What can the Commonwealth Games teach us about the currency market?

Six people in business clothing lines up and in position to run a race around a track.

Even in an established field, the ups and downs of currency values can be as hard to predict as the medal winners Australia is currently heading up the medal table at the Commonwealth Games; they may have the home advantage but the dominance of the Aussie team in the pool is the real reason they’re currently leading the pack. The host country’s swimmers have achieved 73 medals in total, a significant improvement on the 57 medals the swim team brought home from Glasgow in 2014. Only England’s Adam Proud stopped their achievement from being a clean sweep, taking the gold in the 50m freestyle just as he did in the 2014 Games.

How to tell if a currency will be a winner or a loser

When it comes to currency markets, there are some similarities with sport – the markets fluctuate, sometimes in ways that analysts expect and sometimes because of an unexpected event or an outlier which has an impact on the value of the currency. It’s possible to track the winners and losers over the last four years by comparing currency values against the pound or the US dollar but that doesn’t give the whole picture; the market is volatile and currency values change on a daily, sometimes hourly basis.

Take control of your international payments

So how can you stop your international transfers having the nail biting finish of a Commonwealth final as you wait to see whether your exchange will leave you a winner or a loser? A specialist provider can provide expert support which can save you time and worry. That’s why we’ve teamed up with moneycorp to bring you Telegraph International Money Transfers.

Benefits of a specialist currency service

  • Market guidance – the currency market is constantly fluctuating, and it can be hard to get to grips with the ups and downs of the foreign exchange market in a way that helps you manage your budget. A specialist can provide guidance and information via email and text alert to help you keep on top of the market.
  • Specialist tools – a specialist can also provide guidance on which tools might work for you – from urgent transfers to automated regular payment plans, targeting specific rates or even fixing a rate for a period of up to two years to provide more certainty in the cost of your transaction.
  • Competitive exchange rates – Poor transfer provider rates can end up unnecessarily adding hundreds of pounds on top of the cost of transactions and your high street bank may not provide the best value options
  • No fees – while high street banks may charge up to £40 per transaction, Telegraph readers can enjoy fee-free transfers online and over the phone. If you’re making a number of payments throughout the year, those fees can really add up and a fee-free service is a great way to make the most of your money.

Telegraph International Money Transfers provides you with an expert service that delivers real value and helps you understand and manage your money abroad

moneycorp is a trading name of TTT Moneycorp Limited which is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 (reference number 308919) for the provision of payment services.

The above article was created for Telegraph Financial Solutions, a member of The Telegraph Media Group. For more information on Telegraph Financial Solutions click here