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GBPEUR rates have begun to fall as the UK general election is just now only days away on May 7th.

The current polls show no clear leader with no majority so the expectation is that we’ll see another hung parliament just like we did in 2010.

When this happened previously the uncertainty caused Sterling exchange rates to fall dramatically against the Euro so the chances are that we will se this happen again creating excellent opportunities for those looking to convert Euros into Sterling this week.

Friday saw one of the biggest daily falls for Sterling Euro exchange rates this week owing to the lowest manufacturing data out since February 2013.

With the Pound having been harding at 8 year highs earlier in March vs the single currency it comes as no surprise that British exports and the manufacturing sector have seen a slide.

Over the next few days as the election race beast up I expect to see a huge amount of volatility for Sterling Euro exchange rates.

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

 

 

 

In the last 3 days sterling has lost ground against the euro by a staggering 4 cents. Meaning any client looking to purchase €100,000, it will now cost an extra £2000.

With the UK General Election now only being 6 days away I expect sterling will continue to weaken against the Euro. The reason for this is recent polls suggest a hung Parliament is on the cards which is causing volatility within the marketplace.

If you are looking to purchase a property abroad in the upcoming months it might be wise to secure your currency as soon as possible. Fore further information on award winning exchange rates feel free to email me on drl@currencies.co.uk or alternatively click here to activate a free trading account.

GBPEUR rates expected to SPIKE one more time

Sterling value is secretly expected to SPIKE one more time this week before the Greek situation is expected to evaporate for the medium term as the UK Election pulls rates down. This is as soon as tomorrow! the reason for this expectation is profit taking in the market on the last day of the month which is when investors pull back profits to hit their respective targets. Due to the QE program in Europe stock markets have climbed again this month meaning most have made profits that they need to bring back to the Pound. This tempory change in demand for Sterling will impact its value probably pushing rates up like we saw last month.

Thereafter the Greek interest payment due on Friday, if met, will probably undo this movement and eyes will then be on the political uncertainty from the UK election which is only next week.

If you have Euros to buy and are willing to take the gamble get in contact for live prices and a pro-active SPIKE notification when the markets move up. Register your interest by calling and asking for Steve Eakins or emailing through hse@currencies.co.uk

GBPEUR rates have been trading close to 1.40 during Friday’s trading session as the news from the Eurogroup meeting showed that the Greeks have still yet to fully resolve their debt problems.

They are due to pay back EUR1bn during May and currently they appear to be raiding public sectors and services for funds to repay next month’s debt.

There are big problems for Greece and potentially even bigger problems for the Eurozone if we face a ‘Grexit’ as this contagion could spill over to other European countries.

However, personally I think although the uncertainty will continue I think there is little chance that Greece will leave the Eurozone.

With the election taking place in less than 2 weeks opinion polls have showed no majority as yet which could cause Sterling to fall very quickly against the single currency if a hung parliament happens again.

At the election in 2010 with no majority formed this led to both large and quick falls for the Pound vs Euro.

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

 

 

 

Yesterday some very soft data came out on the UK economy. This is not the first time this has happened in the past few weeks. Poor inflation data barely caused any movement in GBPEUR rates. The fact that poor retail sales figures released yesterday has caused a 2 cent drop in the currency markets is certainly telling. Retail sales are a measure of consumer confidence. Are the people of the UK more inclined to spend as they are confident in the direction the economy is going, or are they saving due to the worry of a sudden u-turn in economic policy?

With the election on the horizon it seems these poor retail figures indicate the latter. Historically, the last two weeks before an election are the most volatile, it seems all the signs are pointing to similar market behaviour in this case.

What is making the story interesting this year is the Greek situation in the background. Indeed, today was the deadline for Greece to meet certain conditions to unlock another 7.4 Billion Euros in further bailout funding. They have not. It seems the Greek government’s anti-austerity pledge will be tested. At the same time the face of our country on the world markets will be tested during our election.

What will influence the rates the most? The Greek situation is still priced into the markets from months before. There are many different outcomes available in the election but only a few with Greece. At least over the next 3 weeks until Greece’s first substantial repayment, the problems will persist for Sterling which will not be balanced out enough by poor news coming out of the Eurozone.

If you have Euros to buy I would recommend getting in contact to discuss your situation in more detail. A ‘wait and see’ attitude here could dig a very deep hole that the Greek population could certainly empathize with. Joshua Privett – 01494 787 478 – jjp@currencies.co.uk

Today GBP / EUR has dropped from 1.4049 down to 1.3920 in today’s trading, due to poor retail sales figures. Retail sales came in o.4% worse than last month and 1.2% compared to last year. It is crucial when trading currency to be informed of any upcoming economic data and this is where I can help.

If you are looking to buy or sell euros in the next week and want to achieve better rates than the bank feel free to give me a call on 01494 787 478 and quote Dayle Littlejohn or alternatively drop me an email on drl@currencies.co.uk for a full insight into the markets.

GBP/EUR rates dipped sharply during this morning’s trading, following poor UK Retail Sales figures. The expected figure of 5.4% was not hit, with the official reading of 5% causing Sterling to lose value against most of the major currencies, in particular the EUR. This drop came after Sterling breached the 1.40 barrier yesterday, once again providing EUR buyers with some of the best levels of the past 7 years. Sterling’s positive move over the past couple of weeks was not anticipated, as the uncertainty created by the UK general election was likely to handicap any GBP rises. However the on-going economic difficulties inside the Eurozone, particularly in Greece, have not allowed the EUR to gain any sustained market value and this is why we are seeing the Pound trade at such attractive levels.

Personally I feel there is huge scope for EUR improvement when you consider the recent history on the pair. Any UK media attention on Europe in the build-up to the election is likely to cause market uncertainty, which will not be positive for the Pound. Despite the Bank of England (BoE) becoming concerned  by Sterling’s rising value two of its members felt their decision to keep UK interest rates on hold was in the balance, news which also helped to solidify the Pounds position, as many will argue we could now see a UK interest rate hike before the end of the year.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

The Bank of England Monetary Policy Committee met earlier. The votes for an interest rate hike remained at 9-0 against, however two members of the committee said the decision was finely balanced.

There was also mention that Sterling strength could be lowering CPI (Consumer Price Index) faster than expected. This all contributed to GBP/EUR breaking 1.40. Proving very attractive to Euro buyers. If you procrastinate, hanging on for that extra buck it could cost you with the strong possibility of a hung parliament, Sterling could be dropping back soon.

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

 

We went into trading today know there was little economic data to be released. So the recent news coming out of Greece was still dominating the trends on where the rates are going. The momentum from the decision has forced more capital to come out of Europe and as such the rates have been as high as 1.395 since trading began this morning.

Greece are repaying their debts. They are simply seeking every opportunity to delay, resist and condemn the repayments while they do so. This is creating market uncertainty, as none of the massive investors who hold hundreds of millions of Euros want to be holding the single currency when the Greeks are finally serious. As a result, we are still close to the 7-year highs experienced recently, even with an election no longer a distant spot on the horizon.

However, history has taught us that most of the major shifts in currency value were within a two-week grace window before the election. As such these current rates are likely ‘peaking’ and those who require a Euro purchase in the next few months should seriously consider pegging the rates as they are now (something that only requires a small deposit), or buying their Euros ahead of time.

Call me on 01494 787 478 to discuss the options that would best suit you. These current rates will save you thousands by buying ahead of time. Alternative, email me on jjp@currencies.co.uk for a personal appraisal of your requirements.

There is growing concern with regards to Greece making their repayments. There borrowing costs have now been increased to 27%. There is now the distinct possibility of a Greek exit form the Eurozone.

The Greeks are due to pay back €1 billion in two separate payments to the International Monetary Fund next month and then a much larger payment to the European Central Bank in June. There is no guarantee they will be met.

It would be in both parties interest to come to a resolution, but Greece’s situation is looking increasingly worrying. Euro sellers should take heed.

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

GBPEUR exchange rates have been trading 1-37 to 1.39 during the course of the week as rumours continue of Greece running out of money and struggling to repay their debts.

Greece had its credit rating downgraded during the week which led to GBPEUR rates going in an upwards direction.

However, with all the political parties in the UK having now released their manifestos we are now just over 2 weeks away from finding out who will run the country.

With no party close to forming a majority according to opinion polls this is likely to result in another hung parliament which could be bad news for Sterling. At the last general election Sterling fell by 3% in a very short space of time which is the difference of £3,000 on a £100,000 currency transfer.

If you need to buy Euros over the next few weeks it may be worth considering a forward contract which allows you to fix exchange rates in the future and eliminate any potential falls in the value of the Pound vs Euro.

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

 

 

 

Pound Euro exchange rates have fluctuated a huge amount today, mainly due to on-going concerns over the Greek debt re-negotiation. The head of the IMF (International Monetary Fund) Christine Lagarde is at the G20 meeting in Washington, and indicated that she wont be a pushover when discussing the Greek repayments.

Also released today was Eurozone Inflation data, coming in as expected, hence no huge swings for the currency pair.

As indicated previously, I strongly believe that if you are buying Euros a move sooner rather than later would be wise, avoiding the General Election caused impending Sterling weakness. Therefore if you do have an exchange please feel free to either call me on 01494 787 478 or email AJB@currencies.co.uk

Have a great weekend!

Andrew Bromley

 

 

 

 

 

Sterling vs Euro exchange rates rates have ended the week with a fall as profit taking takes place.

The Pound has had a very good few days recently but has fallen this afternoon.

With the Greeks having had their credit rating downgraded this week and the ECB discussing low inflation this helped the Pound to strengthen against the single currency.

However, if you have been reading recent reports you’ll realise that we’re expecting to see Sterling fall against the Euro over the next few weeks as the UK election takes place.

At the moment no one party is close to forming a majority so the uncertainty is likely to weaken the Pound.

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

 

 

 

The current General Election is one of the closest in the last one-hundred years. There is a very strong possibility of a hung parliament  due to there being no clear leaders and the only outcome seems to be a coalition government gaining power.

Looking back at currency charts when a hung parliament occurred back in 2010 we saw a sharp drop in GBP/EUR. Moving from 1.17 down to 1.14. The political uncertainty caused a lack of faith in the UK economy and I think a similar scenario will happen should a hung parliament occur again.

There was a recovery in GBP/EUR when the coalition was formed in 2010, but that was due to the coalition of the Liberal Democrats and the Conservatives being seen as positive in terms of the British economy. If it is necessary to form a coalition, will the parties involved  be deemed as positive for the economy?

That is the million dollar question, and that is why if you have a Euro requirement it could be wise to take advantage of the very favorable rates at present.

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

Both side of the GBP-EUR currency pair have looming political problems, potentially providing the primary direction for the currency.

The Pound value will suffer in the wake of the UK General Election, as the final weeks of the build up will be incredibly volatile. Realistically the outcome will be a hung parliament, meaning the UK will be without government for a short while. To form a ruling majority Labour or Conservatives will need to team up with essentially one their competitors. Liberal Democrats are the third wheel at the moment to David Cameron’s ruling majority, however their U turn on tuition fees cost them seats and subsequently make keep them out of the main seats of Westminster. Parties that may come in to the limelight are UKIP and the Scottish Nationalist Party (SNP). Both have quite radical views on specific items; UKIP – Immigration, SNP – another Scottish Referendum, meaning their involvement even more concern beyond the May 10th decision day. I personally wouldn’t take the gamble if buying Euros with the Pound – this morning has tapped 1.39 so still incredible rates!

In the Eurozone, Greece is STILL the word! On-going speculation surrounds the Eurozone as to what will they do with the Greek debt. The current plan of the Greeks is to repay the IMF (International Monetary Fund) loans early, by not paying back the Eurozone loans. Once the expensive IMF loans have been repaid, renegotiation of the Eurozone loans would be done at a lower interest rate, making them cheaper! The Greek concern is the primary factor for the Euro weakness, so expect the Euro to strengthen once it’s all sorted (if ever)!

If you have a currency exchange requirement, please feel free to get in touch. Either call me on 01494 787 478 or email AJB@currencies.co.uk

 

Further news emerging from Greece about attempts to conduct another election to leave the Eurozone, though quiet news, is reminding speculators why they had a lack of confidence in the Euro in the first place.

Poor inflation data however, has brought the rates back from their brief stint at 1.39. Coming in below expected across the board, confidence in Sterling’s recovery, just before the election, is wavering.

This week is Manifesto Week. Major parties reveal their plans for their term in office and lay them out for the public to scrutinise. Normally, this is simply a formality. Most major positions are already on record, touted in TV interviews and 5-word newspaper headlines. But this is will be one of the closest elections in history. A hung parliament likely and coalition necessary. These manifestos will allow journalists and political commentators to predict how well potential parties ‘slot together’ in a potential post-election agreement to share power. The more polar the views expressed in the manifestos this week, the more likely Sterling will lose value on currency exchange markets. Essentially, if it seems like it will be difficult for parties to work together and ensure a smooth transition, confidence for Sterling will fall.

Parties are currently ruling out the most likely coalitions in an attempt to appear strong and ideologically pure. This will only be necessary until the final tallies come in and negotiations start. If you would like help navigating the next few weeks then email me on jjp@currencies.co.uk and ask how your situation will be affected. Joshua.

Sterling Euro exchange rates had a good end to the week breaking through 1.38 on the mid-market level.

Next week we see the release of UK inflation data on Tuesday morning followed by Eurozone industrial production data later the same day.

However, the big news on the week is likely to come on Wednesday when the ECB meets to discuss interest rates, QE and deliver their press conference.

With the Euro remaining weak recently I think this is in the best interests of the Eurozone as it means that Eurozone goods are services are more competitive which is likely to keep their exports strong resulting in growth in the longer term.

With the election campaign gaining speed I think we could see Sterling dropping against the Euro over the next few weeks.

Therefore, if you have a requirement to buy Euros it may be worth locking into a forward contract next week which allows you to fix exchange rates for the future.

For more information on making a currency transfer or a free quote then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

GBP/EUR rates have spiked again, following better than expected UK service data earlier this week. This acted as the catalyst to push Sterling back up towards a 7 year high against the single currency. Rates have levelled out today, with the latest Bank of England interest rate decision and monetary policy statement released this morning, causing very little fluctuations in the market. Interest rates have remained unchanged at 0.5% and personally I do fell the Pound will struggle to move back above 1.40 in the short-term.

The UK general election is likely to dominate headlines over the coming weeks and this is likely to create some uncertainty in the market. This could handicap GBP and we may find the EUR benefits from it. We also need to consider the BoE’s stance, which is still that the Pound remains overvalued against the EUR. With factory orders at a two year low, our export industry is suffering and unless this is countered it is likely to cause problems for our on-going economic recovery.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

GBPEUR levels for the week

Sterling value shoot up yesterday due to two reasons; both of which were not expected. Firstly the fact that the Greek PM got on a plane to Moscow in the morning. The thought being that they could be asking for financial aid outside of the current agreement with the ECB and others. The second was the large corporate trade agreed between a UK oil company and Shell. This was in the billions and will involve a multi-billion pound purchase by the Dutch company along with a rather large tax bill, both helping sterling value climb.

Great news for anyone with Euros to buy as levels have climbed by over 2 cents in the last 2 days. I personally expect levels to fall back slightly this morning as UK data is expected to show a fall but I would not be too worried. On Friday morning UK GDP figures are expected to show a improvement pushing levels up once more for EURO buyers.  As a result within the next 36 hours we will have a better price for buyers and for sellers highlighting how important speaking to a specialist is when moving money internationally.

Longer term many, myself included, expect rates to fall in the build up to the election. I expect this to start to have an impact from the end of next week as the economic data for the month concludes and traders look forward to the economic policies of the parties which could get in power along with the potential EU membership debate.

For a full break-down and to learn how to take full advantage please get in contact – email myself, Steve Eakins with your contact details for a personal response – hse@currencies.co.uk

Data for the UK service sector rose higher  in March than expected. the general consensus was that it would be around 57. We did however see a significant rise to 58.9.

Sterling saw a spike after the release and the rise has continued due to Eurozone retail figures for February falling 0.2%.  GBP/EUR currently sitting at a very attractive 1.3728.

Friday will see the UK GDP estimate and this could cause volatility. I feel it would be wise to take advantage of current rates if you are a Euro buyer as I think it is only a matter of time before we see a drop in Sterling value with the General Election drawing ever closer.

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