Monthly Archives: August 2013

Sterling continues to rise against the Euro. (Ben Amrany)

Late trade update.

The pound has risen from a low of 1.1657 this morning to finish the days trading session up by 0.55% to 1.1737. With the FOMC releasing their minutes this evening we could see some volatility as we head towards morning.

Data wise GDP figures out for the UK on Friday will determine how the pound performs for the rest of the month. I feel if the data is positive then we could see sterling move towards the 1.18 level.

If you require buying the Euro and are holding out for better levels than what is currently available or you are not happy with the rate you are getting by your bank then feel free to get a comparison by contacting me at


GBP – EUR – Best Rates of Exchange

Sterling has lost some ground in this afternoons trading session, as Euro traders move their currency positions in anticipation of a potential movement tomorrow. As the saying goes, “When America sneezes, the world catches a cold.” We may see this tomorrow as the US releases it minutes for their recent Federal Open Market Comittee. Should the minutes of this meeting show a good economic outlook for the US, then as USD-EUR is the worlds most traded currency pair, the world will see volatility!

Looking futher on in the week, the GDP revision for the UK on Friday may add confidence to GBP, as we could see the positive figure reinforced. Although as mentioned we have seen a slide in to the 1.16s, I dont think it will be long until GBP-EUR is back pushing the 1.18 mark. 1.1850 has been the limit of the GBP trading range, and I think the GBP strength could see us test the maximum of the trading range.

Should you have an exchange requirement from anything from a property sale to international tuition fees – I can help!

We have won ‘Best Exchange Rate Provider’ on several occasions from both The Times and The Telegraph.

Have a good evening

Andrew Bromley

01494 787 478

Has GBPEUR reached a peak?

GBPEUR has climbed a massive 3 cents in the last couple of weeks which is a huge improvement and most unexpected. The current GBPEUR forecast is that this improvement will not climb much higher, why is this?

Top of the market?

The good news for the UK is now well and truly out in the marketplace. The chances of us seeing significant better UK data is very slim. Tomorrow’s Public Sector Net Borrowing data could easily prove the UK is still very much under the cosh financially and weaken GBP.

Good news in Eurozone

Just lately we have had lots of good news in the eurozone including them coming out of a recession. This has helped the Euro to strengthen and means any major sell off on the Euro is unlikely.

When should I buy or sell euros?

I think that if you are selling euros current rates are well worth taking advantage of. Conversely if you are buying it might be worth seeing if the pound spikes up a little more later this week with the UK GDP figures.

If you are weighing up a currency transaction in the coming days, weeks and months why not speak to me for some extra information. I work as a specialist currency broker and can help with information to make an informed decision on when to enter the currency markets , as well as an excellent rate of exchange.

Please feel free to speak to me Jonathan directly on or call 01494 787 478 and ask to speak to me Jonathan.

I look forward to hearing from you soon

Sterling buying price SPIKE – Buying euros – selling euros – buying pounds – selling pounds (Steve Eakins)

Sterling strength continues to gain this week as we see the Pound strengthen for the 6th day in a row. This is the longest period of daily gains seen for the pairing since April and really is igniting hope that the trend will continue.  What is worth noting however is that the gains are due to building speculation that interest Rates will have to increase sooner than previously seen.  In the most recent survey by Bloomberg half of the economists questioned now think a change could be seen in 2015 rather than 2016.  Nothing too scary for mortgage holders yet but this change will continue to impact rates of exchange.

GBPEUR rates now sit close to the highest we have seen for 8 weeks – providing buyers with a great opportunity.  Especially when compared to two weeks ago when we were trading nearly 4 cents lower.  This equates to a saving of over £6,000 on a €200,000 purchase. For information on our service, our live rates and views on timings of transfers on the Euro or any Major currency feel free to contact us on

Thank you,

Steve Eakins

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best rates for buying the Euro with pounds for two months. (Ben Amrany)

The pound has today risen to the best level against the Euro for 2 months. It is difficult to state how long this rally may go on for against the Euro but at present we have seen a spike to 1.1725 this afternoon.

The first main contributing factor seems to be that unemployment in the UK slightly fell. We have seen the Bank of England minutes also released and none were in favour of an interest rate hike or QE while only one member voted against
forward guidance. All of this combined has given the pound a timely boost against a host of major currencies.

Looking forward if you are selling the Euro I would start to look at your position sooner rather than later. You would have noticed over the last few days that your returns are dwindling away. The Eurozone posted positive growth figures today but the Euro still weekend. What will happen when bad economic data comes out of Europe?

If you are buying the Euro I would try and ride the wave as there could be another cent or so in it for you. With a new boost for UK confidence of late tomorrow’s retail figures may just help sterling rise further.

If you would like more information on the service we provide with how you can achieve a commercial rate of exchange which your bank will not offer please feel free to contact me with your requirement and contact details and I will speak with you to explain teh options that are available for repatriating funds overseas.

Ben Amrany

What will happen with Bank of England Minutes? (Tom Holian)

With the Bank of England Minutes due out in less than half an hour we could see some volatility in the lead up to the announcement. Last month’s vote showed a 9-0 vote against both a movement in interest rates and also a change to Quantitative Easing. I would be surprised if there’s any difference to last month so I expect to see a small bout of confidence for Sterling shortly after the announcement.

At 10am this morning the Eurozone publishes Quarter 2 GDP for both month on month and year on year. I expect this to take a slight fall so expect to see Sterling gain towards the higher end of 1.16 through late morning trade.

The UK has published a large amount of positive data as of late so I am surprised to see Sterling remain relatively low against the Euro and feel like it is only a matter of time before we see Sterling strengthen across the board particularly against the Euro.

If you’re thinking about making a currency transfer and want to save money compared to using your bank feel free to contact me directly Tom Holian

GBP Strengthens During Tuesdays Trading (Matthew Vassallo)

GBP/EUR levels improved once again during Tuesdays trading, despite any obvious catalyst for the positive spike. This mornings economic data release showed a small drop for UK inflation figures (2.8%) but you would not have anticipated a major move for Sterling off the back of this release. GBP/EUR rates did break 1.17 at the high but quickly rescinded back and at time of writing were sitting comfortably in the higher 1.16’s, an improvement of approximately half a cent from this mornings levels.

Many clients are wondering how far GBP levels will rise and in my opinion Sterling is still undervalued, particularly against the EUR. This does give further scope for improvement but with the Bank of England still concerned about our widening trade deficit, I believe any major spike up from the current position (1.1650) will be tempered due to a concern that a strengthening Pound will only alienate the Eurozone, our largest trade partner, even further.

If you do have an upcoming GBP/EUR currency transfer to make and would like a comparable rate of exchange, or require any market analysis around the transfer then please feel free to contact me directly at Alternatively you can call one of our experienced brokers today on 0044 1494 787 478.

Are you really getting the best GBP to Euro rates? Check your rates with me for free!

If you are looking to get the best rates for a GBPEUR transaction making some extra research before you commit to anything could literally save you thousands of pounds. There are any many different rates of exchange available and if you don’t speak to the right people regarding your particular exchange you will not get the best deal.

There are typically three types of rates available.

TOURIST – On my recent trip to Portugal, I could not believe a well known high street brand at Luton airport offering 1.03 on GBPEUR! This difference of near 10% on the commercial interbank rates may not cost much on say 200 or 300 pounds but is still ludicrous. Beware, never buy currency at the airport! Most high street tourist shops offer better value. I have personally used Thomas Cook on some occasions for amounts of say £500-£1000.

BANKS – Banks seem like the logical place to go for any bank to bank transactions but just like buying from airports, they should be avoided at all costs on larger currency purchases. They can help on any amount but even on sums above £million they will not get you the best rate.

BROKERS – Specialising in currency exchanges brokers offer a much better proposition. By buying currency at source they can offer much sharper rates than banks on sums of all volumes. They make money on the difference between their buy prices and the price they sell to you at. This ‘margin’ or their spread means with the right broker there is always scope for a better rate.

Choose the right broker! Now I must declare an interest in my ‘information’ piece here. I work for a broker in the UK. The most important things to look for when choosing a broker are:

– Safety / Security of Funds. Look for a firm that is registered or authorised with the FCA, Financial Conduct Authority. The key thing is to make sure that they operate ‘Segregated Client Accounts’. This means in the event of the firm experiencing financial difficulty your funds are held protected and separate from their business funds.

– Rates. Just because the firm beats your bank does not mean you are getting the best rate! Bank rates can vary by as much as 5% from the interbank rate. If you are making a transaction with a currency firm and wish to check if you are getting a good deal, please feel free to email me Jonathan on

– Service. The variety of service on offer may vary. I personally look to offer a personal service to keep clients up to date with the latest market movements and trends so that they don’t miss out and can make an informed decision.

If you are reading this post (and this far) you probably have an interest in saving money on a currency exchange. This site was set up for information purposes by currency brokers who are working in the market all day. If you have a particular currency exchange to consider we would like to speak to you to offer our services with a view to helping you get a better deal than your bank or broker.

For further information please contact me Jonathan on or call 01494 787 478 and ask to speak to me Jonathan.

Sterling turns around but will it last – buying euros – selling euros (Steve Eakins)

Wow, what a change to Pound markets this week. On Wednesday we saw it rally by nearly 2 cents within an hour.  This week we have seen increases in Services PMI, Industrial Productivity, House Prices and GDP figures. The Inflation report on Wednesday was the interesting day when the bank linked any change to Interest rates with Unemployment.  The key figure that needs to be seen now is 7% which is not expected to happen for another 3 years.  This movement over the last week could have saved £3,500 on a €150,000 purchase if timed correctly.

It again goes to show how important keeping an eye on the market can be.  If you don’t have to the time to make sure you have put in a rate alert or Spike Notification request – both can be set up via email to

Next week the key days are Tuesday and Wednesday and the general view is that the Pound will stay strong.  Next week I expect rates to stay range bond between 1.1550-1.1675 so again timing will be key to get the best price.  If you are interested in what we could offer, our prices or our views on your situation feel free to contact me directly on


Steve Eakins

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Best Rates of Exchange – Buying Euros – Selling Euros

Following yesterdays spike for GBP against EUR, the currency markets have opened slightly lower than yesterdays closig.

Mark Carneys conference yesterday introducing ‘Forward Guidance’ was initially taken poorly, as during the first 30 or so minutes we saw Sterling weakness. Carney has indicated that like the US economy, he will look to link the UK QE (Quantitative Easing) to the unemployment rate. This is seen as a risky strategey, however is has been seen as sucessful in the US. The main point to take from the conference is that we may not see an increase in Interest Rates until late 2016.

Carney will hope that the indication of extended low interest rates will encourage the banks to lend. If the banks lend then hopefully it will ease the purse strings for Brits, kick starting the economy.

Should you have a transaction planned, please feel free to drop me a line to discuss your requirements. The currency market is incredibly volatile at the moment and needs to be watched very carefully! As your eyes and ears on the markets, we will be able to help maximise your exchange.

I look forward to being of assistance to you.

Andrew Bromley

01494 787 478

sterling gains 1% against the Euro. (Ben Amrany)

Sterling has shot up today after an initial drop at the start of the Bank of England inflation report and press conference, which is great news for anyone looking to buy the Euro with the Pound in the near future.

Speculation was rife as to what would come from this morning and I think most thought we would be looking at seeing the Pound drop away and it did drop quite a bit at the start of the press conference.

As the conference went on the mood started to change and Sterling started flying, as the conference ended
we saw Sterling really shoot in the right direction and the Pound has now spiked against all major currencies today so far.

We have seen a rise of around 1% against the Euro & USD. Excellent gains against the CAD of around 1.4% and at one point the best levels in 3 years for buying AUD.

This is a great buying opportunity for anyone that has been sitting tight so if you do wish to carry out a currency transfer involving buying foreign currency with the Pound then feel free to get in touch with me straight away.

If you have a requirement in the future but you do not yet have the full availability of funds you can book out a forward
. This is where you can book a rate out for up to two years in advance with just a small deposit, removing the risk of the currency market making your purchase any more expensive in the future.

If you would like information on the service that we offer then please feel free to conatct me at

News to come out of the Eurozone has actually been very quiet of late. There is the ECB monthly report out on Thursday at 9 AM. If the ECB talk up the Euro like they have done on so many occasions the pound could fall back slightly. The Euro has been extremely strong of late and today’s movements have probably bought it back to more realistic trading rates.

It could be worth assessing your situation if you need to buy Euros over the next month or so with teh gains we have seen.

Thank you for reading.

Ben Amrany


GBPEUR rates continue to fall and the forecast is for a further drop – GBPEUR near 18 MONTH LOW (Steve Eakins)

GBPEUR rates continued their fall this week as we saw a continual run of 6 days of losses for the currency pair.  We also saw GBPEUR down for July which made the fourth month in a row.  As a result it is safe to say that the trend is against anyone buying a property or service in the single currency or anything for that matter with the Pound. Unfortunately there is very little to pin hopes on for any form of recovery in the next few weeks.  On Wednesday next week the Bank of England (BOE) is expected to release their “forward Guidance” on the banks policy of asset buying, commonly known as Quantitative Easing (QE).  The consensus is for more later this year so a further fall is expected for Sterling Exchange rates next week.

As a result anyone with Sterling to sell may wish to move sooner rather than later to limit their exposure to a further fall, this news could result in as much as a 2% fall in a day or £3,500 on a €200,000 purchase.

If you see any reason to hold off or data release expected to turn the fate of sterling I would love to hear from you – please contact me via email at

Why is the bank doing Forward Guidance?

The BOE’s target is to boost economic growth and keep inflation low.  One of the ways to do this is by doing QE as it boosts the amount of money in the system which increases the amount that is lent to businesses by banks, this in turn increase their turnover and creates more taxable revenue as well as growth.  When this happens and more money is added to the book the money in the system is worth less and this is reflected as we see the value of the Pound fall.  This also helps the BOE reach its goals by making the UK’s exports more competitive to foreigners as well as making investing in the UK cheaper. So really a weaker Pound helps the BOE reach its targets, it is good for the bank.

It seems highly likely that more QE will as a result come later this year, so if the BOE confirms this the market will fall and weaken the Pound several months early. As a result the BOE is maximising the gains they see as the Pound is weaker for longer.  That is why the BOE is now looking at doing Forward Guidance and why the consensus is for a further fall in the value of Sterling next week.

If you are looking at moving money internationally this will definitely make a difference to your exchange rate over the next few months.  To talk through how this could affect your situation feel free to contact me for more information and a quotation of live exchange rates –

Thank you,

Steve Eakins

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Best Rates of Exchange – Pound Euro

Sterling is under teriffic pressure currently as the world waits for the Bank of Englands interest rate decision.

This morning has seen gains for Sterling from 09:30, as the UK released strong ‘Purchasing Managers Index’. This has provided a slight gain for EURO buyers. I expect to see no change in the UK Interest Rate, but there is an expectation for volatility should Mark Carney, Govornor of the Bank of England release a statement.

I believe that there is a slim chance of an increase for GBP, potentially a move in to the 1.15s for the Interbank level.

Should you have a transaction planned, please feel free to drop me a line to discuss…

Andrew Bromley

01494 787 478