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When to trade Euros this week – GBPEUR rates up and climbing. (Steve Eakins)

Levels have climbed once more today for the GBPEUR pairing, this has been on the news that the government sold a stake in the RBS bank which they hold. This additional revenue going into the government pushed the value of the Pound up.

My personal view is that we will see rates climb further still this week. Wednesday and Friday will probably be Euro gain days but Thursday should be a big Sterling day. This is when we will have a host of economic data being released on the forecast of any interest rate change in the UK. The expectations are good, that this will confirm a climb within the next 8 months however maybe as soon as the end of 2015.  When this has been provided the market will move positivity to price this live expectation in, plus with added demand for Sterling comes additional value.

So if you are a Euro Seller I would move tomorrow (Wednesday) and if I was a Euro Buyer I would be trading on Thursday.

For a full breakdown of what is happening and what could impact your market situation feel free to contact myself Steve Eakins – hse@currencies.co.uk

Pound Sterling Rates Rally against the Euro (Tom Holian)

Sterling vs the single currency reached 1.42 on Interbank levels at the close of business Friday as problems still persist for Greece.

Even with Eurozone inflation coming out better than expected this briefly helped to strengthen the single currency vs Sterling but the positive movement was short-lived.

Next week the Eurozone release Retail Sales on Wednesday with expectations for 2.4%.

Anything higher could see a small opportunity to sell Euros into Sterling.

However, across the Pond the US appears to be getting closer to raising interest rates.

This is likely to strengthen the Dollar as and when this happens and in the meantime this Dollar strength is causing the Euro to weaken.

On Thursday the Bank of England meeting takes place and with the minutes due immediately after for the first time in history I expect Thursday to be a very volatile day for anyone needing to exchange Sterling and Euros.

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 

 

 

 

Sterling Strengthens on Mortgage Approvals (Daniel Johnson)

Sterling has had a good week against most of the major currencies. UK retail figures, GDP and mortgage approval have all been positive. We have seen GBP/EUR break 1.43. If I had a Euro requirement I wouldn’t be procrastinating for an extra few quid. Positive data for the UK coupled with the Greece situation has caused us to get very close to the 8yr high of 1.44. I can’t see GBP/EUR breaking the 1.45 resistance level.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

Pound Euro Exchange Rates Rise (Tom Holian)

Pound Euro exchange rates have begun to improve over the last two days as UK GDP figures came out a lot better than expected.

Second quarter growth yesterday showed 2.6% which helped Sterling gain against the Euro providing some excellent opportunities to buy Euros which are still very close to an 8 year high.

Output for the UK according to the headlines is now back to similar levels last seen in 2008.

The Bank of England are due to meet next week to discuss monetary policy and although I don’t think there will be any change with interest rates in the near future any suggestions of a future rate rise could see Sterling going in an upwards direction vs the Euro.

Eurozone unemployment and Inflation data is published on Friday which is the next data announcement to impact on Sterling vs Euro exchange rates.

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

 

 

GBP/EUR Rates Spike Again (Matthew Vassallo)

GBP/EUR rates have spiked up during Wednesday’s trading, with the pair moving back towards 1.42 on the exchange. After what now looks like another false dawn for the EUR early this week, the Pound has gathered momentum and although it still a couple of cents below the recent highs, it does seem as though it will continue to find support above 1.40.

Despite a new agreement in place between Greece and its creditors, reports are indicating that the chances of Greece managing to make their repayment deadline in August are minimal at best. This is the key issue for the Eurozone at present and until we have some sort of longer-term solution, or Greece leaves the Eurozone, then the EUR is going to struggle to make any sustained impact against GBP.

There will still be short-term opportunities for those clients selling EUR, as we saw on Monday but I do not expect a major turnaround anytime soon.

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 directly on mtv@currencies.co.uk

UK GDP Figures Cause movement in GBP/EUR (Daniel Johnson)

Quarterly GDP figures were released this morning and there was an improvement from Q1.  GDP has risen from 0.4% to 0.7% causing Sterling to strengthen over the Euro. GBP/EUR again breached 1.41 giving Euro buyers an excellent opportunity to purchase.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

– See more at: http://www.poundeuroexchange.com/#sthash.w5WR37rr.dpuf

What will happen to Sterling Euro next week? (Tom Holian)

Sterling Euro exchange rates ended the week trading at above 1.41 as the Greek talks have been delayed owing to logistical problems.

It appears as though the Greek issue is never-ending and this has weighed heavily on the value of the single currency vs the Pound as investors are cautious about holding Euros until this is all cleared up.

During this month Sterling has hit its highest level vs the Euro in 8 years as Bank of England governor Mark Carney has also suggested that the UK could potentially increase interest rates before the end of the year.

I personally think this is dangerous as the UK economy is not robust enough yet and until the European problems are sorted any change in our own monetary policy could cause problems for the UK.

On Tuesday we see the release of UK GDP figures and with the first quarter showing growth of 2.9% I think it will be difficult to maintain this figure so I think we could see Sterling fall vs the Euro.

If you have 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

 

 

GBP/EUR crashing into 1.41 – will it fall further? (Joshua Privett)

A combination of the Euro strengthening of the back of the now twice ratified ‘Agreekment’ and poor retail sales figures in the UK has finally taken its toll on the, frankly, over-inflated rates on purchasing Euros. 1.40 was reached very briefly this morning, and I fully expect this to be achieved again by the close of trading today, barring any surprises.

As there is very little data to be released today concerning global economic performance, any surprises would have to be political. I would not suggest anyone bank on a sudden deterioration in Greek talks over the weekend. There was a larger majority in the Greek Parliament to implement the reforms necessary to release the bailout funds this time around, and we will have to wait quite a while before formal talks are completed and the results released. In the meantime I expect GBP/EUR rates to steadily deflate.

Personally, I would be looking to secure a Euro purchase ahead of the weekend. Even if your requirement is not until later in the year, these rates can be pegged at no additional cost. Call 01494 787 478 and ask for Joshua to receive a free quote on your transfer. Those with Euros to sell, email me on jjp@currencies.co.uk to take advantage of selling opportunities over the next few weeks.

UK Retail Figures Cause a drop in Sterling (Daniel Johnson)

UK Retail figures were released this morning and they have come back lower than expected. They were predicted to be at around 5% and the actual figure came in at 4.2%, a significant fall. We have seen GBP/EUR drop into the 1.41’s. This could well be a small window of opportunity for Euro sellers to bite the bullet.

We have already conducted several large Euro to Sterling trades this morning and have more this afternoon which potentially we can tag new clients on to and achieve a very competitive rate. Don’t hesitate to get in touch if I can be of assistance.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

 

Sterling Euro hits 1.43 (Tom Holian)

Sterling has hit 1.4350 at the high today after suffering losses vs the Euro during yesterday’s trading session.

The Bank of England minutes published this morning showed all 9 members wanting to keep rates on hold but it is the ongoing saga in Greece that are causing the problems for the single currency.

Although Greece has opened talks with Europe it is facing problems internally with a vote taking place tonight to ratify the bailout terms of offer.

The failure to reach a conclusion could result in further Euro weakness but I think an agreement will be made and this could strengthen the single currency vs the Pound.

UK Retail Sales are due out tomorrow and if the figures are lower than the expected figure which is rather high recently any negative data could see Sterling falling vs the Euro.

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

 

 

 

GBP/EUR Spikes During Wednesday Trading (Matthew Vassallo)

GBP/EUR rates have spiked back up during Wednesday’s trading, following a loss on the exchange yesterday. The Pound dipped by almost 2 cents yesterday and once again the markets indicated we may finally be seeing some respite for the EUR, following a very testing few months. However, it now seems no more than another false dawn with GBP/EUR rates moving back through 1.43.

This is not the first time the EUR has threatened a realignment over recent weeks and although the single currency is showing no immediate signs of a major turnaround, it doesn’t mean EUR sellers cannot find short-term opportunities to sell at better prices, yesterday’s movement being a prime example.

With Bank of England (BoE) Mark Carney being particularly bullish about the UK recovery at present, even alluding to the fact that UK interest rates may rise sooner than most expect, Sterling is finding plenty of support in the market. Add to this the on-going debacle in Greece and it is not hard to see why we are at some of the best levels seen on GBP/EUR over the past 8 years.

A cautionary word would be that this is not the first time Carney has talked up a rate rise, only to dash the markets hopes the following month. It may well be that he follows suit again, as I personally cannot see the BoE raising rates sunlit at least the second quarter of 2016 at the earliest. With a new deal now in place between Greece and its creditors we may find these eases pressure on the EUR and I do feel the EUR is likely to find some support sooner rather than later.

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 directly on mtv@currencies.co.uk

The Euro is Gaining Ground on Sterling (Daniel Johnson)

The Euro has started to rally back against Sterling. We have seen 1.44 this week, I felt GBP/EUR was chronically overvalued and we are finally seeing the Euro gain some much needed ground. If you have to sell Euros in the near future I don’t see any major movements on the Greece situation in the next fortnight, so it may be an idea to move while GBP/EUR sits in the 1.42’s.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

What next for the GBPEUR exchange rate?

The GBPEUR has taken another leapfrog over 1.43 further helping Euro buyers and creating more misery for Euro sellers. On balance it seems reasonable to expect the pound will maker further inroads on the embattled Euro creating further havoc for anyone trying to plan their future currency transfers. The pound has been finding more and more favour in the last few months as interest rate hike expectations improve for the UK. Just what can we expect around the corner for the exchange rate? I am widely expecting the pound to continue to rise as the UK economy improves and investors confidence in the UK soars. Put it this way if you wanted to make the most of your currency exchanges what would you rather be holding? Euros or the pound? For most market participants the answer is easily the pound!

If you need to buy or sell Euros doing everything you can to maximise your exchange is the best thing to do. Speak to me Jonathan about all of your options on jmw@currencies.co.uk.

The Euro is in Trouble! (Daniel Johnson)

Yesterday, Eurozone Minsters agreed to support Greece with a “bridge loan” to keep their economy afloat until a bail out is approved. €7bn will be handed over from an EU fund.

This could enable Greek banks to reopen after being closed for more than two weeks. The Greek people have been limited to withdrawing only €60 a day.

Eurozone leaders agreed on the bailout in principal on Monday. The deal was dependent on the Greek parliament passing reforms on tax and pensions.

Alexis Tsipras, the Greek Prime Minister won the parliamentary vote. It did however require the support of opposition MPs. A worrying sign for the Syriza party. As we well know political uncertainty can cause market movement and we already have experienced significant Euro weakness.

Today will see the German Parliament back to negotiations for the bail out deal. The Greek parliament then must pass further reforms on 22nd July. Eurozone talks will then start on a bail out through the European Stability System. Expect the high volatility on GBP/EUR to continue.

If you are a Euro seller it may be wise to bite the bullet before things get any worse.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

GBP/EUR Rates Heading for 1.43! (Matthew Vassallo)

GBP/EUR rates are sitting close to an 8 year high following another positive day for Sterling. Sterling momentum from yesterday has continued with uncertainty over whether the Greek deal on offer from its creditors will be ratified in the Greek parliament this evening.

There are also varying reports over how good this deal is for wither the Greek’s or the Eurozone and it seems as though the markets have viewed this as further bad news, which is why we have seen GBP/EUR rates hit 1.4284 at today’s high. We also had Bank of England (BoE) governor Mark Carney talking up the UK recovery and mentioned that if this positive trend of economic data continues, we could see the BoE raise UK interest rates sooner rather than later.

Despite today’s movement I still feel a deal will be pushed through tonight and this should at the very least bring some respite for the EUR. It does seem however, as if the markets will need to see further proof of progress if the EUR is to gain any sustained support.

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 directly on mtv@currencies.co.uk

GBP-EUR rates waiting Greek debt decision (Joshua Privett)

Greece had a deadline of 10pm yesterday to submit their new debt reform proposals, and they used every second allotted to them. So the worsening weakness in the Euro throughout yesterday correlated precisely to investor confidence as the deadline approached.

But at 10pm the proposal was released, and it seems some middle ground was finally found, strengthening the Euro back down into the 1.38’s this morning before UK trading had even begun.

According to Greek media reports the measures submitted include: unifying VAT rates at a standard 23%, phasing out a solidarity grant for pensioners by 2019, and €300m defence spending cuts by 2016.

One of the main points of contention during the Greek talks has been their pension schemes. So while this is not a reduction in the pension scheme, and it is not even close to being implemented, it is a start. But Mr Tsipras is asking for a lot in return – a bailout total of €53.5bn.

But there is a lot of movement for both sides on this, asking for a larger amount from the Eurozone is not necessarily an issue, as it will be paid in stages. Similarly Greece will not have to worry about pension changes for another 3 years. Which is why markets have reacted well to the proposal, on the surface it appears there is some middle ground so neither side is ‘losing face’, but it is much more palatable than it appears.

We are now waiting for the proposal to be debated by the Greek Parliament today, and all 28 EU leaders over the weekend. While these talks have produced surprises in the past it seems neither side can afford not to compromise at this point. Greece has little to negotiate  due to their current cash crisis, and the EU cannot deny Greece financial aid without incurring a PR nightmare. 

So I believe some form of deal will be reached. But whether  it is a long-term solution or a short term fix still needs to be debated. In either case, the Euro will likely strengthen further than it has this morning, creating long-awaited opportunities for Euro sellers. Email me over the weekend on jjp@currencies.co.uk to discuss how to maximise any move in your favour which occurs over the weekend.

GBPEUR bounces back!

The springboard on GBPEUR continues with another volatile day, not as crazy as earlier in the week but busy nonetheless. Trying to make sense of everything is very difficult in the current market and all eyes remain firmly on Greece to see just what will happen. First thing is tonight, will they submit their plans? If they don’t the Euro will weaken in my opinion!

Tomorrow is the last day of trading as the markets will be closed for the weekend when the key decisions will be made. Have you made provisions for this important date? If not then I suggest getting in touch with one of the team here or emailing me Jonathan directly on jmw@currencies.co.uk to make plans.

Euro to Rally over Coming Days (Daniel Johnson)

A Greek deal could well be sealed in the coming days. There are very little  funds left in the Greek banks (less than €500m), the Greek populous are limited to a €60 withdrawal per day. A deal is now a necessity to avoid potential anarchy amid a financial crisis. The GBP/EUR could well move in the Euro’s favor. Expect a significant swing. The market is reacting. If you have a Euro requirement I would get it done. I feel a deal and Euro strength is inevitable.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

GBP/EUR drops 2 cents in today’s trading (Dayle Littlejohn)

By the end of today’s trading GBP/ EUR dropped 2 cents and I believe this is because investor confidence has improved within the Eurozone due to Greece coming close to striking a new bailout. Talks have been ongoing for months for Greece and Eurozone ministers however after the referendum on Sunday it looks like both parties are now prepared to put their cards on the table and come to an agreement. I wouldn’t be surprised to see a deal stuck within the next 48 hours.

This means for clients looking to buy and sell euros within the next month potentially you could make or lose a substantial amount of money. I want to make it clear I’m a strong believer that a deal will be struck and rates will drop back to the 1.35s. That means for clients looking to buy €200,000 it might become £5,000 more expensive where as clients looking to sell €200,000, you could make an extra £5,000 if a deal is struck.

For further forecasts feel free to call 0044 1494 787 478 and quote Dayle Littlejohn or alternatively email drl@currencies.co.uk for a quote.

Greek Deal Imminent? (Tom Holian)

Sterling Euro exchange rates have started to fall over the last couple of days and have dropped below 1.40 this morning as it appears as if a Greek deal could happen over the next few days.

The Greek crisis has provided some very good opportunities to buy Euros recently but although rates are still close to an 8 year high it appears as if time is running out to secure your rates above 1.40.

With the Greeks having been given 48 hours to produce new proposals I think this time the deal could be done with more funding provided to the Greeks.

This has provided some excellent opportunities to sell Euros into Sterling and I expect this volatility on exchange rates to continue.

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