Market insights

Market Comment - 26th May 2022

Good morning,

As expected the Government is set to announce a £10 billion aid package today. £7 billion of this will come from a windfall tax on the energy companies and is expected to be offered as a grant for the worst hit in the cost of living crisis.

The head of the World Bank has also warned of the possibility of a global recession. This probably doesn't come as much of a shock to most people based on the ongoing rhetoric around the Ukraine conflict and the rising cost of living.

Aside from that Pound rates remain fairly consistent with the close yesterday with no real fireworks overnight.

Today sees preliminary GDP data out from the US later and this looks to be the only scheduled news out that could affect Dollar rates. The announcement from Rishi Sunak could also move things, but the report has largely been released.

As ever we look forward to keeping you in the loop and look out for our next update.

Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.

Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.


Today’s Economic Calendar

US: 13:30 Preliminary GDP Data

Open a Personal Account

Open a Business Account

Get your free quote now

Economic calendar

Open a free account

It is free and easy