GBP/EUR sees further losses today, this time from events in the US (Joshua Privett)

Pound to Euro exchange rates have come under further pressure in the afternoon trading session today, with rates coming back down to the early 1.17’s on GBP/EUR, after a brief recovery in the morning was quashed.

Monday was where the most extreme losses on GBP/EUR could be found, with the result of the first round of the French election driving exchange rates down into the high 1.17’s after rates had touched on 6 month highs in the 1.19’s earlier last week.

The reason for the euphoria and confidence in the Euro? It seems extremely unlikely that Marine Le Pen will be the next French President. As with the Brexit when it seemed unlikely the UK would be leaving the EU the Pound was gaining in value with greater market confidence. Now that Marine Le Pen, the anti-EU candidate seems further and further away from the seat of power, we have seen similar Euro strength in this fashion.

The movement today however further in the favour of Euro sellers is largely artificial. Very poor consumer confidence figures in the US meant that due to the special relationship between the US Dollar and the Euro, the Euro gained value. Effectively investors flocked away from the US Dollar, and the Euro is the largest net to catch them in.

However, precisely because the movement is artificial, and given that GBP/EUR had been moving in a positive direction earlier that day, it’s more likely than not that a currency improvement will be seen tomorrow. Euro sellers should be considering moving sooner rather than later given the recent improvements in your favour.

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on  jjp@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.

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

French election news strengthens the Euro vs the Pound (Tom Holian)

Sterling vs Euro exchange rates have fallen from their recent high reached five months ago after the UK announced a snap general election last week.

This gave the Pound a much needed boost vs the Euro but the gains have been short lived as the French elections announced their first round of results over the weekend.

The French public have voted for two candidates who will now go head to head in the next round which is due to take place on May 7th. The likelihood is that Emmanuel Macron will defeat the more controversial National Front leader Marine Le Pen.

This has led to the single currency recovering from its losses from the end of last week and the reason for the improvement in EURGBP exchange rates during today.

On Thursday there are a number of data releases likely to affect GBPEUR exchange rates with Services data from the Eurozone alongside a Business Climate indicator survey.

This will be followed by the latest European Central Bank decision due out and the subsequent statement released by ECB president Mario Draghi.

Having worked in the foreign exchange industryfor one of the UK’s leading currency brokers since 2003 I am confident not only of offering you bank beating exchange rates but also help you with the timing of your trade,

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Will GBPEUR rise or fall on the French elections?

The general impression is that  GBPEUR will rise since the French election offers lots of potential for Euro weakness in the coming months. The overall impression on financial markets is that a Le Pen or Melenchon victory would severely weaken the Euro, with a real chance at least one of these candidates will make it through to the second round after Sunday’s first round vote the single currency could be in for a tough couple of weeks. What happens is very much open to interpretation, nothing should be taken for granted in such uncertain times, however.

The overriding expectation is that the French election will ultimately be won by the more centrist ‘reformer’ Macron. Performing well in the polls the market is expecting he will beat Le Pen in the run-off on the 7th May. If you have a Euro buying requirement the rates on Monday morning could be much improved as the market debates the likelihood of a Le Pen victory.

The pound has been much stronger on the back of the General Election announcement earlier this week for the UK. Most reports have the pound much stronger in the next few weeks as Theresa May cements her position and is able to drive through more reform. A flipside view is that with her relying less on the elements in the Tory party who seek a harder Brexit, she will be forced to create more of a softer Brexit. This is one of the reasons for the pound rising but such elements and expectations can quickly change.

If you are buying or selling the pound and euro in the coming days and weeks the importance of the French election and the continued Brexit fallout shouldn’t be underestimated. With only a few days between the two rounds of the French election Euro buyers might find they are presented with a fresh unique opportunity to buy Euros, the best in 2017 so far.

If you would like some assistance with the timing and planning of any currency transfers please contact the author Jonathan Watson directly by emailing jmw@currencies.co.uk

1.20 Still a Key Resistance Level for GBP/EUR Exchange Rates (Matthew Vassallo)

Sterling has met resistance under 1.20 against the EUR and is struggling to break through this key level for the pair.

Despite this week’s positive move, I am not convinced that the recent trend will allow the Pound to sustainably move above this threshold.

Sterling has gained over two cents following UK Prime Minister Theresa May’s decision to call a snap general election in June. This positive move went against the grain, as historically any political U-turns usually bring with it a level of uncertainty and the currency in question is put under pressure. As regular readers will know any economic & political uncertainty is a currencies biggest downfall and for this reason I would be extremely tempted to take advantage of Sterling’s gains over the past 48 hours.

There are still many unanswered questions and despite many assuming the result of the election is a forgone conclusion, last year’s political outcomes in terms of the Brexit result and President Trump’s victory, should head a warning to us all that the expected outcome does not always come to fruition.

There is no doubt Sterling has gained a foothold and EUR sellers may well have missed the opportune time to sell their positions but the current levels remain attractive, certainly when you consider the history on the pair.

The main talking point over the next few of weeks is likely to centre around the French elections and with the far right Marine Le Penn once again gaining support, having seemingly been out of the race, investors are likely to be extremely wary about what the outcome could be should she get into power. With so much economic and political uncertainty across the Eurozone region are you prepared to gamble on a seismic shift in market conditions, which would be needed to significantly boost the EUR value in my opinion.

My overall opinion is that both buyers and sellers should be looking at short-term market opportunities to secure their transfers, rather than gamble on the long-term outcome whilst so much uncertainty surrounding the UK & Eurozone economies remains.

If you have an upcoming GBP or EUR currency transfer 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, I can be emailed directly on mtv@currencies.co.uk.

Pound to Euro rates still rising following snap election call (Joshua Privett)

The Pound has surged to a 6 month high against most major currency pairings following a strong show of support for the Pound in response to the snap election call by Theresa May.

Why such a strong showing of support? Many queries I received yesterday were in response to currency market theory. In the past a general rule of thumb around elections is that they tend to weaken the currency in question in the run up to the vote and the results. This is due to heightened uncertainty surrounding the event and the potential implications of the results. Currency investors are normally loathe to make strong bets on potentially surprising outcomes – the ramifications of the Brexit vote being a major example of where this can go wrong for investors.

Instead, this vote is occurring in exceptional times. The Conservatives are effectively looking for a mandate, and to quell calls for a Scottish Referendum, and the polls suggests they have the ability to do this – particularly why the Labour party appears to be in such disarray.

Currency markets are effectively responding well to a more solid British government heading into the Brexit negotiations, as the Eurozone will not see a dark cloud hanging over the British Parliament and use this for negotiation leverage. Furthermore, currency markets have normally favoured pro-business conservative candidates, so a few more years of continuity and unencumbered rule by conservatives should always provide some form of rally…

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on  jjp@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.

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

Pound Euro exchange rates on the rise (Tom Holian)

Pound vs Euro exchange rates have continued to improve since the formal announcement that Brexit talks can begin and we are now at the best rate to buy Euros with Sterling in over 6 weeks. The French elections are due to start in the next fortnight and at the moment the polls are showing quite mixed reports in Europe.

The controversial character and leader of the National Front Marine Le Pen appears to be looking like one of the favourites to get through the first round of voting which takes place on 23rd April.

However, the likelihood is that Emmanuel Macron will end up winning the final round which takes place on May 7th.

The problem for the single currency is that once the elections begin this is likely to cause a lot of volatility for Sterling vs the Euro and in my opinion I think we could see problems for the Euro and this could even result in GBPEUR rates hitting 1.20.

Therefore, if you need to buy Euros it would be worth your while paying close attention to what will happen once the voting in France takes place.

As we enter the Easter break the markets will be still be moving globally so if you’re based in the UK you may wish to contact me at some point today if you have a currency purchase to make in the next week.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency providers I am confident of being able to offer you better rates of exchange than using your own bank.

If you have a currency transfer to make and would like to save money on exchange rates then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Sterling hits an 8-day high against the Euro as French Presidency fears hit the single currency (Joseph Wright)

The Pound to Euro rate exceeded 1.1750 yesterday afternoon and the pair have held strong above this level so far, as at the time of writing the pair are still trading above this level at the mid-market level.

What’s also interesting to see is that today’s low so far is 1.1756 which indicates to me that there could be support for the pair at this level.

With Sterling gaining slowly since the official start to the Brexit process it appears that the currency has hit its lowest level and it’s now on the recovery, which many within financial markets suggesting that the Brexit has been priced into the Pounds value.

What may help the Pound make additional gains against the Euro later this month is the French Presidential election. There have been fears and hedged bets against the Euro as there’s a chance far-right candidate Marine Le Pen could perform better than many are expecting. This would likely result in Euro weakness due to her plans for a Frexit, but over the past week the increasing popularity of far-left candidate Jean-Luc Melenchon has also weighed on the Euros value due to his views on tax tariffs.

Now that Brexit is underway economic data is playing a more prominent role in the currency fluctuations involving the Pound, so if you’re planning on making a currency exchange involving the pound and another currency do feel free to get in touch regarding these events.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well 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.

 

What next for GBPEUR?

GBPEUR exchange rates could now enter a very important period as we get closer to the French elections and investors take stock of the latest news on sterling. All in all, it appears to be a much more important time on the markets with investors keenly awaiting the latest news on Brexit and the French elections. I personally can see the GBPEUR rate rising on the improved sentiments over the pound whilst the Euro might weaken as we get closer to the French elections.

GBPEUR is actually 4 cents higher today than the lower levels of 2017 which is in itself a great bit of news. The prospect rates might even improve further is even better news! If you have a transfer t make in the coming weeks then understanding the market and all of your options well in advance is vital to making the most of this volatile time.

GBPEUR still has some doom merchants predicting it will drop to parity later in the year, that would not be very good news for any clients looking to buy Euros in the coming weeks. Tomorrow is the latest UK Unemployment data before we head into the long Easter weekend. Friday is Good Friday and Monday Easter Monday so there will be four days of decreased activity and thinner volumes. This can sometimes lead to some unexpected spikes so if you are making a GBPEUR transaction in the next couple of weeks understanding what is happening in advance is a smart move.

GBPEUR rates might rise but there is also a degree of risk, clearly, the Brexit is a risk factor in the days and months ahead. If you have a transfer and wish to get some expert opinion and insight on the markets then please feel free to get in touch with me Jonathan by emailing jmw@currencies.co.uk

Pound falls against the Euro owing to poor economic data (Tom Holian)

The Pound has ended the week falling against the Euro after the UK posted worse than expected economic data.

UK Industrial & Manufacturing data both fell in March and this led to the Pound falling from close to a 1 month high earlier in the week vs the Euro to 1.1.6 during today’s trading session.

After the triggering of Article 50 last week the focus has now turned back to the economic data both here and the Eurozone and owing to the lacklustre data the Pound fell vs the single currency.

We also saw the release of the latest three month’s worth of UK GDP data published by the NIESR.

The figure was 0.5% for the quarter which although is still relatively strong it didn’t give the markets the boost they were perhaps looking for.

Moving the focus towards next week UK inflation data will come out on Tuesday morning.

Inflation has been rising recently in the UK and the previous month’s MPC meeting minutes showed that one of the 9 members actually voted for an interest rate hike.

Therefore, if inflation shows another increase on Tuesday it could provide support to last month’s vote and we could see a slow shift in favour of raising interest rates in the UK sooner than some have predicted.

Therefore, if you’re considering making a currency purchase between Sterling and Euro then Tuesday could cause some big movements depending on the data release.

If you would like a free quote when buying or selling Euros compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Having worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates.

Email me with details of your enquiry.

Tom Holian teh@currencies.co.uk 

GBP/EUR breaks 1.17 as services sector remains strong, will the pair hit 1.20? (Joseph Wright)

The UK economy was given a boost yesterday as data showed that its most important sector is performing well.

Economists had anticipated growth in the UK’s services sector but the figure came out higher than they had expected, and the reason Sterling saw a boost of the back of this data release is because the services sector accounts for around 75% of the UK’s economy.

For this reason data releases reflecting the health of this area of the economy can result is swings within GBP exchange rates. Due to the UK entering what could be considered a sensitive time as Brexit is now underway I expect to see these figures followed closely and I think we may see dips within the Pounds value should these figures disappoint.

Another news release which could be watched closely is Gross Domestic Product figures as these will also reflect the health of the UK economy. The next release comes out tomorrow at 1pm and the expectation is for a figure of 0.6% so expect any major deviations from this figure to result in swings within GBP/EUR exchange rates.

If you would like to be kept updated regarding major movements between the Pound and the Euro do feel free to register your details with me.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well 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.

Could the Pound hit 1.20 this month? (Tom Holian)

With the trigger of Article 50 now one week behind us the focus is now returning back to the economic data in both the UK and the Eurozone.

The Pound has seen some small gains since last week touching 1.17 on the Interbank level during today’s trading session and the Pound has been creeping up against a lot of other currencies during the course of this week.

We are now less than 3 weeks away from the French elections which are likely to cause problems for the Euro as the controversial politician Marine Le Pen looks as though she will get through the first round of voting due to take place on 23rd April.

However, although she is very likely to get through the first round the likelihood is that she will be defeated when the second and final round takes place on 7th May.

However, as we have already seen with the Brexit vote and the Trump win during 2016 there appears to be a voice for change so anything is possible when it comes to politics.

If we see a surprise win for Le Pen this could send GBPEUR rates in an upward direction very quickly but personally I would be amazed to see her win the elections next month.

In the short term the UK releases the latest set of GDP figures for the last three months when the NIESR confirms the data on Friday. I think this could be rather positive for the UK as Retail Sales released recently showed a big jump and as Retail Sales are a big part of the British economy I think this could result in some positive GDP figures.

Therefore, if you’re in the process of buying Euros with Pounds then the end of the week could potentially provide a better opportunity.

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly and I look forward to hearing form you.

Tom Holian teh@currencies.co.uk

 

Where Next for GBP/EUR following the triggering of Article 50? (Daniel Johnson)

Trade negotiations will be crucial to the value of the pound following the triggering of Article 50. Theresa May has been very positive in regards to how trade negotiations will proceed. She spoke yesterday and claimed the UK will be able to use the blue print of up to fifty current trade agreements already in place. Essentially copying deals that already in existence to avid the long drawn out negotiations process.

This could cause the first clash with Brussels. May stated “It will be possible to simply cut and paste deals with countries such as South Korea, Mexico and Jordan.”

She has caused some commotion by now claiming the exit process could take more than two years. This is not surprising to myself as I recall Sir Ivan Rogers, head EU ambassador resigned from his position stating the two year target was unrealistic. He said “negotiations could take up to ten years.”

Despite the elongation of trade deals, I am of the opinion Sterling will rally as trade negotiations progress. I do not think it will quick significant gains, more a slow steady rally.

Take in to account Marine Le Pen has the opportunity to take power in the French elections and we could see the pound gain strength against the Euro later in the month. The Head of the National Front has claimed she will hold a referendum in the event of victory. We have already witnessed the effect a referendum can have on a currency.

If you have a currency requirement I would be happy to assist. I will provide a free trading strategy to suit your individual needs and also I will perform a comparison with your current provider to demonstrate your potential savings by using our services. I can be contacted at dcj@currencies.co.uk.

 

 

 

 

Pound to Euro exchange rates soften following poor manufacturing and construction data (Joshua Privett)

Pound to Euro exchange rates have been having a more difficult time as of late with economic data coming to the fore now that Article 50 has been triggered, and it is no longer the daily machinations of the Brexit negotiations governing exchange rates.

The Pound has begun the month poorly so far after some underwhelming manufacturing and construction figures were released for the UK economy on Monday morning and now this morning.

These were business confidence figures in these sectors, which were benefiting heavily from the supportive impact of a cheap Pound on UK exports, and the government’s recent drive for infrastructure investment.

Whilst these are still positive, this enthusiasm appears to be muted compared to where we have been previously. This is likely due to the recent Spring Budget which didn’t announce as sweeping an investment as expected in UK infrastructure, and due to the recent gains for the Pound eating into the competitiveness of the manufacturing industry.

However, the spotlight will shift to the Eurozone’s own data later this week, and again with the first time in a while that economic data seems to be playing a major part in exchange rate movements, Euro buyers should be looking keenly to the results later this week in dictating trends for Pound-Euro rates as the year continues.

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on  jjp@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.

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

GBP EUR Falls after Weaker Manufacturing (James Lovick)

The pound has taken a tumble against the Euro after weaker than expected manufacturing numbers released yesterday from the Purchasing Managers Index. The numbers represent the third month running where the figures were not up to scratch which has helped see the pound fall lower. The numbers came out at 54.2 against expectation of 55.1 and whilst still in expansionary territory the weaker numbers do highlight concerns of a slowing down in the British economy. Clients selling Euros may see a small window of opportunity in these coming days.

This morning sees UK construction data from the Purchasing Managers Index and any weakness here could wee further weakness. The construction sector is usually one of the first sectors to show problems at the start of a downturn although it is unlikely there will be a material drop off.

EU retail sales numbers are released this morning and should give some clues as to the strength of the consumer across the European Union. ECB president Mario Draghi will be making a speech later today and any comments are likely to have an impact on the price of the Euro. It has been reported that the ECB have been concerned over what has been described as a market over reaction to his comments from the last policy meeting. His words will be carefully chosen today so expect volatility.

Politics surrounding Brexit will continue to be the main driving force and any statements from British and EU leaders are likely to have a direct impact on the pound. My view remains that any gains are likely to be very limited in the short term.

If you would like further information on sterling or Euro exchange rates or any of the major currencies and to discuss how we can assist 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

Pound to Euro exchange rates soar heading into the weekend (Joshua Privett)

 

Pound to Euro exchange rates have seen their first signs of true life in a while, with the Pound rising heavily against the Euro to end a week on the currency markets which saw almost no movement on the day Article 50 was triggered, but went haywire at the release of a short summary of the Eurozone’s positions heading into the negotiations.

Clearly this is what currency markets believe is the defining moment heading into the negotiations, as the UK can be as positive as they like, but the reaction from the Eurozone will define the likely trajectory of where an eventual deal may land.

The tone from the Eurozone was constructive, positive, and even left room for future trade negotiations to begin before the UK has officially left, making it seem likely that a deal will be reached sooner than expected.

From now markets will be looking ahead to the French elections and will, if current polls remain where they are, provide some support for the Euro since it seems fairly unlikely now that the anti-establishment and anti-EU candidate, Marine Le Pen, will come to power, creating opportunities for Euro sellers.

It is simply judging how much momemtum this euphoria surrounding the Pound will last.

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on  jjp@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.

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

Pound vs Euro at the highest rate since February (Tom Holian)

Pound to Euro exchange rates have hit their best rate to buy Euros since late February.

Since the triggering of Article 50 on Wednesday the Pound has edged up against the single currency despite some previous predictions that the Pound would struggle once the formal announcement was made.

It appears as though the value of Sterling Euro exchange rates for the last few weeks has been priced in which means there was an expectation for the trigger of Article 50 so when it was actually announced it cause little movement for Sterling.

Indeed, at least for the time being the focus will now turn back to the economy before the EU negotiations will take place.

We saw UK GDP come in line with expectation shrugging off any Brexit fears for the fourth quarter of 2016 and this has also lent the Pound some support vs the Euro.

Also, published yesterday were Eurozone inflation figures which saw a big drop from the expectation of 2% to 1.5%.

This caused weakness for the Euro sending GBPEUR exchange rates up to their highest level since the final week of February. Good news if you need to buy Euros to send to Europe for a property purchase or even living expenses.

The reason for the weakening of the Euro is that if inflation falls it demonstrates that the QE programme which the ECB has in place until early next year it not necessarily working which means it could be extended.

It also means that the ECB will not be able to increase interest rates for quite some time. Therefore, this is the reason why we have seen Sterling increase against the Euro towards the end of the week.

If you have a currency transfer to make and would like to save money when buying or selling Euros then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

GBP EUR after Tusk Statement (James Lovick)

Now Article 50 has been invoked the markets are paying close attention to any clues as to what the negotiations will ultimately look like when they commence. The European Union confirmed today that negotiations concerning the exit bill and a future trade agreement must be discussed independently and the exit bill settled first. This is in stark contrast to the desired approach by the British government insisting that both issues must be discussed simultaneously.

Despite the suggestion that Britain could be off to a bad start the pound has proven extremely resilient so far. There is likely to be an uncertain period as we approach 29th April which is when the EU next meet to discuss the issue of Britain.
Politics will now be the main driver for sterling Euro exchange rates for the next two months in particular and potentially next two years.

The French election is also fast approaching with the first round being held 23rd April. In my view the Euro could see some considerable market weakness as the date approaches as Marine le Pen may have a big last push to win votes. This would materially change the shape of the European Union and could put the EU in an extremely precarious position. A Le pen win cannot be ruled out and I am of the opinion the markets have not yet started to price in such an eventuality. Those clients selling Euros may wish to move sooner rather than later should the Euro fundamentally weaken.

UK Gross Domestic product figures (GDP) released this morning were not revised up as many had hoped although the pound has remained relatively well supported against the Euro having briefly touched 1.17.

If you would like further information on sterling or Euro exchange rates or any of the major currencies and to discuss how we can assist 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

Pound to Euro exchange rates partially softening ahead of EU Brexit guideline release (Joshua Privett)

Pound to Euro exchange rates rallied fantastically yesterday for anyone with a planned Euro purchase, with the losses recorded across Tuesday and Wednesday evaporating as the sudden surge in confidence in the Pound pushed rates back above 1.16. A far cry higher than the 1.13’s on offer earlier in the month.

So where did this confidence come from? Most analysts are attributing this to a delayed fuse.

Tuesday saw the Pound lose heavily as investors sold off the Pound in order to avoid any exposure to the events of Article 50 the following day. Yet the day itself Sterling actually saw a net improvement on exchange rates. When markets woke up to find that no apocalypse on the exchange rates similar to the Referendum itself had manifested, the Pound began to be bought up in droves. Increased demand as always equates to increased value.

However, it is now the Europeans turn to comment on the upcoming negotiations, with statements to be released on their own expectations for the formats of the talks, and, crucially, what should be addressed first.

Will this produce a less amiable tone towards the negotiations than what Mrs May envisages? Quite likely. Merkel and Hollande have already come out reflecting this oppositional tone.

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on  jjp@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.

I strongly recommend calling me directly on 01494 787 478 and asking the reception team to be put through to Joshua to discuss a strategy for your transfer based on your situation.

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

 

GBP EUR Reaction to Article 50 (James Lovick)

Despite a muted reaction for GBP EUR exchange rates yesterday after the Article 50 letter was given to Brussels, the pound has made considerable gains against the Euro this afternoon. GBP EUR has broken through 1.16 and has 1.17 firmly in its sights. The mood has been generally positive after Article 50 has been invoked but there does now appear to be a considerable amount of support for GBP EUR. Those clients looking to buy Euros may see some further gains as the markets appear to be at ease with Brexit. Clients selling Euros may be wise to consider moving sooner rather than later and take the excellent selling prices which have been available for these last nine months.

Will the Pound Strengthen?

Politics is likely to be the main driving force in these coming days and weeks and the first decision to be made will be whether or not the EU are prepared to discuss the negotiations of an exit bill and future trade deal in tandem. This is the first key decision that will set the scene of the next two years and any clues as to the process could see considerable volatility.

The Brexit negotiation has in effect already begun with both German Chancellor Angela Merkel and French President Francois Hollande already insisting that the exit bill must be discussed first. This may of course change and no official line from EU27 has been offered yet.

UK GDP numbers are released tomorrow and a positive number could help see the pound strengthen. EU inflation numbers are also released tomorrow and could create some market reaction. The European Central Bank managed to give the wrong signals at the last interest rate meeting so anything out of the ordinary could muddle things further in these uncertain times.

If you would like further information on Euro exchange rates or any of the major currencies and to discuss how we can assist 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

Article 50 triggered so what next for Pound to Euro rates? (Tom Holian)

With Article 50 now having been triggered we have not seen some of the volatility on Pound Euro exchange rates that many were expecting.

The event itself left markets with little to move on and so the foreign exchange markets as well as global stock markets remained relatively flat.

The UK has now formally triggered Article 50 of the Lisbon treaty and as we have officially started the Brexit process we have now passed the point of no return.

Prime Minister Theresa May went on to try and reassure markets that the UK will be looking for the best possible deal for the UK and she is hoping to make ‘close ties’ with Europe.

I think the speech gave some reassurance to Sterling but as the trigger was expected to happen Pound to Euro rates did not see much movement.

Therefore, the focus will once again turn back to economic data.

Eurozone Consumer Confidence data is due out shortly and this is likely to impact Sterling Euro rates.

Tomorrow we could see a big day for the short term trend for Pound Euro exchange rates with a number of different data releases due to come.

On Friday UK GDP data is due out at 930am followed by Eurozone Consumer Price Index at 10am so expect to see big swings on GBPEUR exchange rates during Friday morning as both data releases are expected to be positive for both sides

Having worked in the foreign exchange industry for one of the UK’s leading currency brokers I am confident that I can offer you bank beating exchange rates. 

If you have a currency transfer to make and would like a free quote when either buying or selling Euros then email me directly with your particular requirement and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk