Monthly Archives: February 2016

Eurozone inflation set for another decline? (Dayle Littlejohn)

It was a week to forget for the Pound against the Euro. A €200,000 purchase is now £3,000 more expensive compared to this time last week.

Key names from the UK such as Justice Secretary Michael Gove and Mayor of London Boris Johnson have pledged their elegance to the out campaign. The ‘Brexit’ I expect will continue to remain in the spotlight this week and any negative commentary will lead to sterling weakness.

There is some hope for Euro buyers, the next round of Eurozone inflation numbers are released on Monday at 10am. Januarys figure showed a decline and February figure is set to show a drop als from 0.3% to 0.1%.

If this is the case the ECB could intervene later this month and increase the money supply (quantitative easing) entering the Eurozone each month.

This week I believe the Brexit will still outweigh the poor inflation numbers, therefore if you have euros to buy trading sooner rather than later may be wise.

Going forward I can give you economic information to help you time your transfer and can also offer you a better exchange rate than what you would receive with your bank and other brokerages. This can be anywhere between 1-5%. My direct email is drl@currencies.co.uk Dayle Littlejohn. Alternatively call me Monday morning on 0044 1494 787 478 and ask to be put through to Dayle Littlejohn.

If you are already using a brokerage I recommend emailing me with the exact figures and I will give you our live price so you can make a comparison. This will take you 2 minutes but could save you a considerable amount of money.

Government Spending Cuts could lead to further Sterling weakness against the Euro (Tom Holian)

Chancellor George Osborne announced yesterday that further spending cuts could take place in next month’s Budget due to be released on 16th March.

Global economic problems and fears of a slowdown have harmed his previous plans which are likely to be result in further spending cuts.

Therefore, with Sterling having fallen by as much as 12% this could actually in the longer term be quite a good thing for the UK as it means more domestic spending and demand from abroad owing to the weak Pound.

The fears of a Brexit are gathering momentum with Boris Johnson announcing that he will form part of the Leave campaign.

As London Mayor his political influence goes far and wide and his vote will likely have an impact on others during the course of the next four months.

Eurozone inflation is released on Monday morning and if lower than expected this could cause some problems for the single currency as it will directly influence what may happen at their next monetary policy meeting due to take place on March 10th.

There is an outside chance that the ECB could look at further QE and if so this could cause Euro weakness.

However, overall the biggest problem for Sterling will be the ongoing uncertainty of the Brexit which could cause big problems for the Pound during March.

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 allows you to budget. This is particularly useful if you’re buying a house abroad.

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 see slightly recovery after anxious week (Joshua Privett)

Rates to buy Euros have seen a slight recovery this morning following what has been a nail biting week for anyone interested in the single currency. However that correction was short-lived.

It seems like Sterling is still struggling to hold any value. What has been happening this morning is that any brief corrections from the recent falls has been seen as immediate opportunities for anyone looking to buy Euros. Those rightly concerned about the medium-term future for Sterling are seizing any beneficial movements. These sudden sell-off of the Pound causes its value to lower significantly.

Euro buyers are currently finding themselves in a catch-22. The Pound is unlikely to strengthen naturally until June as close polls and a real likelihood of the UK leaving the European Union are putting a large question mark of over the future financial direction of the UK economy. Investors are unwilling to get involved in the Pound until then, and without any financial flow into the Pound it’s value should still be seeing overall net losses.

Furthermore, any gains which do occur evaporate quickly, as opportunities are seized almost as quickly as they emerge.

I strongly recommend that anyone with Euros to buy should contact me on 01494 787 478 and ask the reception team here for Joshua. We can discuss a strategy and the options available to you to make sure you are the first to seize any favourable movements rather than the first to miss out.

I have never had an issue beating the rates of exchange offered elsewhere, and if you are worried how this current climate may affect your future Euro purchase, then these current levels of exchange can be fixed to avoid any adverse movements against your favour making your exchange more expensive.

Euro sellers can also get in contact to discuss how to navigate the coming weeks to ensure you sell at any peaks which emerge. The options available to you will depend on which country your Euros are held in. jjp@currencies.co.uk

Sterling exchange rates – HSBC report and week ahead

Sterling forecast

Sterling exchange rates have been falling this week and we expect the risk for further falls to continue.  It seems that as the ‘teams’ are being formed for the LEAVE campaign and the In campaign for the BREXIT debate. We have already seen some heavy hitters join the LEAVE campaign which has resulted in rates falling 4 cents this week; that being Boris Johnson and the Justice Minister. We still have many MP’s to pledge their allegiance and with each new member it changes the forecast and likelihood of whether the UK population will vote – in turn changing the value of the Pound.

Moving in to March I expect an uplift

Into march we start the next economic cycle of data releases for the UK economy. These I expect to actually show some improvements compared to February and therefore I would not be surprised to see rates climb once more, potentially over the 1.30 – a 4 cents improvement. If you want to register for LIVE updates please do so by emailing your situation and contact details to HSE@Currencies.co.uk.

Next movement forecast

Friday is a fairly quite day on currency markets, we have some data from the US this afternoon which could have an impact on EURO prices but most are waiting for the news over the weekend on Europe at the G7 meeting around the refuge crises. Next week we also have lots of key data including inflation, construction and interest rate decisions by some of the most influential central banks around the world.

Next weeks range

I expect to see GBPEUR levels over the next 7 days sit between 1.26-1.2850 – If you are looking for a price within that range please register your interest by emailing your details to hse@currencies.co.uk

 

 

GBP/EUR Falls Again Before Eurozone Inflation Release

The forming of the Brexit teams are fully underway with “In” and “Leave” campaign both setting out their stalls over the coming weeks. The referendum with Scotland saw the pound drop 8% against major currencies, considering the falls that have already taken place this week there could be as much as 10% losses for Sterling from the Brexit vote.

Whilst the current GBP/EUR rate does not seem appealing and it feels like you have lost out on good rates. If you are buying Euros and need to in the coming months doing so sooner rather than later is important. The rate is expected to drop further before the vote and if we do leave the EU the rate will not return to previous levels for a considerable time.

If you are selling Euros the rate is moving into the 1.26’s which is the lowest levels for over a year. Tomorrow the Eurozone has a Consumer Price Index date release, this is essentially the inflation rate, and this is expected to remain at 0.4%. Mario Draghi President of the European Central Bank however has been threatening to increase the Quantitative Easing program, essentially putting more money into the economy which will weaken the currency. The next time he speaks he may use the threat of QE to reduce the Euro strength especially as it is gaining ground fast on the Pound. If you are looking to sell Euro’s you have a great rate now and may gain further benefit by waiting, however Mario Draghi may look to stabilise the rate as goods from the continent become more expensive.

Please contact me if you would like to find out any further information regarding Swiss Franc and Pounds. 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.

GBP/EUR still under pressure as question mark lingers over UK future (Joshua Privett)

Even with poor news coming out concerning the German exports having fallen by 1.7% last month, Sterling is having a severely difficult time on the currency markets. GBP/EUR rates are down once more this morning, with rates flirting with the Southern side of 1.28.

Yesterday saw the greatest single fall for Sterling’s value on the currency markets since 2009. Expectations that a referendum will produce a close result following the near rebellion from the Tory ranks this weekend are the reasoning behind this drastic fall in Sterling’s value.

The reason why the news puts the Pound in disarray is that markets rarely react well to uncertainty and changes to the status quo. Sterling loses value as the lack of desire to invest in an economy where the a question mark lingers over its relationship with its largest trading partner reduces demand for the Pound on the currency markets.

Until June we will see it as increasingly difficult for the Pound to gain traction on the currency markets. As a result, a popular option currently available on the currency markets is to forward book currency for anyone who was planning to do so between now and June. This allows you to fix the rate of exchange as you currently see it to avoid any further harmful movements affecting your transfer.

I strongly recommend that anyone with Euros to buy should contact me on jjp@currencies.co.uk for a free quote on your transfer in order to maximise your Euro return. I have never had an issue beating the rates of exchange offered elsewhere, and I can personally reply with my opinion on your personal situation. 

 

GBPEUR rates falling – thank Boris

It seems that Cameron has fallen of his Boris bike this weekend following the announcement from Boris that he will be campaigning for the UK to leave the EU this summer.  This news really heats up the battle ground and we are seeing the Pound fall as a result.  Sterling levels fall through almost 3 cents this morning as the market priced in this new information and risks, buying the EURO is now nearly the most expensive we have seen for 14 months!

If you want to move quickly before we see further losses please feel free to contact myself directly – Steve Eakins – hse@currencies.co.uk

Moving forward there certainly seems more risk than opportunity in the market for anyone with EUROS to buy.  Rates are expected to fall further this week and we could see that these current levels will be the top of the range expected over the remainder of February.

UK GDP figures are released on Thursday this week and again expected to reflect the negative trend we have seen this year so far for the UK Pound. As a result another strong argument to suggest that if you have euros to buy in the near or medium term moving sooner rather than later may be wise.

Euro sellers however should be very happy, rates are great at the moment and there is an argument to suggest rates may improve further.  Don’t however expect the same rate of gains we have enjoyed over the last few weeks to be copied.  Small continual gains are expected for your position with negative movements seen as moments to avoid rather than new trends being set.

For a full break down of the forecast for the market this week please get in contact – Contact myself Steve Eakins via hse@currencies.co.uk for a personal approach to your situation.

 

GBPEUR set to decline for the next 3 months (Dayle Littlejohn)

On Friday David Cameron managed to negotiate a deal with EU leaders which has got the ball rolling for an ‘in out’ referendum which will be held on the 23rd June.

It has been reported if the UK left the European Union, sterling’s value could drop by 20%. In addition rates for buying Euros crashed 8% when we had the Scottish referendum in 2014.

For people that need to buy Euros before the 23rd June, today is the day you should start your preparation. The volatility surrounding the referendum will no doubt devalue sterling and therefore GBPEUR will plummet.

If you are buying a property abroad or needing to pay a company invoice and unfortunately you do not have all of the sterling available to you right now, we can still help. An option available to you is a forward contract. A forward contract allows you to lock into today’s trading levels and you can pay later. All we require is a small deposit. For more information email me directly drl@currencies.co.uk.

If you have an upcoming currency transfer to make this week, month or year I would recommend emailing me with your individual requirement (buying a property abroad, paying a company invoice), and timescales and I will personally respond to you with a strategy and the process of using our company. drl@currencies.co.uk.

EU Deal Reached which could cause Sterling Strength vs the Euro (Tom Holian)

My prediction for next week is for a big recovery for Sterling exchange rates and some better opportunities to buy Euros as a deal has been reached in Europe late last night.

The fears of a Brexit have caused big problems for Sterling Euro exchange rates over the last few weeks and with a deal now in place I expect to see Sterling recover some of its recent losses against the single currency.

My reasoning is that many global investors will have overlooked the Pound during the last couple of months owing to both the political and economic uncertainty surrounding the British economy and with a deal now in place I expect confidence in Sterling to now return.

Over the last two months Sterling has fallen against the Euro by as much as 10% and it’s not as if the Eurozone’s economy is in a much better place compared to early December so when you look at GBPEUR exchange rates the question is why have they moved so much during this time?

The Pound has suffered owing to a number of factors including falling inflation, a change in the Bank of England’s voting policy from 8-1 to 9-0 in favour of keeping interest rates on hold and the risk of a Brexit.

Therefore, a bit more certainty has returned and I expect this to be reflected in Sterling Euro rates during the early part of next week. Good news if you need to buy Euros.

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

 

 

Will David Cameron finalise a deal with EU leaders? (Dayle Littlejohn)

Presently David Cameron is in talks with Eurozone leaders to decide whether the UK will hold a referendum as early as June this year.

I expect talks will go long into the night and eventually Mr Cameron will either have to negotiate some of the reforms or he will be sent back to the UK with no deal.

Either way the volatility surrounding the referendum is having a detrimental impact on GBPEUR exchange rates and I believe this trend will continue.

There have been reports released that suggest sterling could lose 20% in value if the UK decided to leave the European Union.

If the pound continues to slide (as I expect), your transfer will become more expensive! If you do not have all of the sterling available we can still lock into today’s exchange rate by using a forward contract. Email me for further information. 

If you have an upcoming currency transfer to make this week, month or year I would recommend emailing me with your individual requirement (buying a property abroad, paying a company invoice) and the currency pair (GBPEUR/ GBPUSD etc) and I will personally respond to you with a strategy and the process of using our company.

Quite simply we can give you economic information to help you time your transfer and can also offer you a better exchange rate than what you would receive with your bank and other brokerages. This can be anywhere between 1-5%. My direct email is drl@currencies.co.uk Dayle Littlejohn. Alternatively call me on 0044 1494 787 478 and ask to be put through to Dayle Littlejohn.

GBP/EUR Awaits News from the Brussels Summit (Ben Fletcher)

Reports coming in from Brussels overnight suggest there is still a long way for David Cameron to go to achieve the deal he’s looking for. There is an expectation that something should come out of the summit today however, there may be a emergency summit in February and also March to thrash out a deal. The GBP/EUR rate has been sitting around the 1.28-29 region and may continue to do until new significant information becomes available.

There is a retail sales release for the UK at 9.30 this morning which is expected to show an increase in sales from January. This may see the rate strengthen in favour of Sterling potentially pushing GBP/EUR towards the 1.30 region.

If you are looking to sell Euros you are still able to achieve some of the best rates in the last 6 months, however holding out till next week may present an even better point to sell. However if you need to buy Euros in the coming weeks today may represent one of the final windows of opportunity before the rate decreases in the run-up to the Brexit campaign.

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 Ben Fletcher at brf@currencies.co.uk and hopefully I can be off assistance to you.

GBPEUR could be very volatile this week and next!

The EU summit is looming and is likely to lead to plenty of movement on exchange rates as investors  digest the latest news and plans for the pound and the Euro. Just lately there have been a number of expectations on the pound to weaken but owning to some comments by the ECB members responsible for voting on QE next month, the Euro has strengthened. We are now at a very important point which will determine the next few weeks on GBPEUR exchange rates. Has David Cameron managed to renegotiate a new deal with key players in the EU? My reckoning is yes he will but with concessions. I think the pound could lose up to 2 cents if this is the case. I would not be surprised to see this story drag on until March at the next EU Summit as is often the case in these meetings, things don’t get agreed first time around.

For more information on the pound and the Euro please speak to me Jonathan by emailing jmw@currencies.co.uk. I have many years experience in assisting private clients and business in their currency transactions. I am here to offer a specialist service for anyone who needs to consider any money transfers for the future, please do contact me to learn more.

GBP/EUR rate weakens in build up to ECB Meeting Minutes! (Jonathan Worrall)

Since the start of European trading hours today we have seen the GBP/EUR rate rise by one and a half cents from 1.28 to 1.295. With no data releases from the UK today, all eyes have been firmly fixed on the Eurozone and the European Central Bank (ECB) Monetary Policy Meeting Minutes that are due to be released.

There has been much speculation in recent weeks over whether the ECB’s Quantitative Easing programme will be extended or not, with some members hinting that an extension is needed to help the Eurozone carry on its recovery, and another member, Jens Weidmann, giving his opinion that the current level of stimulus is sufficient.

I believe that with the Euro having strengthened against the Pound earlier on in the week following those comments from Mr Weidman, investors are now more on the side of the QE programme being extended. If more financial stimulus is to be added into the Eurozone then this will be as a result of the ECB feeling that the economy needs more help. This has caused the GBP/EUR rate fall we have seen this morning.

This has given those with Euros to buy an excellent opportunity. If you have an urgent requirement to purchase Euros, please get in touch with me today at jsw@currencies.co.uk and I will be able to highlight to you just how useful it can be having a top broker on your side. Not only can we provide expert advice and opinions on the market, we will most likely be able to get you a much better rate of exchange than your bank or current broker. Jonathan Worrall

 

Could David Cameron continue to devalue the pound (Dayle Littlejohn)

Tomorrow and Friday UK Prime Minister David Cameron is set to meet Eurozone leaders to discuss the proposal in regards to remaining within the Eurozone.

I expect these talks not to go smoothly and therefore the Pound could lose further ground against the Euro.

If you have an upcoming currency transfer to make this week, month or year I would recommend emailing me with your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with a strategy and the process of using our company.

Quite simply we can give you economic information to help you time your transfer and can also offer you a better exchange rate than what you would receive with your bank and other brokerages. This can be anywhere between 1-5%. My direct email is drl@currencies.co.uk Dayle Littlejohn. Alternatively call me Monday morning on 0044 1494 787 478 and ask to be put through to Dayle Littlejohn.

 

GBP/EUR rates continue to tail off ahead of EU summit (Joshua Privett)

Despite some largely positive data for the UK economy last week, GBP/EUR rates have begun to tail off as the weakening factors upon Sterling are still the dominant force governing its value. Namely, the uncertainty surrounding a looming ‘Brexit’.

David Cameron is currently in Brussels negotiation on the UK’s behalf for a ‘better deal’ with our European counterparts in an attempt to sway the UK public in favour of remaining in the Eurozone.

He is speaking with European leaders before the summit on Thursday and Friday in an attempt to garner support for his proposals. However, markets are beginning to predict that he may have a tough time doing so, particularly with the likes of Francois Hollande, the French President, who will be entering a tough re-election cycle soon and can’t be seen to be pandering to the UK so easily.

Tensions about how the Summit will proceed are one of factors causing Sterling to weaken on the markets.

This is coinciding with some Euro strength from an announcement at the European Central Bank yesterday which has caused buying Euro rates to fall by a further 1.2% as morning trading opened.

It seems that expectations of further quantitative easing in the Eurozone for false. They have begun to benefit from their financial stimulus measures introduced in January 2015, with increased growth and employment figures being the key evidence deployed by the ECB spokesman.

With greater confidence in the Eurozone and the opposite in the UK’s economic future, this further collapse in GBP/EUR exchange rates is not surprising. 

I have been stating since January that those with a Euro buying requirement should be looking to move sooner rather than later. The current regional climate which is making the Euro more expensive is not a short-term phenomenon and will be around until the Brexit vote itself later this year.

I still remember a few years ago when I was offering people rates in the 1.10’s to be buying Euros. This not only shows how much buying power those with Sterling still hold, it shows hows much room there is still to fall.

I strongly recommend that anyone with a Euro requirement should contact me on 01494 787 478 and ask the reception team for Joshua in order to discuss a strategy in order to maximise your Euro return. 

I have never had an issue beating the rates of exchange offered elsewhere, and if your transfer is not scheduled for a few months from now and you are worried where the rates may fall to in that period, these rates can be fixed with a small deposit to avoid such pitfalls. jjp@currencies.co.uk

Those with Euros to sell can contact me as well, and I can explain the best strategy in order to ride any further movements in your favour to their peak.

Consumer Price Index Could Help Sterling Rally (Ben Fletcher)

The GBP/EURO rate had a very steady day yesterday with the rate not moving out of the 1.29’s all day. This was quite surprising considering there was a speech from Mario Draghi followed by a question and answer session from the EU Parliament. Furthermore the EU trade exports fell by 7.5% in the space of just one month which you would be forgiven for thinking might have allowed Sterling to gain back some lost ground.

There is a large amount of Price Index releases today, most significantly being the Consumer Price Index. There is expected to be a small increase from 0.2% to 0.3% from January, this coupled with the unemployment figures tomorrow which are also set to improve could see a good Euro buying window. It’s fairly likely that we will see the GBP/EUR rate rising back into the 1.30’s today and staying for a small time so if you have been holding of buying Euro’s now could be a great opportunity.

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 the size of 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 assistance to you.

Euro buying rates set to test new lows next week (Joshua Privett)

Massive movements on the exchange rates were seen on Friday afternoon, with rates rising and falling by a matter of whole cents.

Much of the recent falls in Sterling’s value on the markets has been rooted in events coming out of China. Its poor performance points to a slowdown in global growth, very poor news for a UK economy so dependant on growth to fuel its massive financial services sector.

Lowered confidence in medium to long term global growth has thus translated into Pound weakness.

The massive movements for GBP/EUR exchange rates on Friday are explained by markets trying to second-guess how further Chinese data coming out on Monday will paint the current global climate, and therefore how the Pound will fare over the coming weeks.

With swings of whole cents both positively and negatively throughout the entire day on Friday for Euro buying rates, there is a clear lack of consensus on the markets for how the news will play out on Monday.

However, there was a slight net loss for Sterling against the Euro, suggesting there was still a bit more caution in the markets than optimism.

I strongly recommend that anyone with Euros to buy over the coming weeks should contact me on jjp@currencies.co.uk to discuss a strategy in order to maximise your Euro return based on how the news comes in tomorrow.

A premium will be put on being able to act quickly. I shall be in the office at 6am monitoring the news and the market reaction, if you contact me ahead of time with your requirements, I can reach you later that morning with the up-to-date information you need in order to make a more informed decision for your transfer. I also have never had an issue beating the rates of exchange offered elsewhere.

Sterling Euro set for another difficult week ahead (Tom Holian)

The best exchange rates for buying Euros was 3 cents higher than the low during the course of a week highlighting how volatile GBPEUR rates have now become since December.

Global stock indices crashed during the course of the week and it wasn’t until Friday that we saw a bit of normality resume with oil prices rising by as much as 10%.

This helped Sterling to rise against the single currency during Friday’s trading providing a very short window of opportunity to buy Euros near the peak of the week.

However, next week I think we could see big risks to Sterling with the Consumer Price Index published on Tuesday morning.

The recent UK Quarterly Inflation Report suggested that the UK will not hit the 2% target until 2018 and with inflation currently at just 0.2% I don’t expect to see gains on Tuesday as oil prices have recently hit their lowest level in years.

I think this could cause Sterling to fall vs the Euro and it may be worth looking at buying Euros on a Forward Contract in order to protect yourself against any further falls for the currency pair

Thursday sees the release of the latest set of ECB minutes from the previous meeting and with ECB president Mario Draghi rather bullish in recent weeks I thin we could see the Euro have a strong finish to next week.

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 rising slightly as slide on stocks and oil finally halts (Joshua Privett)

GBP/EUR rates of exchange have been enjoying the lifting of some of the pressure on Sterling which was implanted into the markets last week.

Will Euro buyers finally be seeing a turnaround? It’s unlikely. Already markets are finding resisting when try to rise above the elusive central level at 1.29.

There is simply not enough momentum for positive sterling news to carry us through that level. Frankly the news isn’t really being classed as positive, simply less negative. The loss of value on the financial markets has already been made clear, the losses have simply ceased for the time-being.

The reason this has hurt Sterling so much is due to our reliance on the financial service sector for growth and national revenue.

Moving forward, the same background factors which have been causing Sterling to weaken on the markets since the middle of December are still pervasive. That being the slowing economy which George Osborne and Mark Carney (Governor of the Bank of England) have alluded to over the past few weeks.

This Cent improvement for Euro buyers is a similar gift that many seized a few weeks ago, before improvements gave way to a fall of a further five cents.

Seizing opportunities presented in whatever form in a down market tend to produce happier market participants in my experience, and personally if I had a Euro requirement, I would looking to move sooner rather than later, particularly with markets dropping as Friday afternoon continues.

Anyone with a Euro requirement can contact me jjp@currencies.co.uk in order to discuss a free quote on your transfer in order to maximise your currency return. 

If you cannot reach me before the weekend begins, currency markets barely move in that period, so feel free to reach out over the weekend and we can discuss how to approach any expected movements on Monday.

 

Major Volatility on the back of U.S Fed News

The Sterling Euro rate this morning has already moved a 1% in a few hours. The Eurogroup which is attended by the Head of the Bank and the Finance Minister of each member state will meet today and may give some indication to the future plans. Greece is one of the topics today as the debt there has not reduced and the method to re-cooperate their loans will be discussed.

Yesterday Janet Yellen who is head of the Federal Reserve in America suggested that despite volatile markets and external factors, U.S economic growth would allow the FED to increase interest rates in the coming months. This encourages investors that the U.S is a good place to put their money as they have a better opportunity to receive returns. This in turn reduces the money invested elsewhere causing other areas to weaken.

If you are looking to purchase Euro’s today you might want to consider that Sterling is potentially going to weaken so looking to trade soon could make you a significant saving. If you are holding Euro’s and looking to buy Sterling you have the best rate in over a year.

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 Ben Fletcher at brf@currencies.co.uk and hopefully I can be off assistance to you.