GBP/EUR Rates Retract Following Sterling Spike (Matthew Vassallo)

GBP/EUR rates have retracted over the early part of the trading week, with the pair falling below 1.18 on the exchange.

The Pound had made a move through 1.20 in the early hours of Monday morning, following the Italian referendum result and Italian Prime Minister Matteo Renzi’s subsequent resignation. This caused investors to panic due to the political and potential negative economic effects this would have on the Eurozone and Sterling benefited as a result.

However, this positive momentum was short lived and the EUR has fought back, proving how fragile the UK economy remains in the eyes of investors. The EUR has benefited from a strong run of economic data, including better than expected Retail Sales figures.

We also saw their Gross Domestic Product (GDP) number come it at 1.7%, better than the expected 1.6% growth. This is such  key release for an economy as it gives us a key insight into the current economic standing, as well as an insight into future growth prospects.

This combined has helped the single currency to bounce back against Sterling and with the current Supreme Court ruling on whether the UK can leave the EU without Article 50 being ratified by MP’s, expect further market uncertainty over the coming days and weeks.

Personally I wouldn’t be prepared to gamble on the current market. There are concerns over whether the European Central Bank’s (ECB) will extend their current monetary policy (QE) programme beyond its current deadline of March, at tomorrow’s policy meeting. If this does occur it could start to heap pressure back on the EUR, so today may be an opportune moment to execute and short-term EUR/GBP currency exchanges.

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

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

Buying Euro exchange rates showing very tentative rises (Joshua Privett)

GBP/EUR rose to new three month highs yesterday following the result of the Italian Referendum, briefly breaching 1.20 before falling back down into the 1.18’s as the situation continued to evolve and further news was released.

This referendum was an attempt to change the Italian constitution due to years of ineptitude which has resulted in 64 different governments in the space of 73 years. Whilst to outsiders the reforms seemed quite reasonable, the fact that the Italian Prime Minister Matteo Renzi stated he would resign if the reform did not go through is why markets were so worried.

The rise of the far right in Italy is a concern and Renzi’s departure paves the way from them to eventually gain power and hold their own Referendum of partnership in the EU, all of which could happen within 6 months. The ‘No’ vote was seen as another in a long-line now of protest votes which has riddled 2016.

Furthermore, this put pressure on the planned bailout of Italian Banks, who are dependent on Eurozone intervention to avoid falling into bankruptcy.

The Euro fell immediately yesterday as a knee jerk reaction to the news – however, the single currency then staged a substantial recovery following the later clarification that Renzi will not be resigning straight away. Instead it seems that Renzi will be waiting until later on in 2017 at the next Italian budget before doing so.

Much like when Theresa May took power and said Article 50 would wait until 2017 at the earliest, the Euro has benefited from the same buffer period afforded to the Pound.

The rest of this week will be governed by the evolving situation in the Supreme Court which is currently being streamed live, and markets will be reacting to each turn of phrase and change in momentum in the arguments given by solicitors.

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 to maximise your return on your Sterling holdings and to minimize your exposure to a volatile marketplace.

I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for anyone planning a foreign currency transfer later this year.

What to expect for GBPEUR exchange rates this week (Dayle Littlejohn)

Today the Italian public are taking to the polls to decide whether more power should be given to parliament and taken away from the Senate.

Prime Minister Matteo Renzi believes money will be saved by making cuts to the Senate and the law making process will be faster and more decisive. The PM has made it clear that his position as PM will be unattainable if he loses the vote.

This has paved a way for anti-establishment party Five Star Movement led by Beppe Grillo. Mr Grillo will gain more power if Renzi resigns and he wants to hold a referendum in regards to keeping the euro, as many Italians are fed up that the economy is stagnant.

The polls are suggesting the result will be close however there is a good chance a no vote will occur which will lead to the Prime Ministers resignation. If this is the case I expect the Euro will continue to lose value tomorrow and therefore GBPEUR exchange rates will break through 1.20.

However Brexit negotiations early next year will put pressure on the pound and I believe quarter one is going to be a tough quarter for sterling. If you have euros to buy before UK Prime Minister Theresa May triggers Article50 in March I would suggest buying euros up front some point this month.

 

If you are converting GBPEUR in the upcoming months and are looking to achieve competitive rates of exchange whilst receiving regular economic information feel free to email me the reason for the transfer (company invoice, property purchase) the timescales you are working to and I will respond with the options available to you along with the process of converting currency. My direct email address is drl@currencies.co.uk and I look forward to receiving your email.

Will Sterling get stronger against the Euro after the Italian referendum? (Tom Holian)

Pound Euro exchange rates are now trading at their best level to buy Euros in 3 months after the Pound recovered against all major currencies this week.

On Thursday Brexit secretary David Davis spoke out about the single market and suggested that he may look to make payments to the EU even after we have left in order to keep rights to the single market. With the tone of a soft Brexit becoming more likely this helped the Pound to make the gains this week particularly against the Euro.

Tomorrow the Italians will hold their own referendum on constitutional reform in an attempt to organise their ailing banking sector. Prime Minister Matteo Renzi has stated that he may resign if the vote doesn’t go his way and if he does end up resigning this could throw up another bout of political uncertainty and this could weaken the Euro causing Sterling to perhaps break past 1.20 if this happens.

During this year we have seen a change in the voting patterns of the public with firstly Brexit back in June and the Trump win last month. It appears as though there is a feeling of protest to the establishment and I would not be surprised to see the vote go wrong for Renzi tomorrow. Therefore, if you’re in the process of buying Euros this could be the catalyst that sends GBPEUR rates in an upwards direction.

Next week the government will be challenging the High Court ruling on Article 50 by going to the Supreme Court and although we may not get any answers until January I’m sure the rumours will be flying out over the next few days so next week is likely to be rather volatile for Sterling vs the Euro to say the least.

Having worked in the currency markets since 2003 I am confident that with my experience I can help you with the timing of your transfer as well as save you money when buying or selling Euros compared to using your own bank.

For a free quote please email me directly with details about the volume you’re looking to convert and the timescale involved and I look forward to hearing from you.

teh@currencies.co.uk

 

 

GBP/EUR spikes upward on hopes of a Soft Brexit, will the pair breach 1.20? (Joseph Wright)

The Sterling to Euro exchange rate spiked to a new 3 month high yesterday afternoon off the back of comments from David Davis, the Brexit Secretary.

Those that have been following the Pounds performance this year will be aware that any talk of or indications of a ‘Hard Brexit’ has resulted in Sterling weakness, and the opposite can be said regarding allusions towards a ‘Soft Brexit’.

When answering a question in the House of Commons yesterday Mr Davis suggested that the UK government may be willing to pay for access to the single market and this comment was met with positivity, as the Pound reached 1.1956 at it’s highest point.

The Pound entered December in bullish fashion and this was a continuation of how it performed in November after the currency gained around 7-8 cents through the month.

Those waiting for the right time to convert Pounds into Euros have been presented with a substantially better trading level than they would have been if they made the deal a month before.

At our brokerage we’re able to offer commercial exchange rates meaning that the rates we offer are closer to the inter-bank level than those offered by typical high street banks/providers.

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

Sterling Euro hits 3 month high on single market comments (Tom Holian)

Sterling Euro exchange rates hit a 3 month high during yesterday’s trading session breaking through 1.19 on the Interbank level after comments from Brexit secretary David Davis that the UK may still make payments to the EU even after we’ve left in order to stay in the single market.

These comments really helped the Pound to gain vs all major currencies and hence the 3 month high to buy Euros yesterday.

This weekend could possibly result in even higher levels for GBPEUR exchange rates when the Italians hold their own referendum on constitutional reform on Sunday.

Matteo Renzi is looking to change the banking sector centrally but if the vote doesn’t go his way he has threatened to resign and if this does happen then this is likely to cause political uncertainty for one of the strongest nations in the Eurozone and therefore this could result in Euro weakness vs the Pound.

The Euro has really struggled vs the US Dollar hitting close to a decade low recently and owing to the Dollar strength this has helped the Pound to make gains vs the single currency.

Also next week the European Central Bank are due to meet to discuss their latest interest rate decision on Thursday and although I don’t expect a rate cut to come I think the central bank will discuss the problems with low inflation on the continent and this could lead to further Quantitative Easing being announced which could see GBPEUR rates go in an upwards direction.

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

If you have a currency transfer to make and would like to buy or sell Euros then please email me for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

GBP/EUR Rates Spike Again! (Matthew Vassallo)

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

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

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

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

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

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

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

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

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

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

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

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

 

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

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

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

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

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

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

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

Will GBPEUR hit 1.20?

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

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

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

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

GBP EUR Slides away from 1.18 High (James Lovick)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Tom Holian teh@currencies.co.uk

 

 

GBP/EUR hits 1.18 (Daniel Johnson)

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

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

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

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

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

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

Daniel Johnson – Executive Dealer

GBPEUR reaches a 5 week high! (Dayle Littlejohn)

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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

 

 

How long until GBPEUR hits 1.20?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Tom Holian teh@currencies.co.uk

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

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

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

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

GBP/EUR Spike Following False Memo (Matthew Vassallo)

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

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

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

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

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

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

Buying Euro rates see net loss today (Joshua Privett)

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

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

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

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

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

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

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

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

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