Monthly Archives: November 2016

GBP/EUR Rates Spike Again! (Matthew Vassallo)

Sterling received another welcome boost during yesterday’s trading, following the release of strong UK mortgage approvals for October from the Bank of England (BoE).

Mortgage approvals jumped to just over 67,500, which far exceeded the expected figure of 65,000. This helped boost Sterling value, with GBP/EUR hitting 1.1809 at yesterday’s high. This provided those clients holding the Pound with some of the best rates they’ve had over the past few months, with the Pound gaining over four cents at the high over the past few weeks.

Whilst Sterling has clearly found a foothold in the market, is investor confidence high enough to drive the Pound forward further or have we seen reach a peak in the short-term?

It is a difficult question to answer due to the high level of economic uncertainty surrounding both the UK and Eurozone economies.

The economic and social problems within the Eurozone are likely to manifest themselves over the coming months. Next month’s Italian referendum is likely to dominate headlines and if a No vote is reached by the public then the current Italian prime Minister Matteo Renzi is likely to step down. This could pave the way for the rise of the far right party in Italy, which will clearly change the political landscape and as such, cause further uncertainty in one of the Eurozone’s key economies.

We also need to consider the political unrest spreading across Europe and if this year’s Brexit decision and US election results are anything to go by then who knows which parties may be in power in Eurozone strongholds by the end of 2017.

There is also a distinct possibility that European Central Bank (ECB) President Mario Draghi will announce next month that they are extending their current monetary policy (QE) programme, beyond the current March 2017 cut-off date. If this is indeed the case, expect EUR weakness off the back of this decision.

On the flip side, you have to look at the on-going uncertainty surrounding the UK economy and with the Supreme Court ruling in December regarding how Article 50 can be triggered, only likely to cloud matters further, the Pound could well come under further pressure as we head towards the end of 2016.

This analysis leads me to believe that anyone with a short to medium-term GBP/EUR currency requirement should looking to take advantage of the current improvement if you are holding Sterling, or protect the huge gains made for EUR sellers over the past few months.

If you have an upcoming GBP or EUR currency exchange to make and you are concerned by the increased market volatility of late, it may be wise to look at protecting the gains you’ve made, or limiting your losses with one of our forward contracts, rather than gamble on what has become an increasingly volatile and unpredictable market.

If you would like to be kept up to date with all the latest market movements ahead of your currency exchange, or simply wish to compare our award-winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on mtv@currencies.co.uk

Buying Euro exchange rates see increase from fantastic mortgage approval figures (Joshua Privett)

 

Positive news emanating from the UK has allowed rates to bridge back up close to the two-month highs recorded earlier in the month.

Firstly, news of a legal challenge into Article 50’s reach in the upcoming Brexit negotiations, being that it does not encompass the attempt to leave the single market as a whole, is painting a more digestible picture for investors in regards to Sterling as this points to a greater likelihood of a softer exit from the Eurozone.

Apparently this actually resides with Article 127, or at least it can be argued this way, which is why the Pound is benefitting from this increased wiggle room.

Secondly, Sterling benefitted from a hefty rise in consumer activity last month. Consumer spending was higher, and it seems the uncertaintly of the Brexit has done little to impact property buyers in the UK. Mortgages are actually UP from last month with 68,000 of them approved last month alone.

Moving forward the next feature to be released tomorrow will be inflation figures in the Eurozone. Given that the European Central Bank are currently considering whether they should be continuing their emergency financial stimulus package, this could end up playing heavily on currency values. The positive or negative nature of these figures is unknown until the data is released.

As such we could see GBP/EUR see a brief glimpse of strength before the end of the month trading patterns eat into the Pound. As such I strongly recommend that anyone with a buying Euro requirement should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer in order to maximise your currency return.

I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on an upcoming transfer.

Will GBPEUR hit 1.20?

GBPEUR exchange rates are lifted as it looks less and less likely the UK will opt for a hard brexit and markets gain confidence of some form of either transitional deal or permanent access to the Single Market. Expectations are high and with uncertainty over the Italian Referendum priced in too, GBPEUR could be at a real risk of snapping back if events don’t turn out the way we now expect.

The higher points on GBPEUR could easily see the market touch over 1.20 in the coming weeks should markets not like the result of the Italian Referendum and if the ECB does more QE than expected. The European Central Bank is expected to look at further QE (Quantitative Easing) at their December meeting. Any of these issues could lead to the euro weakening but I do feel much of this uncertainty is already priced into current Euro rates.

I expect a range of 1.13-1.20 for the month of December so if you have a transfer to make involving the GBPEUR rates, this should be your benchmark. As I say I feel the risk is very much to the downside on GBPEUR with good news for the UK and bad news in the Eurozone priced in at current levels hence the recent movements from 1.09-1.11 in October to 1.16-1.18 for November.

If you are planning a GBPEUR transfer in December or 2017 the raters on offer for Euro buyers are extremely favourable at present. For more information at no cost or obligation please contact me Jonathan by emailing jmw@currencies.co.uk or calling 01494 787 478.

GBP EUR Slides away from 1.18 High (James Lovick)

The pound has fallen from its recent peak taking losses against nearly all of the major currencies today. Rates for GBP EUR remain attractive with levels sitting just over 1.17 but struggling to climb any higher with Brexit uncertainty still weighing on the pound.

European Central Bank President Mario Draghi was speaking today and signalled that Britain would be worse off after Brexit when compared to the EU. His comments may have just put the pressure back on the pound today considering his status and influence.

Tomorrow sees UK mortgage approvals which should give some more clues as to how well the British housing sector is performing. To date things are holding up pretty well with prices staying firm and a relative healthy number of mortgages being approved.

For the Euro the next big day is Wednesday with the release of official inflation numbers and this has the potential to be a market mover. Inflation has been a real problem for the EU and the European Central Bank having remained well below target for three years now. Weak economic growth has also done the Euro no favours and a weak number on Wednesday could force European Central Bank President Mario Draghi to extend its Quantitative Easing program which would be Euro negative.

Clients with sterling are seeing some much better times for buying Euros. Rates are still attractive and are trading just below the peak of 1.18 seen at the end of last week.

If you have an upcoming currency requirement either buying or selling Euros 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 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

Buying rates for Euro buyers take slight dip but still manage to consolidate the week’s gains (Joshua Privett)

Like clockwork speculative trading on Friday has attacked some of the Pound’s heavy gains against the Euro in particular over the past 3 weeks.

GBP/EUR is up by almost 7%. The same amount of movement took 3 months previously in what has been a relatively static currency market apart from a few isolated events.

After breaching fresh 10 week highs just on Thursday, Sterling suffered for two reasons on Friday afternoon and began to fall away.

Intially it was forceful rhetoric from the Prime Minister of Malta concerning the expectations from the upcoming negotiations which caused the initial knee jerk tug back on Sterling’s value

Sterling recouped some of those losses when it was quite clear it was an overreaction to those comments. Though the overreaction was justified, with the flash crash on the Pound in October, which this website covered extensively, was due to two European leaders making similar comments. So you can understand investors and speculators getting nervous.

Profit taking and protective trading will likely see the Pound undercut quite heavily as markets relieve themselves of riskier currencies ahead of the Christmas period when trading winds down.

The expected mass sell off of Sterling is why companies and individuals are already planning to protect themselves during this period.

A more muted version of this actually happens every Friday. So much so that this was what I covered for a similar website www.poundsterlingforecast.com earlier in the week with confidence that this would manifest. The fact that this continues to happen is why anyone with a buying Euro,requirement should be wary of the Christmas period.

If you are planning a currency purchase involving the Pound, it is certainly worth your time contacting me on jjp@currencies.co.uk to order to explore the options open to you to seize any peaks which emerge on GBP/EUR, and to safeguard your transfer from any unexpected turns in global politics and the financial world.

I offer my customers a proactive service to make sure you remain a well informed purchaser and avoid being ‘last to the party’ when attractive levels for buying or selling suddenly emerge. I also work for one of the UK’s leading currency exchange brokerages who provide highly competitive currency exchange rates.

To avoid the inherant risk of the Christmas period, I would remind our regular readers that you can also ‘pre-book’ your currency at today’s rates for a later period to avoid navigating particularly volatile periods when you have a planned currency exchange in 2017.

Will the Pound make further gains vs the Euro? (Tom Holian)

The Pound has seen big gains since the start of the month and we are now at the best level to buy Euros since late September. Good news if you’re in the process of buying a property in Europe.

The Euro vs the USD is close to its lowest level in over 10 years and the huge amount of Dollar strength has caused an enormous amount of Euro weakness which has helped GBPEUR exchange rates go in an upwards direction.

The problems appear to be mounting on the continent with the Italians due to hold their own referendum in the next fortnight. The Italians have had 65 different governments in the last 80 years and I think we could see further political uncertainty as the Italians go to the polls in December.

Looking to France controversial candidate Marine le Pen is gaining in popularity and with 2016 so far being the year of political change and an anti-establishment feel about it I would not be surprised to see a change in the leadership in France next year.

Clearly there are huge problems for the UK going forward owing to the uncertainty of what is happening with the issue of Article 50 and until we get some further resolution we could encounter some problems but at the moment I think we will continue to see support for the Pound owing to the problems in Europe.

For the first time in a long time I am more positive for Sterling than Euro and I think we could see GBPEUR rates challenge 1.20 before the end of the year but the sticking point could be the Supreme Court challenge to Article 50 which takes place in December.

If you’re concerned about the volatility with exchange rates in the weeks and months ahead then it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

As Dealing Director for one of the UK’s leading currency brokers then feel free to contact me for further information or for a free quote when buying or selling Euros then email me and I look forward t0 hearing from you.

Tom Holian teh@currencies.co.uk

 

 

GBP/EUR hits 1.18 (Daniel Johnson)

Following Philip Hammond’s Autumn statement we saw Sterling rally against the Euro.  He immediately made it clear that Osbourne’s plan to balance to the country’s books by 2020 is no longer feasible following the vote to leave the EU. The Office for Budget Responsibility  (OBR) dropped the UK growth estimate by 2.4% and have also indicated that borrowing could exceed £122bln. It is important to realise that the OBR who are responsible for these estimates are a bit like Scooby and Shaggy before an ad break, clueless. No one has any idea how trade negotiations post-brexit vote will pan out.

Hammond did state his intention to make the UK resilient to the uncertainty in the markets, pointing out our growth forecasts are on par with Germany and better than that of France.

There were some key factors to the speech that boosted investor confidence.

  • Banning up front fees from lettings agents
  • National Wage increase to £7.50
  • £60m a year for Grammar School expansion
  • Further Spending for Housing projects – now up to £3.7bn

Mr Hammond’s non-flamboyant to the point delivery combined with a realistic outlook brought some much needed calmness to the markets and GBP/EUR has touched 1.18. Considering we have the Supreme Courts Judgement on whether the government will be able to vote on whether to trigger article 50 it may be wise to take advantage of current levels if you are a Sterling seller.

If you have a currency requirement I will be happy to assist. I am prepared to provide a individual strategy to suit your needs and also perform a comparison against any competition. I work for one of the best brokerages in the Country, Foreign Currency Direct PLC which enables me to acheive the most competitive rates of exchange. We are registered with the FCA and have been trading for more than 16yrs. If you would like my no obligation help, feel free to e-mail me at dcj@currencies.co.uk.

Daniel Johnson – Executive Dealer

GBPEUR reaches a 5 week high! (Dayle Littlejohn)

Yesterday UK Chancellor Phillip Hammond confirmed that growth forecasts have been cut by the office for Budget Responsibility however the International Monetary Fund still believe the UK will perform as well as Germany and better than its neighboring countries such as Italy and France.

GBPEUR has increased close to 1% off the back of the next and now is sitting at a 5 week high! For euro buyers, if you compare rates now to 5 weeks ago you will save a €200,000 purchase is now £12,300 cheaper!

Looking ahead exchange rates should remain buoyant for the remainder of the month however the Supreme Court ruling in December could start to pressure sterling exchange rates once more.

If you are buying or selling euros this year, today is the day to get in touch. Many people still believe the only way to transfer large amounts of money is through the bank and this is not the case. The company I work for enables me to give better exchange rates than high street banks which consequently means the individual saves money.

I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

 

Buying Euro rates coming under pressure for the new Autumn Statement (Joshua Privett)

GBP/EUR exchange rates have waned about 0.6 cents since the beginning of the trading day, with high anxiety in the run-up to the Autumn Statement governing current market sentiment and movements in the short-term.

This is the first Autumn Statement and essentially the first public declaration of a new Government as to spending intent and hints given as to what they expect economic forecasts to be in the near future.

Tax receipt expectations, where how and how much money will be spent, and the degree they will be deviating from previous promises to fulfill their promise to get rid of the deficit by 2020.

Given that this is Hammond’s first statement there are few indications given to markets ahead of time of what to expect. Will he have a similar hawkish temperament to Osborne when it comes to spending or will he be much more liberal with his spending? The answers will come tomorrow from 12:30 with the commencement of the Autumn statement.

In the meantime the currency markets are jostling for position ahead of time, with some investors buying and some selling Sterling in anticipation of a large shift one way or the other. Given the net loss for the Pound today on the currency markets, the consensus seems to be that markets are more anxious than positive about the upcoming result.

If you wish to avoid all risk entirely and secure the circa 6% gains on the currency markets following the introduction of Trump as President you can contact me overnight on jjp@currencies.co.uk to discuss a strategy for your transfer aimed at maximizing your currency return.

I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for anyone planning a foreign currency purchase later in the year and wish to avoid any greater expense or risk towards your transfer.

 

 

How long until GBPEUR hits 1.20?

There s now growing speculation GBPEUR could hit 1.20 in the coming weeks as investors brace themselves for the Italian Referendum next month. That is likely to be a period of uncertainty for the Euro with also fresh economic worries as the European Central Bank (ECB) debates whether or not to look at further QE (Quantitative Easing). If you are looking to get the latest news on the rates and make sure you are up to date then this blog is perfect for an outline of the latest news that could affect your exchange rate.

Sentiments are now leaning towards Euro weakness as investors fears over the single currency come back into the firing line. Clients looking to buy or sell Euros for pounds should be watching this market very closely as the next stages of the trend will undoubtedly establish themselves very soon. This will present some better opportunities to buy Euros at a higher rate and personally I would not be surprised to see 1.20 by Christmas if not before.

If you are buying or selling Euros for pounds then understanding the market and all of your options is key to getting the best deal. For clients who are not quite ready to buy but require a higher or better level we can offer a range of contract options including the Limit or Stop Loss orders to help trade at a better price. There is also the forward contract option which allows you to fix an exchange rate for up to 18 months in advance.

For more information at no cost or obligation please contact me Jonathan directly by emailing jmw@currencies.co.uk or please call 01494 787 478.

Sterling Euro rate hits 8 week high to buy Euros (Tom Holian)

Sterling Euro exchange rates have this morning broken through 1.17 as the positive run continues for the Pound against the Euro.

UK consumer spending has now jumped to a 14 year high and owing to the change in temperatures recently UK Retail Sales have shown an increase. The economic data was much better than expected and this saw the Pound make gains against the Euro.

Since Brexit there have been a lot of negative reports and suggestions that the British economy will really struggle but since the vote to leave the European Union back in June generally speaking UK economic data has been relatively positive.

The Pound has also been making gains owing to the uncertainty in global markets since the US election. The Euro vs the USD rate is close to its lowest level in over 10 years and this is causing the Euro to weaken against Sterling which is good news if you’re looking to send funds to Europe.

It appears as though since the start of October Sterling is making slow but steady gains against the Euro but there is still the uncertainty of what is happening politically in the UK concerning the issue of Article 50.

Theresa May is currently in Germany to meet with Angela Merkel and the German Premier has recently softened her tone towards the UK and the single market issue which is why Sterling has made gains vs the single currency.

ECB president Mario Draghi is currently discussing monetary policy and has stated that the current recovery depends on continuous monetary support therefore implying that the ECB may look to continue to intervene going into next year.

Having worked in the currency markets since 2003 I am confident not only of being able to offer you bank beating exchange rates when buying or selling Euros but also help you with the timing of your trade.

If you have a currency transfer and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

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GBP/EUR Spikes to the high 1.16s (Daniel Johnson)

We have seen GBP/EUR hit the high 1.16s this afternoon following positive retail sales data. This is the best opportunity to buy Euros for a considerable time. Considering the uncertainty surrounding the majority of trade negotiations post-Brexit it may be wise to take advantage of current levels. The catalyst for the Spike occurred after Trump’s election, Theresa May played the smart move by not lambasting Trump during his campaign. Trump’s stance on trade negotiations differs to that of Obama as he is one of the few persons of power willing to be accommodating to the UK. This caused Sterling to spike, coupled with positive retail sales we have seen GBP/EUR move very close to 1.17.

With the UK  government now looking like they will have to vote on whether to invoke Article 50 and Nicola Sturgeon making her presence fault hinting that Scotland should have a say on Article 50 it looks as though an EU exit could be long and arduous which does not bode well for the pound.

If  you have a currency requirement it is crucial to be in touch with an experienced broker. The timing of your trade is vital during such volatile  times, If you have an experienced broker on board he/she can keep you up to date with what is happening in the market to help you make an informed decision. I will be happy to help you personally. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to better nearly very competitors rate of exchange. You would also be looking as much as 4% in comparison to high street banks. Please do get in touch by contacting me at dcj@currencies.co.uk. Thank you for reading my blog.

GBP/EUR Spike Following False Memo (Matthew Vassallo)

GBP/EUR rates have recovered this morning following yesterday’s losses for the Pound. Sterling lost value yesterday following the release an apparent leaked memo, which indicated that up 30,000 additional civil servants would be required to facilitate our Brexit following the triggering of Article 50.

This memo was widely renounced last night and this morning and the Pound has benefited as a result. Despite today’s spike yesterday’s sudden dip proves how fragile the UK economy and GBP remains in investors eyes and for that reason I would still be keen to take advantage of the improvement seen since last week.

GBP/EUR movements have been unpredictable ever since the UK’s decision to leave the EU and with pressure on both the UK & Eurozone economies I do not anticipate this trend to change anytime soon. Unless you are a gambler or extremely risk adverse, I would be tempted to make provisions to try and limit further negative market movement by locking in any short-term currency exchanges. You can also look to protect longer-term positions by way of a forward contract, which will completely eliminate the chance of future negative market movement.

The global impact of US President elect Donald Trump is yet to take full effect and with so much uncertainty surrounding the UK and our upcoming Brexit, alongside vast political and economic positons inside the Eurozone, I would not be prepared to risk heavy losses in such an uncertain and unstable market.

If you have an upcoming GBP or EUR currency exchange to make and you are concerned by the increased market volatility of late, it may be wise to look at protecting the gains you’ve made, or limiting your losses with one of our forward contracts, rather than gamble on what has become an increasingly volatile and unpredictable market.

If you would like to be kept up to date with all the latest market movements ahead of your currency exchange, or simply wish to compare our award-winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on mtv@currencies.co.uk

Buying Euro rates see net loss today (Joshua Privett)

GBP/EUR rates had been falling heavily this morning following a leaked government memo which gave an overview of how the current plans are going ahead of the Government’s attempts to implement a Brexit.

Alarmingly, the memo points to the need to hire an additional 30,000 staff to implement the Brexit itself, and also suggests that there is ‘no plan’. Currently, the Government is aiming to address 500 topics to cover all contingencies and negotiating topics following the triggering of Article 50 come March. With this estimation on staff increases necessary to cover the workload in the meantime, the shortfall pains the picture of a shambles currently in place.

Unfortunately the memo also points to issues within the Cabinet itself, with splits between Foreign Secretary Boris Johnson, Brexit Secretary David Davis and International Trade Secretary Liam Fox on one side, and Chancellor Philip Hammond and Business Secretary Greg Clark on the other.

Whilst markets have been interested in hearing about ‘delays’ in the enactment of Article 50, this news no longer is a question simply of delays but actually hurts the image of the government’s negotiating positon heading into their meetings with Europe.

Inflation figures released since this statement this morning have since stabilised the Pound, showing that prices are not rising as quickly as initially calculated.

So with this market already proven to have been hypersensitive this morning, GBP/EUR can expect complimentary movements as the week progresses.

Buying Euro rates are up at much more attractive levels and the sensible option given this new curve-ball introduced to the marketplace would be for buyers to secure their currency given the 4% gains since last week still available.

I strongly recommend that Euro buyers should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer in order to maximize your Euro return.

I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for anyone planning a foreign currency purchase in the near term and wishing to secure these gains rather than having to wait for what the rate is on that day.

Buying Euro rates surge following Trump’s election (Joshua Privett)

Buying Euro rates have seen their largest and most sustained gains since the day before the Referendumin June, reflecting just how positive the sudden shift in sentiment towards the Brexit has become.

Since Wednesday morning with the confirmation of a Trump victory,the Pound’s rally has shown movement in three days what has not been recorded, apart from the flash crash, in the space of two whole months of trading. Stagnation begone, there is life in the markets once more.

To summarise briefly why, this is due to the special relationship between the Dollar and the Euro. Given that USD/EUR is the most heavily traded currency pairing in the world, weakness in one currency tends to translate into strength in the other, as capital goes flying into the other currency in those situations – boosting its value through increased demand.

When assuming the mantle Trump gave his most measured, conciliatory and unifying acceptance speech. He almost appeared to have a split personality, and initial fears of him immediately railing about building a well and banning Muslims were replaced with an almost strange optimism that he may be more conciliatory than people thought. The Dollar strengthened as a result. This caused a run on the Euro to reach up to new heights of 1.16, but has since backtracked slightly.

With GBP/EUR still incredibly sensitive to political news, as always this market carries a hefty amount of risk alongside the potential for further opportunities, particularly after such a long dry-spell for foreign currency buyers using Sterling.

 

I strongly recommend if you have a buying or selling Euro requirement that you contact me whilst markets are closed over the weekend on jjp@currencies.co.uk to discuss a strategy for your transfer aimed at maximising your currency return, and to hear the options open to you to safeguard your transfer from any adverse movements.

I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on an upcoming transfer.

Rates to buy Euros with Sterling at their best level in 6 weeks (Tom Holian)

Sterling Euro exchange rates have had a very positive week with rates to buy Euros at their best level for almost 2 months.  The issue of Article 50 appears to have taken a back seat this week following the announcement that Donald Trump is the new President of the United States of America.

Previously Obama stated that the UK will likely go to the back of the queue if we voted to leave the European Union in terms of trade deals but Trump appears more positive toward the UK.

Indeed, Trump has business interests over here and also was quite vocal and supportive during the Brexit vote.

GBPEUR exchange rates have moved by 4 cents from the high to low which on a currency transfer of over €100,000 is the difference of over £3,000 which highlights the importance of using a currency broker who can keep you updated with market movements.

On Tuesday morning Eurozone GDP figures are released and any change in the expectation could cause even further volatility on the foreign exchange market.

If you are looking to buy or sell Euros and are worried about the ongoing volatility caused by the US election results but do not yet have the funds available then it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.

Having worked in the foreign exchange industry since 2003 I am confident that not only can I offer you better exchange rates when buying or selling Euros compared to using your own bank but also help you with the timing of your transfer.

If you have a currency transfer to make and would like further information or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Alternatively fill in the form below

 

Sterling on the Rise, The Trump Card has been pulled! (Daniel Johnson)

The Trump Factor

Now that the under dog Donald Trump has gained power he has been a catalyst for Sterling strength. He has been forthcoming about getting a trade deal put together with the UK which has seen the pound rise in value. Theresa May played the smart move not lambasting Mr Trump as other key political figures did. She knew if he got into power they would have to work together and her silence has paid off.

The movement on the market shows just how important trade negotiations are for the UK. The market does not react well to uncertainty, you take that uncertainty away and the currency in question will strengthen. Lets hope trade negotiations are quick and decisive, although I wouldn’t hold my breath.

GBP/EUR currently sits over 1.15. This is an excellent opportunity for Euro buyers as the uncertainty surrounding Brexit does not bode well for the pound’s value. It may be wise to take advantage of current levels.

If you need assistance timing your trade and worried about getting competitive rates of exchange please do not hesitate to get in touch I will be happy to assist. I work for one of the top brokerages in the country which enables me to get some of the best rates of exchange and will also give you peace of mind using an FCA registered PLC company in business for over 16 years. If you let me know the currency pair you are trading,time scale and the volume you will be transferring I will come up with an individual trading strategy to try and maximise your return. I will be prepared to provide a comparision with your current provider to demonstrate how much I can save you. You will be looking at up to a 4% saving compared to the Banks. I can be contacted at dcj@currencies.co.uk. Thank you for reading my blog and I look forward to being of assistance.

Daniel Johnson

Executive Broker – Foreign Currency Direct PLC

GBPEUR increases due to US Presidential Election (Dayle Littlejohn)

Yesterday the US public shocked the world by voting for Republican Candidate Donald Trump to become the next President of the United States of America.  Currency markets fluctuated throughout the day, however sterling finished the day up against all major currencies.

Many of my clients have asked why the pound has gained value and I actually believe Donald Trumps comments in the past about a trade relationship between the US and UK has increased investor confidence in the UK.

However for euro buyers I think will is a temporary spike only. The closer we get to the Supreme Court  decision in regards to Brexit should put pressure on the pound and therefore GBPEUR exchange rates will fall once more.

For euro buyers you are purchasing at 5 week highs and personally  this could be the spike you have been waiting for! 

If you are buying or selling euros this year, today is the day to get in touch. Many people still believe the only way to transfer large amounts of money is through the bank and this is not the case. The company I work for enables me to give better exchange rates than high street banks which consequently means the individual saves money.

I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

 

Donald Trump Wins US Presidential Election (Matthew Vassallo)

The results are in and it his rival Hilary Clinton has conceded the US Presidential election to property mogul Donald J Trump! Whilst some remaining votes are still to be counted, President Trump has reached the 270 electoral votes he required to fend off his Democratic rival Clinton and take his place in the White House.

This result will send shock waves across the world, as the once unthinkable has now become reality. How this will affect global markets is difficult to analyse at this point but GBP/EUR rates have taken a hit during the early days trading, with the pair hitting 1.1077 at the low.

Whilst there is no direct correlation between the US Presidential election and GBP/EUR, it is sure to have a knock-on effect for the global markets and due to the fact investors viewed a Trump victory in such a negative light, increased market volatility is likely over the coming days.

I still don’t feel a sustainable increase for Sterling is likely against the EUR under current market conditions but it may be that the EUR will also struggle to bounce back to its recent highs, due to last week’s high court ruling regarding the triggering of Article 50 having to be ratified through Parliament.  I would be looking to take advantage of the current rates rather than gamble on an increasingly unpredictable market and with the US election results likely to cause additional market volatility over the coming days, the current rates could suddenly seem extremely attractive in weeks to come.

Looking at the key economic data this week and yesterday’s UK Manufacturing & Industrial Production data was mixed, so investor focus will now switch to today’s European Commission’s economic growth forecasts, so expect increased volatility on GBP/EUR exchange rates over the next couple of days.

If you have an upcoming Sterling or Euro currency exchange to make and you are concerned by the increased market volatility of late, it may be wise to look at protecting the gains you’ve made, or limiting your losses with one of our forward contracts, rather than gamble on what has become an increasingly volatile and unpredictable market.

If you would like to be kept up to date with all the latest market movements ahead of your currency exchange, or simply wish to compare our award-winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on mtv@currencies.co.uk

Sterling Exchange Rates Before US Presidential Election (James Lovick)

Sterling exchange rates have seen very mixed movements across all of the major currencies today although it has been limited for GBP EUR. In my view the US Presidential election tomorrow is having major impact on all of the exchange rates as there is so much uncertainty as to which candidates Trump or Clinton will take office in the White House.

The pound saw a good boost against the Euro at the end of last week following the high court ruling which went against UK Prime Minister Theresa May. This spike proved very short lived though with rates down about 1 cent from the recent high of last week. The government are now taking the case to the Supreme Court and is scheduled to be heard in early December.

Considering the market volatility seen last week then this case will have major implications for the pound. Should the government win the case this time round then the pound in my view would most likely fall. Any clients who are still yet to sell Euros should be aware of this case and its implications. It is my understanding that the case could go either way which presents a real exposure for clients buying or selling pounds with big movements in either direction expected.

UK manufacturing production numbers are released tomorrow morning ahead of UK trade balance data on Wednesday. However with the US election tomorrow I would expect to see a more subdued day ahead of what could be a very volatile period on Wednesday.

Clients who are holding sterling are seeing a very volatile period at the moment which is unlikely to change any time soon. The Brexit jitters are keeping the pressure on the pound. If you 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 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk