Is the bullish run for GBP exchange rates now coming to an end? (Joseph Wright)

Sterling exchange rates have had a poor start to May with a few exceptions, with GBPEUR now trading over 3 cents below the almost 3 month high of 1.2900 that it hit last month.

It would seem that the recent boost to Sterling exchange rates are now dwindling, which isn’t surprising considering we have the EU Referendum just around the corner and the upwards spike was quite surprising anyway.

Many within the marketplace had been expecting a slow gradual decline in Sterling’s value as we approach the EU Referendum on the 23rd of June. Political uncertainty usually drags down the value of the underlying currency and that’s why Sterling’s recent bounce came as a surprise to many, and the upwards bounce in the GBPEUR exchange rate was down to the most recent ‘Brexit’ polls pointing to a strong ‘Remain’ lead.

This swing within the polls was down to a number of world leaders such as Christine Lagarde, Barack Obama and Mark Carney all offering their support for the ‘Remain’ campaign and warning of the risks to the UK economy moving forward should the public opt to leave.

I think that those looking to convert GBP into another currency such as Euro’s should consider making that conversion sooner as opposed to later, as the polls could always change once again and it only takes one or two significant persons to lend their support to the ‘Leave’ campaign and we could see another swing like when Boris Johnson pledged his allegiance to the ‘Leave’ campaign.

If you have an upcoming currency requirement involving GBPEUR it may well be worth your time getting in contact with me (Joseph Wright) 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. You can also call me directly on 01494 787 478.

New Buoyancy Levels for GBP/EUR. (Daniel Johnson)

Markit Purchasing Manager’s Index (PMI) were released yesterday. PMI is a measure of manufacturing activity in a country. We have seen a decline for the first time in April since 2013 which clearly shows the impact the uncertainty regarding the EU referendum. Figures came in at 49.2, down from 50.7. Anything above 50 is considered growth.

Construction PMI has just been released coming in at 52 so I would expect a decline in Sterling against the Euro this morning. If you are a Euro seller I would be looking to take advantage of current rates, this may be a small window of opportunity as although I think the EU referendum will be a tight call, I believe Britain will remain in the EU and as a result we may see GBP/EUR hit 1.35.

If you have a currency requirement I will be happy to help, I specialise in property and commercial trade and I am in a position to beat high street banks by as much as 5%. Please do not hesitate to get in touch for a free quote by e-mailing me at dcj@currencies.co.uk.

GBP/EUR sees heavy slides from manufacturing woes (Joshua Privett)

Unfortunately it seems that buying rates for Euros will be subject to continued pressure over the next few weeks, with GBP/EUR sliding back in the 1.26’s and knocking on the door of 1.25 as UK markets open once more following the Bank holiday.

Sterling had been enjoying rates of exchange much higher than where we were just a few weeks ago when buying Euro rates were on the verge of knocking below 1.20.

The main impetus for Sterling’s original rally can be found in Obama’s recent visit to the UK, and the positive effects this had on the leave campaign. However, the momentum from his visit has now faded away.

Markets did not see a sustained change in the polls surrounding the Referendum. Currently the Remain and Leave camps are still well within the margins of error, and with the vote now next month, markets will surely be becoming nervous once more.

Poor manufacturing data released today caused Sterling’s most serious slide in a month, with total losses of almost two cents.

Rates have already proven that they can move much lower than what is currently available. Anyone with a Euro requirement may be wise to move ahead of time to avoid the expected falls as we edge further into a volatile May,

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 levels can be fixed in place to avoid the expected falls as we edge further into May and closer to the vote in June.

Sterling Euro exchange rates – Bank Holiday Round Up (Tom Holian)

Sterling Euro exchange rates have had a good month during April improving by as much as 4% or the difference of £4,000 on a currency transfer of £100,000, which can mean the difference of being able to afford to make that exchange.

The good news for Sterling exchange rates came in the form of President Obama’s recent visit to the UK when he stated that he would prefer to see the UK stay in the European Union when the EU referendum vote takes place on 23rd June.

At the same time this was backed up by the International Monetary Fund, the European Central Bank, Bank of England and UK government.

However, Sterling’s recent positive gains came to an end towards the end of the week when the Eurozone announced that its economy had grown much better than expected.

The Eurozone announced growth of 0.6% compared to the expectation of 0.4% which saw the single currency fight back against the Pound putting paid to a 2 month high to buy Euros with Sterling.

Eurozone unemployment figures also came out better than expected and the best level in over 4 years at just 10.2%.

This is another sign that the Eurozone economy appears to be improving and although inflation was still lower than the estimate the signs of positive growth and unemployment figures helped to strengthen the single currency vs the Pound.

Next week the Eurozone announces data in the form of Services as well as Retail Sales on Wednesday.

I would not be surprised to see both announcements also come out strong giving further support to the Euro vs the Pound during the middle part of the week.

With just less than 2 months to go before the EU referendum takes place on 23rd June the currency markets are likely to remain uncertain during this time and if you have need to buy or sell Euros over the next 2 months and are worried about the outcome you may wish to consider buying a forward contract.

This allows you to fix an exchange rate and removes the uncertainty of where exchange rates may be during this time.

Having worked in this industry since 2003 not only am I confident of offering you a better exchange rate than using your own bank but also helping you with the timings to help you save money when it comes to making your decision.

If you have a currency transfer to make then contact me directly for a free quote and email me a brief outline of your particular requirement. Tom Holian teh@currencies.co.uk

 

Sterling Rallies Against the EUR (Matthew Vassallo)

Any clients holding GBP should be keeping an extremely close eye on market developments, as the Pound has started to find some support over the past couple of days. This move has brought some much needed respite following a poor run for the Pound, which started at the turn of the year and has been compounded by the on-going uncertainty surrounding the EU referendum in June and a possible Brexit.

The reason we have seen the EUR weaken off against Sterling is likely due to the comments made by President Barack Obama over the weekend, which indicated Britain would be in a far worse position if we left the EU and ‘at the back of the line’ in terms of trade deals with the US. This immediately caused the EUR to weaken, as the comments are likely to sway a portion of voters, perhaps some of those who were still undecided.

This drop was intensified following yesterday’s better than expected UK GDP figures and GBP/EUR rates moved through 1.29, providing some much needed respite for the Pound. However, this spike was not sustainable and the EUR found support moving the pair back towards 1.2850. I still feel the Pound is likely to find like tough going over the coming weeks and I do not expect a move above 1.30 under current market conditions.

If I was holding GBP I would be looking to take advantage of the improvement we’ve seen this week and not gamble on what is still a fragile economy.

If you have an upcoming GBP currency requirement, then please feel free to contact me to discuss the current market conditions and forecasts. We assist clients with not only the transfer of their funds at award winning rates of exchange but we will also help you time your exchange and maximise the market value. I can be reached on 0044 1494 787 478 and just ask one of my team for Matt. Alternatively, you can email me directly on mtv@currencies.co.uk

US Presidential Candidate Ted Cruz Enters into the Brexit Debate (Ben Fletcher)

Ted Cruz today waded into the Brexit debate with an article in the Times which said he would put the UK at the front of the line for a trade agreement with the US. This evidently is the completely opposite view of President Barrack Obama who only 5 days implied Britain wouldn’t be on his radar should it voted out. It is hard to judge how much of this is Cruz differentiating from the Democratic leader and just making a statement or whether he believes Britain will be strong on their own.

What is the case today is that the GBP/EUR rate lost nearly a cent finishing just above the 1.28 mark. This most likely would have been down to the GDP releases this morning, whilst better than expected the results indicate in the last 3 months the UK economy has only grown 0.4%. This was worrying low and it appears the markets think that to. The Organisation for Economic Co-operation and Development suggested that concerns about the Referendum has caused decision members to hold off taking any risks.

In the coming few weeks the big question is after the rate has jumped 6 cents in the last few days will it continue further? I believe the recent Sterling strengthening should be considered a good time to trade. I don’t believe that the Leave campaign for example aren’t going to produce a very strong onslaught in the coming weeks, if that gains momentum the GBP/EUR could be back down in the low 1.20’s if not less. If you need to complete a Euro purchase before the referendum decision I believe the high 1.20’s currently represent a great opportunity to do so.

If you would like to find out more information about my forecast please reached out to me at brf@currencies.co.uk, it would be great to hear from you.

GBPEUR rates at near 3 month high – Why would you not buy now – STEVE EAKINS

UK GDP figures have been the focus for many traders today. This being the first estimate for Q1 of 2016.  Widely expected to show a slowdown as the concerns about the BREXIT impact business. In-fact there was no slowdown shown in the respective release this morning, the UK economy is expected to have grown by 0.7% and the year forecast has been revised up to 2.1%

This positive stance has helped the pound this morning to recapture some of the profit taking which took place yesterday. We now stand at the best levels we have seen for nearly 3 months buying the single currency.

Great news for anyone with euros to buy as most have been having a horrid time with rates down by nearly 7 cents within the last few months. Rates are currently better by over 3% compared to only 7 days ago.

Moving forward of cause the question is, will we get any higher?

I don’t think so, I have a view that within the next 7 days we will see rates wither climb by a little or drop by a lot. I think the risk out ways the opportunity for anyone with GBP to sell.

I base that on the BREXIT leave campaign being very quiet, I have not really heard Boris for some time now and he is not a man that keep quiet for long.  Yes the economic argument has been somewhat weakened by the commentary from Barack Obama but I don’t think the war has been lost, just the battle.

To move on today’s prices or to get a more personal forecast for your situation please feel free to get in contact. Call myself STEVE EAKINS or email me on hse@currencies.co.uk

Happy trading

GBP/EUR Rates Rally Following Obama’s Brexit Comments (Matthew Vassallo)

GBP/EUR rates have rallied over recent days, with the pair hitting 1.2908 at this morning’s high. Despite rate slipping back under that threshold, there has been a marked improvement in Sterling support since US President Barack Obama’s comments regarding a possible Brexit and the negative implications this could have on the UK economy. Whilst this has strengthened the opinion that a YES vote to leave the EU will harm Britain’s long-term economic prosperity and certainly negatively affect Sterling’s value in the short-term, it has angered leave campaigners who feel that he has no to get involved or try and influence the British public.

Either way investors have seen it as a vote of confidence and GBP is benefiting as a result. I do expect this support to carry GBP/EUR through 1.30 under current market conditions, although any sharp downturn in Eurozone data or problems surfacing with Greece, or other fragile Eurozone economies could change this scenario. What is clear is that the EUR improvement seen since the turn of the year should be taken advantage of by anyone in a position to do so. I think it will now be difficult for the single currency to break back through 1.25, unless the perception regarding a potential Brexit indicates we are more likely to leave than stay.

Looking ahead and we have UK Gross Domestic Product (GDP) figures out tomorrow and with the predicted figure of 0.4% growth under the previous reading of 0.6%, we could see Sterling recent rally come to an end.

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 us on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on mtv@currencies.co.uk

GBP EUR Continues to Climb after Barack Obama Trip

The pound has seen yet another good day with gains across the board as it continues to climb higher against the Euro following a good run last week and gains in excess of 0.6% today. The surprisingly strong rhetoric from US President Barack Obama who has put forward his reasons for Britain to remain in the EU has no doubt helped the pound rally. His comments have been so forceful that the markets have reacted aggressively. Bookmakers are now also pricing in a greater chance that Britain will remain in the EU and have adjusted the odds accordingly as a result of the US Presidents’ influence. His trip has helped create a good buying opportunity for anyone holding sterling moving into any other currency including the Euro.

UK GDP figures for the first quarter are released on Wednesday providing the next major British economic release which is likely to impact on the pound. The National Institute for Economic and Social research (NIESR) recently forecast GDP would fall from 0.6% from the last quarter of 2015 to 0.3% for the first quarter of 2016. This is a substantial fall and could to a certain extent be attributable to uncertainty surrounding the EU referendum. My view is that any slowdown will actually be as a result of a weaker manufacturing sector. A weak official figure could see the pound weaken on Wednesday. Buyers of Euros may be wise to take advantage of the excellent spike that we have seen over the course of the last two weeks as there may be a another rocky patch around the corner especially if the Leave campaign get their act together and put forward some stronger arguments to withdraw from the EU which should be expected soon.

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

GBPEUR forecast for this week (Dayle Littlejohn)

This weekend President of the United States Barack Obama has been rallying votes for the ‘In’ campaign. The President has exclaimed many reasons why the UK should remain part of the EU however the main talking point in the press is his statement that the UK wouldn’t be able to negotiate a trade partnership with the US for at least 5-10 years.

Couple this with President of the European Central bank Mario Draghi dovish comments about Interest Rates remaining low for a sustained period, towards the end of last week I expect the Pound to have a good start to the week against the Euro.

However GBPEUR rates have increased 4 cents in the last two weeks and this is unexpected. The volatility surrounding the UK’s referendum is going to continue to weigh down on the Pound therefore I believe this spike in the market is going to be short lived and people needing to buy Euros before June 23rd should look to take advantage now.

Data releases to look out for this week are UK GDP numbers Wednesday and EUR Consumer Price Index numbers Friday.

If you are looking to buy or sell Euros this year (especially before June 23rd), the currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales. Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on 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

The more information you provide me, the more information I can provide you. Below is a list of what I require: your name, currency pair, brief description of requirement, amount, budget, timescales, telephone number and convenient time to call.

Could Sterling Euro exchange rates break past 1.30 this month? (Tom Holian)

Sterling has had its best gains vs the Euro in weeks with GBPEUR rates now at their best levels to buy Euros in almost 2 months.

Recent sentiment behind the Brexit vote looks to be in favour of the UK remaining part of the European Union when the votes takes place on 23rd June.

President Obama, Bank of England governor Mark Carney and the IMF have all spoken out in favour of the UK staying in the European Union.

This has all helped Sterling to gain against the Euro with rates to buy Euros now at their highest levels in almost 2 months. Good news for Euro buyers for a change.

The Greek issue has again recently hit the headlines and with their next repayment due in a few weeks there is a chance of another default on their loans. A recent Eurogroup meeting held has not ended with the a resolution so another emergency meeting is likely to be called during the early part of next week.

This could see GBPEUR exchange rates break towards 1.30 but with UK GDP for the first quarter out on Wednesday could this see an end to Sterling’s recent rise against the single currency?

UK Retail Sales and average earnings have been lower than expected recently but with inflation on the rise it is difficult to predict what will happen on Wednesday. However, if you’re waiting for a bit of good fortune then this may be your chance to buy Euros at better levels if the data is strong.

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

 

 

Germany unimpressed with ECB and Mario Draghi (Ben Fletcher)

German Finance Minister Wolfgang Schaeuble has been heavily critical of the ECB’s spending policy and of Draghi himself. Schaeuble suggested that the ECB had an “ultra-loose monetary policy” which was essentially delivering low saving levels Germany. Furthermore the Minister went on to suggest that half of the support for the right wing Alternative for Germany party could be credited to ECB policies. Mario Draghi re-butted the German claims by making it clear that the ECB is mandated to achieve a certain level for the whole Eurozone and not just individual nations.

What this does show is that it’s becoming clear that the weaker economies such as Greece and Italy are essentially holding German growth back. Whilst this is almost an obvious problem given the conditions in these nations, the voting public in Germany are slowly becoming discontent, especially when their pension growth is slowing.

Brexit vote effect easing off

Over the next few weeks there will be plenty of toing and froing between the Brexit campaigns. It would however appear that the Remain campaign has laid its stool out based on economic destruction if the UK were to leave. It will be interesting in the coming weeks as the Leave campaign sets out its main points as to what the strategy will be.

Michael Gove has already made it clear that a report similar to the Treasuries is not on the cards as they don’t have the funds or the resources. The referendum will cause rates to the problem however some have predicted that most of the volatility has already happened. In the coming months it would not be surprising to see Sterling lose at least 5% against most major currencies.

Today the rate has moved further in Sterling favour as it looks possible the rate could move to the mid 1.27’s. There is data from across Europe this morning which could cause the rate to start jumping around.

Please get in contact if you have any questions with regards to my forecast and future predictions at brf@currencies.co.uk.

Sterling Edges Higher on Referendum Polls

The pound has continued its run of steady but gradual gains this week with levels for GBP EUR looking considerably better. The mood is also more optimistic with recent polls surrounding the referendum putting the remain campaign marginally ahead.

The trip from US President Barack Obama and associated press conference with David Cameron tomorrow is also expected to carry with it a currency impact. The president is widely believed to state his views that Britain should remain in the EU. Such a voice could bring with it some needed support for the pound and hence there is a good chance sterling may see a short term boost during his visit.

Today has seen the key European Central Bank (ECB) meeting and press conference with no real market reaction after interest rates were held at record lows despite new pressure from Germany. ECB President Mario Draghi is unlikely to take further action going forward considering the strong medicine he applied at the last meeting. He may however be slightly concerned with some of the recent strength of the Euro and may become slightly more dovish in his tone going forward.

For the moment the combination of the better outlook for the remain campaign and possibly some positive noises from US President Barack Obama at the press conference with David Cameron tomorrow may present buyers of Euros with a good short term opportunity. It is worth highlighting that we are only in the first week of campaigning in this referendum with much more volatility expected to come so any short term spikes to be taken advantage are likely to be short lived.

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

Sterling Euro at 3 week high (Tom Holian)

Sterling Euro exchange rates have started to move in an upwards direction during the course of this week following a change in sentiment regarding the Brexit vote.

The UK government, city of London and the Bank of England have all spoken at length of the troubled future if the UK leaves the European Union.

The potential uncertainty could cause big losses for the British economy and this has already been reflected in Sterling exchange rates but this week the Remain vote appears to be gathering some pace.

The European Central Bank are due to meet tomorrow to discuss the latest interest rate decision  and although I don’t expect any change in policy the subsequent press conference could cause a huge amount of volatility.

With inflation having risen in the Eurozone it could be argued that the recent extension of QE both in December and March appears to have worked.

However, I think there is more to come and this time around I think ECB president Mario Draghi could suggest that more QE could be used over the next few months and therefore tomorrow’s announcement could see GBPEUR rates move in an upwards direction.

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

 

 

 

The Strong Week For GBP Continues, But For How Long?

Sterling bulls and those looking to convert their Sterling into Euro’s have had a great start to the week, with GBPEUR levels hitting as high as 1.2685, a major improvement for sterling sellers when we consider that GBPEUR was trading in the low 1.23’s just last week.

The Pound’s recent gains have been due to improved market sentiment as oil has recovered some of of its losses from earlier in the week, after the most recent OPEC meeting ended unsuccessfully. Additionally the most recent polls regarding the upcoming EU referendum are pointing to a ‘Remain’ lead, which has boosted sentiment towards Sterling and driven the price up these recent highs.

Importantly, the 1.26 level hasn’t acted as a resistance for GBPEUR, which is a positive sign for Sterling bulls as it was the previous support level for around 2 months.

From a personal perspective I’m dovish on the value of the Pound moving forward, i think the political uncertainty will continue to weigh on GBP’s value whenever the subject of a ‘Brexit’ is a headline, and I think current levels offer a great buying opportunity to those looking to convert GBP to EUR that may not be around for much longer in the medium term.

If you are planning to use GBP to buy a foreign currency it may well be worth your time getting in contact with me (Joseph Wright) 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.

GBPEUR hits 1.2647

This is the high on the interbank exchange rate this morning and is a very welcome improvement following some tough weeks for Euro buyers. Euro sellers who missed the boat might do better to take stock of the still excellent levels to sell Euros for pounds compared to the rates on offer last year. Better UK data and uncertainty about what to expect this week from the European Central Bank meeting might lend support to further improvements, I have spoken previously about how I did not think the ECB would be able to get away with no further stimulus and despite the upturn in Inflation recently (from -0.1 to 0%) there does remain an expectation that the measures taken so far will not be sufficient to tackle the Eurozone’s problems.

All in all the market expectation is for the exchange rate to weaken as a result of the Brexit fears as we get closer to the EU Referendum. The current spike does seem to me to be well worth taking advantage of if you have any transfers to consider in the coming weeks and months. For more information at no cost or obligation please feel free to email me Jonathan on jmw@currencies.co.uk

Can Sterling Maintain Recent Strength? (Ben Fletcher)

Sterling closed the day just above 1.26 today even after Chancellor George Osbourne gave a damaging report from the Treasury that suggested an average household will be £4,300 a year worse off if the UK leaves the EU. The report went on to say that the UK Economy would be 6% smaller by 2030, sceptics suggested its “unbelievable” to predict 14 years in advance, especially at a rate of less than 0.5% a year which is within the margin of error.

Possibly the markets also thought this was a step to far as previous reports have caused Sterling to lose against the Euro significantly. The debate no doubt will continue with new evidence and hopefully facts being thrown into the mix at some point, however for now the speculation and uncertainty will cause further volatility for the market.

Tomorrow Mark Carney, Governor of the Bank of England will give a speech and I believe there is no doubt he will discuss the Brexit which will almost certainly cause Sterling to weaken. On Thursday there is an ECB rate decision which would be surprising if there was a change, however Mario Draghi, President of the ECB will speak afterwards. This speech in the past has been known to increase Euro strength as Draghi has built a reputation of trying to fix the economy and is seen as a positive force for the Euro.

I believe the GBP/EUR rate will fall over the coming week as there is little positive news coming for Sterling and it’s too easy to focus on the risk of the UK leaving the EU. If you would like to find out more information with regards to my forecast and how I could help you achieve savings when transferring money abroad, please email me at brf@currencies.co.uk

GBP/EUR rates to enjoy a final day of improvements? (Joshua Privett)

The rally for Euro buyers this week has been a welcome surprise for many in the financial service industry, after a sustained period of delivering dissapointing news to our customers.

The improvement came as a result of more positive than expected inflation figures in the UK economy last month, after over seven months of consecutively poor news. Whilst this can be attributed to an early Easter, this was still received overwhelmingly positively by the marketplace.

However, with the second half of the month always quiet compared to the first two weeks of economic data releases, the currency markets will now be governed by politics as it was in the latter half of March.

The looming Brexit has been concerning, and last month this period saw 4.8% losses on GBP/EUR between the middle of March and the first week of April.

With the campaigns now having officially begun last week, I would not be surprised to see similar movements next week on GBP/EUR buying rates.

I strongly recommend that anyone with a GBP/EUR buying requirement should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer.

I have never had an issue beating the rates of exchange offered elsewhere, and with the expectations of the next two weeks in mind, a popular option for many Euro buyers currently has been justifiably to fix rates of exchange ahead of any purchases over the next few months.

Sterling Euro breaks resistance level of 1.25 but for how long? (Tom Holian)

Sterling Euro exchange rates have once agains broken through the resistance levels of 1.25 or 0.80 when looking at the pair in its reciprocal level.

UK inflation data has helped to strengthen Sterling vs the Euro after experiencing a difficult last few weeks falling to 18 month lows to buy Euros with Pounds.

However, I think these levels could be extremely short lived whilst the uncertainty of a Brexit continues.

With the vote set to take place on 23rd June we are still a few weeks away and until we have a clear conclusion confidence in the Pound is likely to wane.

Indeed, the recent publication of tax returns by senior politicians in the UK has also dented investor confidence causing Sterling to struggle.

Many of my clients over the last few weeks have opted for a forward contract which allows you to fix an exchange rate for the future and if you need to buy Euros in the run up to the vote then at the moment this looks like a very good option.

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

 

 

Sterling rates SPIKING – 2 week high

Rates of exchange have been climbing this week, surprisingly so.  This is a real change in trend for the Pound and should really be seen as a short term opportunity rather than a long term trend.  It seems clear that the negative trend seen on GBPEUR will be continuing; the BREXIT concerns are building and really are expected to be reflected into the currency price.

Saying that however if you want to take advantage of this gain before it drops, a 2 cents climb from 7 days ago – contact me Steve Eakins on hse@currencies.co.uk

Moving forward over the next 7 days I do expect rates to stay a little flat, if anything a small ‘correction’ down is expected following the IMF meeting this weekend. It would not surprise anyone if the heavy hitters in the economy globally come out with some commentary on the impact to the market if the UK was to leave the EU. If we see this happening expect this to be reflected into the value of the Pound.  Wednesday/Thursday are the buy days next week with unemployment data due from the UK.

For a full break down and forecast please feel free to get in contact – I strongly recommend that anyone with a Euro buying requirement should contact me on hse@currencies.co.uk in order to receive a free, competitive quote on their transfer.