage of these recent rate spikes or protect your budget and secure the price of your Euros in advance. 

Call +44(0)203 984 0450 or submit an enquiry