Victoria Street FX

Victoria Street FX We offer the best exchange rates for all major currencies; based in the heart of Victoria, SW1E just outside the District & Circle line Underground Station

We are a 0% commission, no fee currency exchange bureau with 2 branches in Victoria, London, just a few minutes away from the Victoria Train, Coach, Bus and Underground stations.

For more currencies and our live exchange rates, please visit our website;www.victoriastreetfx.com. *T&Cs apply.Victoria...
19/06/2024

For more currencies and our live exchange rates, please visit our website;
www.victoriastreetfx.com.

*T&Cs apply.

Victoria Street Fx | Victoria FX Change | Bureau de Change | Currency Exchange | Money Exchange | Cambio | Foreign Exchange | Travel Money | Buy & Sell US Dollars | Buy & Sell Euros | Swiss Francs | Japanese Yen | Australian Dollars | Canadian Dollars | London Victoria | Order currencies online

23/09/2022

Despite the prolonging GBP depreciation and the interest rate hike yesterday,
WE ARE SELLING USD @ $1.115/£ and Euros @ €1.13/£ today!

Call or Whatsapp us on 020 7828 3482 for more information or just place your order online now!

12/08/2022

After the rates were raised by 50bps, the BoE delivered a very pessimistic outlook since COVID mentioning that the UK is set to enter a multi-quarter recession with inflation reaching a maximum of 13.3%. Figures show a small growth in the economy, which will soon be affected by high energy bills. The pound still remains strong amongst this news with GBP/USD reaching a high of 1.2280 on Wednesday, but had slipped 100 pips by yesterday evening.

Euros have also been strong this week. EUR/USD recovered from falling under parity and moved over 1.0350 due to the dollar's weakness. Germany's inflation has remained high but has not gone higher than 8.5% (which is last month's report). This remains a slightly calming report to everyone.

08/08/2022

U.S Labor market is showing no signs of softening at the moment, cementing the expectations for a higher rate increase by the Fed .Overall unemployment rate dropped from 3.6% to 3.5%. These labor reports help distract any talk about any imminent recession in U.S. Oil finished the week at its lowest point since February due to a weaker demand in comparison the supply constraints for the first time in a while.

GBP/USD moved back below 1.2100 after the pessimistic outlook from the Bank of England after raising rates by 50bps. EUR/USD drifted below 1.0200 but remains well above key parity region for now. German Inflation continues to affect the Euros.

05/08/2022

The Bank of England raised the UK interest rates by 50bps to 1.75%. for the first time since having independence over UK monetary policy in May 1997. This move has the BoE bracing for a potential deep recession by the end of this year and that inflation will hit a peak of 13.3% by October this year. The pound took a hit from the BoE rate hike and GBP/USD
slipped from above 1.2200 to around 1.2065 before moving back over 1.2150. GBP/EUR slipped from around 1.1980 before the rate hike to 1.1850, before recovering towards 1.1900 after the rate hike.

Euros have been more moderate with EUR/USD managed to remain above 1.0100 without moving above 1.0300 throughout this week.
GBP/EUR have been more volatile, mostly due to the pound's influence.

ISM Manufacturing Prices Paid index dropped heavily from 78.5 to 60. This a good indicator of weaker inflation in 4-6 months, which is good news for the U.S. The dollar has mostly been on a positive run with fluctuations.

05/08/2022

On Thursday, the Bank of England announced an interest rate hike of 0.5% as a response to combat the rapidly increasing rate of inflation as well as the pressure to move quickly and boldly following many other central banks (such as the U.S Federal Reserve and the European Central Bank).The interest rate now stands at 1.75% and the BoE has raised the
rates six times since December, however this has been the biggest one since 1995. This move has weakened the pound& #39;s value and this may also add to inflation. The UK will enter five consecutive quarters of recession with GDP falling as much as 2.1%.

The National Institute of Economic and Social Research (NIESR) predicted the nation would slide into a recession this week The bank of England's previous prediction is a significant underestimation of 11%, whereas it could in fact reach 15% by the start of next year.

Equities will also take a huge hit due to the possibility of stagflation where the growth of the economy plateaus while inflation continues to increase.

Although higher interest rates help control inflation there are concerns about the negative impact of raising the interest rates too. The impact of this action will be heavily felt in households as fuel and energy prices soar due to the ongoing war in Ukraine.

03/08/2022

Given the particularly weak look of the German economy, the German and Euro area Composite reports have fell below the key 48 threshold. The UK Composite looks vulnerable to break below the 50 level, similar to the U.S. EUR/USD briefly broke towards 1.0300 yesterday although the markets did have a nervous disposition due to tension increasing
between U.S and China after the U.S official, Nancy Pelosi visited Taiwan.
The pound retreated from the high against USD of just under 1.2300 yesterday afternoon.

GBP/USD traded within 20pips of 1.2300 without breaking higher for 2 days in a row. GBP/EUR continues to reach higher as the top of 1.1990 yesterday, a level not broken since mid-April. USD reacted positively to the more cautious risk environment, however USD/CAD goes against this trend as oil prices continue to increase.

02/08/2022

The latest U.S ISM manufacturing PMI came out at 52.8, which is slightly better than the predicted 52 but down from the 53 last month. The price pipeline is getting weaker with how the "prices paid" component dropped from 78.5 to 60 in June, but there is potential for inflation to slow down further in the future as Consumer Price Index (CPI) is generally lead by the prices paid between 4-6 months.

The broad dollar index (DXY) went below 105.00 for the first time in a month. GBP/USD continues with the recent gains over 1.2000 with a maximum of 1.2300 yesterday. EUR/USD moved back over 1.0250 yesterday. Long-term UK consumer inflation had fallen from 4% to 3.8%. This was the first drop in 4 months.

01/08/2022

It is markets' interpretation is that the Fed is very unlikely to raise U.S rates at an aggressive pace moving forward. The dollar index declined from a 109.00 high to just above 105.00 on Friday. The tight labour market has boosted assurance of the overall US economy even if
housing market and consumer confidence does seem to arise as a weakness. However, if signs of weakness emerge in the labour market, there will be the much dreaded fear of stagflation. EUR/USD finished last week above 1.0225 and throughout the week it managed to remain above 1.0100.

The chances of hiking the rate up by 50bps this week for the pound have increased, despite this, there may be some split decisions amongst MPC members. The pound has been better these past two weeks and GBP/USD have now moved a little above 1.2000 firmly. The rally
in GBP/EUR above 1.1900 also means that the GBP is outpacing the Euro due to challenges in Europe.

29/07/2022

The BoE have raised UK interest rates five times now since the end of last year. The surging inflation alone should prompt a bolder rate hike, however the widespread higher prices will hurt the pockets of those who need it the most. Although inflation increases, the pound has fared somewhat better with GBP/USD now sitting above 1.2000, which was because of the impact of the dollar. GBP/EUR has also rose slowly upwards towards 1.1950, suggesting a widespread strength of the pound.

The higher energy prices have driven the Europe's largest economy's inflation to rise unexpectedly. Especially given that Russia is now looking at cutting gas supplies through Nord Stream 1, inflation is likely to stay high in Germany and Europe as a whole. After the parity battle over the previous weeks, EUE/USD has spent this week between 1.0100 and 1.0275.

The latest growth figures confirm that the U.S economy has entered a technical recession 24 hours after the Fed raised the U.S interest rates by 75bps for the second month in recession. The Fed are not tempted to raise the rates higher at a faster pace despite the surging inflation.

28/07/2022

The FOMC raised U.S interest rates by a further 75bps , bringing their target range up to 2.25-2.5%. Jay Powell has highlighted that inflation has continued to be disappointingly high and that the Fed will be paying close attention to it when making decisions on future rate increases. He also mentioned that the Fed has been seeing signs of economic slowdown and that the housing market is a big area of concern, given the rate hikes. Powell suggested that the Fed will likely not take up forward guidance and will approach the issue meeting-by-meeting in order to be more flexible.

The dollar slipped back below 106.00. GBP/USD fixed it's recent gains above 1.2000, marking a near high near the 1.2200 region. EUR/USD pulled further away from parity and broke over 1.0200. This was a similar pattern with other major cross currencies, with even yen marking a gain against the dollar. GBP/EUR is now back over 1.1900 as the pound out-rallied the single currency again.

26/07/2022

The rate of inflation is increasing in Germany, however, the fear of a gas crisis overtakes as although Russia has resumed deliveries of Nord Stream 1 after a lengthy maintenance, there is a widespread fear that Putin may restrict supplies again. As well as with the worries over the broader global economy such as the fear of an oncoming U.S recession, business confidence is growing weaker in Germany.

EUR/USD did slip lower after reaching a high near 1.0260, but the decline was limited around 1.0200.

GBP/USD moved as high as 1.2086 yesterday, marking a three week high in the process. GBP/EUR briefly went above 1.1800 but did not follow through.

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