Monthly Archives: August 2012

Buying or Selling Euros? What will move GBPEUR today and next week?

September promises to be a very interesting month for the GBPEUR rate. Have you made provisions for exchange rate fluctuations? Doing a quick bit of forward planning now could potentially save you thousands of pounds!

Today – We have had a range of smaller scale economic releases this morning. German Retail Sales dropped, but UK house prices rose, not much movement on the rate as investors lay low ahead of bigger events on the horizon. The bigger news today could be from the US this afternoon when at the Jackson Hole Summit in Kansas, international leaders meet to discuss economics and international issues. Europe will certainly be on the cards, interestingly Mario Draghi, ECB President has pulled out of this. Ben Bernanke the Federal Reserve Chairman will speak possibly talking about more QE for the US which could move EURUSD. Inflows out of the USD and Euro could affect GBPEUR.

Next Week – A Very Important Week if you are interested in GBPEUR or EURGBP

As it is the start of a new month we have a wide range of economic data which is likley to affect the short term movement on GBPEUR. If you are buying or selling Euros, these releases could move the market that little bit which will allow you to trade at your preferred level. Exchange rates move every 2 seconds and for a wide range of reasons which is why it is very important to know what is happening.

Part of the service I provide is to watch the market for my clients so that they do not miss their rate and are aware if there is a sudden change of movement on the rate.

Nex week and next month we also have various Eurozone meetings and important dates for the Euro. The rate is being driven by the headlines and we are sure to see movements on up to 2 cents in either direction over the course of the month.

I am sure anyone buying Euros would be distraught to see the rate fall further for them. Those clients kicking themselves for not buying at 1.28 may soon be kicking themselves for not buying at 1.26. Whether buying or selling a property, buying or selling a car, settling an inheritance, shool fees, mortgage payments, whatever your need to send money overseas, I am positive I can save you money.

If you have any currency transactions to consider I can guide you through the process of transferring money internationally at a commercial exchange rate, much better than the banks.

Please do not hesitate to contact me Jonathan personally on 01494 787 478 or email jmw@currencies.co.uk for more information. There is no cost for this service.

I look forward to hearing from you and making sure you do not miss out on your dream rate.

GBPEUR exchange rate, will Spain need a bailout and how will it affect the currency market

Financial news has returned their focus back to Spain, Greece and the future of the euro.

Greece is re-negotiating their long term repayment and asking for an extension. Their argument is that without this in the current situation staying within the euro is not beneficial. The same negotiation strategy they have been using over the last 2 years, give us what we want otherwise we will leave which will send unknown shock waves through the single currency. My thoughts are that they will get an extension but probably after the elections in Germany. (The power houses there will not want to risk not being voted in for another term.)

This is one to watch as the threat of Greece leaving could become a much bigger story if they are not happy with what they are getting back from Europe.

Spain is the other concern. For the simple reason that their banking system is failing and confidence is at a very big low. Data showed earlier this week that their economy shrunk by 1.3% in the second quarter of 2012 and as concerns mount the banking system is further chocking as money flows out of Spanish banks. (Last month an estimated €72 billion was moved to “safe havens.”) Spain’s most economically important region, Catalona, said it needed a €5 billion rescue package from Madrid this week too.

So it is safe to say it is a huge worry at the moment for the markets and should be for anyone with a currency transfer to make. Even their deputy Financial Minister said that “the worst is yet to come.” As mentioned yesterday on the Pound Sterling Forecast blog however;

Please don’t just assume it will push GBPEUR up as we are unsure whether the UK will have to contribute to the bailout!

The Bank of Spain estimates it may have up to €180 billion in bad debt which may need to be found and it is a figure we are sure will be difficult to raise. As a result I would expect GBPEUR to have a range of 3 cents from current levels over the next few weeks in either direction.

So, if you are exchanging currency contact us today. Simply put if we could not help save you money we would not be in business so what have you got to lose? Contact us today via email at hse@currencies.co.uk or by phone on the normal number to see how much you could save……..

The main benefits of our service is that:

  • The exchange rate is normally 2%-4% better than the banks,
  • You get one point of contact throughout the transfer
  • The process is simple and pain free – simply apply on the website and you are ready to trade normally within a few minutes
  • Funds are sent out on a same day basis so funds are normally received at their destination within 24 hours of applying
  • A pro-active service trying to help you time you exchange at a high rather than a low – saving you money.
  • All regulated and registered with both HMRC and FSA, plus with over 12 years of experience you are in safe, experienced hands.

Look forward to hearing from you,

Thank you,

Steve Eakins

Currency markets

Morning readers,

In the days to come we will have a focus on the Euro and Spain as they again take center stage however please remember that here we can help you trade upto 30 different currencies.  These include the South African Ran ZAR, Australian Dollar AUD, NewZealand Dollar NZD, Israeli Shekel ILS, Swiss Franc CHF, and many more. So if you have a need for any of these currencies feel free to contact us and experence our award winning exchange rates and service.  (hse@currencies.co.uk)

Otherwise feel free to visit:

Australian Dollar Forecast

Yesterday data from Australia showed a drop in new home sales, which helped create a near 2 month high for AUD buyers, making a difference of over $5,125 for every £100,000 traded.

I personally however expect the trend to return to  continual AUD strength. The simple reason is that even though their growth forecast has been revised down to 2.7%, it still remains significant better than the near zero expected by the Bank of England for the pound.

Key data that will drive GBPAUD trades this week will be Friday morning when information on Australian Economy is released.  however this is due outside of Uk trading hours so if you are looking for the best AUD exchange rate please contact us before hand.

Thank you,

Steve Eakins

 

 

Italian Bond Auction Passes off successfully- GBPEUR Forecast

An Italian bond auction to sell the debt of Italy has passed off successfully this morning which has strengthened the Euro. This all goes further to show how the mood on the market has changed in the last few weeks as it looks less and less likely that Greece will leave the Euro, and confidence increases that further effort will be made to limit the borrowing costs of Spain and Italy.

Exchange rates move for a variety of reasons including sentiment and rumour. The mood currently is quite hopeful that the next few months will yield some positive news on how the debt crisis will be managed.

Looking closer at the actual data is much more worrying however. If you take out Germany the Eurozone is in recession, and with slowdowns occurring in the US, China and UK, it is difficult to see where the demand will come from for Eurozone products to generate growth in these economies.

The debt burdens are spiralling and significant challenges ahead remain. Even if Greece does get more time, even if Spainish and Italian borrowing costs are capped, will it be enough? I think that no is the answer to this question. Unfortunately for anyone buying the Euro, that does not mean the rate will simply shoot up back towards 1.30. Investors when looking to the Euro are aware of the terrible economic situation but the belief that something will be done is preventing a massive sell off.

The next few weeks have some important events notably the German Constitutional Court decision on whether the use of taxpayer funds for bailout purposes is legal. Whilst the actual facts of any decision are important, it is also important to beware of the importance of sentiment surrounding the rates.

In my role as a specialist currency broker I can make sure you are aware all of the important news and events surrounding the rate, as well as make sure you transfer any currency at a commercial rate when the time comes.

For more information please contact me Jonathan on 01494 787 478, or email jmw@currencies.co.uk

Euro Forecast – When will GBPEUR hit 1.30?

The continuing debt problems in the Eurozone have given rise to an excellent improvement in the GBPEUR rate to levels which anyone buying Euros in the last few years could only dream of.

The Euro has become less and less attractive as a currency but has regained favour in the last few weeks on hopes that some kind of solution will be offered to limit the borrowing costs of Italy and Spain, whilst Greece will be given more time to manage its own debt problems.

This confidence is best represented not only in the improvement of the Euro against most currency pairs, but also on USD rates. EURUSD is now over 1.25 (up from 1.21 last month), whilst GBPUSD has hit a three month high.

Many clients buying Euros are holding out for an exchange rate of 1.30 but it is important to recognise there has been a change in sentiment on the market. 1.30 is of course much better than 1.26, but whilst waiting for it to hit 1.30, you could miss out on what are still exceptionally good rates. Don’t forget the highest the rate achieved this year was 1.2880, and that was a month ago. If you are holding out for a return to this kind of level there are a number of things that need to happen, the market is very different to the one that allowed this rate to be achieved.

Greece looked likely to be leaving the Euro and Spanish and Italian borrowing costs were above 7%, the level seen as necessary for a bailout. Now there is speculation following ECB press conferences and media leaks that these bond spreads will be capped. There has been much more positive news and this has calmed the markets. And even if we do not see these measures being implemented the current sentiment is positive for the Euro.

Don’t forget the Eurozone is one of the largest economic areas in the world and is a key partner in the global economy. It acts a gateway for the West to East, and East to West as well as a route through to Africa. Culturally and politically important on the world stage, we ignore and underestimate the strength of not only the Euro, but Eurozone leaders at our folly.

No one can tell you exactly what will happen on exchange rates, but I can offer a specialist and highly personal service, all designed to make sure you get the very best rates and are aware of all the issues surrounding your trade. That way you can make an informed decision about when to trade.

On amounts of 1000 GBP to multi million pound transactions, buying and selling currency, I can help with the above. Making an enquiry with me is absolutely free and at no obligation. If you would like to learn more please get in touch personally on jmw@currencies.co.uk

GBPEUR rates – when to buy the euro this week

GBPEUR rates have climbed today in anticipation that the waking giant that is Europe wakes up with a bad head.  The first meetings taking place is between Greece with both France and Germany. The expectation is that they will be asking for an extension to their debt repayment. Calculations have been done and the market seems to think that they need somewhere close to 2 years to be able to curb down their recession before re-paying at current levels becomes sustainable.  Either way they have a large instalment to pay this week and that will be the topic of conversation.  Germany will probably say no way, France will probably sit on the fence for the time being.

There is a growing concern that France will start supporting their requests for a longer term payback. The reason being is that they also have a substantial level of debt that they are paying back.  The new government has promised change and an easier life for the French, and an easy way of doing that is re-structuring their own debt repayment over a longer term releasing short term capital.

That however is all a very different story for another blog. The story and concerns for this week is that these meeting will take place and the concerns will grow that Greece will struggle with the payments = concern that Greece could leave = weakens the euro = helping clients buying.

What I would highlight is that we have UK GDP figures released on Friday and this is expected to pain a weak picture for the pound. So any Euro buyers this week, I would suggest move before Friday.  Euros sellers, either asap or wait until this Friday.

For more information on events expected this week and what to expect feel free to contact me through hse@currencies.co.uk or on the normal number.

How to get the Best Exchange Rate for Currency Transfers? Read on to Learn how we can Save You Thousands of Pounds Today!

If you need to move more than £5,000 or an equivalent amount of Euros into a foreign bank account, what is the best way to go about it? The first port of call for most people in this position is their bank as it is fairly convenient and straightforward. You visit the bank in person or their internet / telephone service and you provide all of the details on where you need to transfer the money. Unfortunately bank exchanges rates are extremely unempetitive compared to the kind of rates that could be available via a specialist foreign exchange broker.

Far superior in terms of rates and service if you are moving larger sums of £5000 and more, it is key to speak to a specialist foreign exchange broker. Some of the better exchange rates this morning available with the specialist foreign exchange company I work for can have crept over 1.27. Looking at the best rate I could get through my bank I can see 1.22563!

If you were looking to buy 10,000 Euros this morning, comparing the options with no other associated costs (most banks charge up to 30 GBP for the payment), you would save £297.43 by using the sources the company I work for can provide over the bank. Not bad at all. Now just think of the savings you may see on larger volumes if you were buying or selling a car overseas. Or buying or selling a property. The savings can run into thousands of pounds. On a 500,000 Euro transfer for say a property purchase or business transfer, the savings would probably be 10 to 20 thousand pounds. That would be enough to buy a new car! Or a new kitchen or holiday!

So what do I have to get these rates? These rates are available to anyone, even if just for a one off transfer. All you need to do is follow these simple steps to start receiving much better exchange rates than you are currently. Even if you have experience of another broker, I am confident that I can personally save you money.

1 – Make an enquiry with me, Jonathan Watson directly on jmw@currencies.co.uk or call 01494 787 478.

2 – Register for a free, no obligation trading facility online.

3 – Book a rate over the phone. It is 100% your decision to trade. If you don’t like the price you do not have to use us. But I am sure you will! And once you have agreed to the price…

4 – We email a contract note with our account details. Once your funds clear, we make the payment to whatever account you need it to go to. Simple.

5 – Relax and wait for your money to arrive!

And further as a specialist currency broker, we can assist with the  actual timing of your exchange. Exchange rates move every 2 seconds 365 days a year. An understanding of what drives the markets and what to expect can make a huge difference to the rate you receive too.

My name is Jonathan Watson and I am Senior Currency Dealer at one of the UK’s leading foreign exchange specialists. I have a genuine and passionate interest in the currency markets and saving people money. Please feel free to make direct contact with me Jonathan Watson on jmw@currencies.co.uk or call 01494 787 478 and ask for me. If you are planning a trade please contact me for a forecast too.

I am happy to answer any queries or questions on the markets or our services.

Thank you,

Jonathan

 

 

 

EURO news, forecast of when to buy euros and when to sell euros

GBPEUR rates have climbed this week and we again have traded close to a 4 year high.  This opportunity happened yesterday (Thursday,) and clients that were ready to move saved themselves almost €900 per £100,000 exchanged compared to today.  It is another example that keeping an eye on the markets can really make a difference and is the service provided by most currency brokers.  I myself helped 8 clients yesterday buy close to the high saving them all a good lump of money.  If you are reading these blogs with an interest because you have an exchange to make feel free to contact us for the same service.

Next week there are a few data releases expected to create similar opportunities so if you missed out this week there is a good chance for you.

Data next week includes:

Monday

  • Euro – Construction output – This has been shrinking recently and another negative figure could help people buying the euro

Tuesday

  • EURO – Spainish bond auction – This gives us a better understanding of the confidence in Spain, if they have to offer bigger yeilds again euro could weaken
  • UK – Public sector net borrowing – this tells us how much money the government is borrowing to keep the economy afloat

Wednesday

  • EURO – Meeting between top finacial ministers – could give us a better indication around forecats for growth

Thursday

  • EURO – Germany GDP Figures – Germany, the biggest economy in the single state is seen as the bank of europe, so if this improves the euro will strenghten helping euro SELLERS
  • EURO – Consumer confidence – Key to the personal spending across Europe and one to watch.

If you are needing information about how to maximise your trade keep re-visiting our blog or contact us. We can happily help design a strategy for your situation with the aim of saving you money.

For more information or to make sure you are getting the best exchange rate either call us today on 01494 787 478 and ask for myself STEVE EAKINS, or contact me directly via my email – HSE@Currencies.co.uk

EUR Strength Despite Positive UK Retail Figures

The euro has gained strength during Friday morning’s trading depsite yesterdays positive UK retail figures. Sterling has dropped by over a cent against the single currency since the start of the week and the affects of last weeks Bank of England announcement and a string of poor economic data may be starting to take its toll on GBP rates. We are seeing the Pound fall off against most major currencies and to me the trade deficit figures that were releasaed earlier this week, were a clear indication that our economy was still struggling and could continue to do so in the foreseible future. The differnce between the money we are spending on imports, compared to the money we are making from exports is the widest since records began back in 1997. The slow down of the EU is one of the major factors behind this and it is another reason our governement will not want GBP rising to high against the EUR, as this will further alienate our largest trading partner.

UK unemployment figures were slighly better than expected and with retail sales up we may find Sterling fighting back this afternoon. However, I do feel the Pound may start coming under some pressure against the euro over the coming weeks. GBP/EUR levels are currently hovering around the 1.27 mark and a move towards 1.25 rather than a push up to 1.30 is looking ever more likely. Current rates are still near the three and four year highs we have been experiencing recently and to me still represent very good buying opportunities.

If you have any upcoming currency rerquirements

Pound Spikes After Positve Economic Data

The Pound has gained some support during Wednesday’s trading making a gain of almost 0.5% against the euro and putting some pressure back on 1.28. At time of writing GBP/EUR rates are sitting at 1.2777 and are still providing some of the best buying opportunities of the past four years.

This positive movement can be attributed to the release of today’s UK unemployment figures and also the Bank of England minutes. Unemployment fell by 0.1% (46,000) which was certainly a positive, whilst the BoE minutes showed that its members voted unanimously (9-0) against further Quantitative Easing at the present time.

This seems to have re-instilled some market confidence after what can only be described as a very bad week for the Pound. Short-term confidence in our economy is starting to waver, following the feel good factor that was so clearly evident during the Olympics. If you are still waiting for 1.30 on GBP/EUR I would heed some caution, as in my opinion if we were going to get to that level in the current climate, we would have already. That’s not to sayit will not become available but to me the factors were far more favourible a couple of months ago yet everytime the rate spiked, serious resistance was met at 1.29.

I do feel the UK economy is in a very fragile state and whilst the problems in Europe are evident for all to see our recent poor economic data, including the widest trade deficit in 15 years and ever dwindling growth forecasts, is leaving me with little confidence that our exchange rates won’t ultimately mirror the poor state of our economy. I still feel a move towrds 1.25 is more likely than a move up through 1.30 based on current economic conditions.

If you have an upcoming currency requirement or would like to be kept up to date with all the latest market movements then please feel free to contact me directly at mtv@currencies.co.uk or on 01494 787 478.

GBPEUR Forecast Week Ending 17-08-12

Exchange rates move every couple of seconds for a wide variety of reasons. Knowing what can move the rate and when allows you to make plans ahead of the event so that you can either secure a much better rate or move quickly should it start to turn against you.

Below is information on what to expect for the rest of week. If you are considering any currency transfers then please feel free to speak with us as we can help explain all of your options as well as provide a commercial rate of exchange, much better than the banks. Speak to us to find out how much you could save!

TODAY – The most important day for the pound with the Bank of England Minutes. Whilst no change in economic policy has been seen, Mervyn King made clear in his Quarterly Inflation Report things are probably going to get worse before they get better for the UK. With so much uncertainty a member voting the wrong way could really affect pound sterling rates. Today also sees UK Unemployment data which could easily alter the value of sterling.

Thursday – Retail Sales are released in the morning and will be the first sign of the Olympic effect. Has the Olympics benefitted the pound? Early indications suggest that no is the answer, however with all of the extra celebrating due to Team GB success there is bound to be some kind of boost to the economy. Historically Olympics do provide a boost to an economy and looking at the thousands of people in London clearly enjoying themselves and spending money, I am sure there will be some positive effects. We did however have a very wet couple of weeks at the start of July and this could have dampened what would otherwise have been a gold winning month for Retail Sales.

Friday – With no major economic data out for the pound, we will probably be debating the after effects of Wednesday and Thursday’s releases. We have Trade Balance and Current Account figures for the Eurozone which may well provide some further movement on Euro rates.

To speak with one of us you can fill in the contact form, or you can contact me, Jonathan directly on 01494 787 478 or email jmw@currencies.co.uk

 

 

Sterling week ahead

If you are planning on making any currency exchange this coming week then the below will probably be of interest. First off a little knowledge sharing for first time traders and a reminder for regular traders.

There are three different rates we all have access to:

  1. Inter-bank price/ mid-market price – This is the price that banks trade millions and billions at. You and I as mere mortals cannot achieve this price. It is very well published and you can find it all over the internet, in the papers and on the radio.
  2. Commercial rate of exchange – This is the trading price specialist currency brokers have access to. Companies with the best buying partners will get the best prices
  3. Tourist rate of exchange
    – This is what is available at the high street, through the banks and travel agents. This is normally 2%-4% WORSE than the commercial rate.

If you sit and watch exchange rates you will see that they change every few seconds, only by a fraction but over the course of a day this can make a huge difference. At the moment this movement can equate to about a 1% a day, not much on a small transfer but on house purchases, invoices, wage payments it really can hurt if you trade at the low rather than at the high. It is because of this movement that timing a transfer so you trade at a peak is so important.

Exchange rates are driven by 4 main factors; political events, acts of terror, acts of God and economic events.  It is the last of these that we can monitor and try to predict as we know when they are released and the predicted result. This puts us in a strong position, allowing us to put strategies together on when to potentially complete an exchange for clients.

This week there is plenty of economic news and data to move exchange rates including:

MONDAY/TUESDAY

GDP figures being released from a number of key countries across Europe – this will be summaried in the overall figure on Tuesday morning. It is expected to contract so could help euro buyers.

We also have UK Inflation figures due and this is expected to fall so weakening sterling. If you are a GBPEUR trader timing trades that day will be key.

WEDNESDAY

Bank of England Minutes are due in the morning, this will be very important and will be a large factor in future forecasts of sterling. As a result it changes market prices and will change exchange rates. PLUS we also have UK unemployment figures – this is expected to stay steady at 8.1% which is still close to a record high.

THURSDAY

RETAIL figures for the UK which account for 60% of our overall GDP – A positive figure is going to help sterling gain against a basket of currencies.

If you have any interest in currency and its future forecast feel free to contact us for a clearer idea –we can personalise this for both your situation
and appetite to risk.

Hopefully you find these blogs of use – For more information or to make sure you are getting the best exchange rate either call us today on 01494 787 478 and ask for myself STEVE EAKINS, or contact me directly via my email – HSE@Currencies.co.uk

 

Will the Euro weaken again?

EURO rates have strengthened recently making the euro more expensive to buy, what might surprise you is that a a majority of the movement has come from America.  In late trading on Friday the US showed a large increase in the amount of people finding work in the the world’s largest economy.  The US is seen as a barometer of global strength and as a result changes the markets thoughts on risk.  A majority of speculation on the market comes from risk, i.e. the likely hood of risky assets performing. So when the US improves it makes the global position stronger as we see the cost of risky currencies go up. 

Traditionally this is only subject to countries like South Africa and America but Europe is now firmly in the same bracket.  So as a result money flew out of the USD and into the Euro, it was this added demand that has made the euro more expensive to buy for us all.

So will the euro weaken?

I personally think it will, and this will probably be at the back end of the week.

Tomorrow we are expecting poor data from the UK so I think it will get worse before it gets better, relief will probably come on Wednesday morning with the Quarterly inflation figures from the Bank of England.

If you are buying the euro, I would hold off but limit risk. If I was a seller of euros I would not move tomorrow morning before hand on the expectation of change on Wednesday.

For an up to date forecast on your situation or to make sure you are getting the best exchange rates, feel confident in contacting an expert. You can contact myself through my email at hse@currencies.co.uk or by calling and asking for myself, Steve Eakins on 01494 787 478.

The tone on GBPEUR has changed. When is a good time to buy Euros?

The last few weeks has seen the rate be driven primarily by headlines surrounding Spain. But in the last couple of weeks the rate which had reached 1.2890 does now appear to have hit a peak and the tone has changed, as we here at www.gbpeuroforecast.co.uk predicted.

Previously GBPEUR seemed alsmot immune to any negative sterling data. When it was announced earlier in the year the UK had entered the dreaded double dip, we saw hardly any movement on GBPEUR. Indeed the ongoing prospect of more QE and a rate cut for the UK had done little to dent confidence for sterling. The tone has now changed and part of the reason sterling has dipped against the Euro is because of the UK now being in a much deeper recession than thought (with three consecutive quarters of negative growth) and Manufacturing PMI showing the biggest monthly drop in over three years!

‘Mario did disappoint. But he also made clear that the Euro is irreversible and affirmed the ECB’s commitment to the Euro. With A German constitutional court ruling still outstanding on the legality of ECB bond buying mechanisms, there were limitations to what we could have expected and moving forward we are bound to see more Euro positive annoucements.’

With the focus back on the dire economic conditions in the UK, sterling (which has bombed against all the majors) looks unlikely to be capitalising on the Euro anytime soon. And yesterday’s news that Mario and the ECB will be looking at more bond buying options in the future should limit major further Euro weakness. Mario did disappoint. But he also made clear that the Euro is irreversible and affirmed the ECB’s commitment to the Euro. With A German constitutional court ruling still outstanding on the legality of ECB bond buying mechanisms, there were limitations to what we could have expected and moving forward we are bound to see more Euro positive annoucements.

All in all I expect the Euro to become more expsnsive to buy in the coming weeks with sterling. If selling or buying Euros you can speak to me to find out all of your options and receive assistance with the actual timing of your exchange. Please contact me Jonathan on jmw@currencies.co.uk or call 01494 787 478.

European unemployment creates more unknowing and anticipation for tomorrow

Recently I saw that the European Unemployment figures were released and showed another worrying situation in Europe as more people become unemployed.  An additional 112,000 people lost their jobs in the run up to summer pushing the total up to 11.2% or over 12 million across the single currency block. The highest since data started to be collected in 1995. Spain still remains the worst at 24.9% shortly followed by Italy. Germany, the economies strongest nation also saw an increase to 6.8% another record high for them.

So what does this mean for the currency?

Well this all shows not just that Europe is hurting but their pains are getting worse, this as a result will put additional pressure on to the powers that be to create new jobs and invest rather than cut spending. In yesterdays blog I mentioned the building anticipation for change by the Europeans expected tomorrow and this date is only going to add to this belief.  Tomorrow we also have the UK and European interest rate decision so a busy day is expected with exchange rates moving as a result.

If you are buying the Euro I would be tempted to hold off and wait for rates to return to the 4 year highs seen last week. However if you are a seller of the euro I would very much take advantage of these recent gains, even if all funds are not available contact a specific currency broker for access to Forward Contracts. These allow you to lock in exchange rates without the full funds available.

Either way make sure you are working smart and timing your transfers. Contact us today on 01494 787 478 for more information to help with this plus access to award winning exchange rates that normally save clients between 2%-4% against the bank. Alternatively you can contact myself through my email at hse@currencies.co.uk or by calling and asking for myself, Steve Eakins on 01494 787 478.