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German retail figures were released today and the data was better than expected causing the Euro to strengthen against Sterling.  We have seen GBP/EUR drop back to to the low 1.37’s.

Tomorrow will see the BOE’s (Bank of England) interest decision and asset purchase facility release. I seriously doubt there will be any change. The big mover of the day could be the Eurozone’s GDP figures. GDP gives a broad picture as to the Eurozone’s economic activity and health. I predict a slight rise which could push Sterling further back against the Euro.

If you wish to call me to discuss your currency requirements please do get in touch by calling me on 01494 725353 and ask for Daniel Johnson, alternatively drop me an e-mail on dcj@currencies.co.uk .

Will GBPEUR hit 1.38 again?

The main event this week is the ECB decision on Thursday this week. If I need to buy or sell the Euro this is the event I would be targeting if I was hoping for a little more on the exchange rate. I must say expectations are indicative of yet more Euro weakness! If you need to sell Euros I think planning an exit strategy is sensible. We can assist with a variety of contract options to help limit your exposure to the market. If you wish to learn more please email me Jonathan on jmw@currencies.co.uk and I can provide a full overview to help you make an informed choice.

Over the last few weeks GBP/EUR has been on an upward trend and has climbed to a 7 year high, with exchange rates reaching the 1.38s. Today we seen this rate drop by a cent due to Eurozone Consumer Price Index also known as inflation data coming in better than expected. In addition, unemployment rates within the Eurozone have dropped by 0.1% given further strength for the Euro. I’m of the opinion the interbank rate is now going to float around the 1.37s in the upcoming weeks however going forward the closer we get to the election rates could start to drop off.

If you are looking to buy Euros and want to achieve award winning exchange rates feel free to email me on drl@currencies.co.uk or alternatively call 01494 787 478 and Quote Dayle Littlejohn.

Two days ago the market was watching that the Federal Reserve Bank of America’s testimony hearing with Congress were causing secondary effects on the currency markets. By repeatedly stating they would delay the rise of interest rates, the Euro gained ground lost against the Dollar, and this caused the Euro to also rise slightly against the Pound. This was a similar effect we were seeing at the start of trading this morning.

However, the testimonials took a sharp turn yesterday morning. Inflation data released that morning about the US economy showed promising price increasing outside of the low energy prices. The politicians, hoping to score some points by fighting for the (short term and irrational) goals of their constituents, used this to berate Janet Yellen, the head of the FED for deciding to delay interest rate rises.

In a world of weak global growth, raising interest rates would be a gamble on an economy still recovering. But a world of weak global growth is also full to the brim with investors waiting to jump at any opportunity for profit. The thought that the FED may be forced to raise interest rates saw money flood into the US economy from a battered Eurozone. This outflow of capital caused the new 7 year highs for Sterling Euro exchange rates seen yesterday at the close of trading.

The same is still true, once the decision in Greece is ratified, the uncertainty holding down the value of the Euro will be lifted. While this delay will now likely limit the corrective pullback, I would not be surprised to see rates below 1.35 suddenly appear. We are already heading into the 1.36’s again after only a few hours of trading

Those looking to buy Euros, ahead of the German ratification of the Greek bailout extension tomorrow, and want to save money on exchange rates compared to using your bank then contact me directly for a free quote on 01494 725 353 and ask for Joshua – jjp@currencies.co.uk

 

The provisional agreement is in place and they are still being taken through the formalities of being ratified by the new Greek parliament and their multiple European counterparts, Germany’s will be voting on Friday. Investors in the Euro are still keen to wait before investing heavily, last time positive news came out of the talks with the Greek delegation the rates moved a few cents in the favour of those looking to sell Euros. When the talks deteriorated we returned back to the levels currently available for those looking to buy Euros.

Investors lost a lot once the talks detoriorated, which is why they are currently hesitant to pull the trigger whilst the Euro is a bargain. These are the best levels available in 7 years, and they have been left on the plate even longer due to institutional restrictions that singlular participants in the market are not bound by. So because the currency markets are still largely hinging on the decision in Greece, the advice is also the same. Buy Euros now if you need too. Call me on the trading floor tomorrow from 8:30am on 01494 725353 and ask for Joshua.

Alternatively if you have Euros to sell, wait, and do not despair. Email me on jjp@currencies.co.uk and we can discuss a short currency ‘road map’ based on your situation.

I look forward to not writing about the Greek situation. There are other events tomorrow, such as UK GDP data which may affect the value of Sterling. Of course this is something to consider, but investors have seemed tunnel visioned over the past few weeks squarely on talks over the Eurozone. This is tedious, this is politics. They are a gift to Euro-buyers, and undeniably frustrating for those looking to sell-off the Euro under any kind of time-constraints.

Greece’s provisional agreement  is now in place. The debt remains however, simply postponed to be dealt with at a later date . The two sides are still at loggerheads  and there doesn’t seem to be a resolution in sight. The head of  the ECB (European Central Bank) Mario Draghi is set to speak this afternoon which could cause some volatility dependent on his outlook. However I do not expect anything to exciting to said with QE (Quantitative Easing) yet to kick in and Geece’s  problems being swept under the carpet. I feel with no resolution the Eurozone woes are set to continue.

It is currently very attractive for Euro buyers as we sit at the 1.36 level (7yr high), hanging on may be an option but, with the general election looming it maybe wise to move before the political uncertainty cause Sterling weakness.

If you wish to call me to discuss your currency requirements please do get in touch by calling me on 01494 725353 and ask for Daniel Johnson, alternatively drop me an e-mail on dcj@currencies.co.uk .

We saw a volatile days trading today as the markets internationally await an update on the Greek bailout situation. GBP EUR rates peaked at a fresh 7 year high (1.3665), but have since retreated (at times as low as 1.3605 when the most Euro positive news was released). I share the opinion of many market analysts that up to 3 Cents of the current exchange rate is market uncertainty. Should Greece finally win the right to renegotiate its bailout terms over a longer period of time, a lot of members of the Eurozone will sigh a collective relief – The Single Currency should subsequently strengthen again.

As it stands the Greeks have put forward their final ‘list of demands’ and although they have been deemed ‘barely acceptable’, the International Monetary Fund have confirmed that they are acceptable to work with. We wait on the formal release…

The rest of the week has Gross Domestic Product figures for several key Eurozone members, plus a statement from Eurozone Central Bank Governor Mario Draghi. If you do have an exchange requirement (how ever big or small) please feel to get in touch. The direct line to the trading floor takes calls from 08:30 tomorrow morning ( 01494 787 478 ) or drop me an email AJB@currencies.co.uk – Please ensure that you quote this blog to access the most favourable trading ledgers!

Have a good evening…

Andrew Bromley

The uncertainty over the negotiations with the Greek delegation are now largely over, only the formalities are left for Greece to be granted a 4 month extension on their loans. In the long run, the Greek problem will likely resurface, but when it does so, the Eurozone economy will be in a stronger position to deal with the situation, with positive GDP figures already showing signs of recovery after a few months flirting with recession and deflation. This will likely cause a stalemate on the currency markets when we come to it.

But at least for 4 months now the uncertainty will be lifted. I fully expect a strong corrective pullback for the Euro against Sterling, as investors flock to purchase the Euro while it is such a bargain for those holding Sterling and US Dollars. Due to the laws of accountability, the large scale investors who really shift the currency markets cannot jump on these rates until official announcements of the Greek bailout extension are confirmed. Those not bound by such shackles should take advantage before the inevitable return back to the low 1.3’s or even high 1.2’s should the efforts for recovery in the Eurozone really start to take affect.

I suggest calling into the trading floor today for a quote or to discuss your situation. Ask for Joshua on 01494 725353, or email me on jjp@currencies.co.uk

 

Only on Friday when GDP figures of the UK will be released will our economic efforts have some say in the exchange rate. However, until then, the current 7-year highs against the Euro will be at the mercy of the Greek decision.

It seems this will finally be announced tomorrow, as a deadline ending Tuesday was installed over the weekend for Greece to accept the new proposals, and the language suggests there will be an agreements. While the official deadline for Greece is not until the 28th, any agreement reached by the delegation has to be ratified by the Greek parliament first, so Tuesday is likely to finally hear the announcement of an extension (which is exactly what it is, however much the Greek delegation try to spin it for their voters at home).

The uncertainty over Greece has largely been what has been holding down the value of the Euro over the past few weeks. The Eurozone has positive GDP data released over the past few weeks that got investors excited but unable to put money into the Eurozone until the Greek debt situation was finalized. Now we are on the cusp of this, those planning to buy Euros should not waste this opportunity and should do so either today or tomorrow morning, or the corrective pullback against the Pound will be substantial.

If you would like to take advantage of the current rates then call 01494 725353 and ask for Joshua, or email me for more information on jjp@currencies.co.uk 

Sterling Euro exchange rates have hit 7 year highs this month as fears of a Grexit increased.

However, this weekend the Greeks have been granted a 4 month extension in order to organise how they will be able to manage the current bailout terms.

The Syriza party who were recently elected came in under the premise of rejecting the bailout deal but since they have come in they have encountered problems with trying to amend the terms.

The Euro has fallen against both the Pound and US Dollar recently but with a 4 month extension being granted this weekend this is likely to see the Euro strengthen during the early course of the week.

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

 

 

Despite poor UK Retail Sales data released this morning, the Pound has remained strong against the Euro. The world waits to see the next step of the Greek ‘Grexit’ bailout, with the most likely outcome looking to be an extension to the current loan agreement. The next repayment date is 28th February so time is very definitely running out.

I personally feel that up to 3 cents is built in to the current rate of exchange on Greek uncertainty, potentially meaning that if Greece is bailed out rates in the early 1.30s would be seen again. Therefore, if you are buying Euros you may be wise to make a move sooner rather than later to avoid missing what are 7 year highs!

Those selling Euros may want to ensure that their position in the market is set for the weekend, as if any announcement is made out of hours the market could swing violently. Those selling Euros could potentially look to achieve low 1.30s next week if Greece achieves a favourable bailout, however you’d need to ensure that you’ve spoken with a specialist Foreign Exchange broker to enter this ‘limit order’ option.

If you have an exchange requirement, or would like to see how we are able to beat your current provider (broker or bank), feel free to call me on 01494 787 478. Please ensure that you quote my name and this blog to access the very best rates!

I look forward to being of assistance…

Andrew Bromley

01494 787 478

AJB@currencies.co.uk

GBPEUR has spiked up again in the last two days presenting some excellent opportunities for savvy buyers and sellers. How should you play such uncertainty? I think the key thing is to keep up to date with the latest news and make sure you don’t have your sights set to high. In such a volatile market the chance of disappointment is high and it is the greedy who often lose the most!

If you have a transfer to consider getting some information from a currency specialist might be just what you need to help you make an informed decision about the exchange. For more information please contact me Jonathan on jmw@currencies.co.uk

GBPEUR rates at SEVEN YEAR HIGH

GBPEUR rates continue to climb yesterday following an improvement in UK unemployment figures. There are concerns still in the market including the slow wage growth seen which need to be up towards 3%-4% ideally to create extra growth in the market.

Looking forward everyone is watching Europe and the Greek discussions that could change the markets significantly once a solution is found or a decision made.

Other events to watch out for is UK Retail figures tomorrow which is expected to show an improvement giving the Pound a further boost.

For more information and a personal view on your situation please feel free to get in contact with myself, Steve Eakins. Email may be best at hse@currencies.co.uk or feel free to call on 0044(0)1494-725353.

Sterling Euro exchange rates have risen once again following some very positive UK unemployment data which showed a fall to 1.86 million.

The UK unemployment figures stands at just 5.7% and the employment rate is the highest level since records began over 40 years ago.

Sterling Euro rates have improved by 0.8% during today’s trading session and the Bank of England minutes confirmed a 9-0 vote in favour of keeping UK interest rates on hold.

One positive to come out of the minutes was that two of the members suggested that the decision was ‘finely balanced’ which means the decision could change next month which in theory would help Sterling.

The main factor affecting GBPEUR exchange rates is the continuing problems for Greece and the Eurozone. Until this is sorted I think this will add to Euro weakness.

If you would like to take advantage of these 7 year highs for GBPEUR and have a currency transfer to make then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

Unemployment has dropped to 1.86 million, a reduction of 97’000 in the three months up to December. This coupled with a rise of average earnings has caused GBP/EUR to settle in the high 1.35’s.

The ONS (Office of National Statistics) has stated average earnings including bonuses have risen 2.1% in the quarter when compared with this period last year. This is something the general public can really feel in their pockets with the current reduction in oil prices and the super aarket price war which has caused a drop in food pricing. Rates at their current level represent a very favourable time for Euro buyers, to purchase while in the 1.35’s is not to be sniffed at. I am confident a renegotiation or extension for Greece’s debt will be reached on Friday in which cause the Euro will bounce back. I think waiting for further Sterling strength could be a wrong move, to procrastinate could be your downfall.

If you wish to call me to discuss your currency requirements please do get in touch by calling me on 01494 787478 and ask for Daniel Johnson, alternatively drop me an e-mail on dcj@currencies.co.uk .

GBPEUR might hit 1.32

GBPEUR could hit 1.32 if a Greek deal is reached. This would cause the Euro to rise against the pound as investors have faith in the Eurozone to work through their problems. We can help you to make a decision by offering useful information on what might move your exchange rate higher or lower. If you need to make a transfer please speak to me Jonathan to run through all of your options. I think that any resolution in the Greek situation will cause the Euro to rise against the pound but any rise will only be tempoary.

If you need to sell Euros making some firm plans now is the best way to limit your exposure to this incredibly uncertain period on the markets. For more information please speak to me Jonathan on jmw@currencies.co.uk

The Pound although having lost ground this morning, is back in the 1.35s. The UK released poor inflation data (as expected), and at the time of the data release the Pound had slipped in to the 1.34s. The UK Inflation level released was the lowest since records began, so proved that the Sterling strength is not on totally solid footings!

Looking at GBP EUR specifically, I think that up to 3 Cents of the current rate is uncertainty built in by the potential Greek bailout. As there is a good chance that Greece will be bailed out (possibly even before Friday), I would be looking to take advantage whilst the rates are so high!

1.35 and above are seven year highs, so in my opinion not worth Euro Buyers missing out on! Those selling Euros may want to get themselves ready for a potential shift down in the GBP EUR rate next week, following the potential bailout…

If you have a currency exchange requirement, please feel free to get in touch on 01494 787 478 ( please ask for Andrew Bromley on the Euro Desk). Alternative email me – AJB@currencies.co.uk

A largely uneventful day today. Gains were made against the Euro to push the mid-market rate back above 1.35 at the close of trading today.

The reason why there was little movement on the markets was due to American and Canadian public holidays. The USD-EUR currency pairing is the most traded currency pair in the world, so there are normally large secondary effects on other currencies involving Euros. However, with the US banks being closed, the only news governing market movements was the same waiting game for the talks with Greece.

All that was heard today on the news was ‘agreement looking less likely’ on the news stands. I still believe this is politics and has little substance. Both sides will have to compromise as neither can currently afford for Greece to leave. However, the Greek delegation, more than the European Leaders, cannot afford to reach a compromise quickly. They must be seen to be fighting all the way – to prove to the Greek people that they did everything they could. As such this delay is not reflective of a deal unable to be reached, but simply standard worries by politicians about the timing of any inevitable announcement.

As I posted at the end of last week – the uncertainty around the situation in Greece is holding down the value of the Euro, which is actually waiting to come back up. Much better than expected GDP figures for the Eurozone as a whole were released at the end of last week. Not just from the better performers like Germany, Italy noted surprising growth which encouraged global investors. It seems everyone is poised ready to hear the news coming out of Greece. As soon as the news is released, which I’m confident will be an agreement, they will pounce to purchase the Euro, immediately driving up demand and therefore the value of the single currency.

Do not miss out on this opportunity to purchase Euros. The only reason investors haven’t jumped on the Euro already is because they need official announcements to proceed with investing other people’s money, such as pension funds. These rates are thus gift wrapped, and should be taken advantage of ahead of time, particularly when it is hard to judge when the news will break. I believe it will be this weekend so that leaders can control the market fallout (with no banks being open for trading).

I would also encourage those looking to sell Euros to contact me ahead of this announcement. If we are in a position to take advantage of any sudden spike of the rates in your favour before the markets balance out, you could gain back a large amount of the ground you have lost since the start of January.

If you would like to take advantage of these 7 year highs for Sterling Euro exchange rates and want to save money on your currency transfer compared to using your bank then contact me directly for a free quote. Joshua Privett – jjp@currencies.co.uk – 01494 725353. I can also peg rates for up to 12 months, should your requirements not be until later in the year, with the UK election on the horizon, this is a popular option.

GBPEUR could drop on a Greek resolution

GBPEUR is likely to drop on the settlement of the Greek uncertainty, that is once the Eurozone can agree on a package for the Greeks and a framework within which they can all make a plan to settle the huge outstanding Greek debt. To what extent will this happen? Well there are never any guarantees on the market but we would expect by and large to see the situation rectified which will cause the Euro to strengthen.

Let us look at the facts. Both side want Greece to remain part of the Euro. To let Greece leave will set a very dangerous precedent for the rest of the Eurozone which might lead to further countries leaving in the future. On balance I would expect the rates to remain good for buying but strengthen once the resolution is achieved.

To keep up to date with the latest new on the Euro and GBPEUR please contact me Jonathan on jmw@currencies.co.uk

We brushed into fresh 7 year highs against the Euro today! Closed just below 1.35 at the end of trading today.

These rates were the result of a very positive speech delivered by the Bank of England Governor Mark Carney. In a speech where he was set to discuss the record low inflation figures this quarter, he surprised the markets by discussing his very positive outlook for the British economy. Removing some of the stains made by recent figures, injecting some confidence back into Sterling.

Trying to secure his position as the Governor? That remains to be seen.

The key point here is that he felt confident enough to deliver a speech that he knew would boost the value of Sterling in the short term. This is against the Bank of England’s recent policy to devalue Sterling, as it is becoming apparent that the Eurozone is having severe difficulty affording our exports and services. This must mean he is expecting the Euro to gain some ground against Sterling soon otherwise this would be very foolish indeed.

Thus, like most analysts now, we are expecting a resolution on the Greek crisis. This will either be announced tonight or sometime before Monday. When this is done, all of the uncertainty that was holding down the value of the Euro will be lifted. And then, these unsustainable rates will be lifted.

This is still a golden window of opportunity to purchase Euros. I recommend having a look at your situation and emailing me overnight for some more detailed advice to your situation if you are not in a position to move yet, or indeed if you are in a position to take advantage of these rates. My email is jjp@currencies.co.uk