Monthly Archives: January 2016

Will Sterling continue to fall against the Euro and expectations for February (Tom Holian)

Sterling vs the Euro has endured a torrid time since the start of December dropping by 13 cents from the high to the low during the period.

In that same time UK economic data has generally speaking been very poor and fallen below expectation which has caused Pound exchange rates to fall vs the single currency.

Retail sales are at their lowest in 6 years and Manufacturing and Industrial production data fell to a 4 year low.

I think the economic problems have occurred owing to the Pound being so strong for much of last year which caused British exports to become less competitive.

Therefore, the Eurozone will have ramped up domestic demand and not traded with the UK as much because of the high exchange rate.

The Bank of England have stated recently that UK interest rates are unlikely to go up until 2017 and with the fears of the Brexit this is causing a huge loss of confidence for Sterling exchange rates.

Next week on Thursday the UK Quarterly Inflation Report is published and with inflation running so low I’m almost certain that this report will include some worrying data.

The Bank of England meet later that same day and I think this could send Sterling Euro rates to new 12 month lows and fall past their lowest point hit in January.

Good news for Euro sellers and not so for Euro buyers.

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

 

 

 

German Retail Sales weaken the Euro and Eurozone Inflation Data (Tom Holian)

German Retail Sales have come in this morning much lower than expected which has caused the Euro to weaken providing some short term opportunities to buy Euros at the highest point of the week.

However, already this morning Sterling Euro exchange rates have started to fall back already and I think the two factors which are keeping Sterling very weak at the moment are the fears of a Brexit and the Bank of England stating that UK interest rates are unlikely to go up.

Oil prices are now close to their lowest levels since 2003 which is causing problems for the Pound and with the North Sea oil industry needing approximately US$60 per barrel to make a profit.

This is worrying for the British economy and also Sterling as it is such a big revenue generator for the UK.

Eurozone inflation due out in an hour could cause big movements for Sterling Euro exchange rates as it will be used to see whether or not the recent addition of QE has had any influence.

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

Alternatively contact me directly on 01494-787478 and ask for Tom Holian when calling.

 

 

GBP/EUR Continues to Weaken with More Drops Expected

GBP/EUR is on the edge of a drop into the 1.20’s as we await the UK Gross Domestic Product (GDP) figures for Q4. These are expected to show a Year on Year drop but an increase from Quarter 3, if the figures are lower than predicted this could cause a drop in sterling strength. Furthermore tomorrow will see the EU reveal the Consumer Price Index for January which is expected to show an improvement from previous months. Essentially there is a strong chance of a low week end for the GBP/EUR rate.

It is worth considering that from the very start of next week there are figures from the UK that might create a generally negative outlook. On Thursday there will be a vote by the Bank of England that will almost definitely keep the same opinion on interest rates, further emphasising that the UK economy is not in a majorly strong position.

Whilst the GBP/EUR seems a low rate compared to the highs we saw only a few months ago in the summer of 2015, this might be in my opinion one of the last times we see consistent 1.30’s. On the flip side, buying Sterling with Euro’s is at one of the best times. If you are looking to complete a transaction in the short term, this week and next are arguably going to present the best opportunities we’ve seen in a while.

Please contact me if you would like to find out any further information regarding the GBP/EUR. I am happy to provide you with information that will allow you to make the most informed decision when changing currencies. No matter how small the transaction there is always money to be saved by making a well-timed and educated decision. If you would like to get in touch please contact me Ben Fletcher at brf@currencies.co.uk and hopefully I can be off assistance to you.

GBPEUR rates dropping – where is the growth coming? STEVE EAKINS

Why are GBPEUR levels dropping – without growth we see Sterling fall

Sterling exchange rates continue to be under pressure this week with levels continuing to fall.  Many of my clients are asking – why are rates dropping against the euro with Europe being in such a worse position than that of the UK? The simple reason is that the market prices live up to date health forecasts, so the current situation is already priced in.  The question investors are asking is – we have to ask where the growth is coming? As a result of the global slowdown and how open the UK economy is to this due to the high dependency on financial services, you can understand why rates have been dropping and are at risk to drop further.

This is why being up to date on market expectations and forecasts are key in trying to understand market prices and direction.

If you want more information on the current situation and forecast please feel free to contact myself STEVE EAKINS at hse@currencies.co.uk or on 01494 787 478 for a full break down and prices

GDP figures expected to move markets once more.

Tomorrow is the next key date for the GBPEUR exchange rates and one which could have a large impact on pricing, this being the UK GDP figures. These are the first forecasts for Q4 of 2015 and expected to show a slight climb. If confirmed we could see rates climb giving EURO buyers the best levels for the week.  Something to be very aware of however is that with the data for December looking so poor this forecast could be incorrect and we could see rates actually drop if a fall is seen.  Therefore if you are in the market for currency you need to make an educated decision on how to act based on your risk appetite or indeed look at exploiting the tools avalible to take advantage or any gains, these being limit orders, spike notification and stop-loss orders.  If you would like more information on this topic please feel free to get in contact.

I have been assisting people in the market for nearly a decade helping people move money to almost every corner of the globe. Talk to me STEVE EAKINS for a full breakdown, costing and forecasts.

Email me directly at hse@currencies.co.uk or alternatively ring me directly on 01494-787478 and ask for STEVE EAKINS when calling.

GBPEUR consolidates, what can we expect next?

GBPEUR has been trading in a much tighter range this week hovering around 1.30. Last week’s low levels of 1.2890 have not been retested but the highs of close to 1.33 indicate the rate is not sufficiently strong enough to hold its own on the back of other data releases we are confined to. Expectations are for the rates to respond more to political uncertainty in the UK this year rather than economic data. The big worry is the UK Brexit which at present we know very little about. The two key issues at this time would be the worry over the timing or date of the Referendum which could be as early as June or 2017, the other is the governments position. Much will hinge the extent to which the government has renegotiated the UK’s relationship with the EU. Until we get clarification of these issues sterling is likely to be underfunded and susceptible to further weakness.

Big economic news next week will be the Bank of England quarterly Inflation Report due next week, the economic news from the Eurozone could be greater however as markets eye the possibility of the ECB revising their QE program. If you have a transfer to consider please let me know by emailing jmw@currencies.co.uk or calling 01494 787 478. I am very sure I can offer you some helpful useful information to aid you in any decision making for your money transfers.

What to Watch out for when Trading this Week (Daniel Johnson)

Sterling has rallied today moving up into the 1.32s, although I do not see any reason for further significant gains. Keep a keen eye on Thursday’s UK GDP figures at 9.30am. I expect there could well be a contraction which could cause movement on GBP/EUR.

I think the most important data release of the week will be Eurozone Inflation figures (Consumer Price Index) on Friday at 10am. Mario Draghi the Head of the European Central Bank is basing any changes in Quantitative Easing (QE) on inflation. QE is essentially pumping money into an economy in order to stimulate growth, if there is an increase in the amount pumped in per month expect significant Euro weakness. The inflation figures could well cause volatility.

Timing a trade correctly is vital to maximising your return, with the help of a broker you can expect to be kept up to date with vital data releases and market movement. My clients have been extremely happy with the way their trades have worked out as of late and I would would take pleasure in assisting any new clients with their trade. I will also guarantee to beat any competitors exchange rate. If you have a currency requirement I would  recommend getting in touch by calling 01494 787 478 or e-mail me directly at dcj@currencies.co.uk . Thank you for reading my blog it is greatly appreciated I look forward to hearing from you.

Sterling Continues to Fall, Carney to Speak Later

This morning we see Sterling’s revival on Friday against the Euro completely wiped off as we start to head to the more predicted mid 1.20’s. Mario Draghi, the President of the European Central Bank, in announcing the potential to increase the Quantative Easing has not created the weakness expected. In fact the Euro has been able to strengthen further and I think will continue to do so as the recent glut for Sterling continues.

Today we will see a speech from Mark Carney, the Governor of the Bank of England, that is not an official event but as such an influential figure anything he says has effect. If Mr Carney further emphasises that the UK economy is not strong enough to have an interest rate hike in 2016, the GBP/EUR rate may well enter into the 1.20’s today. I personally can’t see what Mark Carney will say that won’t have a negative effect and with Q4 growth figures for the UK coming out at the end of this week buying Euro’s sooner rather than later might allow for substantial savings.

Please contact me if you would like to find out any further information regarding Pounds and Euros. I am happy to provide you with information that will allow you to make the most informed decision when changing currencies. No matter how small the transaction there is always money to be saved by making a well-timed and educated decision. If you would like to get in touch please contact me at brf@currencies.co.uk and hopefully I can be off assistance to you.

Sterling Euro Exchange Rates Continue to Fall (Tom Holian)

Sterling Euro exchange rates have once again continued to fall as the expectations are that we’re in for another difficult week ahead for the Pound.

Bank of England governor Mark Carney is due to speak publicly tomorrow morning and when he spoke last week this saw Sterling Euro exchange rates hit their lowest level in 12 months.

He suggested last week that UK interest rates are unlikely to go up until 2017 which has caused a big fall in confidence for Sterling.

When you look at the other data that has come out over the last few weeks it should come as little surprise to see Sterling trading so low vs the Euro.

The fears are mounting of a Brexit and currency does not react well to uncertainty.

Indeed, when looking at both the Scottish referendum and the General Election in the UK this caused GBPEUR rates to fall by as much as 5 cents in the run up to both events.

Industrial and manufacturing have come out at their lowest levels in 4 years and with Retail Sales last Friday showing their biggest fall in 6 years things are not looking good for the British economy at the moment.

On Thursday the UK releases Quarter 4 GDP figures and with GDP having been downgraded last month I expect more of the same which is likely to push GBPEUR rates lower.

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

Alternatively ring me directly on 01494-787478 and ask for Tom Holian when calling.

 

 

Is this Sterling Euro Rally short-lived? (Tom Holian)

Sterling Euro exchange rates took a big jump during Friday’s trading session following the release of better than expected Public Sector Net Borrowing figures.

This surprised the market which allowed Sterling Euro exchange rates to jump by over 1% during the day.

UK Retail Sales which came out at the same time showed a big fall month on month and although they were up on the year before they were still lower than expected.

Therefore, although the market reacted favourably for Sterling the Borrowing figures managed to cover up what is yet another sign of an ailing British economy.

UK GDP was downgraded last month and with oil prices hitting their lowest levels since 2003 this is having a negative effect on the North Sea oil industry which is a big revenue stream for the UK economy. Furthermore, the fears of a Brexit are also weighing heavily on Sterling exchange rates.

Bank of England governor Mark Carney said earlier in the week that UK interest rates are unlikely to change during 2016 which has caused confidence in Sterling exchange rates to drop and he will also speak publicly on Tuesday which could cause Sterling’s gains from yesterday to be quickly wiped out.

Towards the end of the week UK GDP data is released on Thursday for the fourth quarter and I think we could see Sterling Euro exchange rates fall again during the course of next week. If you need to buy Euros it may be worth buying a forward contract which allows you to fix an exchange rate for the future and will protect you from any potential negative movements.

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

Alternatively call me directly on 01494-787478 and ask to speak with Tom Holian.

 

 

 

GBP/EUR Where Next? UK GDP and Eurozone CPI to take Centre Stage (Daniel Johnson)

UK Retail Sales figures were released this morning and came in below expectations, usually this would cause a drop in Sterling value. Public Sector Net Borrowing was also released this morning and came in much lower than expected causing a spike in Sterling favour.

The question is will Sterling’s rally continue? Key data releases next week are UK GDP figures on Thursday at 9.30am on Thursday and CPI data for the Eurozone on Friday at 10am. Inflation data will be particularly interesting as it is what Mario Draghi the Head of the ECB will be basing any changes in the Quantitative Easing program on.

If you would like a more in depth discussion with regards to GBP/EUR I would be happy to have a chat. My predictions have been very accurate of late. I keep a very close eye on the markets in order to maximise my client’s trade and of late my predictions have proved reliable.I will be happy to assist with your currency requirements and will  guarantee to beat any competitors rate. There are consistent large trades going through next week which potentially I can tag new clients on to in order to gain a very competitive rate.  If you have a currency requirement I would  recommend getting in touch by calling 01494 787 478 and asking for Daniel Johnson or e-mail me directly at dcj@currencies.co.uk .Thank you for reading my blog it is greatly appreciated I look forward to hearing from you.

GBP/EUR rates recover yesterday following Draghi speech (Joshua Privett)

Buying levels for Euros have seen a welcome recovery since yesterday afternoon. 1.32 has actually been hit on the markets, showing a GBP/EUR recovery of 4 cents in a matter of 24 hours.

Euro buyers can lay their thanks solely at the feet of the President of the European Central Bank Mario Draghi.

His growth policy to keep the Eurozone well out of recession is based on a cheap Euro to make sure their exports remain exceedingly cheap to the international market.

This improvement has finally bought some respite for those with a Euro requirement since the prolonged, sustained and severe fall in buying rates since December.

The crystal ball questions for many is whether this is the start of a new trend?

The short answer is that its unlikely.

There is still currently more risk than opportunity in the market for Euro buyers so the consensus is that this is not the start of a new trend back up the 1.40’s but rather a short term opportunity which should be seen as a gift not to be sniffed at.

There are currently medium to long-term influences on Sterling which are still causing Sterling’s value to be put under pressure on the markets – which is obvious when you look at the fall for buying rates on other currencies apart from the Euro:

  • Mark Carney, the Governor of the Bank of England, has re-iterated recently that an interest rate hike had been delayed until at least 2017.
  • Severe and tragic flooding has caused hundreds of millions of infrastructure damaged to be passed onto the public purse, as well as slow economic output.
  • Fears of a looming Brexit are causing similar weakness for the Pound seen during the Scottish Referendum.

As such I strongly recommend that anyone with a Sterling buying requirement should contact me on 01494 787 478 and ask the reception team for Joshua 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 to avoid any harmful movements against your favour in the future. jjp@currencies.co.uk

Sterling exchange rates creep up today against the Euro following a poor start (Ben Fletcher)

What started as a fairly sombre week for Sterling looks to have been short lived after the pound in full bulldog spirit has briefly fought of predictions of further drops into the 1.20’s and has rallied slightly to be break into the 1.31’s.

This has not come as a surprise to me however because we see new data become available all the time. This afternoon the Consumer Confidence for the EU came out at -6.3 which on its own might not mean a lot, however it was expected to only be -5.7 and this creates negativity for the Euro. Furthermore the head of the ECB Mario Draghi suggested that doors are open for more Quantative Easing, which is the process of printing more money. Whilst it’s not huge amounts of money, a very strong economy doesn’t print more money which again means it’s a measure to improve an economy. These two factors today have weakened the Euro giving the Pound the chance to be stronger. I believe the Pound’s small revival will be short lived so if you’re in a position to complete a purchase of Euro’s tomorrow might be best rather than next week.

If you were looking to change £10,000 today trading at the Gbp/Eur highest point over the lowest point could have saved over £200. With this in mind it is important to be vigilant when exchanging currency in volatile markets and using a broker can often get you the best rate.

Please contact me if you would like to find out any further information regarding Pounds and Euros. I am happy to provide you with information that will allow you to make the most informed decision when changing currencies. No matter how small the transaction there is always money to be saved by making a well-timed and educated decision. If you would like to get in touch please contact me at brf@currencies.co.uk and hopefully I can be off assistance to you.

GBPEUR rates driving up 1.28-1.31 new range (Steve Eakins)

GBPEUR levels have been driving by a number of factors this year so far. the latest of which yesterday was actually good news for the Pound which resulted in one of the best day gains for the Pound seen this year. This was driven by unemployment figures which confirmed that the jobless market in the UK was improving, with the highest level of employment in the UK for over a decade.

There was some concerns however which was the wage growth which remains stubbornly low. this is gong to be a key piece of data as many expect this to be linked to the BOE’s view on when the general public can afford an interest rate hike on their mortgages. This resulted in Sterling climbing by over a cent.

To take advantage please contact STEVE EAKINS at hse@currencies.co.uk or on 01494 787 478

Moving forward all eyes are on this afternoon with the European Central Bank reporting. This is probabaly a concern for most euro buyers as we expect a positive tone form the bank making the euro more expensive to buy. An update on their QE probgram and the impacts on the economuy well being is widely expected. As a result if you need to buy EUROS this week i would still be moving sooner rather than later.

Tomorrow the headache for euro buyers will probably continue. We have the UK Retail figures for December which due to the mild winter and the flood in the north of the UK are expected to show a fall weakening the Pound.

It really seems that there is little hope for a recovery and in-fact a much stronger argument that rates will continue to fall i am afraid.

For a full breakdown and information on timing a transfer please feel free to get in contact. Ring 01494 787 478 and ask for STEVE EAKINS or email me directly on hse@currencies.co.uk for more information, live price and forecasts.

Look forward to hearing from you.

 

Sterling Euro exchange rates drop in morning trading – Where may GBP/EUR head next? (Ben Fletcher)

With a strong drop in the GBP/EUR price this morning in 1.28 we have seen a small but potentially short lived revival this afternoon steadying at just less than 1.30. There is a very good chance that this is only the calm before the storm as we could see a fall into the mid 1.20’s over the next few days.

Oil prices are on the way down and the stock market is responding to this with heavy losses, the pound is in a vulnerable position currently. If you need to change Pounds to Euros in the short term completing this sooner rather than later would be sensible.  On the flip side of this EUR/GBP is at a yearlong high and anyone looking to change Euros to Pounds has the perfect window of opportunity to do so.

Please contact me if you would like to find out any further information regarding Pounds and Euros. I am happy to provide you with information that will allow you to make the most informed decision when changing currencies. No matter how small the transaction there is always money to be saved by making a well-timed and educated decision. If you would like to get in touch please contact me at brf@currencies.co.uk and hopefully I can be of assistance to you.

Mark Carney devalues the pound (Dayle Littlejohn)

It was another bad day for the pound. Governor of the Bank of England Mark Carney predicted in December that the BoE wouldn’t raise interest rates until 2017 which shocked the markets and yesterday he firmly confirmed again the UK are not going to follow in the footsteps of the US by hiking unnecessarily. His reasoning for this is turmoil in the global economy coupled with weaker UK growth numbers.

GBPEUR at the start of the year was fluctuating in the 1.36s and at present the market has now dropped 6 and a half cents which makes a €200,000 purchase £7,500 more expensive. If you are holding out to buy euros thinking the rates will go back to the 1.40s, I suggest you think again. The further we go into the year, volatility will rise in regards to the UK leaving the eurozone and I believe sterling exchange rates will seriously suffer.

If you need to buy or sell Euros in the upcoming days, weeks or months feel free to email me with your individual requirement (buying a property/ paying a company invoice) and the currency pair (EUR/GBP, EUR/USD) I will personally respond with my forecast, strategy and the buying process. drl@currencies.co.uk Dayle Littlejohn. Alternatively feel free to give me a call on 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.

IF YOU WOULD SIMPLY LIKE A COMPARISON AGAINST YOUR CURRENT PROVIDER EMAIL ME WITH THE EXACT FIGURES AND I WILL GIVE YOU OUR LIVE BUYING PRICE AND TOGETHER WE CAN DO A COMPARISON!! THIS TAKES 30 SECONDS AND COULD SAVE YOU THOUSANDS!! 

 

Sterling Euro drops below 1.30 as predicted (Tom Holian)

Sterling has dropped vs the Euro below 1.30 during today’s trading session as predicted in many of my recent articles across the various websites that I write on.

Although UK inflation rose this morning and came out better than expected this saw a brief recovery for Sterling but as soon as Bank of England Mark Carney began to speak at lunchtime we saw Sterling plummet vs the Euro.

The main reason is that he has again said the UK is not ready to raise interest rates which has caused confidence to drop for Sterling exchange rates not only vs the Euro but also vs the US Dollar.

Volatility in China which published the worst GDP for 25 years this morning and with oil prices continuing to drop now is not the right time to look at raising interest rates.

This has created the best opportunity to sell Euros for over a year and the lowest level to buy US Dollars with Sterling for 6 years!

Carney went on to say that the UK faces risks ahead and that inflation is under more pressure here than in the US and that the British economy is more exposed to problems with global growth.

With Sterling Euro rates expected to keep falling during the week then if you need to buy Euros soon it may be worth looking at buying a forward contract which allows you to fix an exchange rates for the future for a small deposit.

To find out more or if you have a currency transfer to make and want to save money on exchange rates compared to using your now bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

Will we see Sterling Euro Rates Recover as UK and Eurozone Inflation is Released? (Tom Holian)

Sterling Euro exchange rates have been trading at close to 12 month lows over the last few days as confidence in the Pound has seemingly disappeared.

There are a number of factors involved including fears of a Brexit and Industrial and Manufacturing data falling to 4 year lows. Sterling is under pressure but also getting support at the 1.30 levels.

This morning both the UK and Eurozone release inflation figures and both are likely to cause volatility for exchange rates as the data affects a central bank’s decision in monetary policy.

The ECB extended QE back in December and we have subsequently seen a 12 cent drop for Sterling Euro exchange rates in an attempt to combat falling inflation.

Therefore, if we see inflation rising in the Eurozone then this could see further Euro strength as it will support the ECB’s decision to extend QE recently and justify the policy change.

Chinese growth this morning has come out at the lowest rate in 25 years as the world’s second largest economy shows big signs of slowing down.

This is also potentially bad news for the British economy as it means as oil prices have also fallen this is bad news for the North Sea oil industry which is a big revenue generator for the UK and therefore Sterling 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

 

 

Sterling Euro Rates due to fall further (Tom Holian)

Sterling Euro exchange rates have fallen by over 8% since the start of December or the difference of £8,000 on a currency transfer of £100,000.

There have been big problems for the British economy over the last 6 weeks as fear loom of a Brexit and the Bank of England having stated that interest rates are unlikely to rise until 2017.

During 2015 Sterling was trading very high for a long period of time against the Euro which has clearly caused problems for British exports and the data being published recently backs up this opinion.

Industrial and manufacturing data has shown the lowest levels for 4 years which has caused Sterling to fall.

GDP has been revised down and with Chancellor George Osborne warning of a difficult year ahead and the UK economy facing a cocktail of risks things are not looking good for the UK and Sterling.

Oil prices have hit record lows recently and this has caused problems for the North Sea oil industry which is a big revenue stream for the British economy.

All these events have weighed heavily on Sterling exchange rates and on Friday we saw Sterling Euro rates drop by almost 3 cents during the trading session.

On Tuesday the Eurozone releases its own set of inflation data and this could cause further Euro strength if we see signs of inflation rising in the Eurozone as it will lend support to the ECB’s decision to extend QE back in December.

My prediction for the week is for Sterling Euro rates to drop into the 1.20 levels.

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

 

 

 

GBP/EUR Rates Crash! (Matthew Vassallo)

GBP/EUR rates have crashed during Friday afternoon’s trading, with the Pound losing over two and a half cents from the high this morning.

A poor run of UK economic data releases have put pressure on the Pound and with bullish tones coming from the European Central Bank (ECB), it has allowed the EUR to gain some sustainable market support after months of false dawns. Today’s move is far more aggressive than was anticipated and with GBP/EUR creeping closer to 1.30, many clients will now be questioning whether this threshold will be broken.

Whilst I anticipated Sterling support around this level, we cannot hide from the developing trend and if I was holding GBP, I would be tempted to secure something before it fell below this level.

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 on mtv@currencies.co.uk

Pound Sterling Forecast to fall further vs the Euro hitting 1.30? (Tom Holian)

Sterling has continued to fall against the Euro this morning as confidence in the Pound keeps dropping.

The Bank of England confirmed again yesterday that it will keep interest rates on hold which they have done since 2009.

In my opinion as inflation has struggled in the UK and is likely to carry on owing to the huge fall in oil prices this will keep inflation low and therefore it will be difficult for the central bank to increase interest rates in the future.

Indeed, low prices are having negative effects on the North Sea oil industry which is a big revenue stream for the British economy.

There are increasing fears of a Brexit coming and if we look at two big political events in the UK over the last 2 years including both the Scottish Referendum and the UK general election Sterling fell by as much as 5 cents in the run up to both announcements.

Recent UK economic data including Industrial and Manufacturing data has come out at the lowest level in 4 years so things are not looking very positive for the UK at the moment.

Since the start of December Sterling Euro exchange rates have fallen by 12 cents and if economic data continues to get worse we could see rates fall even further.

In order to remove this risk when buying Euros you may wish to look at purchasing a Forward Contract which allows you to fix an exchange rate for a future date for a small deposit.

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