Finally some restbite for the Pound, and will it continue? (Joseph Wright)

Demand for the Pound has been in short supply recently as a number of brexit fears have resurfaced.

Since the disappointing inflation figure at the beginning of last week and then Boris Johnson subsequently suggesting that Article 50 may be invoked early next year, the Pound has been under pressure and we’ve seen it hitting levels levels very close to it’s 52 year low (1.1456) which is also it’s 3 year low.

Today has been the first day in a while where we’ve seen the Pound perform strongly, with the GBP/EUR exchange rate hitting a high of 1.1614. These gains are being put down to a number of positives for the Pound that that emerged over the past 24-48 hours.

One of the leading German banks, Deutsche Bank, is coming under increasing pressure at the moment as news of significant bad debt is surfacing. This coupled with the World Trade Organisation (WTO) announcing that they expect the UK to avoid a post-referendum recession has given the UK a real boost and today we’ve seen the Pound gain by almost a 1% vs the Euro.

Moving forward I’m expecting the Pound to come under pressure once again, and I think that those that took advantage of today’s spike have done well. Contacting our clients when there are positive spikes for the Pound is a service we provide so feel free to get in touch if you would like to take advantage of this free service.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me (Joseph Wright) directly on jxw@currencies.co.uk and I will be more than happy to contact you personally to discuss the various options we have available to you.

Best time to sell Euros to buy Pounds in almost 5 years (Tom Holian)

Sterling Euro exchange rates have once again felt the pressure caused by the uncertainty as to when Article 50 may be triggered.

The Pound vs the Euro has dropped by as much as 12% since the vote to leave the European Union and this represents the best time to sell Euros in almost 5 years.

Foreign Minister Boris Johnson has suggested that the UK could be getting ready to start the negotiations to leave the European Union and this has also caused Sterling to suffer against the single currency.

ECB president Mario Draghi said yesterday that the Eurozone has done well in light of the Brexit vote and the economy has proved ‘quite resilient’ which again has kept the Euro strong.

On Thursday of this week Eurozone consumer confidence is due to be published but arguably the most important data release of the week will be UK GDP for the second quarter as this will include the run up to the Brexit vote.

If we see the economic data revised lower on Friday then this could push Sterling rates even lower against the Euro possibly providing an even better level to sell Euros into Sterling.

If you are in the position of needing to buy Euros for a property purchase in the Europe before the end of the year then it may be worth looking at a forward contract which allows you to fix an exchange rate for a future date for a small deposit. This can eliminate the uncertainty of where GBPEUR rates may be in the next few months.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk Having worked in the industry since 2003 I am confident that I can help you make the process simple and cost effective.

 

 

What next for GBPEUR exchange rates?

The outlook on GBPEUR is as complicated as ever with no real progress on Brexit and no sign of a quick resolution. Political uncertainty is a huge driver on exchange rates, the current market is very much geared towards uncertainty with sterling showing little signs of improving. This week there are some data releases which could move the market, Notably today was a speech by Mario Draghi where he talked about the UK’s access to the single market, essentially he reiterated the fact the UK had to respect all four freedoms, that is the free movement of capital, services, goods and labour. That means there can be no special deal for the UK that would see it secure access to the single market whilst allowing controls on immigration.

This point plus the noise from Boris Johnson that perhaps the UK would invoke Article 50 early in the New Year has all pointed to a strong likelihood that the UK will be forced into a ‘hard Brexit’. This means there would be a quick break and the UK would literally go it alone into the world and trade. There is much pressure on the Prime Minister Theresa May to do something from the more Brexit minded politicians. Expectations and pressure is mounting, the lack of action and lack of clarity over what is happening will not last forever!

If you have a transfer GBPEUR is at a critical juncture. Now is not a time to be complacent, some of the major banks predict GBPEUR could fall to 1.08, earlier in the year HSBC was predicting parity! If you need a transfer please email me Jonathan Watson on jmw@currencies.co.uk

Best time to sell Euros into Sterling in 3 years owing to Article 50 issues (Tom Holian)

Sterling Euro exchange rates have once again started the week negatively as rumours are increasing that the UK could be getting ready to trigger Article 50 by early next year.

Foreign Minister Boris Johnson has been rather outspoken recently and he has strongly hinted that the UK could start the negotiations by early 2017. This has caused confidence in Sterling Euro exchange rates to really fall which is good news for anyone looking to sell Euros to buy Sterling.

According to a survey published by the Confederation of British Industry optimism within the UK financial sector has also fallen for the third consecutive quarter and this is also weighing heavily on Sterling exchange rates.

The impact on Sterling Euro exchange rates caused by the Brexit vote back in June was huge and the uncertainty surrounding when Article 50 may be triggered is also causing problems for Sterling against the single currency.

Indeed, only 3 weeks ago Sterling Euro rates were challenging 1.20 but since then they have moved in a negative direction.

On Friday the UK announces UK GDP data for the second quarter and as this will include the run up to the vote to leave the European Union this is also likely to move the currency markets. The current expectation is for 0.6% so any announcement of this coming out lower than expected could cause the Pound to weaken and we could even see Sterling Euro rates hit their lowest level to buy Euros since 2011.

If you are in the process of looking at buying a house in Europe and are worrying about the recent trend for the Pound you may wish to consider buying a forward contract which allows you to secure an exchange rates for the future without having full availability of the funds at the moment.

Alternatively it may be worth looking at a Stop Loss Order which means if the market drops to that level you have guaranteed that you will get an exchange rate no lower than the one you specified

If you are thinking of taking advantage of these levels to sell Euros and want to compare exchange rates then contact me directly for a free quote by either calling me directly on 01494787478 or emailing me Tom Holian teh@currrencies.co.uk Having worked in the currency markets since 2003 I am confident that I can make the process simple and stress free for you.

 

 

When to buy euros this week? (Dayle Littlejohn)

It was a poor week for the pound against the euro. GBPEUR exchange rates started the week at 1.1813 and closed at 1.1550. For euro buyers this means a €200,000 purchase is now … more expensive compared to just 7 days ago.

GBPEUR plummeted close to 1% Friday afternoon therefore I wouldn’t be surprised to see the market level itself out early Monday morning and therefore GBPEUR rates rise back into the 1.16s however this could be the best level to buy euros for the week.

President of the European Central Bank Mario Draghi is set to address the public Monday at 3pm. Of late the President has taken a bullish approach and therefore the euro has benefited.

Later in the week the UK release their latest Mortgage approvals and GDP numbers. Mortgage approvals gives a good indication the health of the Housing market. It’s reported that confidence in the UK housing market has dropped as investors want to know how the Brexit will impact the value of the property. Therefore I wouldn’t be surprised to see this data release disappoint.

Friday UK GDP numbers again could disappoint. The Office for National Statistics have reported that they feel a contraction in the service sector is just around the corner, and the service sector makes up 80% of GDP.

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! **

Will Article 50 be triggered early next year and the impact for buying Euros? (Tom Holian)

The Pound has now fallen to its lowest level to buy Euros since August 2013 as the fallout from the Brexit continues to impact upon Sterling Euro exchange rates.

According to our very own Foreign Minister Boris Johnson we could be getting ready to trigger Article 50 early next year.

Indeed, these comments combined with European Council President Donald Tusk show that the likelihood of this happening is quite strong.

This has been reflected in Sterling vs the Euro with today seeing the best opportunity to sell Euros into Sterling for three years.

In an interview with the BBC Boris Johnson claimed that ‘we are talking to our European friends and partners in the expectation that by the early part of next year you will see an Article 50 letter. We will invoke that.’

As one of the main protagonists of the Brexit campaign this announcement has caused a big stir in the foreign exchange market but coming from Johnson this should not be a huge surprise that it is his comments that have caused the Pound to plummet again.

The uncertainty caused by the vote to leave the European Union has caused Sterling to fall by over 16 cents against the single currency which is good news is you’re looking to take advantage of these current lows and sell Euros.

UK GDP figures are also due out next Friday and the data will cover the second quarter which will include the Brexit period.

Therefore, this could provide us with a true indication as to how the UK economy performed in the run up to the vote and is likely again to cause big movements for Sterling vs the Euro.

If you are thinking about buying Euros and are worried about the further falls then it may be worth looking at organising a Stop Loss order which means that if rates continue to drop you are able to protect yourself from further negative movement.

The other alternative is possibly a forward contract which means if you don’t have the full availability of funds but need to buy Euros in the future then this option can guarantee your price for a future date.

Having worked for a currency brokerage for 13 years I am confident not only of offering you a better exchange rate than using your bank when buying or selling Euros but also will explain the process in simple and easy to understand terms.

Email me directly Tom Holian teh@currencies.co.uk and I look forward to hearing from you

 

 

Thin trading ranges continue for GBP/EUR as Danske Bank downgrade their forecast for the pair (Joseph Wright)

Today the Sterling to Euro exchange rate has traded within a very thin range of just 54 pips up to the point of writing.

With little major economic data releases today all eyes have been on ECB President Mario Draghi’s speech along with the governor of the Bank of England’s Mark Carney’s speech as well. Neither have impacted the pair which is a reflection of the current marketplace as the Pound seems to have consolidated below 1.20 now.

Some of the major news today came in the form of a Bank downgrade as opposed to the usual economic output release. Danske Bank, a major European bank based out of Copenhagen have actually increased their price forecast for the GBP/EUR pair over the long term, yet in the short term future they expect another drop down to levels as low as 1.08’s and another interest rate cut from the BoE down to 0.1% from the current 0.5%.

We have systems in place that can help clients lock in the current rate of exchange on an amount of money they may not yet have access to, like on a property sale for example. Our client’s just simply need to send us 10% of the total value they wish to secure at the current rate, and they can then send us the outstanding amount in anytime up to 1 year.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me (Joseph Wright) directly on jxw@currencies.co.uk and I will be more than happy to contact you personally to discuss the various options we have available to you.

GBP EUR Continues Gradual Slide Lower (James Lovick)

The pound continues its recent slide against the Euro as Brexit concerns continue to give cause for concern for the British economy. After a run of generally upbeat data

Mario Draghi is making a speech today which create some volatility for the Euro whilst Deputy Governor for Financial stability Jon Cunliffe will also be speaking in in the UK. Mario Draghi’s speech is likely to be a big mover and any indications that the European Central Bank will look to extend its Quantitative Easing programme could see the Euro weaken. Mark Carney is also making a speech in Berlin this evening.

For the moment the spotlight is still firmly on the UK and the Brexit uncertainty is likely to keep the pressure on sterling for the coming months. The earliest that Article 50 will be invoked is tipped to be early 2017 so there is still a considerable journey to go before greater political and economic clarity is given. For those buying Euros there are likely to be some short term opportunities although gains should remain limited.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me James Lovick directly on jll@currencies.co.uk  and I will be more than happy to contact you personally to discuss the various options we have available to you.

Today’s BoE Report Key to Sterling Recovery (Mathhew Vassallo)

Today we have the release of the latest Quarterly Bank of England (BoE) inflation report and this is likely to be watched closely by investors. It could also play a key role in any potential Sterling recovery, as it gives the markets an overview of any future monetary policy changes and the UK’s general economic well-being.

If the BoE’s stance is bullish then it is likely Sterling could recover some of the ground it has lost against both the EUR & USD, both of which made significant gains over the past 48 hours. However, any indication that they will increase monetary stimulus (QE), which is when they pump additional funding into the economy to help stabilise it, is likely to result in further losses for the Pound and this morning rates could suddenly look extremely attractive.

Whilst it is very difficult to predict exactly how the market will evolve, it has become clear that investor confidence in the UK economy and ultimately the Pound is extremely low. Sterling positrons remain fragile and as such I would not be prepared to gamble on an improvement, when there is no tangible evidence to support it. The silver lining for those clients holding GBP is that the Pound did find a foothold at the beginning of the month and this was not anticipated or predicted. This is further proof of how unpredictable the current markets can be and how investors are reacting to rumours as much as fact and this makes forecasting increasingly difficult.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one, then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the UK, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me Matthew Vassallo directly on mtv@currencies.co.uk  and I will be more than happy to contact you personally to discuss the various options we have available to you.

Looming US interest rate decision harms Euro buyers (Joshua Privett)

Much like when many complained that Obama’s intervention in the Leave vote was unasked for, the invisible hand of American economics and largely politics are beggining to create a stir on the currency markets once more, to the detriment of many holding Sterling and who are considering buying Euros.

Once more GBP/EUR fell against the single currency today and reached 1.15 for the first time in almost a month, with most of my current customers now begging the question as to why this has happened and whether they should plan for this downfall continuing?

The answer is a complicated one but I am largely optimistic for the short-term fates of Euro buyers.

Much of the current volatility on GBP/EUR is concentrated from events in the US. They are currently waiting for the results of their most recent interest rate decision tomorrow at 7pm UK time due to the time difference. Whilst it seems strange that an event not in the Eurozone or the UK could have such a strong hold over currency rates, due to the sheer size of the US economy, and the fact that a hike would highlight the continued disparity in the value of the US Dollar compared to an increasingly feeble Pound with its lower o.25% interest rate, the stakes are very high (the Pound could essentially become the black sheep of the currency world).

However, the market is split on what may happen. The FED originally planned for four hikes this year and there have been none. Particularly with the US election coming up, and with only a few major banks (Barclays and PNB Paribas) betting on a hike, the net consensus is that a hike will not occur. This should in turn relieve some pressure on the Pound and recoup some of the recent losses on buying Euro rates since the beginning of the week.

The upturn could be sharp and there are a number of options to make sure you are not ‘last to the party’ should any favourable levels occur which you are aiming for to secure your Euros in an imminent or medium-term purchase.

I strongly recommend anyone with an upcoming Euro buying requirement shoud contact me on jjp@currencies.co.uk to discuss a strategy for your transfer to maximise your currency return and safefuard your purchase against any potential falls.

Euro sellers can also get in contact to receive a live quote given that rates have reach signficant highs in such a short period of time. You can fill out the form below and I will contact you as soon as I am available.

 

4 week high to sell Euros into Sterling (Tom Holian)

Sterling has continued to struggle against the Euro during this week as rumours from the weekend are that the UK could be getting ready to start the negotiations to leave the European Union by February 2017.

Comments made by European Council President Donald Tusk claim that in a recent discussion with Theresa May she has hinted that the UK are considering starting the process early next year.

However, it seems as though the comments have been retracted but as always there’s no smoke without fire so I think something’s going on which has caused the Pound to weaken against the Euro.

Sterling Euro rates are now at their lowest point since early August which has created a very good opportunity to sell Euros to buy Sterling.

Therefore, if you’ve sold your property in Europe recently or in the process of doing so then it may be worth looking at getting something organised at the moment to take advantage of this spike.

Tomorrow morning the UK announces Public Sector Net Borrowing and we could see some further negative movements for the Pound vs the Euro as it should come as no surprise that the government would have needed larger amounts than normal following the Brexit vote.

Combined with tomorrow’s announcement by the US Federal Reserve we could be in for a very volatile next few days for Sterling vs Euro as if the Fed decides to change monetary policy then this could cause huge movements on the currency markets.

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

I look forward to hearing from you.

 

 

 

A tough time for the UK and Eurozone (Dayle Littlejohn)

Its been reported by European Council President Donald Tusk that Brexit talks could start as early as February 2017. UK Prime Minister Theresa May is keeping her cards close to her chest and has failed to comment so far.

Looking ahead it appears that the pound is going to come under severe pressure in the next 6 months and I believe we will see a contraction within the UK economy. Since the UK left the EU GBPEUR exchange rates have dropped 14 cents making a €200,000 purchase £18,000 more expensive and there’s a chance this could get worse for euro buyers.

For euro sellers, the UK’s referendum in regards to EU membership has provided you a window of opportunity. GBPEUR has dropped 14 cents which means if you convert €200,000 now compared to June 23rd you will receive an additional £18,000!

However cracks are also appearing within the Eurozone economy. Inflation remains at a worrying low even though the European Central Bank have been injecting a substantial amount of Euros into the economy for the last 18 months. Interest rates are at 0% and if the ECB want to change monetary policy they are going to have to cut rates to negative territory.

The point I am trying to make is that both the UK and Eurozone have a rocky road ahead therefore for people buying currency its important to analyse the market on a weekly basis and trade when the market spikes in your favour.

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! **

Brexit fears cause the Pound Euro rate to fall (Tom Holian)

The Pound has ended the week falling against the Euro as rumours are that the UK could be getting ready to start the negotiations to leave the European Union by February 2017.

European Council President Donald Tusk has said that in discussions with Theresa that she suggested that the UK could be ready to begin talks by early next year.

The Brexit vote has caused huge problems for the value in Sterling exchange rates against all major currencies and just when the dust looked to have settled this month we are in for another huge period of uncertainty.

The suggestions made by Tusk have not been verified by anyone in UK government so far so at the moment they are just rumours but as they are currently making headlines there is clearly more to this story.

UK economic data has been mixed as of late and with UK inflation showing a fall to 0.6% the Bank of England could be looking at another interest rate cut by 0.1% when they next meet in November which could cause further falls for the Pound.

At the moment with the uncertainty as to when Article 50 will be triggered and with a potential interest rate cut coming for the UK things are looking negative for the Pound. Until we have any statement from the government then I expect to see the Pound continue to struggle against the single currency. Good news if you’re looking to sell Euros at the moment.

If you need to make a currency transfer and want to save money on exchange rates compared to using your own bank or another currency provider then contact me directly for a free quote. Having worked in the industry for 13 years I am confident of being able to make you a saving.

Email me directly Tom Holian teh@currencies.co.uk

 

 

 

It’s been another volatile week for investors with GBP & EUR positions, as the markets reacted to some key economic data releases for both the UK and Eurozone. The Pound had made strides against its EUR counterpart last week following a positive run of data, personified by better than expected Construction & Manufacturing figures. This helped to push GBP/EUR levels towards 1.20 on the exchange and whilst this was level was tested it was never breached. Since then the EUR has found support, with the pair now floating between 1.17-1.18 as head towards the end of the trading week.

The markets were primed yesterday as the latest Bank of England (BoE) interest rate decision was released, along with the subsequent minutes. This was preceded by UK Retail Sales figures, alongside a host of Eurozone and US inflation data released throughout the day.

Whilst the BoE decided to keep rates on hold at 0.25% as widely anticipated, it was the summary and minutes which caused the markets to shift. The BoE remained very cautious in their address and left themselves open to a further rate cut if necessary. The fact they mentioned this could come before the end of the year threw the markets into chaos and the Pound took a hit across the board as a result.

Sterling immediately lost value against the EUR and this once again proves how fragile the UK economy remains and how investor confidence remains cautious at best. For this reason, I continue to stress to any clients holding Sterling positons that they should be looking to protect themselves at every opportunity, as uncertainty breads fear and fear is likely to cause the currency in question to contract.

Whilst so much uncertainty continues to engulf the UK economy, which seems to be stuck in a relative state of limbo, the Pound will struggle to make a sustainable impart against either the EUR under current market conditions.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one, then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the UK, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me directly on mtv@currencies.co.uk and I will be more than happy to contact you personally to discuss the various options we have available to you.

Bank of England interest rate decision and the impact for Sterling Euro exchange rates (Tom Holian)

Pound Sterling has had a mixed week in terms of economic data so far and this has seen a slight drop in the value of the Pound vs the Euro.

UK inflation came out slightly lower than expected and this caused the Pound to drop. If inflation falls then typically a central bank will look at cutting interest rates in order to stop the fall.

However, even though the Bank of England cut interest rates recently following the Brexit vote I think it will be highly unlikely that we’ll see any change at today’s meeting.

The governor of the BoE Mark Carney has claimed that the central bank’s recent policy change helped to stabilise the British economy and it will be very interesting to see what happens when the minutes are released shortly after the decision at lunchtime today.

Any signs of any appetite for further interest rate cuts could see Sterling falling against the Euro so if you need to buy Euros it may be worth looking at what happens later today.

With Eurozone inflation data also published this morning we could see a huge amount of volatility for GBPEUR rates during today’s trading session.

Inflation in the Eurozone has been worryingly low and this could provide evidence that the European Central Bank’s current policy may not be having the desired effect therefore if you’d like to get something arranged today then call me directly on 01494787478 and ask for Tom Holian for a free quote.

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

 

 

GBP/EUR rate drops to just above 1.17 (Ben Fletcher)

Sterling lost more ground today as the rate simmered just above the 1.16’s after a large drop this afternoon. This morning the unemployment levels in the UK showed a decreased however many sceptics suggested it will take time for the Brexit to influence the rate and a drop is coming. There hasn’t been much overly negative data since the Referendum with only small pockets of data suggesting much has changed.

Bank of England Monetary Policy Decision

Tomorrow the BoE will once more vote on the Interest Rate. In the last meeting the committee decided to perform a rate cut for the first time in several years cutting 0.5% to 0.25%. This was also accompanied with a £435 billion asset purchasing plan. Whilst the same drama surrounding the last decision is not expected tomorrow it is still very significant. There was talk that the bank had cut the rate early after there was better than expected news at the end of August however there is no chance of the bank reversing the decision.

What does seem likely is that nothing will change with regards to the monetary and fiscal measures. However the minutes from the meeting will provide an insight into the thoughts of the committee members potentially giving hints as to the future plans.

In the past the Bank of England has done little to talk up Sterling and I would not be surprised to see further losses tomorrow. The bank has taken credit for the economy avoiding a recession since the Brexit vote and I think this point will be re-affirmed tomorrow. Undoubtedly there will be a mention that there should be patience with the economy with an emphasis on how fragile things are currently. However there will be a small amount of optimism followed begrudgingly by the bank suggesting that they have had no alternative than to make the UK economy work.

If you have a transfer and would like some further updates why not find out if I could be of assistance? Please fill in the form below or send me an email to brf@currencies.co.uk I could potentially help with information and a better rate of exchange.

Poor UK data causes Sterling to fall (Daniel Johnson)

This morning saw the release of Producer Price Index (PPI) and Consumer Price Index (CPI)data. PPI provides the changes in price in UK manufacturing. CPI is a comparison between the retail prices of a representative shopping basket of goods and services and is a key measure of inflation. Both figures were negative and the pound has fallen in value as a result.

This was a change from last months UK data which came in surprisingly above expectations. Today’s data has thrown further uncertainty on the state of the UK economy. Have we seen the true extent of the damage caused by the vote to leave the EU?

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. Should you find our information useful and you would like me to assist with your trade 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 virtually every competitors rate of exchange. You would also be looking at saving anything up to 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.

How will the Bank of England’s interest rate decision impact GBPEUR exchange rates (Dayle Littlejohn)

This Thursday the Monetary Policy Committee from the Bank of England are set to release their latest interest rate decision. The 9 voting members all voted in favour of cutting interest rates to record lows of 0.25%. Further to this a substantial quantitative easing program was announced which should help to keep the economy stimulated.

The decision itself I believe will be a non event as interest rates will be kept on hold, its Governor Mark Carney’s press conference shortly after which should cause the volatility. Its difficult to predict how the market will react to his comments. However if he states further cuts could be on the horizon expect the pound to lose further value.

Within the next 20 minutes Consumer and Producer Price index numbers are set to be released for the UK. The numbers are expected to give support for the Pound so we could see an improvement with GBPEUR exchange rates this morning.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other UK brokerages and high street banks.

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! **

GBP/EUR rates expected to be boosted in positive week for Euro buyers (Joshua Privett)

This week is expected to produce the complete opposite result to the first few weeks in August for Euro buyers with even the potential for a rise in GBP/EUR rates of exchange.

Most of the data out next week will be concentrated from the UK – last month such a statement would normally bring apprehension for anyone holding Pounds and considering buying a foreign currency, but this is expected to change.

Monday should bring a quiet start to the week, but Tuesday will change all of this. We’ll have inflation data for the German economy which has been one of the few areas where the Eurozone’s powerhouse economy has been struggling in recent months, which will hopefully dent the armour of the Euro for anyone with a GBP/EUR requirement.

Wednesday will bring a similar but more extensive look at the UK’s own economic inflation situation. Startlingly, post-Brexit vote, this area with which the UK has struggled with for almost 15 months is finally coming under control, and we are set to see the second positive month in a row now. The change has been attributed to the benefits of the summer months, the price altering effects of a cheaper Pound, and the rising oil prices.

Furthermore on Thursday, the Governor of the Bank of England, Mark Carney, will be giving a press conference following the interest rate decision. He has already given a deposition to Parliament last week which painted the UK’s ability to weather the storm of the Leave vote very well. Should he repeat this sentiment on Thursday the increasing atmosphere of greater confidence surrounding the Pound will hopefully be supplemented.

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.

You can also fill out the form below and I will be in contact as soon as I am able. As a final point I have never had an issue beating the rates of exchange offered elsewhere, and these current buying levels to be fixed in place to avoid the potential pitfalls which may emerge after this positive week for the Pound.

Will the Pound go back up past 1.20 vs the Euro next week? (Tom Holian)

The Pound has experienced a good recovery during August against the Euro after economic data published recently has shown that the Brexit didn’t have as much of a negative impact of some had suggested.

UK retail sales, manufacturing data and services have all been relatively strong showing huge gains compared to July and this has helped the Pound gain vs the Euro creating some better opportunities to buy the Euros at cheaper levels than last month.

The European Central Bank decided to keep interest rates on hold on Thursday as well as keeping the current amount of QE the same until March 2017. This briefly helped to strengthen the Euro vs Sterling but the gains were relatively short lived.

Next week the focus will return to what is happening to inflation both here and on the continent.

Since the Brexit the likelihood is that inflation will rise in the UK whilst in the Eurozone the rate of inflation is still worryingly low at just 0.2%.

The Eurozone are due to meet on Thursday and if we see the figures come out lower than expected this could put pressure on the ECB going forward as it demonstrates that the current policy is not having the desired effect.

Next week if you need to buy Euros it may be worth looking to organising this later in the week and if selling Euros then it may be worth doing this prior to Thursday’s release.

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