How will the bank holiday impact GBP/EUR rates? (Joshua Privett)

With the Bank holiday just around the corner, those who have been involved with currency for a long time will be aware of the irregular effects this brings on GBP/EUR exchange rate movements for the day.

The bank holiday is only in the UK, so Europe and the rest of the world will continue their normal activity whilst UK traders like myself are forced to the sidelined.

Given the current situation in the UK, it seems likely that this will lower the value of the Pound if current trading patterns are taken into account.

With the uncertainty around the Brexit dominating the chatter and discourse surrounding the Pound, it is struggling to find support.

The Pound’s most stable supporting feature at the moment is its ties with the popularity of UK financial markets. The recent QE programme announced by the Bank of England has had many clamouring for UK based stocks due to this commitment to stability shown by the BOE.

With demand for UK based stocks comes demand for the Pound as a corollary in most arenas.

However, with the bank holiday, and UK financial institutions closed, a fundamental reason for Pound demand will be removed, and as such a gradual decline in GBP/EUR will not surprise most market participants.

However, Euro buyers will likely see a turnaround as early as Tuesday with the release of UK consumer credit and recent mortgage approval figures.

Retail sales figures have been through the roof, and with the reduction in interest rates earlier in the month the scramble for mortgages whilst they are at record levels of cheapness will likely produce data which shines brightly for the Pound.

I strongly recommend that anyone with a buying Euro requirement should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer in order to maximise your currency return.

I have never had an issue beating the rates of exchange offered elsewhere, so a brief conversation could save you thousands on an upcoming transfer.

You can also fill out the form below and I can contact you as soon as I am able.

Sterling continues to rally vs the Euro (Tom Holian)

After hitting close to 3 year lows to buy Euros with Sterling earlier this month the Pound has started to fight back against the single currency.

The fallout from the Brexit has seemingly not been as bad as expected with UK economic data showing signs of strength.

UK retail sales helped to kickstart the recovery and combined with strong UK consumer confidence figures as well as growth for the UK economy published yesterday at 0.6% things look fairly healthy for the British economy and this is being reflected in Sterling exchange rates.

The Pound has moved above 1.17 during Friday’s trading session and those waiting to sell Euros may have missed the opportunity to sell at 3 year lows vs the Pound.

Clearly the uncertainty surrounding the vote to leave the European Union has not boded well for the Pound and the lack of a timeline as to when the UK government may trigger Article 50 is not helping.

However, the UK economy has shown signs of resilience and if the data continues to remain positive then we could see the Bank of England hold off from making any further interest rate cuts or further QE and this could help to strengthen the Pound vs the Euro.

Therefore, if you’re considering selling Euros to buy Sterling and are in the process of selling a property overseas but have not yet completed it may be worth looking at buying a forward contract which allows you to fix an exchange rate for the future for a small deposit.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

Pound to Euro rates could get stronger

  • Pound to Euro rate stabilises around 1.17
  • UK unlikely to show economic concerns yet
  • Weaker Pound to help British exports

Pound to Euro rates find support at 1.17

It’s been a rollercoaster ride for the UK since the vote to leave the EU and it’s been difficult to predict at what level rates would stabilise. It would appear this week that GBPEUR has found support at 1.17.

This in part, is due to the lack of economic data for the UK this week, but also is due largely to the contradictory doom and gloom messages that we were often presented with during and shorty after the vote.

The reality is, if the UK is in dire health following the Brexit vote, we won’t know about it until the early months of 2017.

What does this mean for Sterling? As long as Article 50 remains on the backburner, rates could crawl closer to the 1.19-1.20 range.

Economic releases next week

Whilst the UK remains a net importer, foreign investment and British exports remain an important part of the UK’s GDP. In the 1970’s manufacturing made up 25% of the UK’s GDP, and even today it remains the 11th largest manufacturing nation the world.

With this in mind, I am expecting positive data from the Markit Manufacturing PMI on Thursday, the cheaper Pound could have positive implications for British exports which could equate to a stronger reading.

Data does however remain light next week for the UK, with most of the movements in rates likely to come from the Eurozone. The mortgage approvals release could in fact weaken the Pound from what we’ve seen, property purchases have declined since the vote.

If you do need to buy Euro’s imminently, I am not expecting massive movements next week with rates likely to rise and fall between the 1.17 range. The following week could be where we see further strength for Sterling.

If you have a currency exchange to make and would like to know how to get the best rates, I am more than happy to assist you – rdl@currencies.co.uk

Sterling Rally Falters (Daniel Charles Johnson)

Sterling has had a recent resurgence against the Euro, st one point touching 1.1786. As I predicted, I didn’t expect the rally to last. The pound strengthened due to positive UK retail figures which can be attributed to an increase in tourism created by the weak pound and the rarity that is good British weather. This was followed by better than expected export data. Why there was such a positive reaction on GBP/EUR is beyond me. I thought this would have been factored into the markets already. Economics 101, cheaper currency – increase in exports.

I think the majority of post-brexit data to be released now will be negative due to the uncertainty created by the vote to leave the European Union. If you have a Euro requirement it may be wise to take advantage of current levels.

If you have a currency trade it is crucial to be in touch with a seasoned broker. The timing of your trade is a key factor during such unpredictable times, If you have an experienced broker on board he or she can be your eyes and ears in the market to assist in helping you make an informed decision. If you would like me to work on your trade I will be happy to help. If you let me know  the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 3-4% saving in comparison to high street banks. Please do not hesitate to get in touch by contacting me at dcj@currencies.co.uk. Thank you for reading my blog and I look forward to being of assistance.

Sterling jumps over 1.17 against the Euro (Ben Fletcher)

Sterling has been boosted nearly half a cent this morning climbing over the 1.17 mark. This is the  first time the rate has moved above 1.17 in over 2 weeks. There hasn’t been any specific new to cause this movement but to me it could be the beginning of a Sterling bounce back.

Sterling has been weak for a considerable time since the Brexit vote, despite the uncertainty I do believe the Pound has been significantly undervalued as there has been some economic data and opinions that suggest the economy isn’t that bad. There will be some nervous releases still to come but considering currencies work in pairs there are also other factors.

The GBP/EUR rate is affected by both Sterling and the Euro, at the moment Sterling seems the weaker of the two but how long will that last? There are major problems in the Eurozone and it’s not far away from the repeat of summer 2015 with the likes of Greece.

In the coming few weeks I believe there could be good news for Sterling as we start to get plans from the government on the budget and Brexit solutions. If these are proactive and viable, Sterling could start to look a better investment than the Euro. During September I am off the opinion we could see the GBP/EUR rate back up towards the 1.20 mark.

Working for an established brokerage allows me to achieve the best rates of exchange for my clients. I am also able to assist with the timing of a transaction to make sure you get the most for your money. If you would like some information with regards to a currency requirement please email me at brf@currencies.co.uk.  

Pound gains for a second day in a row, will this trend continue? (Joseph Wright)

The Pound has gained once again versus the Euro as well as a number of other major currencies today, as improved investor sentiment coupled with some better than expected Manufacturing Data has boosted the Pound.

In turns out that the weaker Pound, experienced since the electorate voted to leave the EU back on the 26th of June, has actually boosted the Manufacturing sector within the UK as exports have increased as demand for UK goods increases with their cheaper value.

The Industrial Trends survey within the UK came in better than analysts expectations and that helped an already upbeat Pound which has been coming off of it’s 52 week lows.

This upward spike may be one for Pound sellers to take advantage of as should the negativity resume I think we can expect to see the Pound decline below it’s current 52 week low of 1.1456. This low level is nowhere near the lows of 3-4 years ago so we’re not even close to uncharted territory, and if the Eurozone can put it’s bad debt issues to bed I see no reason as to why the current downtrend could resume.

If you would like to discuss a planned currency requirement you have to make soon or in future, do get in touch with me (Joseph) on jxw@currencies.co.uk with an outline of your requirements. Not only can I help you with the timing but our specialist currency exchange brokerage can offer exchange rates up to 4% better than what your bank can offer. We’re here to save you money on bank to bank transfers and have been in existence for 17 years. 

Sterling Boost after Stronger House Building Outlook (James Lovick)

The pound has received another small boost this morning after surprisingly strong house building numbers from house builders Persimmon. The numbers produced are for the post Brexit period. Whilst there was some immediate uncertainty for the sector following 24th June the outlook is now looking distinctly positive.

Many had predicted a near collapse in house building but the fact that the Persimmon share price has increased by 30% highlights that confidence does in fact remain strong. Persimmon is the largest house builder in the UK so the news is being taken very seriously.

Clients looking to buy Euros saw a good bounce yesterday after a run of good date last week and the rally continues this morning.

Data is light for the UK this week although GDP numbers released this Friday could have a huge impact on the price of the pound. UK GDP has been gradually falling this year and the numbers this week are for the 2nd quarter which represents the three month period in the run up to Brexit.

My view is that there is likely to be a very small deterioration in the numbers due to some uncertainty in the run up to the vote. I believe that some decisions by individuals and businesses alike may have been put off which could manifest itself in a very small drop in UK GDP. As such it does present a small short term risk for the pound as the concern will be a reduction in output before the referendum would almost certainly mean that the trend would continue post Brexit.

Clients looking to sell Euros would be wise to get in touch as the levels available are close to a 3 year high and still very attractive.

If you have an upcoming GBP or EUR currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

GBP/EUR Recovers to 1.16 (Matthew Vassallo)

GBP/EUR rates have spiked by over a cent during Monday’s trading, with the pair trading around 1.16 by close of European trading. Today’s positive move continues last week’s mini recovery following better than expected unemployment data and Retail Sales figures

Despite this improvement, I do not expect this spike to continue at any great pace. The Pound is still fighting against a wave of negative market perception and with so much uncertainty still surrounding the UK economy, any sustained strength for Sterling is unlikely in my opinion. We need to consider that whilst we have no clearer picture of how or when we will trigger Article 50, which will begin the process of our Brexit, then investors risk appetite for the Pound will be minimal. There is also a strong chance that the Bank of England (BoE) will cut interest rates again to 0% and with a possible recession looming over us, any clients holding GBP should be looking to protect themselves against further losses.

GBP/EUR rates are still trading almost 10 cents higher than the lows of 2008 and whilst I appreciate the current decline is not ideal, the current levels could look very attractive in a few months’ time.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, you can register your details through this blog, or email me directly on mtv@currencies.co.uk

Brexit postponed until 2019?

  • Brexit delay could put further pressure on Sterling
  • Article 50 held off until late 2017
  • Britain not prepared for Brexit
  • City of London looks for swiss-style deal
  • Could Pound Sterling improve in the mean time?

Article 50 was unlikely to be triggered in early in 2017 because the situation in government was “chaotic” according to the Sunday Telegraph. The UK does not have the infrastructure for the people they need to hire, adding to further concerns that an official exit from the EU may not be considered until late 2017.

The UK must be prepared for the negotiation table and is lacking a clear direction for the UK once it does. To add further to this, London are keen on negotiating a swiss-style bilateral arrangement with the EU to protect its finance and business sectors.

London seeks swiss-style deal

Representatives from the UK’s finance sector will meet next month to discuss post Brexit policy ideas with the Prime Minister Theresa May.

A Swiss-style deal could limit the impact of Brexit but will likely take longer to negotiate given the bespoke elements of such a deal and the ratification required from existing EU members. With this in mind, the UK could be looking at a soft-Brexit which may in fact limit the impact on Sterling.

Positive data could strengthen Sterling

With Article 50 on the backburner until late 2019 as some have speculated, there awaits a window of limbo in which Pound Sterling has potential for gains. If economic data continues to shine in light of June’s vote, we could see GBPEUR exchange rates climb back to the 1.20 mark.

Yesterday’s retail sales whilst only a glimpse of economic data to come, could be the first in line to shrug off Brexit gloom. Future economic releases, Brexit updates and political events in Europe all have the potential to move exchange rates. If you would like to know more on how current events could impact your exchange rate requirements, I’d be happy to answer any of your questions by email at rdl@currencies.co.uk

UK economic data helps the pound

Its been a strange week for pound vs euro exchange rates. UK economic data hinted the pound would continue to struggle however the releases have exceeded expectation.

I am not surprised to see Consumer Price Index also known as inflation rise, as the price of oil has also risen which means filling up the car has become more expensive however there is nothing the general public can do.

However unemployment and retail sales numbers have both exceeded expectation which has given euro buyers something to smile about.

This week I wouldn’t be surprised to see the smiles diminish from euro buyers faces when Governor Mark Carney from the Bank of England gives his latest inflation report. Yes, inflation has risen but the Bank of England cut interest rates earlier in the month and also implemented a substantial quantitative easing program that is set to devalue sterling.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other brokerages and high street banks. I would recommend filling out the form below or emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

 

A much needed Sterling Rally – Pound Forecast (Daniel Charles Johnson)

GBP Forecast

Sterling has a had a terrible run of late following the Brexit vote. The majority of UK data released has been negative and the pound has suffered as a result. Most of the data released has been for June, so I do not think the true damage of a vote to leave the EU has filtered through in data releases as yet. July figures are starting to filter through now and to my surprise UK retail data was positive going against the general consensus. I can only assume that the UK is now far more attractive for tourists and more UK residents are choosing to stay here rather than venture abroad.

As a result of the positive data we saw the pound rally against the Euro up to a day high of 1.1639. I would not expect the rally to continue so if you have a Euro requirement it may be wise to move on this spike.

If you have a currency trade it is crucial to be in touch with a seasoned broker. The timing of your trade is vital during such a volatile  times, If you have an experienced broker on board he/she can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to assist with your trade I will be happy to help. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 3-4% saving in comparison to high street banks. Please do get in touch by contacting me at dcj@currencies.co.uk. Thank you for reading my blog. The quickest method to get in touch is by filling in the form below and we will be in touch ASAP.

 

Buying Euro rates gaining attraction ahead of today’s inflation release (Joshua Privett)

GBP/EUR rates seem to have found some support around the 1.15 level once more, with Euro buyers breathing a sigh of relief as they did last month following the Brexit vote and the immediate aftermath in July.

The serious and inescapable slides on the Pound reported in the media almost daily after the vote were reversed with immediate effect last month when news broke that there would be no protracted leadership contest in the UK, and that a new Prime Minister would be installed straight away.

Soon after the loose promise that the UK would not be enacting Article 50 – the formal proceedings for the UK leaving the EU – would not be actively pursued until the beginning of the next year allowed the Pound to find some stability.

Since then, the performance figures since the beginning of July have brought buying Euro levels back down to the 1.15 area down from 1.20. Interest rate cuts in the UK and low growth figures were the main drivers. Bizarrely the saving grace for the Pound was our inflation figures which have been showing underwhelming results since the beginning of the year.

Instead we are now in the green, likely due to increased tourism within the UK due to the cheaper Pound and it will be the Eurozone’s turn this morning to have their inflation figures scrutinized.

Unlike the UK’s impressive figures the Eurozone’s are expected to show a contraction. They’ve lost tourism this year, not just due to the more expensive Euro but normally popular destinations such as Greece have lost their shine due to their recent financial troubles and migrant crisis.

The improved buying rates may extend this morning, and may even govern a new trend for buying Euro rates as the week winds down.

It was nice break to write some positive news for Euro buyers for once. I strongly recommend that anyone with a buying Euro requirement should contact me first thing this morning to discuss how best to make the most out of any favourable movements should contact me on jjp@currencies.co.uk directly or fill out the form below.

You can also benefit from the highly competitive exchange rates of one of the UK’s top brokerages. Just provide me with a basic outline of your currency requirement and I will be in touch with you as soon as possible. If you wish to discuss your requirement urgently you can also contact me on 01494 787 478 and ask the reception for Joshua.

 

UK retail sales vs Eurozone inflation (Dayle Littlejohn)

Tomorrow morning at 9.30am the UK are set to release their latest retail sales numbers. The retail Sales numbers are a measure of the total receipts of retail stores.  A slight fall is expected which should devalue sterling slightly and therefore GBPEUR exchange rates could fall.

Shortly after at 10am, the Eurozone are set to release their latest Consumer Price Index also known as inflation numbers. The month on month figure is set to show a decline therefore the Euro could weaken. A strategy for euro sellers tomorrow would be to wait for the UK retail sales numbers and then trade before the Consumer Price index numbers half an hour later.

Yesterday the UKs Consumer Price Index exceeded expectation and some analysts have put this down to oil prices rising in the UK. Other analysts were predicted a fall due to the slowdown in the UK economy because of the ‘Brexit’. It just shows its going to be difficult to second guess upcoming economic data in the current market conditions.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other brokerages and high street banks. I would recommend filling out the form below or emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

Sterling Finds Further Strength This Morning (Ben Fletcher)

The GBP/EUR rate has once more moved in a positive direction for Euro buyers moving into the high 1.15’s at the high of the day. The rate started to improve yesterday off the back of better than expected inflation data showing July grew despite the Brexit worries.

This morning there will be unemployment data and average earnings being released which if positive could help the rate move towards the 1.16 level. Personally I am a little sceptical of positive rate movements at the moment as they can often convince Euro buyers to wait for extra increases. Considering how volatile the market is currently a rate spikes should be considered as a bonus and if you’re able to capitalise I would suggest doing so.

Italian Referendum

Italy is set to hold a Referendum that will be a vote for constitutional change. The vote will look to move many of the bureaucracy powers held by the senate away and reside them with the Prime Minister.

Matteo Renzi the Italian Prime Minister has come up against some barriers and he has essentially put his head on the line with the Referendum. If he doesn’t manage to win the vote he is expected to resign which could leave Italy without leadership and crisis at the doorstep.

The Italian Referendum is being billed as the biggest threat to the EU since the Brexit. Due to Italy using the Euro any fallout from uncertainty could potentially have a bigger effect than Britain’s decision.

What this could present is some major Euro uncertainty which in turn could create a good buying window in the medium term. Any uncertainty for the Euro has been hard to come by of late and something major like this could really help Sterling.

Working for an established brokerage allows me to achieve the best rates of exchange for my clients. I am also able to assist with the timing of a transaction to make sure you get the most for your money. If you would like some information with regards to a currency requirement please email me at brf@currencies.co.uk.

Sterling climbs on positive Inflation data (Joseph Wright)

There has been a change to the current down of Sterling weakness today, as some better than expected Inflation data has boosted the Pound vs the Euro as well as against most other major currencies as well.

The data showed that over the past year  CPI (Consumer Price Index) Figures have increased by 0.6% up from 0.5% the previous year. This is a good sign that many weren’t expecting as it demonstrates that the overall cost of living is increasing which is a positive sign for an economy, which is why I’d imagine that Pound strengthened today.

Good news for the Pound was long overdue as the currency has been declining on almost a daily basis as of late. The implementation of an additional £80bn worth of Quantitative Easing, starting from the 4th of August has been the catalyst for this weakness, and from a personal standpoint I am struggling to remain optimistic regarding the Pound moving forward.

I think that should economic data out of the UK disappoint now that it’s in it’s post-brexit environment, investors will be more sensitive than usual to this news, and therefore we could see further sharp sell-off’s for the Pound should the data disappoint.

If you are planning to use GBP to buy a foreign currency it may well be worth your time getting in contact with me on jxw@currencies.co.uk  in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

 

Sterling Continues to Fall On Weaker Growth Outlook

The pound remains firmly under pressure against all of the major currencies but particularly against the Euro and taking further losses again today as the focus remains on a weaker economic outlook and the very real prospect of a technical recession in Britain. The prospect of a a further interest rate cut in the Autumn is also weighing on the price of sterling. There is currently an excellent opportunity for anyone selling Euros.

The pound has found a degree of support however following this morning’s UK inflation numbers from the Office for National Statistics which arrived slightly higher than expected. It takes UK producer price inflation to the highest level for two years which is largely being attributed to the fall in the price of sterling following the decision for Britain to withdraw from the EU.

It makes things complicated for the Bank of England as it tries to balance growth with inflation. If inflation continues to climb as expected then the Bank of England may need to act by actually raising interest rates. This is not likely to happen any time soon but it is ultimately where the UK may be heading.

UK unemployment data is released tomorrow and could create some market movement. However as it is still very soon after Brexit I would be surprised to see any noticeable worsening in the headline numbers. Unemployment is expected to remain at 4.9% in July with no change from June. Retail sales on Thursday could actually see a positive jump higher and may see the pound rally. Other recent retail sales numbers from the British Retail Consortium arrived very robust and if repeated here could signal better days.

If you have an upcoming GBP or EUR currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

 

When will Sterling Recover? (Matthew Vassallo)

Sterling continues to find itself under pressure against its Euro counterpart, with GBP/EUR rates slipping again during Monday’s trading. With the pair falling below 1.15 at today’s low, many clients are questioning when and if Sterling will recover?

Whilst the current trend will not last forever, it does seem as though the Pound will struggle to make any sustainable impact whilst there is so much market uncertainty surrounding the UK economy. With reports surfacing over the weekend that UK Prime Minister Theresa May will not look to invoke Article 50, triggering our Brexit from the EU, until 2019 this market uncertainty is likely to continue. I would not be surprised if we find there is a ‘glass ceiling’ type barrier, which the Pound could struggle to surpass and for that reason I would be keen to protect any Sterling positons from further losses.

Looking ahead and we are likely to see additional volatility on GBP/EUR rates this week, with a host of key economic data releases. Tomorrow we have a host of inflation data for the UK, along with Eurozone Trade Balance figures. On Wednesday we have the latest UK unemployment figures and with the official unemployment rate expected to remain unchanged at 4.9%, expect the markets to spike if the reading comes outside of this figure. Finally on Thursday we have UK Retail Sales figures, along with Eurozone inflation data, so expect a busy on the exchange.

If you have an upcoming GBP/EUR currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates, then please feel free to contact me on 0044 1494 7874 78 and ask one of the team for Matt. Alternatively, you can register your details through this blog, or email me directly on mtv@currencies.co.uk

GBPEUR continues to fall (Dayle Littlejohn)

For euros buyers many are asking when will the pound level out against the euro or actually start to reach levels we came accustom to at the beginning of the year. Unfortunately I don’t foresee rates reaching the highs we saw at the beginning of the year or even the 1.20s anytime soon.

The Bank of England have decided to cut interest rates and inject quantitative easing into the economy and post EU referendum economic data for the UK is showing a decline and I expect this trend to continue.

Spain and Portugal this week have been given additional time to reduce their deficits. The EU council have said exceptional circumstances led to the decision however I believe its key the EU stays united at troubling times and thats why the EU council have been lenient.  Its clear they do not want any other countries following in the footsteps of the UK.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other brokerages and high street banks. I would recommend filling out the form below or emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

GBP/EUR rates of exchange may see bump Monday morning (Joshua Privett)

GBP/EUR exchange rates unfortunately took a sudden downward turn on Friday afternoon, when the interbank level at 1.15 was seen once more. The last time this was available was the day before the announcement that Leadsom was dropping out of the leadership race and it was assumed that Theresa May would be the next Prime Minister.

The reason for this fall can be attributed to traditional Friday trading patterns.

Currency market buying and selling rates for Euros mainly move due to the activity of traders over at high street banks who move hundreds of millions in capital on a daily basis trying to make a profit for their financial institution.

On Friday you tend to see some form of profit taking occuring. Essentially the profits generated as the week continues, have to be allocated to what is normally deemed a stable and valuable currency. Due to the bad press the Pound has been recieving since the announcement of the Brexit vote, this has been low of the list for profit consolidation.

As such its value fell sharply on Friday as its demand fell through the floor. This was exaggerated due to the Eurozone wide Bank holiday on Monday, so even more capital was taken out of the Pound as traders did not want to gamble on a Monday which they could not trade on.

However, some opportunities may emerge on Monday with markets returning to some semblence of normality and a lot of interest returning for a suddenly cheap Pound.

Some better buying levels, therefore, may emerge before Tuesday’s inflation data for the UK which may produce some further pressure on the Pound.

I strongly recommend that anyone with a Euro buying requirement should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer in order to maximise your Euro return.

I have never had an issue beating the rates of exchange offered elsewhere, and these current buying levels can be fixed in place for anyone considering buying a foreign currency in the near future.

You can also fill out the form below to be contacted immediately on Monday to discuss how to best approach your requirement.

Positive Eurozone data weighs on Pound Sterling

  • Eurozone performing well post-Brexit
  • German GDP figures far better than predicted
  • Eurozone GDP data show no signs of slowdown
  • Industrial production for June outperforms expectations

The concerns that Brexit could spill into the Eurozone have once again been put to bed in its latest round of economic releases. Whilst the UK’s economy has shown clear signs of struggle following the historic vote to leave the EU, the same cannot be said for the remaining party members.

Whilst it may be to soon to understand the implications of Brexit on the Eurozone economy, the initial signs seem to point to a struggling British economy within a resilient Eurozone. The parallels for exchange rates are clear, Pound to Euro rates continue to slide as the trends unravel.

German GDP figures boost the Euro

It was widely expected that German GDP figures would fall, and once Germany catch a cold, the rest tend to follow suit. Retail and Industrial output were seen as the driving factor behind today’s predictions for GDP, with Brexit being the global concern for the powerhouse of Europe. With expectations for GDP to stall 0.2% compared with Q1, results of 0.4% whilst lower than its previous release, provide some confidence to investors. But by far the biggest shock was its YOY Q2 release which over doubled its predicted forecasts.

With the positive news followed the Eurozone’s GDP figures which were likely to reflect positively given the German GDP release just hours previous, as expected figures matched expectations for QOQ and YOY respectively.

What does this mean for GBPEUR exchange rates?

With very little signs of economic slowdown within the Eurozone post-Brexit, attention continues to build on the UK’s economy and thus Sterling, GBPEUR exchange rates could take further hits unless the UK’s economy recovers from the Brexit shock.

Given that the UK has not started the official process of withdrawing from the EU, current climates are of concern, once the UK begins the countdown invoking Article 50, Pound Sterling will remain exposed to uncertainty.

With current rates of 1.16, rates are not that unfavorable and I therefore urge anyone buying Euro’s, especially large quantities to get in touch with me at rdl@currencies.co.uk. Further losses to your currency requirements could be avoided.