Monthly Archives: January 2017

GBP/EUR rates experience a rollercoaster today (Joshua Privett)

Today produced a few moments which left the hearts in the mouth of Euro buyers everywhere, with GBP/EUR rates falling from 1.17 to 1.15 in a matter of hours during trading this morning.

Housing data for the UK this morning at 9:30am and this was lower that expected. Currency markets are always sensitive to house market news, given its ties to interest rates decisions and the ability to measure consumer confidence figures in the UK. This started the run against the Pound.

For Euro buyers these losses were exaggerated in morning trading with the release of three key pieces of information which produced greater support for the Euro’s value.

Growth for the Eurozone came in much higher than expected, improving its yearly forecasts to 1.8%, which is a stunning turnaround to a year ago. As such the unemployent rate is now well below 10% as well at 9.6%. Still on on par with the UK or the US, but a move in the right direction.

This is what currency markets care about, improvements.

Even inflation had improved, and this overwhelming positive tone is what saw the Euro gain move than a percent against the Pound at that point.

The fact that yesterdays news from Brexit negotiators om the Eurozone’s side upset the Pound as well by pointing our European Parliaments would be unhappy with a favourable deal for the UK. The landscape for Euro buyers thus seems decidedly negative in the short-term.

Euro buyers may be wise to move sooner rather than later, and if you contact me on jjp@currencies.co.uk, I can reply with the options open to you to seize any potential improvements tomorrow morning.

Furthermore, I have ever had an issue beating the rates of exchange on offer elsewhere, so a brief email exchange could save you thousands on a prospective currency exchange.

GBP EUR before Bank of England Meeting (James Lovick)

The pound is hitting resistance at these higher levels with GBP EUR sitting just below 1.17. This week and next could see substantial volatility for sterling exchange rates as the Brexit bill to invoke Article 50 is about to be scrutinised in Parliament.

There are a fairly large number of MP’s who are highly likely to vote against the bill so there is still a chance that Brexit could be delayed if things are held up in the House of Commons and House of Lords.

Any politically sensitive issues that come out of this could see heightened volatility for the pound as the final destination of Brexit could become less clear. Politics continues to be the single largest driver for sterling exchange rates and will continue to do so for some time.

The Bank of England will meet this Thursday to discuss interest rate policy and although no rate change is expected the markets are likely to pick up on any comments from Bank of England governor Mark Carney.

The quarterly inflation report is also released on Thursday and this is likely to be particularly interesting for the Bank of England as to the future path of interest rates. Any suggestion of rising inflation is likely to create a degree of sterling strength as despite an amount of uncertainty that comes with Brexit there is still a real chance that interest rates may start to climb either this year or next. There are likely to be some buying opportunities after the meeting.

European data is relatively light this week although EU Gross Domestic Product figures later today could crate some volatility for Euro exchange rates.

If you would like further information on sterling exchange rates and to discuss how we can assist 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

Sterling Drops Following Brexit Comments (Matthew Vassallo)

Sterling lost some ground against the EUR this afternoon, following comments my made by a head EU negotiator regarding the UK’s upcoming Brexit.

He stated that any decision regarding a future deal with the UK would have to be ratified through European Parliament and as such the UK was unlikely to get the deal it wanted following the triggering of Article 50.

This immediately caused investors to pull funds away from Sterling, which has performed well of late against the single currency. GBP/EUR hit a high of 1.1778 earlier today before retracting to 1.6664 this afternoon.

This move is a reminder of how fragile the current market is. I’ve said to my clients that sustainable strength for the Pound is unlikely under current market conditions and as such I would be looking to take advantage of the gains we’ve seen over the past two weeks.

Any further negative comments about Brexit are only likely to intensify these losses and as such I would be looking to protect any short-term Sterling currency requirements by way of a forward contract. I still do not think that there is enough information to hand to make a firm decision either way and whilst the Pound has certainly gained a foothold, there are still many unanswered questions.

Until Article 50 has been approved and we have clearer picture of how we will actually facilitate our exit from the EU, investors are likely to remain sceptical.

For example what trade deals will be negotiated once we have exited the single market? What immigration rights will skilled workers have? What real plan is in place to drive the UK economy forward?

It may well be that the government have answers to these questions but words alone will not be enough to help the Pound recover to pre Brexit highs and I still feel that sustainable Sterling strength is unlikely under the current market conditions.

I do feel that there are many economic and political issues inside the Eurozone that will manifest themselves as we move through 2017 and this in turn could inadvertently boost Sterling’s value, but for the time being I do not envisage GBP/EUR rates breaching 1.20 whilst market conditions remain as they are.

Looking ahead and its Thursday’s Bank of England (BoE) interest rate decision and subsequent minutes/press conference, which will be focused on by investors. Any deviation from the expected result and/or comments regarding future rate changes will likely cause additional volatility on GBP/EUR rates.

If you have an upcoming GBP or EUR currency transfer to make and are concerned about the current market instability, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact us on 0044 1494 725 353 and ask one of the team for Matt.

Alternatively, I can be emailed directly on mtv@currencies.co.uk and can answer any queries you have about the current market trends & forecasts.

Rate to buy Euros with Sterling and the impact of next week’s Eurozone economic data (Tom Holian)

We are in for a big week for anyone looking to buy Euros with Sterling as the focus will turn to Eurozone economic data due to be released early next week.

UK GDP from Thursday has already shown that the British economy has remained resilient during the final quarter of 2016 and that the Brexit uncertainty has not had the negative effect that some experts previously had predicted.

On Monday of next week Eurozone data begins with the release of Consumer Confidence as well as Industrial Confidence data. This is likely to cause some volatility for GBPEUR rates but personally I think Tuesday’s data will cause the most movement for the Pound vs the Euro.

On Tuesday the Eurozone announces Inflation, GDP and Unemployment data. Each data release is extremely important in its own right and all three are due to be released within an hour of each other which is rather unusual so in my opinion this could cause huge movements for Sterling vs the Euro shortly after the release on Tuesday morning.

Therefore, it is important that you keep a close eye on what is happening with rates as this is likely to affect the value of Sterling vs the Euro but it is not yet clear whether the data will be positive or negative.

Sterling has been trying to get towards 1.20 recently and has struggled to get past 1.18 during this month but if the data is negative for the Eurozone early next week this could be the catalyst needed to send GBPEUR rates in the direction of 1.20.

However, the ongoing discussions concerning the Brexit are likely to weigh heavily on Sterling so the opportunity to buy at slightly higher rates could be limited.

To be kept up to date with what is happening between Sterling and the Euro or if you have a currency transfer to make then contact me directly for a free quote and I look forward to hearing from you.

I have worked in the fx industry since 2003 for one of the UK’s leading currency brokers and therefore I am able to offer you bank beating rates.

For a free quote please email me with a brief outline of what you need to do and I’ll happily respond.

Tom Holian teh@currencies.co.uk

 

 

 

GBP EUR ahead of Trump / May Meeting (James Lovick)

The pound has taken losses today against most major currencies including the Euro and US dollar. GBPEUR has fallen to 1.1720. UK Prime Minister Theresa May will meet US President Donald Trump today and there is an expected press statement from the Prime Minister this evening. There is a huge amount of interest in this symbolic meeting where a trade deal will be discussed and other UK US policy. This could lend support for the pound and there could be some short term gains for sterling exchange rates on the back of it. GBP EUR may have 1.18 in sight on a positive outcome.

The pound is especially volatile to political shocks at the moment with the biggest political upset of Brexit in decades. Sterling remains at these weaker levels and is likely to remain so although there has been some recent support of late. The pound turned around after Theresa May gave her Brexit blueprint last week which saw the pound move by over 2% against the single currency.

EU GDP numbers for the fourth quarter are released next week on Tuesday and could provide for an interesting market reaction especially if there is some weakness in the official numbers. The Eurozone has been battling with chronic low inflation and weak growth for years although inflation is just starting to inch higher as it is in the UK as a result of the recent climb in the price of oil. Whilst inflation is shooting higher, GDP is less likely to be on the rise so the Euro is unlikely to see real benefit.

 If you would like further information on sterling or Euro exchange rates and to discuss how we can assist 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 Euro rates subject to Trump meeting with May today (Joshua Privett)

Buying Euro rates have seen a hefty improvement this week following a few long awaited pieces of news that came up trumps, excuse the pun, for Euro buyers after initially a very difficult beginning to the month.

This website has covered the movement extensively, with the Supreme Court decision holding Parliament to account, alongside continuity in UK growth being recorded for yesterday morning for the final quarter of 2016, discounting some forecasts that the UK economy would slow in the aftermath of the Brexit vote.

Today will either provide a short term boost or slump to GBP/EUR after a week of over 3 cent gains already, and the likelihood is that it will be positive, but Trump has always been the wildcard, both in politics and the financial world.

However, his propensity to overwhelmingly exaggerate how well his meetings go is becoming almost a guarantee. His interview last night on Fox news said that his speech at the CIA was ‘really a 10’ and everyone was standing and cheering the whole time. I saw the speech, he’s in a dream world.

But his positive exclamation towards a meeting with May, and any mention of a trade deal will allow for further stimulus to the Pound’s rally.

Buyers will get a better idea of the long-term trends over the weekend, and if you contact me on jjp@currencies.co.uk, I can email updated forecasts in relation to your particular situation at that time.

Furthermore, I have ever had an issue beating the rates of exchange on offer elsewhere, so it will be well worth your time contacting me for a comparative quote.

You can also call me on 01494 787 478 and ask the reception team to be put through to me (Josh).

May delivers controversial exit bill (Daniel Johnson)

Anger at Exit Bill, brief is an understatement

There was anger from parliament today after May delivered the exit bill and it was only 130 words. MP’s will only get five days to debate and amend it. Minsters had stated  they would keep legislation limited, but this is slightly ridiculous at just eight lines. Labour immediately attacked the bill and Jeremy Corbyn is now in an awkward position.

Corbyn could call for a vote against the time table, but he had previously stated he would not obstruct the exit process. It seems to be a shrewd move from May to try and get her own way with regards to the Brexit process, however this move can hardly be considered democratic. It is about time politicians stopped thinking about there own political agendas and did what is best for the UK. Chance would be a fine thing.

Tim Farrow the Lib Dem leader was unimpressed stating “This bill is short and not sweet”. Given how long he’s been campaigning to leave the EU, it’s amazing this 133 word bill took David Davis such a long time – that’s only five words a day since Brexit. Take back control was a mantra of the leave campaign, but this government’s extreme reluctance to involve parliament in this process has instead been an affront to parliamentary sovereignty and democracy. With Labour  tonally confused over Brexit and the Conservatives determined to take us out of Europe and the single Market at any cost, only the Liberal Democrats are fighting for full membership of the Single Market and a public vote on the final deal.”

The Bill also curiously does not include May’s final day for Brexit, 31st March. Which questions time scale. The markets have not showed much movement at present, probably due to investor’s having so little to  go on.

There are high levels of volatility expected during the Brexit process and it is vital to be in touch with an experienced broker. If you require my assistance please do get in touch for no obligation help. You can e-mail me at dcj@currencies.co.uk.

 

 

When should I buy Euros with Sterling? (Tom Holian)

The rate to buy Euros with Sterling has seen a dramatic improvement over the last fortnight following Theresa May’s rather bullish speech when she stated that the government would seek parliamentary approval with regards the Brexit issue.

However, even though UK GDP came out better than expected we have seen a surprise fall for Sterling vs the single currency this morning although the Pound has now shot back up to where it was at the start of the trading session.

It appears as though Sterling is now on a general trend in an upwards direction against the Euro and the stumbling block which was the Supreme Court verdict has now been hurdled successfully.

We are clearly not out of the woods for Sterling but at least for the time being things are going in the right direction and we could see further gains next week as we end the month.

Tomorrow afternoon US GDP data is released and often with US data this causes a lot of movement for global currency rates. If the data is positive this could end up with Dollar strength and Euro weakness creating some better opportunities to buy Euros with Sterling.

Therefore, we could be in for a volatile end to the week and I think we could see Sterling end the week on a high.

If you’re worried about the ongoing uncertainty caused by the Brexit issues and have a currency purchase to make in the near future it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

Having worked for www.currencies.co.uk for over 14 years I am confident that not only can I offer you bank beating exchange rates but also help you with the timing of your transfer.

If you have a currency transfer to make 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

 

 

GBP/EUR exchange rate now approaching 1.17, but will new Brexit fears weaken the Pound? (Joseph Wright)

Yesterday morning the Supreme Court delivered its verdict on whether or not the UK government require parliamentary approval before invoking Article 50, creating some large swings between the GBP/EUR exchange rate.

The Supreme Court decided to uphold the High Court’s decision, meaning that Theresa May will need to consult parliament before formally beginning the Brexit process. Many had expected this outcome to result in Sterling strength and initially the Pound did spike upward, but further complications soon weighed on the Pound causing it to drop.

Moving forward the Pound could continue to come under pressure as one of the key announcements yesterday was that the UK government does not need the permission of the UK’s devolved nations before invoking Article 50. Scottish First Minister, Nicola Sturgeon was quick to raise this point and suggested the need for another Scottish Independence referendum.

Sterling came under significant pressure during the last referendum on Scottish independence, and should the matter surface once again it’s likely we can expect to see the Pound soften in value due to further uncertainty on the horizon.

Outside of Brexit related news tomorrow morning could be eventful for Sterling exchange rates as UK GDP figures will be released at 9.30 am tomorrow morning, and the expectation is for a 0.5% through the 4th quarter of 2016.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

 

What can we expect on GBPEUR exchange rates today?

Well folks it is the morning we have been waiting for, today we have the release of the UK’s Supreme Court decision which is at 09.30 am. This long awaited decision by the court will determine whether or not it is legal for the Prime Minister and her Government to trigger Article 50 without the consent of Parliament. It is widely expected to lead to turbulence on rates but the general impression is the previous decision will be upheld and sterling will strengthen.

The outcome is not too clear but GBP strength does seem the likelihood. The reason it is not clear is because the decision might be that Theresa May wins the case and can act without parliament. However we are already aware Theresa May will be seeking more of a ‘clean’ or ‘hard’ Brexit from her speech last week. Therefore it can be argued that if the decision is upheld by forcing Theresa May to go through parliament the pound may weaken because it is derailing some of the plans Theresa May outlined last week which were so well received by the markets. So where before last week we would have expected GBP strength, now there is a possibility the pound may weaken.

Expectations on GBPEUR could be as high as 1.18 and as low as 1.13 in my opinion. Whilst the potency of today’s decision is somewhat tamed by the recent speech from Theresa May where she said she would give parliament a vote on the final bill there are various reports stating the PM has already planned many a contingency plan. With most MP’s expected to back the Article 50 bill for fear of going against the will of the people parliament’s power will be somewhat limited anyway.

I expect GBPEUR to be trading a bit closer to 1.17 by the close of business but expect this could largely be a bit of a damp squib. For GBPEUR buyers however this could be the opportunity you have been waiting for and with the pound likely to come under further fresh pressure in the future whatever the outcome today, clients buying Euros with pounds should probably be looking to capitalise on any improvements.

For fresh updates and analysis on what the Supreme Court case means for your currency exchanges please speak to me Jonathan by emailing jmw@currencies.co.uk.

Markets Await Supreme Court Ruling (Matthew Vassallo)

Sterling has made further gains against the EUR today, as the markets await tomorrow’s Supreme Court ruling.

GBP/EUR rates have hit a high of 1.1635, meaning that Sterling’s value has increased by over three cents against its EUR counterpart since early last week.

The Supreme Court must decide as to whether they are going to back up the original ruling of the High Court, who had decided that Article 50 needs to be ratified by MP’s before in can be triggered by the UK government.

Article 50 will officially start the process of the UK’s Brexit and as such has a huge bearing on the UK economy and ultimately any decision is likely to have a knock on effect on the value of the Pound.

It is widely anticipated that the Supreme Court will support the High Court’s decision, which in turn means that MP’s may well look towards a softer Brexit than most anticipated. This in turn is likely to help support Sterling’s value and as such is being priced into the current exchange rates.

Therefore I do not necessarily expect an aggressive spike should the anticipated result come to fruition but any result against the grain could cause cause the Pound’s value to decrease quickly.

The current market remains unpredictable and Sterling’s value has wavered excessively over recent weeks. Every time the UK economy takes a step forward it is knocked back and the Pound remains handicapped by the on-going uncertainty surrounding Brexit.

I have said to clients they should be looking for short-term opportunities rather than long-term sustainable improvement until the picture becomes clearer regarding how we will facilitate our exit from the EU and the deals that are in place subsequently.

If you have an upcoming currency transfer to make and are concerned about the current market instability, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact us on 0044 1494 725 353 and ask one of the team for Matt.

Alternatively, I can be emailed directly on mtv@currencies.co.uk and can answer any queries you have about the current market trends & forecasts.

When should I buy my euros? (Dayle Littlejohn)

With GBPEUR exchange rates up and down like a yoyo, this week should be no different.

The Supreme Court is set to realise their verdict Tuesday and national newspapers are suggesting UK Prime Minister Theresa May will need to attain Parliament’s approval if she wishes to invoke Article50.

If the newspapers have it right, I expect this could lead to the pound gaining momentum which in turn makes purchasing euros cheaper.

However 2016 was the year of surprises could we see more of the same this year? Who thought Donald Trump would now be President of the United States of America?

Later in the week UK Prime Minister will meet President Donald Trump to discuss arising issues such as nato, terrorism and most importantly for GBPEUR exchange rates a free trade deal. If Mr Trump takes to his famous Twitter account to address the public, this could cause major swings.

All in all, this could be a positive week for GBPEUR exchange rates, however I still believe the closer we get to the Brexit deadline GBPEUR exchange rates will fall.

For further information in regards to GBPEUR exchange rates feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with the options available to you and the process of using the company I work for 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! **

 

Will the Pound go up against the Euro following Trump’s inauguration? (Tom Holian)

Sterling has made some very positive movements vs the single currency over the course of the last few days as Prime Minister Theresa May announced her 12 point plan for her Brexit strategy on Tuesday.

She announced that the UK would have no choice but to leave the single market if we are to leave the European Union but she carried on to say that we would look for the very best possible terms for the UK which would include renegotiating the current free trade deals with Europe.

This would also include looking at new trade deals with other countries outside of Europe and with Donald Trump now having been fully inaugurated into the White House this could be rather positive as Trump was very pro-Brexit during last year’s campaign.

Trump has also previously suggested that he would put the UK near the front of the queue when it comes to doing business so we could see the Pound make gains vs the Euro going into next week.

With the Supreme Court judgement announcement now expected to come out on Tuesday we could see further volatility for Sterling Euro exchange rates but my inkling is that we’ll see the Pound strengthen vs the Euro as it is potentially one less hurdle for Theresa May to worry about.

Going into next week I expect the markets to remain stable until the judgement due on Tuesday so it is important that you keep a close eye on what happens to GBPEUR rates if you need to make a currency transfer.

 

If you have a currency transfer to make and would like to save money on exchange rates when buying or selling Euros compared to using your own bank or other currency broker then feel free to contact me for further information or for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Has Sterling’s Run Come to an End? (Matthew Vassallo)

Sterling has been on an impressive run against the EUR this week, following UK Prime Minister Theresa May’s Brexit speech on Tuesday.

In it she outlined plans for our breakaway from the EU, finally giving the markets some detailed information on how the government hope to facilitate our exit.

Her tone was bullish as she claimed ‘no deal is better than a bad deal’ with the EU but remained hopeful that a trade agreement would be put in place with our closet trading partners. She also went on to state that we would leave the single market completely but I think there is a growing understanding between the UK government and key EU figureheads that both economies need each other.

There will a lot of political jostling as the EU cannot be seen to be weak and giving away too much, for fear of creating a domino effect, where other countries inside the block may look to leave. We need to remember that the UK is the financial hub of Europe and as such it does give us a stronger bargaining position than most.

However, despite this step forward there are still many unanswered questions and May’s plans are purely hypothetical at this stage. The Pound is benefiting from some concrete information, which has brought back a level of investor confidence to the UK economy. I still do not think that an aggressive spike for Sterling is sustainable but the Pound certainly looks to have gained a foothold following the recent developments.

With key political elections in the Netherlands, France & Germany this year and increase in support for the far right movement, the political landscape could look very different by the end of this year and any instability or uncertainty is unlikely to help support any major advances for the EUR.

All of this leads me to the conclusion that EUR sellers should be protecting themselves and taking advantage of the current levels, as they may well look extremely attractive in months to come.

If you have an upcoming GBP or EUR currency transfers to make 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 us on 0044 1494 725 353 and ask one of the team for Matt.

Alternatively, I can be emailed directly on mtv@currencies.co.uk

Draghi causes Euro weakness (Daniel Johnson)

Inflation worries will not dissipate

Mario Draghi, the head of the European Central Bank (ECB) spoke after Consumer Price Index (CPI) data was released. CPI is a measure of price movements by the comparison between various retail products and services. It is a key indicator of inflation. Draghi caused the Euro to weaken stating that the previous strong inflation data was not enough to take pressure off the ECB. Data today came in as expected with no improvement on the previous month.

Inflation has been  a key issue for the Eurozone, at some points bordering close to deflation. Quantitative Easing (QE) has been put in place in an attempt to combat deflation. The ECB recently dropped monthly increments from €80bn to €60bn in a bold move. I tend to agree with Draghi, I think there are serious issues with regards to inflation in the Eurozone, one set of data by no means indicates a steady rise in inflation.

GBP/EUR Outlook

This year the GBP/EUR pairing will no doubt be extremely volatile. There is still a huge degree of uncertainty surrounding Brexit. A two year target for a full exit from the EU is unrealistic, borderline ridiculous. Sir Ivan Rogers, the UK ambassador for the EU recently resigned stating a realistic time frame for trade negotiations is more like ten years.

The Eurozone could be in for a very turbulent time with three General elections within the bloc. The Netherlands, France and Germany all have the outside chance of having a right wing government coming to power. This would mean there is the strong possibility of another referendum which would cause severe Euro weakness. When you add Greek debt, Italian bank’s bad loans in excess of €360bn and struggling inflation, things are not looking to rosy for the Eurozone.

It is wise to be in touch with an experienced broker during such volatile times. I can keep you up to date with spikes in your favour and also provide a free trading strategy to try and maximise your return. If you already have a currency provider, drop me an e-mail with the rate you have been offered and I am very confident I will be able to show you a significant saving. If you would like to get in touch feel free to contact me at dcj@currencies.co.uk.

 

Will Sterling go up against the Euro? (Tom Holian)

Sterling Euro exchange rates have seen a rather large uplift this week following the speech made by Prime Minister Theresa May concerning her Brexit plans.

Following the wobble for Sterling over the weekend the Pound has gained by over 3 cents vs the single currency providing some good opportunities for anyone looking to buy Euros.

The UK has made it clear that it is ready to negotiate with Europe and although it seems that the UK will be looking to leave the single market it will still try and maintain strong ties in the forms of new trade deals.

Next week the focus will turn to the Supreme Court judgement due on Tuesday and this is likely to provide further volatility between Sterling and the Euro.

It is abundantly clear that the Pound Euro exchange rate is being affected by any Brexit talks and this is likely to be ongoing and as ever this is impossible to predict. However, the good news for anyone looking to buy property in Europe is that Theresa May will look to protect the rights of Britons living abroad.

If you need to buy or sell Euros in the weeks ahead and concerned about future movements for GBPEUR rates in order to avoid the uncertainty 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 markets since 2003 for one of the UK’s leading currency brokers not only am I able to offer you bank beating exchange rates but also help you with the timing of your transfer.

If you would like further information about the process of saving money or for a free quote then contact me directly and I look forward to hearing form you.

Tom Holian teh@currencies.co.uk

 

 

Sterling Rallys following Theresa May’s speech (Daniel Johnson)

Theresa May announces Hard Brexit Plans

Despite the popular belief that the announcement of a hard brexit would be detrimental to Sterling it proves that some news is better than no news. Uncertainty surrounding a currency has proved to be more detrimental than negative news.

The PM has stated we will leave the single market but also said that any agreement with the European Union would allow the freest possible trade in goods and services. She also seemed to give the game away in regards to the supreme court judgement almost confirming parliament would vote on Brexit decisions.

EU leaders have responded and have said that the free trade in goods, services and workers is not possible if there are restrictions on the freedom of movement of people.

I think the clarity on Brexit provided by May is good news for the UK economy, but there are still factors that could cause Sterling to fall. The current time scale for a full Brexit is unrealistic set at two years. Sir Ivan Rogers the UK ambassador to the EU recently resigned due to an exit strategy he felt was insufficiently planned and a time scale which is unrealistic. Sir Ivan feels a ten year target is more realistic for trade negotiations.

The US has been very forthcoming in getting a trade deal in place, but it is important to remember the quickest deal ever brokered by the US with another county is four years.

I have a strong belief in which way I think GBP/EUR will be heading and would be happy to give you my thoughts. Feel free to get in touch if you require my assistance. I will provide a free trading strategy and I am also prepared to provide a rate comparison against your current provider should you have one. If you would like to get in touch I can be contacted at dcj@currencies.co.uk. Thank you for reading.

GBPEUR rises to fresh highs, what next?

GBPEUR rates have risen to fresh highs presenting some new opportunities for Euro buyers to buy Euros at much better exchange rates than previously thought. The pound to Euro rate rose to almost 1.16 which is a big improvement from the 1.12 that was on offer only a few days ago. Most analysts are worried about the pound in the coming months but Theresa May’s speech has given us fresh direction which could be well worth taking advantage of.

The pound has risen as Theresa May looks to set out a clear vision on her plans for Brexit. This will be in contrast to some of the EU leaders who will give a speech today and may well be looking to dampen May’s position. Expectations are for the UK to now approach the negotiations with some more vigour but it will interesting to see just the pound to euro rate reacts as we learn of updates from the EU as to how they have viewed the recent comments by May.

There is still plenty happening this week which could move the GBPEUR rate including the release of the latest UK Unemployment data today and then the European Central Bank interest rate decision and meeting tomorrow. Markets are very much focused on what is happening for the pound over Brexit but these events  could present some short term opportunities.

Friday is also Donald Trump’s inauguration which could really move the market as investors second guess the market and how Donald Trump’s policies will move global indices on currency and commodities. Most investors are now awaiting with baited breath the next twists and turns on GBPEUR, personally if I was buying Euros I would be cautious about holding on for too long.

For further information on the getting the best exchange rates please speak to me Jonathan by emailing jmw@currencies.co.uk. I am very confident I can help with some useful information and an exchange rate that will save you money over other sources, please feel free to contact me.

Thank you for reading.

Jonathan Watson

GBPEUR increases 2% (Dayle Littlejohn)

Euro buyers have received a fantastic boost today due to UK Prime Minister Theresa May press conference. The key message from the speech is that the UK will be leaving the EU in March and she plans to pull the UK out of the single market.

You would have thought the pound would have started to fall against the euro off the back of these comments however she also stated Parliament would get to vote on the final decision. This could be a hint that the Supreme Court is going to rule in favour of the UK and that’s why the pound has gained value.

It will be interesting to see how the pound reacts when the Supreme Court releases its decision. I believe the Supreme Court will rule in favour of the High Court and therefore the pound could make further gains and buying euros could become cheaper next week.

For further information in regards to GBPEUR exchange rates feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with the options available to you and the process of using the company I work for 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! **

All eyes on UK PM Theresa May’s Brexit speech later today, where to for GBP/EUR? (Joseph Wright)

Late on Friday’s trading session it was announced that the UK Prime Minister, Theresa May will be giving a speech later this morning outlining her Brexit plans.

The markets have reacted negatively to this news and many are expecting May to make a speech with a ‘Hard Brexit’ bias.

The Pound was already coming under pressure as May gave an interview with Sky News last weekend and commented that the UK cannot keep ‘bits’ of it’s EU membership. It’s comments such as these which are considered ‘Hard Brexit’ leaning and for those planning on making a currency exchange between the Pound and other currencies, any reference to a Hard Brexit from key government members is likely to have a negative impact on the Pounds value.

This morning’s speech is scheduled for for 11.45am, and during the speech May is expected to cover topics such as Brexit timescales, customs unions, immigration, potential transitional deals and EU funding arrangements.

Aside from this morning’s speech, the outcome of the Supreme Courts ruling on whether or not the government require parliamentary approval before invoking Article 50, and formally begin the Brexit process is likely to be one of the biggest movers of Sterling exchange rates. The outcome could be released any day now so it will be interesting to see how markets react. Feel free to get in touch if you wish to be kept updated.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.