Monthly Archives: March 2017

GBP EUR after Tusk Statement (James Lovick)

Now Article 50 has been invoked the markets are paying close attention to any clues as to what the negotiations will ultimately look like when they commence. The European Union confirmed today that negotiations concerning the exit bill and a future trade agreement must be discussed independently and the exit bill settled first. This is in stark contrast to the desired approach by the British government insisting that both issues must be discussed simultaneously.

Despite the suggestion that Britain could be off to a bad start the pound has proven extremely resilient so far. There is likely to be an uncertain period as we approach 29th April which is when the EU next meet to discuss the issue of Britain.
Politics will now be the main driver for sterling Euro exchange rates for the next two months in particular and potentially next two years.

The French election is also fast approaching with the first round being held 23rd April. In my view the Euro could see some considerable market weakness as the date approaches as Marine le Pen may have a big last push to win votes. This would materially change the shape of the European Union and could put the EU in an extremely precarious position. A Le pen win cannot be ruled out and I am of the opinion the markets have not yet started to price in such an eventuality. Those clients selling Euros may wish to move sooner rather than later should the Euro fundamentally weaken.

UK Gross Domestic product figures (GDP) released this morning were not revised up as many had hoped although the pound has remained relatively well supported against the Euro having briefly touched 1.17.

If you would like further information on sterling or Euro exchange rates or any of the major currencies 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

Pound to Euro exchange rates partially softening ahead of EU Brexit guideline release (Joshua Privett)

Pound to Euro exchange rates rallied fantastically yesterday for anyone with a planned Euro purchase, with the losses recorded across Tuesday and Wednesday evaporating as the sudden surge in confidence in the Pound pushed rates back above 1.16. A far cry higher than the 1.13’s on offer earlier in the month.

So where did this confidence come from? Most analysts are attributing this to a delayed fuse.

Tuesday saw the Pound lose heavily as investors sold off the Pound in order to avoid any exposure to the events of Article 50 the following day. Yet the day itself Sterling actually saw a net improvement on exchange rates. When markets woke up to find that no apocalypse on the exchange rates similar to the Referendum itself had manifested, the Pound began to be bought up in droves. Increased demand as always equates to increased value.

However, it is now the Europeans turn to comment on the upcoming negotiations, with statements to be released on their own expectations for the formats of the talks, and, crucially, what should be addressed first.

Will this produce a less amiable tone towards the negotiations than what Mrs May envisages? Quite likely. Merkel and Hollande have already come out reflecting this oppositional tone.

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well worth your time getting in contact with me on  jjp@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.

I strongly recommend calling me directly on 01494 787 478 and asking the reception team to be put through to Joshua to discuss a strategy for your transfer based on your situation.

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

 

GBP EUR Reaction to Article 50 (James Lovick)

Despite a muted reaction for GBP EUR exchange rates yesterday after the Article 50 letter was given to Brussels, the pound has made considerable gains against the Euro this afternoon. GBP EUR has broken through 1.16 and has 1.17 firmly in its sights. The mood has been generally positive after Article 50 has been invoked but there does now appear to be a considerable amount of support for GBP EUR. Those clients looking to buy Euros may see some further gains as the markets appear to be at ease with Brexit. Clients selling Euros may be wise to consider moving sooner rather than later and take the excellent selling prices which have been available for these last nine months.

Will the Pound Strengthen?

Politics is likely to be the main driving force in these coming days and weeks and the first decision to be made will be whether or not the EU are prepared to discuss the negotiations of an exit bill and future trade deal in tandem. This is the first key decision that will set the scene of the next two years and any clues as to the process could see considerable volatility.

The Brexit negotiation has in effect already begun with both German Chancellor Angela Merkel and French President Francois Hollande already insisting that the exit bill must be discussed first. This may of course change and no official line from EU27 has been offered yet.

UK GDP numbers are released tomorrow and a positive number could help see the pound strengthen. EU inflation numbers are also released tomorrow and could create some market reaction. The European Central Bank managed to give the wrong signals at the last interest rate meeting so anything out of the ordinary could muddle things further in these uncertain times.

If you would like further information on Euro exchange rates or any of the major currencies 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

Article 50 triggered so what next for Pound to Euro rates? (Tom Holian)

With Article 50 now having been triggered we have not seen some of the volatility on Pound Euro exchange rates that many were expecting.

The event itself left markets with little to move on and so the foreign exchange markets as well as global stock markets remained relatively flat.

The UK has now formally triggered Article 50 of the Lisbon treaty and as we have officially started the Brexit process we have now passed the point of no return.

Prime Minister Theresa May went on to try and reassure markets that the UK will be looking for the best possible deal for the UK and she is hoping to make ‘close ties’ with Europe.

I think the speech gave some reassurance to Sterling but as the trigger was expected to happen Pound to Euro rates did not see much movement.

Therefore, the focus will once again turn back to economic data.

Eurozone Consumer Confidence data is due out shortly and this is likely to impact Sterling Euro rates.

Tomorrow we could see a big day for the short term trend for Pound Euro exchange rates with a number of different data releases due to come.

On Friday UK GDP data is due out at 930am followed by Eurozone Consumer Price Index at 10am so expect to see big swings on GBPEUR exchange rates during Friday morning as both data releases are expected to be positive for both sides

Having worked in the foreign exchange industry for one of the UK’s leading currency brokers I am confident that I can offer you bank beating exchange rates. 

If you have a currency transfer to make and would like a free quote when either buying or selling Euros then email me directly with your particular requirement and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Pound drops as UK government plans to trigger Article 50 this afternoon (Joseph Wright)

Late last night Prime Minister Theresa May signed the letter triggering Article 50, and this letter will be delivered to the President of the European Council, Donald Tusk later this afternoon at 12.30pm.

This will officially start the Brexit process in which the UK has 2 years to leave the European Union, and in this time the UK will be doing its best to set up trade negotiations both in Europe and outside of it.

In the early hours of this morning the Pound dropped, which is a change to the currency’s general direction over the past week or so as we’ve seen the currency gain. Yesterday the pair hit 1.16 which was GBP/EUR’s highest level since the beginning of the month, and since this mornings drop the Pound has recovered some ground as it appears the currency is struggling for direction.

I think there could be some further swings during today’s trading session, especially this afternoon once Article 50 has been triggered and May offers a speech. Should she give anything away regarding the UK’s plans moving forward I think there could be movement in either direction for the Pound’s value.

If you would like to be kept updated regarding major news and movements within GBP exchange rates do feel free to get in touch.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well 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.

 

Will the pound rise or fall tomorrow against the Euro? (Dayle Littlejohn)

Since the UK public voted out of the European Union the financial investors have been unsure whether UK would actually leave or if another referendum would take place. After a High Court ruling, a Supreme Court ruling and some other stumbling blocks UK Prime Minister Theresa May is set to trigger Article 50 tomorrow morning.

For euro sellers buying pounds this could be the spike in the market that you have waited for as I believe exchange rates will drop 1-2% in your favour. We are expecting a busy day on the market and I will have to use my time wisely however if you are looking to transfer your euros into sterling and want to achieve the best rates tomorrow feel free to email me directly with your contact details. I will give you a call first thing tomorrow morning to run through the process and a strategy to maximise your returns drl@currencies.co.uk.

For euro buyers, I hope you have purchased when the market increased to the higher teens, however if you haven’t again you can email me and I will call you first thing to secure your currency before the Prime Minister makes the announcement or another strategy would be to sit back and ride it out as the French election towards the end of April could provide opportunity. Anti EU Marine Le Pen has gained momentum in the last 3 months ans is neck and neck with pro EU Macron. If Le Pen managed to get into power we could see another country holding a referendum in regards to EU membership

With all of the articles I write, I normally state that I will respond via email however as inquiries are coming think and fast, I will only be replying to clients in the form of a call tomorrow. Therefore if you do not provide your telephone number do not expect an email until Thursday morning drl@currencies.co.uk.

Enjoy your evening and I look forward to speaking with you tomorrow morning.

 

What will happen to GBPEUR after Article 50 is triggered?

Once Article 50 is triggered I expect the pound to enter a new phase against the Euro although at the moment I cannot see it breaking it out of the recent ranges of 1.13-1.18 we have been trapped in. The pound and the Euro have both found support in recent weeks as solid economic data and improved political certainty aid both currencies. The US dollar has also weakened lately, the main beneficiaries being the pound and the Euro. Both GBPUSD and EURUSD have both risen 3-4 cent in the last couple of weeks ever since the US failed to increase their interest rate hike expectations.

There is a distinct lack of volatility in the market on GBPEUR at present with only 60 pips (0.6 of 1 cent) movement between the high and the low yesterday. Eager Euro buyers may well see some improvements once Article 50 is triggered but I cannot see it lasting long as there are some big questions on the horizon which I foresee as likely to contribute to a decline in the value of the pound. I cannot see how the UK can come out of these negotiations with a better deal than it has already with the EU.

Clients reading GBPEUR for spikes to buy Euros could find some relief around the time of the French elections although Marine Le Pen is not expected to win so any spikes could prove short-lived. I also feel it would be a risky strategy holding on since who knows how weak the pound will be at that time?

The UK’s relationship with the EU has been the downfall of many a Prime Minister and a politician, David Cameron the most recent example. Can Theresa May navigate this rocky road with her reputation and the Conservative party intact? History tells us that the odds are stacked against any success here.

If you have any requirements to buy or sell pounds and Euros in the coming weeks and months then tomorrow’s news and the political fallout on both sides of the Channel will be key to determining the direction on GBPEUR in the future. If you would like some proactive assistance with the timings of any transfer then please feel free to get in touch as I would be interested in speaking to you and offering some information on when may be the best time to buy your currency.

Please email jmw@currencies.co.uk to learn more.

Jonathan Watson

 

Markets Ready Themselves for Article 50! – How will Sterling React? (Matthew Vassallo)

As we enter a week in which history will be made, now is the time to consider any short-term GBP/EUR currency requirements.

On Wednesday UK Prime Minister Theresa May will trigger Article 50, which will officially start the process of the UK leaving the EU. This seismic event has never been witnessed before as the UK will be the first nation to leave the single member state, with the outcome of this having been debated for months on end.

Whilst we will not know whether this was the correct decision or not for years to come, what we do know is an element of certainty will return to the markets. Due to the fact UK’s cards will finally being laid on the table, the question now is whether  the Pound can actually benefit as a result?

I think its poignant that the Pound actually received some support following Theresa May’s announcement last week that the bill would finally be triggered this Wednesday and as such, personally, I am not anticipating a major retraction for the Pound following the event. Of course, a downturn is possible, especially when you consider how much negativity has surrounded the whole event since last year’s referendum. but my feeling is that much of that negativity has been factored into the current GBP/EUR rates.

Regardless of personal opinion I feel the markets will be somewhat relieved when this bill is invoked, as it will remove any remaining uncertainty surrounding the issue. Yes, we still have a long road ahead but hopefully as we move beyond next Wednesday the markets will refocus and assuming there are no nasty surprises around the corner, the Pound has far more chance of a sustainable recovery in my opinion.

If you have an upcoming Sterling or Euro currency transfer to make, then we can help you navigate this turbulent market by keeping clients up to speed with all the latest developments regarding Brexit and beyond.

If you would like us to monitor the market for you ahead of a currency exchange, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on 0044 1494 787 478 and ask one of the team for Matt.

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

Article 50 and the expectations for Pound to Euro rates (Tom Holian)

Pound to Euro exchange rates have once again started to fall as we are now just days away from Article 50 being triggered.

There are many mixed opinions about what may happen to the value of Pound Sterling Euro rates once the official announcement has been made and my personal opinion is that this could be problematic for the Pound.

Although it could be argued that Article 50 has already been priced in to GBPEUR rates I cannot foresee any gains for the Pound as surely the announcement will be looked at negatively by Europe and therefore I’ll think we’ll see the Pound fall vs the Euro.

UK Retail Sales released yesterday came out much better than expected and although the Pound rose immediately after the data release the gains were short lived as the focus returns to what will happen to Sterling Euro exchange rates once Article 50 has been triggered.

I think we could see EU leaders focusing on the recent bad economic data in the UK and they may look to make an example of the deterioration in the UK economy to highlight the importance of staying in the European Union.

Sterling has got close to a 4 week high recently but I think this is short lived and simply the calm before the storm.

There is little economic data coming out during the early part of next week so it will be political influences that will cause the Pound Euro rate to move.

If you’re concerned about the impact of what may happen once Article 50 is triggered then it may be worth organising your transfer prior to Wednesday to avoid any potential risks to GBPEUR exchange rates.

Working for of the UK’s leading currency brokers I am confident that not only am I able to offer you bank beating exchange rates but also help you with the timing of your transfer of Euros.

For further information or for a free quote when buying or selling Euros then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

Article 50 and Pound to Euro exchange rates (Joshua Privett)

This is the final day before next week when Article 50 is enacted, and Pound to Euro rates are already coming under pressure after its gains against the Euro this week.

Sterling had initially rallied against all currencies, not just the Euro, at the beginning of the week as a result of economic data which was heavily suggestive that the UK economy would finally be gifted with an interest rate rise after years of cuts since the financial crisis. When will this happen? It is uncertain when the hike will come, but markets tend to move ahead of events, and Sterling is already two cents higher this week – but rates are beginning to backtrack.

Article 50 is next week, and whilst Theresa May has been doing her best to dispel anxiety surrounding its introduction really since January, there is still real potential for the Pound to lose ground on the day, as a nervous market who had been anticipating this event for 9 months may suddenly snap.

Pound to Euro exchange rates are already beginning to fall. The familiar Friday blues where investors sell off their less stable currency before the weekend in a bid to protect their portfolio. This seems to already be occurring, and this is more exaggerated against the Euro due to some positive business confidence data posted by the Eurozone this morning.

So what can we expect? A very difficult week next week is the likely outcome for Euro buyers. There are a record number of bets in the marketplace currently against the Pound, indication the majority of markets are not expecting a positive outcome.

Euro buyers may be wise to secure a rate of exchange now before the potentially negative impacts from the market next week.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on  jjp@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.

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

How will the Invocation of Article 50 effect GBP/EUR? (Daniel Johnson)

Could we see Sterling strength?

I feel my opinion on this one is slightly controversial, I am going against the grain. I think that once the dust settles Sterling will sit in a better position than we sit now (1.16). I would not expect significant gains however.

The market moves on rumour as well as fact. We see big swings on the exchange when something unforeseen occurs. The triggering of Article 50 is a certainty and we know the date it will occur, Wednesday 29th March. I think this is already factored into current buoyancy levels on GBP/EUR.

When to move GBP – EUR

Despite my prediction, I would not perform my entire trade after the event. I would move in tranches, maybe 30% – 40% before hand in order to protect myself from potential losses. I had several clients during the Brexit vote last year convinced we would remain and Sterling would rally, rather than move in tranches, they put all their eggs in one basket. When results came through some clients found their property purchases had become tens of thousands more expensive.

There is bound to be volatility, many seven figure investors are waiting for this event before pushing the button.

If you are holding Euros I would not procrastinate too long, I think the single currency could be in for a rough year. There are two general elections within the Eurozone this year, both of which could see a far-right party gain power, which would result in a referendum. We have already seen the damage caused to Sterling by a referendum. Also keep in mind Italian banks’ bad loans now above the €360bn mark and Greek debt and we could see big falls in Euro value.

If you would like my assistance with your currency requirements I will be happy to help. I will provide an indivdual trading strategy to suit your needs and also provide a comparison against your current provider. I can be contacted at dcj@currencies.co.uk.

Positive UK Retail Sales provide Sterling support vs the Euro (Tom Holian)

UK Retail Sales have just been published this morning and they came out much better than expected.

The expectation was for 0.4% and the figures showed an improvement to 1.4% for month on month.

This surprise economic data has seen huge increases for the Pound this morning against the Euro and all other major currencies.

UK Retail Sales in recent months have been relatively low so this morning’s data has provided huge support for Sterling.

Eurozone Consumer Confidence data is due to be released at 3pm this afternoon and this has been very positive in recent months so another strong data release could reverse Sterling’s gains from this morning.

However, will this gain be short lived and will Sterling fall next week?

With now less than a week to go before Article 50 is triggered people are getting prepared for what may happen to GBPEUR exchange rates once the official letter has been sent to confirm that we will be leaving the European Union.

Many of my clients have been buying forward contracts when buying or selling Euros in order to remove the potential uncertainty of what may happen next week.

A forward contract allows you to fix an exchange rate for a future date for a small deposit and means that whether markets go up or down you have the peace of mind knowing exactly how much it will cost.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident that not only am I able to offer you bank beating exchange rates but also help you with the timing of your trade.

If you would like more information or a free quote when buying or selling Euros then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Will GBPEUR rise or fall on Article 50?

We now finally have a date for Article 50 to be triggered and are expecting some big swings on the market as investors digest the outcome. The pound could possibly rise but I think in the end this will be a sterling negative event. Expectations over the outcome remain constrained to the likelihood that the market is viewing Brexit in a negative light. If the pound was to benefit so much from Article 50 being triggered why has it lost between 10 and 15% of its strength the vote last June?

The counter of course to this argument is that much of the weakness is priced in and we will actually see some movement higher as a relief rally. My greater concern for sterling, however, is the new set of questions we will be faced with once the Article 50 is invoked. What kind of deal will the UK get and how much is the Brexit bill will all weigh on the pound and makes anticipating the next moves tricky as the market tries to digest just what is happening and how it feels.

Overall I do believe the pound is likely to struggle and any Euro weakness we see as a result of the French election will ultimately be neutralised by a weaker pound in this period. We are gearing up for a very volatile period and with the 29th March now set as a date for the triggering of Article 50, all eyes will be on the pound and what may happen.

If you have a transfer to consider involving buying or selling the pound it is well worth making some plans in advance to navigate the uncertainty. We are here to help with proactive assistance to help you achieve your desired higher exchange rate. For more information at no cost or obligation please speak to me Jonathan by emailing jmw@currencies.co.uk.

Pound to Euro exchange rates show signs of life (Joshua Privett)

Pound to Euro exchange rates have enjoyed a positive end to the week after two weeks where Friday has forced a woeful atmosphere on many Euro buyers as they enter the weekend.

For once this currency movement had little to do with the twists and turns of the political sagas of both the UK and the Eurozone. Instead one of the side-effects of the Pound’s low value, rising prices due to the high number of items the UK exports, after many months, may finally yield to a long-awaited interest rate rise in the UK.

Interest rate rises are one of the tools used by the Bank of England to control pricing in the UK. By encouraging people to save, this should stem rising prices to some degree, given that the incentive to save rather than spend is higher – so prices aren’t driven up by higher demand.

Carney said that whilst rates won’t rise right now, there is a near certainty that they will in the future. As such the Pound has bumped upwards with speculators excited for greater opportunity on their potential returns from holding Sterling.

A rate rise would put the UK’s benchmark interest rate at 0.5%, compared to the Eurozone’s which is at a paltry 0.05% – this is why Euro buyers were the main beneficiaries off the back of the news compared to other currencies.

So what next?

Frankly, there is little else to focus on this month apart from the triggering of Article 50, but markets are worried about the setting in which it is enacted. Will the Scottish Parliament formally request another Referendum as a result? This is the key question which has dogged Sterling in the Past week.

As such with forecasts heavily dependant on an evolving landscape, it is key to have contact with a broker established ahead of time to avoid missing out in these situations – whether opportunities or sudden-drops.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on jjp@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.

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

What impact could Article 50 have on Sterling? (Tom Holian)

There are a lot of mixed opinions as to what could happen to Pound Euro exchange rates in the weeks ahead once Article 50 has finally been triggered.

As yet no formal date has been announced so we still do not know exactly when this will happen. However, according to Brexit secretary David David it will happen before the end of the month.

With Royal Assent having now been granted then the UK government could trigger it any day now so why delay?

In my opinion the government is stalling as it still does not yet know what it will do when formal negotiations start.

What is for sure is that 2 years of uncertainty will be facing the UK and if negotiations get off to a bad start then we could see huge problems ahead for the Pound.

When you look at what happened immediately following the Brexit vote back in June last year the Pound saw its biggest single daily loss in history against the Euro as well as against all other major currencies.

The uncertainty caused by what happened had a huge negative effect on Sterling exchange rates.

This time round things are likely to be slightly different however I do expect to see a huge amount of volatility coming in the direction for Sterling.

It has never been more important to be prepared for such uncertainty on GBPEUR exchange rates so if you would like further information about how I can save you money compared to using a bank when converting Euros then contact me directly.

Having seen what happened with Brexit last year anything could happen in the next fortnight. 

If you would like a free quote then contact me directly with a brief outline of what you need to do including the volume and timescale involved and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

GBP EUR Gains after Bank of England Hint Towards a Rate Increase (James Lovick)

The pound has seen another good day making gains against the Euro for the second day running. GBP EUR has now broken through 1.15 which has presented those clients buying Euros with a small improvement in rates in what is an extremely volatile and uncertain period.

The pound has been supported after one of the members of the nine strong Monetary Policy Committee at the Bank of England voted for an interest rate hike yesterday. The markets were quick to react with the pound strengthening across all of the major currencies as it is clear that noises are being made that rates will have to rise at some stage. The minutes of the meeting showed some of the other members were also considering voting for a hike soon. UK unemployment has also fallen to 4.7% also boosting the outlook for the UK and hence the pound.

Next week is likely to see even more volatility for sterling Euro rates with developments likely to come from the Scottish Nationalist Party. The second Scottish referendum is becoming a real issue for the United Kingdom and the pound is likely to remain under pressure if the Scottish parliament vote with a majority in favour of another referendum. This could really throw the cat amongst the pigeons although a retreat from Nicola Sturgeon should not be discounted either.

Conversely if there is not enough support within the Scottish Parliament, although less likely, then the pound could make some good gains. I think the Scotland story has further to go and there is likely to be more volatility and potential further weakness. Politicians will inevitably be out in force over the weekend so any political developments could impact on rates.

If you would like further information on sterling or Euro exchange rates or any of the major currencies 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

Pound to Euro rate drops in wake in Dutch election results, where to next for GBP/EUR? (Joseph Wright)

The Pound has continued to lose value against the Euro throughout the month, and despite making a few fight-backs the currency is now lodged below the 1.15 mark at the mid-market level.

Late last night it was announced that Dutch Prime Minister Mark Rutte won the most seats in the parliamentary election, and defeated far-right hopeful Gert Wilders who was predicted to put in a strong performance. Had Wilders of won more seats or put in a stronger performance I would have expected to see the Euro lose value on fears of his plans to remove the Netherlands from the EU, but the win for the current Prime Minister has eased these fears which has strengthened the Euro further.

The Euro had been boosted recently after the European Central Bank recently confirmed that they will be tapering the current quantitative easing programme due to signs of the economy improving.

Moving forward I think we could see the Euro gain even further as the Brexit begins, particularly if it becomes public that trade negotiations are going badly.

Later today there will be an interest rate decision from the Bank of England, and although no changes are expected it will be interesting to see what governor Mark Carney has to say regarding the UK economy.

If you are planning to make a currency exchange involving the Pound and the Euro, it’s well 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.

Dutch Election could weaken the Euro (Daniel Johnson)

If  Wilders gains power it could mean big trouble for the EU

The Dutch general election is upon us and Geert Wilders, the head of the far-right, Party of Freedom is currently in the lead. Wilders has stated he will close mosques, ban the Koran and leave the EU. We have seen his popularity gain momentum following clashes in the Netherlands with the Turkish who have been denied the right to protest about constitutional changes. He has since dropped four seats.

Although Wilders currently leads in the election, with twenty-eight parties in the election it is common place that a coalition is needed. Due to his radical stance on immigration other parties are reluctant to join Wilders, however could party leaders change their mind when the opportunity to gain power becomes available.

If Wilders does get in, a referendum is on the cards, we have already witnessed the damage a referendum can bring on a currency taking Sterling as an example. I would expect the Euro to weaken substantially should Wilders gain power.

US Interest Rate Decision

Today will see the Federal Reserve US interest rate decision. It is widely anticipated there will be a raise in rates. Odds currently at 90% the hike will occur. The market moves on rumour as well as fact so I am of the opinion the hike is already factored into current rates. I would not expect huge gains for the Dollar. It would be a shock however if rates remained unchanged, if this were the outcome the dollar could weaken substantially.

EUR/USD is the most frequently traded currency pair in the world, if there is an exodus from the Euro once a hike is confirmed we could see an opportunity for Euro buyers.

If you have a currency requirement I will be happy to assist. It is vital to be in touch with an experienced broker during such volatile times. I will provide a free, no obligation trading strategy and also demonstrate the rates I can achieve. I can provide a comparison against your current provider if required. I can be contacted at dcj@currencies.co.uk.

 

GBP EUR Crashes After Scottish Nationalist Party Seeks Another Referendum on Independence (James Lovick)

After an excellent day for the pound yesterday following events in the House of Commons sterling has fallen sharply this morning. The pound had been supported in anticipation that the Brexit bill would go through without amendment which would allow UK Prime Minister Theresa May to stick with her Brexit timetable and invoke Article 50 by the end of March.

However the announcement yesterday from Scottish Nationalist Party Nicola Sturgeon that she will now formally request a second referendum on independence for Scotland at this crucial time with regards Brexit has taken the shine off sterling. This week really couldn’t see more happening in terms of both the political and economic developments.
Those clients either buying or selling Euros would be wise to get in touch as the news is changing by the hour which is also having a direct bearing on the rates of exchange. There are currently some excellent trading prices becoming available for those clients needing to sell Euros.

GBP EUR has fallen below 1.14 this morning with rates down over 0.5%. Tomorrow sees the Dutch elections and depending on how well Geert Wilders far right party performs will determine the direction of the Euro going forward into these coming months. There is likely to be intense volatility following the release and if he does well or even manage to form a government then my view is that the Euro would likely weaken. The real focus from all of this is what happens in the French elections and how much support is out there for Marine Le Pen.

Thursday is also of paramount importance with the Bank of England meeting where interest rates will be discussed. With inflation rising the pound if anything is likely to see a small boost from any comments from Mark Carney although gains are likely to be limited considering interest rates are unlikely to be going up any time soon!

If you would like further information on sterling Euro exchange rates or any of the major currencies 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

Will GBPEUR continue to fall? (Dayle Littlejohn)

It’s been a terrible month for Euro buyers and I am far from surprised. GBPEUR exchange rates have dropped over 4% since the start of the month and therefore central levels have breached 1.14s. To put this into monetary terms a €200,000 purchase is now £7,500 more expensive.

If you are a regular reader for weeks I have been stating that March would be a tough month for the pound as UK Prime Minister is set to trigger Article50 at some point. It was reported towards the end of last week that MPs within the House of Commons will debate the House of Lords amendments and Theresa May could trigger Article50 as early as next Tuesday.

For euro buyers I expect rates of exchange to continue to slide this week therefore if you are needing to purchase I would recommend sending my your requirements today and I will give you a call first thing Monday morning to disucss your transfer drl@currencies.co.uk.

In other news the Bank of England are set to release their latest interest rate decision Thursday afternoon. No surprises are expected therefore rates should remain unchanged. However as always when Governor Mark Carney addresses the public expect volatility as he will discuss how Brexit is impacting the Bank of England’s monetary policy.

For euro seller we are closing in to the fantastic rates of exchange that we saw last October and when Theresa May triggers Article50 it is very difficult to predict how the pound will perform in the upcoming months therefore I would take advantage of the gains you would have made this month.

If you reading this website for the first time as you need to convert GBPEUR, 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 my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 Monday morning and ask to be put through to Dayle Littlejohn.

If you are already using a brokerage and would like to a free quote 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.