Queens speech vote to influence GBPEUR exchange rates (Dayle Littlejohn)

As Theresa May failed to win the General Election by a majority the Conservative Prime Minister has been in negotiations with the Democratic  Unionist Party (DUP) and a minority Government has been formed. Members of Parliament will have the final vote on the minority Government later this afternoon.

For Jeremy Corbyn to win and effectively vote down the queens speech members of the conservative party will have to vote against Theresa May and I just cant see this happening. Therefore I expect the minority government to be officially formed by the end of the week which could lead to further sterling strength against the Euro and exchange rates to drift towards the mid teen territory.

Looking further ahead Theresa May’s position as Prime Minister will continue to be scrutinised and I wouldn’t be surprised to see the PM resign in the upcoming 6 months. This view is supported by American Financial Service City Group as they informed all of their clients that they expect Theresa May will resign in the upcoming months due to a Conservative rebellion. If she did resign the new Prime Minister could call another General Election which would weigh down on the pound further.

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! **

Mark Carney Delivers Boost For Sterling (Ben Fletcher)

The GBP/EUR rate touched 1.14 after a 1.5 cent boost as Mark Carney delivered hope of an interest rate hike this year. The Bank of England two weeks ago voted 5-3 in favour of holding rates but it was the first time in 7 years that 3 voted for a hike. With inflation on the charge then the bank could be forced into making a decision soon.

Governor Mark Carney also stressed that he would have no choice but to consider tapering back the current economic stimulus. The bank currently purchase billions of pounds worth of bonds through quanitivativ easing and there’s hope this may slow down. This will be seen a positive for the UK economy and could have a significant effect on Sterling.

What today’s events go to show is how fast the currency markets can move. There has been enormous pressure on Sterling following the UK election and general uncertainty with the Brexit negotiations. This led to Sterling falling to the low 1.12’s this morning, however in the space of 4 hours the rate jumped 1% into the 1.14’s

How can you capitalise on movements?

The speed of the market movement today signifies how hard it can be to make sure you exchange currency at the correct time. Working for a brokerage I am able to help you set rate alerts as notifications. Furthermore set a limit order that means your currency could be automatically bought at your desired level even if the market only reaches the level for a few seconds.

Over the next few days I think it will be unlikely that sterling will find to much more support, however if there was to be a jump into the mid 1.14’s that would see the market at a 2 week high. If you do have a currency requirement and would like to ask any questions about the information above, please don’t hesitate to send me an email at brf@currencies.co.uk.

A stable government is needed for a Pound rally (Daniel Johnson)

Theresa May’s position has now been brought into question following her call for a snap election and the aftermath. Her decision to call an election when the opposition seemed so weak back fired when the conservatives failed to win a majority victory. Attacking tory core voters was deemed a poor move by senior conservative members. The PM’s stance on Brexit is causing much unrest, with the DUP now in place alongside the conservatives it has been rumored we could be moving towards a softer Brexit. If her stance changes she could be ousted from her position, This could well cause further political uncertainty and could cause the pound to weaken further as investors lose confidence.

For Sterling to rally it is vital a stable government is in place.

Keep a close eye on Brexit negotiations as they unfold this will be key to GBP/EUR buoyancy levels moving forward. The magnitude of these talks should not be underestimated, they are the most important talks for Britain in the last 50 years. Many have the opinion these negotiations could take far longer than the two year target. I think this could well be the case when you take into account the quickest negotiation for the US and another country took four years.

It is important to take into account if that if Brussels choose to play hard ball it could be detrimental to all those involved. Britain is one of the largest economies in Europe, the cost to other countries would be substantial if trade laws become problematic. Germany would be particularly effected when you look at the amount exports to the UK. The car industry would definitely be an area hit.This could cause negotiations to go through more quickly than anticipated, although the two year target still seems unrealistic.

If you have a currency requirement I will be happy to assist. If you let me know the details of your trade I will endeavor to produce a trading strategy to suit your needs. If you have a current provider I will be happy to perform a comparison and I am confident I can demonstrate a considerable saving. It will only take a few minutes and could potentially save you thousands. I can be contacted at dcj@currencies.co.uk. Thank you for reading.

GBP EUR Falls After Mario Draghi Statement (James Lovick)

The pound has fallen sharply against the Euro today with rates falling to a low of 1.1281. Bank of England governor Mark Carney spoke earlier today although it was European Central Bank President Mario Draghi’s comments which stole the headlines. We will hear more from Mark Carney tomorrow which could result in some market reaction for the pound.

An upbeat speech from Mario Draghi however helped strengthen the Euro and his comments were very EU friendly. This is a taste of what he said “Political winds are becoming tailwinds. There is newfound confidence in the reform process and newfound support for European cohesion, which could help unleash pent-up demand and investment. The positive rhetoric helped see the Euro rally in afternoon trading and could see further gains going forward.

Thursday sees consumer and industrial confidence in the EU which could help drive the Euro higher on a positive outlook. However it is Thursday that sees the vote in the House of Commons which could see major volatility for sterling Euro exchange rates. Clients looking to buy Euros would be wise to get in touch to consider your options as there could be some welcome opportunities made available.

News that Scottish Nationalist Party leader Nicola Sturgeon has shelved another independence referendum has helped support the pound but this was not seen against the Euro.

Friday however sees key UK Gross Domestic Product figures which have the potential to cause a stir at the end of the week. Any weakening could see GBP EUR fall further.

If you would like further information on Canadian dollar 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

Very important week for GBPEUR exchanges! Both Draghi and Carney to speak!

Clients looking to buy Euros with pounds have been treading on pretty precarious ground as the market continues to fret about the political make up of the UK in the coming months and years. Theresa May’s deal with the Democratic Unionist Party (DUP) did little to spark interest in the pound and with the all important commons vote on the Queen’s speech this week sterling should remain at the whim of political developments. I expect the pound could move in either direction with the Euro as much as 2  cents in the coming week depending on a series of important data and events that are taking place.

If you need to move any currency around then making plans in advance is sensible to avoid being caught out like many have in recent weeks as markets take an unexpected turn! We offer a proactive service to help monitor and track exchange rates with a view helping secure the very best levels. If you have a transfer to make and wish for us some assistance please do contact me to find out more.

There is a light belief the Bank of England are making plans to raise interest rates however with the Governor Mark Carney against the idea we could have quite a battle on for that to become reality. We will really need to see some big shifts in the economic data but should we start to see the economic data improving the case for a rate hike will increase. For the Euro the week is fairly light on data but we do have Mario Draghi speaking who with his comments could easily move the Euro rates.

A higher interest rate makes a currency stronger as it attracts investment into that currency. The mere mention of a hike or speculation of one can do lots to a currency and the back and forth nature of commentary over raising UK interest rates lately has seen sterling to Euro rates see-sawing with the sentiment. Both Carney and Draghi’s comments have the potential to move exchange rates and clients looking to buy or sell large volumes of pounds and euros for say an overseas property purchase or business should be prepared.

This week is another potential choppy one with a host of speakers who will be commenting on the potential for interest rates with Mark Carney due to speak today and tomorrow. Markets will be eagerly awaiting any news on how the Governor is viewing events with his Financial Stability report due today. If you have a transfer buying or selling pounds for Euros I would not be surprised to see movements of 1 – 2 cents as we learn principally of developments in UK politics and economics.

If you have a transaction to consider and wish to get any information on the market or trends then please do speak to me Jonathan Watson by emailing jmw@currencies.co.uk to get the latest insight and assistance with the timing and planning of your exchanges.

 

Tories and the DUP form an alliance and the impact on Sterling Euro rates (Tom Holian)

After much deliberating the Tories and the Democratic Unionist Party have finally formed an alliance which allows the Tories to operate as a majority government.

This has done little to affect GBPEUR exchange rates and it could be argued that it was priced in. With only days to go before the Queen’s Speech is voted on it will now be approved in the House of Commons unless we see a big surprise.

This could help the Pound make some small gains but the real issue surrounding the UK economy is that of Brexit and we are just one week in to the discussions so far. Theresa May has set out her proposal for EU citizens living in the UK post-Brexit and has announced plans to put their ‘anxiety at rest.’

Theresa May also wants to provide assurances to those not only living in the UK but wants to aim for reciprocal rights for those living in Europe.

The good news is that if you’re in the process of looking at selling Euros to buy Pounds the uncertainty that is being caused by the Brexit talks is causing the Pound vs Euro rate to fall to its lowest level seen since November.

Therefore, if you’re selling Euros it may be worth taking advantage of this uncertain period for the UK economy. Call me directly for a free quote or to compare rates on 01494-787478.

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

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

Tom Holian teh@currencies.co.uk

 

 

Brexit talks and the impact on Pound Euro exchange rates (Tom Holian)

We are now a year on since the Brexit vote when the British public voted to leave the European Union and during this time we have seen huge losses for the Pound against the Euro.

As yet we are no clearer as to whether the UK will opt for a soft or a hard Brexit. Clearly in the interests of the UK and the Pound a soft Brexit would be preferred but this could take a very long time from coming to fruition.

Yesterday, Theresa May was in Brussels speaking about the subject of Brexit and she has suggested that the UK will maintain the rights of EU nationals living in the UK of which there are over 3 million.

The issue though is that the EU has not yet discussed a reciprocal arrangement and that is why the Pound has had a difficult end to the week.

As yet the Tories have still yet to from an alliance with the DUP which is necessary in order to form a majority government.

I think we are only a few days from this happening and when it does take place I expect the Pound to rise against the Euro but I think the gains will be short lived so if you need to buy Euros keep a close eye on the political situation in the UK.

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. I have worked for one of the UK’s leading currency brokers since 2003 and I’m confident of being able to offer you better rates when buying currency as well as helping you with various contract types.

Tom Holian teh@currencies.co.uk

Sterling rises as negotiations begin, but will the Pound to Euro rate continue to climb as they continue? (Joseph Wright)

The Pound has edged up today against the Euro as well as against other major currency pairs, making the buying of oversea’s currencies a cheaper proposition than yesterday.

The reason behind the positive movements for the Pound can be put down to the latest updates regarding the Brexit process. It appears that the early stages of the Brexit negotiations are going quite well, which has boosted sentiment surrounding the UK economy moving forward and therefore the Pounds value.

I think that moving forward if the negotiations continue to go relatively smoothly, we can expect to see the Pound begin its recovery from its current levels, especially when when consider how the Pound is trading around historical lows against many currency pairs at the moment.

Against the Euro Sterling has lost around 5 cents over the past month or so, so there’s certainty scope for the currency to gain if things go to plan.

Next week Friday is likely to be once of the busiest days for GBPEUR as GDP data for the UK will be released around 9.30am. The expectations are for 2% annual growth so we’ll see how the currency performs in the wake of the news.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

GBP/EUR Forecast – The Referendum Result a Year On (Matthew Vassallo)

A year ago today, the UK public voted to leave the European Union.

The result of this historic vote has been dissected and discussed ever since but are we any clearer as to what it really means to be ‘OUT’ of the EU?

What we do know is that since that day Sterling has struggled to gain sustained market support, with investors questioning how the UK economy will fare over the coming years.

This uncertainty has sapped investor confidence in the UK economy and the Pound has suffered as a result. GBP/EUR have not broken through 1.20 in the past 12 months, with the current levels of around 1.14 becoming a far fairer reflection of the current value on the pair.

Whilst the current cloud of uncertainty means that long-term predictions are becoming almost futile but what I have been advocating to my clients is that they look to protect their positions wherever possible and look for short-term market spikes.

Investors remain extremely sceptical regarding the upcoming Brexit negotiations, with the negative focus seemingly shifting further towards the UK’s side and away from the EU.

Let’s not forget that the EU are losing an integral member of the single member state, with the ramifications of this as yet, remaining unclear.

We also need to consider the current political vacuum, created by the shock general election results. The Pound is struggling against a divided government and a divided country and until we have a clear economic plan in place to move the UK economy forward, I feel that the Pound will continue in its struggle to make any major inroads.

Whilst this is likely to handicap any major advances for Sterling, EU sellers would be wise to take advantage of the current window of opportunity and remove any on-going risk from this most unstable of markets.

Now is the time to contact a personal currency broker and here I can help guide you through this turbulent market. I assist my clients with the timing of their currency transfers, to ensure that any market value is maximised.

We can offer award winning exchange rates & service, which surpass any of our competitors.

Please feel free to contact me if you would like to be kept up to date with all the latest market movements, or simply wish to compare our rates to those of your current provider.

I am available on 0044 1494 725 353 between 08.30-18.00 and just ask one for the team for Matthew. Alternatively, I can be emailed directly on mtv@currencies.co.uk

How far could the pound fall against the euro (Dayle Littlejohn)

Over the last 8 weeks GBPEUR exchange rates have dropped 6 1/4 cents (5.5%) making a €200,000 purchase £9,250 more expensive.  

The pound has been declining due to Theresa May not winning the UK General election by a majority which has weakened her position as Prime Minister and also her power when negotiating Brexit. This week Brexit negotiations have begun and the PM has already backed tracked and gave the upper hand to the EU by confirming the divorce settlement will have to be decided before trade negotiations begin.

The Bank of England have also been making headline news. Three members of the monetary policy committee surprised the market by voting in favour of hiking interest rates but less than a week later Governor of the Bank of England Mark Carney talked down the MPCs decision confirming the Bank of England are not in the position to raise rates.

Looking further ahead I believe the pound could fall further against the euro due to Theresa May remaining under pressure as Prime Minister and Brexit negotiations. It was only 8 months ago when GBPEUR dropped below 1.10 so the scope is there. For euro buyers purchasing sooner rather than later is the safe option. The currency company I work for has the power to undercut any bank or brokerage therefore I would recommend emailing me for a quote drl@currencies.co.uk.

For euro sellers timing is everything. On a daily basis I help clients that have sold property in Europe and are repatriating their euros. With regular market information my clients make informed decisions of when to trade. If you are selling or have sold a property abroad and would like to make the most amount of sterling possible feel free to email me with a brief description and I will respond with the process of using our brokerage drl@currencies.co.uk.

 

Sterling Gains Recced as Afternoon Unfolds (Ben Fletcher)

The GBP/EUR rate begun to recced after reaching a high of 1.14. The boost today came after comments from Bank of England Monetary Policy Committee member Andy Haldane who suggested he will vote for a rate hike later in the year. Haldane is the Bank of England Chief Economist and is considered a key influencer for the group. His comments come a day after Governor Mark Carney announced he doesn’t see a need to start raising rates interest rates just yet.

What the movement today shows is that even a small statement can have major market effects. There was a whole cent difference between the high and the low which on a £100,000 could make you an extra €1000. When the currency markets are this volatile a brokerage can help to protect your interest in the market alerting you to the latest movements.

Quiet end to the week for UK Data

There are no major data releases for the UK for the rest of the week, however do not think that will mean a quiet market. Another Member of the Monetary Policy Committee Kristin Forbes will speak on Friday afternoon which could once again create volatility. Forbes will now be replaced having completed her term on the committee by Silvana Tenreyro. Forbes was considered a hawkish member of the committee and Tenreyro is thought to have more controlled opinions on economic policy.

The chances of an interest hike in the UK within the next few months is unlikely in my opinion. However if inflation continues to rise at the rate it has through the start of 2017 the decision may become forced.

Working for an established brokerage I am able to help you complete any transfers, by offering the best exchange rates. More importantly by fully discussing your requirements and how upcoming events could have an effect on your plans, it could protect you from any market movements. If you do have any questions please don’t hesitate to contact me at brf@currencies.co.uk

Queen’s Speech set to cause swings on GBP/EUR (Daniel Johnson)

Could a firm Government cause a Pound rally

Today at 11.30am we will see the state opening of parliament and the Queen’s speech. This had been delayed as the conservatives and the DUP attempt to put a coalition deal together. There has been rumors the negotiations have been problematic with the DUP stating conservative negotiators have been poor. Let us hope this is not a sign of things  to come considering Brexit negotiations have just begun.

Political uncertainty historically weakens the currency in question and the current situation is a clear demonstration of what a country without a government does to the value of the currency in question. There is also in house troubles within the Tory party with senior conservative members giving eight days for Theresa May to prove her credential as PM or risk a leadership challenge. If her stance is changed on hard Brexit we could well see this occur. This could happen as the DUP wish to have a soft border between Northern Ireland and Southern Ireland, this would go against May’s plans for a hard borders which would be a feature in a hard Brexit. We are currently in political limbo and many are expecting Sterling to rise in value once we have a government in place. Although this is definitely a probable outcome I am of the opinion a conservative-DUP government is already factored into current exchange rates. The big market mover will be which course of action the government will take in regards to a hard or soft Brexit.

If you have a currency requirement and would like the assistance of a skilled broker feel free to get in touch. If you let me the details of your trade I will endeavor to produce a free, individual trading strategy. I can be contacted at dcj@currencies.co.uk. (Daniel Johnson)

GBP EUR Before Queens Speech on Wednesday (James Lovick)

Sterling Euro exchange rates have come under renewed pressure today after comments this morning from the Bank of England governor Mark Carney. He suggested that he was not overly concerned by the rising level of inflation and that interest rates would remain low for some time. This resulted in an immediate fall in the price of sterling as those expectations of when the first interest rate hike for year are put back once again.

The pound has fallen by 0.75% against the Euro today with rates for GBP EUR having reached a low of 1.1345 this afternoon which has created an excellent opportunity for those clients looking to sell Euros. For anyone selling Euros the combination of all the recent political uncertainty and the start of the Brexit negotiations has resulted in a weaker pound.

Another speech tomorrow morning from another Monetary Policy Committee member Andy Haldane could see additional volatility for the pound. EU Purchasing Managers Index data for the manufacturing and services sectors could help boost the Euro further.

Queens Speech – Impact on Sterling

The Queens speech on Wednesday has the potential to see some political fireworks with the pound reacting according. Any attempt by Jeremy Corbyn to vote down the Queens speech could see the pound react badly with sterling weakness to be expected. However my view is that once an agreement has been made between the Democratic Unionist Party (DUP) and the Conservative party then this should be seen as welcome news for the British economy and the pound should rally on the back of the news.

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

How do I get the best GBPEUR rates for my international transfer?

The pound to Euro rate will this week generally remain at the mercy of the latest news on Brexit negotiations. So far we have heard that the Brexit Bill and the discussion of rights of EU nationals were top of the list to settle. Talks have opened amicably so far and there has been no major movement on the rates just yet. These pieces of news will be come out from time to time and should be carefully monitored for clients looking to transfer large volumes of pounds or Euros internationally looking for the best rates of exchange or optimum times to trade. For example clients looking to buy or sell overseas property or businesses making payments to foreign suppliers.

With these talks scheduled to carry on over various sessions there is plenty of potential for something unexpected to come out of the talks which could catch the headlines and trigger some volatility on GBPEUR exchange rates. The pound is looking like it could easily rise higher if there is a belief a softer Brexit will be achieved, if it looks like talks a running into difficulty we could easily see the pound drop lower.

If you have a currency exchange to make then making plans in advance is always a smart way to try and avoid the volatility on the markets. We can help with the timing, planning and execution of any currency deals you will need in the future. The general impression for the pound is that we will see some unexpected swings as we learn of firmer details of the Brexit talks but these could be sudden and unexpected.

We offer a proactive service to keep our clients up to date with the market and to help try and target a better deal. Exchange rates change very quickly creating spikes which for a a few minutes may present savings of hundreds or thousands of pounds depending on how you need to do or how big the movement is.

If you wish to learn more about the market and all of your options then please do not hesitate to contact me Jonathan directly to discuss how we can offer the kind of support that really does help lead you to a position to get the best rates. Please email me Jonathan Watson on jmw@currencies.co.uk to learn more.

Brexit talks begin and the impact for Pound Euro exchange rates (Tom Holian)

The Brexit negotiations have now finally begun after the triggering of Article 50 many weeks ago. We are also almost one year on from the vote to leave the European Union which caused the Pound to plummet by almost 15 cents and as yet it is still not clear whether the UK will opt for a hard or a soft Brexit.

As yet the Conservatives have failed to reach an agreement with the DUP but to me this is just a matter of time. The importance of this arrangement could be key to the Brexit talks as the Irish border is clearly an enormous issue so it could be argued that the DUP could be integral for a softer Brexit.

It is going to take months before a clear picture as to how Brexit will pan out but in the short term I would be surprised to see this have any positive effect when it comes to Sterling vs the Euro.

My reasoning is that there are 27 member states that want to keep the European Union together compared to just the UK so for me I think the talks will be rather difficult as well as protracted which surely cannot help the Pound vs the Euro.

Therefore, if you are looking to buy Euros it may be worth organising this in the short term.

 

Having worked in the foreign exchange markets since 2003 for one of the UK’s leading currency brokers I am confident not only of being able to offer you better exchange rates compared to using your own bank but also help you with the timing of your transfer of currency.

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

Tom Holian teh@currencies.co.uk

Pound to Euro exchange rates set for marginal fall and strong rise next week (Joshua Privett)

When entering the latter part of the month, economics takes a back seat, and as such the rollercoaster of politics will be at the forefront in governing Pound to Euro rates this week.

We begin with the French local elections, the final part of the French election cycle. This will decide whether the new President, Emmanuel Macron, has the majority he needs to govern effectively.

He is proposing a sweeping change to French labour laws and a host of new pro-business policies. This is why his initial election victory saw the Euro gain almost two cents against Sterling. Should a Parliamentary majority form, then it’s likely we will see further Euro strength given his ability to govern effectively will be cemented. Well, as much as French unions will permit.

In any case, polling is today and the result itself should see further Euro strength when markets re-open tomorrow.

However, the UK is also trying to consolidate political stability. There was a delayed announcement for the Conservative-DUP partnership last week, but the initial hints were enough to see the Pound flirst upwards agains the Euro. Confirmation should realise those hinted gains for Euro buyers.

Then their plans for a Government manifesto will have to be voted on in Parliament given that the Conservatives do not have the majority they need to rule as a single party. Furthermore markets are waiting to hear further news on whether a softer Brexit approach will be taken.

Euro sellers may be wise to seize any opportunities created by the French election result tomorrow. Conversely anyone with a GBP/EUR requirement should be monitoring political developments next week in order to give yourself the best opportunity to puchase at any peaks which emerge rather than a trough.

I strongly recommend that anyone with a Euro buying or selling requirement should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer. 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.

Will the Brexit negotiations cause problems for the Pound? (Tom Holian)

Sterling against the Euro has been struggling recently owing to what is happening politically and at the time of writing this article the Tories have yet to form an agreement with the DUP. Indeed, when the government had to form a coalition previously it took 20 days to organise.

As we go into next week the Brexit negotiations will start which is almost 12 months to the day since the vote to leave the European Union.

As there is no current majority government there has been no confirmation whether the UK will opt for a hard or a soft Brexit and until this issue is sorted I think the Pound will struggle against the Euro.

We saw a brief recovery in GBPEUR exchange rates on Thursday when the Bank of England confirmed a 5-3 split in favour of keeping interest rates on hold.  This surprise revelation helped to provide the Pound with some small gains vs the single currency but to me I think the gains will be short lived.

Therefore, if you need to send money to Europe it may be worth taking advantage of the current rates. If you don’t have the full amount of money available at the moment 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 I am confident not only of being able to offer you better exchange rates compared to using your own bank but also help you with the timing of your transfer of currency.

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

Tom Holian teh@currencies.co.uk

Sterling rises after Bank of England hints at a rate hike (Joseph Wright)

The Pound appears to have consolidated above 1.14 against the Euro, making the buying Euro rate cheaper for those holding Sterling.

There are current 8 voting members of the BoE and yesterday almost half of them voted in favour of hiking rates, which caused the Pound to jump by over half a cent as soon as the news broke around lunchtime.

The reason behind the Bank of England’s voting members that would like to see a hike is most likely the rising rate of inflation in the UK, which is eating into consumers spending power as wage growth is beginning to stall within the UK.

Raising the interest rate would act to lessen the blow and it’s also a positive for the Pound so I do think we can expect to see the Pound climb if rates are going to rise for the first time in a decade.

Later this morning the Bank of England’s Quarterly Bulletin will be released which could send the markets either way depending on what’s said. If you would like to be kept updated with data releases that can impact your upcoming currency exchange plans do feel free to get in touch.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

GBPEUR rises due to Bank of England (Dayle Littlejohn)

Earlier in the week UK inflation numbers rose to 2.9%, 0.9% above the Bank of England’s target which gave support for the pound and all eyes turned to today’s Bank of England’s interest rate decision.

Each month members of the Bank of England (8 to be precise), vote to decide whether to hike, keep on hold or cut. This afternoon 3 members voted in favour of raising interest rates which surprised the market and GBPEUR exchange rates increased over a cent and therefore made back some of the losses from the shock UK general election decision. Looking further ahead if inflation levels continue to rise over the next 2 quarters I wouldn’t be surprised to see the Bank of England act.

Its a quiet day for economic data that will have a major impact on GBPEUR exchange rates tomorrow. It has been reported that Brexit negotiations will begin Monday morning which surprises me as Theresa May has not formed a government as of yet. Could this happen tomorrow? Once the government is formed I believe this will provide further strength for the pound and GBPEUR exchange rates will start to rise towards 1.15.

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! **

Will the pound to Euro rate continue to rise?

The pound to Euro rate will continue its volatility in the coming weeks as we get closer to understanding just what type of Government the UK will have in the future. Overall expectations for the future remain unclear as we try to understand what Brexit means and what type of  government the UK will have in the future. It appears a ‘hard Brexit’ is now less likely but with 80% of voters having voted for parties who remain committed to Brexit just what will the future entail? With such uncertainty hanging over the market and the pound the GBPEUR rate does seem very much poised to languish at these lower levels, a move further down cannot be ruled out.

Today is the UK Bank of England decision which could well see some volatility on exchange rates, the general belief we would see UK interest rates rising has been fading and concerns are now rising about the problems in the UK economy form Brexit, the outcome from all of this for the pound is no longer a question. The reality is that the economic conditions in the UK are not meeting expectation and we could be well in line for further falls in the value of the pound.

If you have a transfer to make in the future the outlook on the exchange rate is not looking great for Euro buyers. Euro sellers are now looking at much improved conditions and the market could easily favour further improvements. If you have a transfer to make selling Euros for pounds then the current market should not be taken too much for granted.

For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk. I can  provide some insight and information regarding your situation and am very confident I can offer a rate which will save you money.

Thank you for reading and I look forward to hearing from you.