SG
AU
CA
HK
NZ
UK
USGet your currency market update
Prepare for market movements
Download the latest edition of the OFX Currency Outlook
Learn about the key factors influencing currency movements, global trade and how businesses can plan for the months ahead.
Complete the form for your free report and access to:
- A comprehensive review of key global currencies including: SGD, USD, EUR, GBP, AUD, HKD and JPY
- Analysis of global market drivers and dates to watch in the next quarter
- Historical and forecast data for the next 12 months to help you plan your currency strategy
- Actionable strategies to help your business mitigate FX risk and take advantage of market movements
Why businesses should see volatility as an opportunity to gain
Expansion in the current climate is tough, and keeping costs in check is essential, which means getting the right strategy is more important than ever.
"GBP/USD has strengthened from 1.2742 on June 23 to reach 1.2038 on August 11 but has fallen back a little to 1.2463 at the time of writing in September. Anyone moving money to or from US dollars needs to keep track of how the US dollar is performing, as it will make a big difference to costs if a large amount of money needs transferring.
For example, based on market rates, converting USD to buy £100,000 could have cost US$127,420 on June 23. But less than 2 months later on August 11 buying £100,000 could have cost US$120,380 – US$7,040 less. For those moving money into US dollars, the stronger the dollar is, the more costly the transaction."
Extract from report
Contact the OFX team
Transferring money internationally can be expensive and stressful. At OFX, we know it’s not just about bank beating exchange rates - that comes as a standard. The OFX difference is about providing your business with 24/7 human support and a trusted, secure service it can rely on.
Email: hk@ofx.com | Phone: +852 2777 7147
You may also be interested in
What to look for in an international money transfer provider
How to protect your business from foreign exchange exposure
