Category Archives: Buy Euros

Brexit talks dominate GBPEUR exchange rates (Tom Holian)

The next round of Brexit negotiations are due to start later today at the meeting currently being held in Brussels.

Hopefully this could mean that things could move on to the longer-term relationship between the European Union and the UK and if the talks go well we could see the Pound make some gains vs the Euro.

Indeed, if the talks progress we could see discussions moving forward about a transition deal for what will happen once the UK has left the European Union in 2019.

The Pound made some small improvements against the Euro yesterday hitting 1.14 on the Interbank level but it appears as though GBPEUR exchange rates are waiting to see what happens with the Brexit negotiations before making their move.

I personally think we could see the Pound move in an upwards direction if the talks progress as it shows that we are getting closer to agreeing a solution.

However, whatever happens over the next few days even if the Pound does rise against the single currency I think the movements will be relatively short-lived.

Indeed, German Chancellor Angela Merkel said that progress had been made but there was ‘much more work to be done and time is of the essence.’

As we go into the start of next week Eurozone inflation data is due to be released on Monday which could cause some movements for Sterling vs the Euro but ultimately I think the market will mainly be moved by whatever happens with the Brexit discussions so make sure you’re prepared for any eventuality.

If you’re in the process of either buying or selling Euros and would like to be kept updated with what is happening over the next few days then contact me directly for a free quote.

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

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

GBP EUR Rates before EU Summit

The pound should be in for a volatile couple of days with Theresa May flying to Brussels today to meet the other 27 European leaders at this summit. It will be decided officially if sufficient progress has been made for talks to move on to the second phase in the negotiations and the outcome should have a sizeable impact on the price of GBP EUR.

If the mood is positive from both the UK and EU side then this is likely to have a positive impact on sterling exchange rates. A move back over 1.15 for GBP EUR seems entirely plausible and could present some good opportunities for those clients looking to buy Euros. Those clients looking at selling Euros for pounds would be wise to consider securing a rate prior to any announcements as the odds would suggest that an agreement will be reached.

Theresa May goes to Brussels today having lost a key vote in the House of Commons last night which allows parliament to now have vote on the final deal offered by the EU and some would argue it weakens her hand in these important negotiations. This could cause problems further down the line in government as well as delays in delivering Brexit and in my view this is likley to create additional uncertainty for sterling exchange rates going forward. A key vote next week on the setting of a date for Brexit enshrining it into law will be crucial and if the government was to lose this vote then the pound could come under additional pressure. The Bank of England and European Central Bank interest rate decisions today are also likely to create more volatility for GBP EUR.

Today and tomorrow could see major market movement on the back of the summit so to discuss how your individual currency requirement is likely to be impacted by these events then please feel free to get in touch with me at jll@currencies.co.uk

EU Summit could cause Sterling rally (Daniel Johnson)

Davis comments cause the pound to fall

Sterling value is predominantly being influenced by the situation on Brexit.  Phase two of Brexit negotiations is due to commence shortly if all goes to plan tomorrow and how it progresses will have ramifications for the pound. GBP/EUR hit 1.15 on Friday following the announced agreement on Irish borders. I was of the opinion this could be the start of some more significant gains for the pound, but comments from Donald Tusk caused Sterling to fall in value. Phase two negotiations could prove problematic if Brussels decide to make an example of the UK in order to warn off other regions from leaving the EU. I think this has been witnessed to some extent in phase one, I personally feel it is diabolical it has taken this long to get to this stage.
The UK’s Brexit secretary, David Davis has not helped matters. He stated over the weekend that the guarantees on the Northern Ireland border were not legally binding and caused Sterling to drop in value against the majority of major currencies. Not too clever considering his position and power to influence the exchange. He has however vowed to convert the Brexit deal into legally binding text.
Brussels are clearly not happy with Davis’s comments and it does not bode well for negotiations moving forward.  Davis’s comments could cause amendments to the current deal at the EU summit tomorrow. If everything goes to plan Brexit talks can enter phase two next year which should be beneficial to the pound.
If you have a currency requirement I would be happy to assist. You need to have an experienced broker on board in order to take advantage of rates when a brief spike occurs, especially in the current climate. If you have a currency provider already in place I am prepared to perform a comparison against them. It will take minutes and could potentially save you hundreds or even thousands of pounds. I can be contacted at dcj@currencies.co.uk.

The impact of exchange rates when selling a property in Europe (Tom Holian)

If you’re in the process of selling a property abroad the chances are that you’re doing research about how to save money when selling Euros to buy Pounds.

We have seen the Pound come under a lot of pressure since June 2016 when the UK voted with a majority to leave the European Union and although the Pound has been improving recently the gains could be very short lived.

The next EU summit is due to take place next Thursday and Friday and up for discussion will be the Irish border issue as well as trying to kick start the trade negotiations.

At the moment the Irish border issue is clearly far from being sorted and I think unless this gets resolved by next week the Pound could face some real problems next week as the trade talks could stall making the whole meeting almost rather pointless.

The UK announces both Industrial and Manufacturing data in the morning so this could cause some short term movements tomorrow and as we go into the afternoon the latest NIESR GDP data is announced for the last three months.

Although these are not the official figures they are usually very accurate and therefore could be an indicator as to which way GBPEUR exchange rates will move towards the end of the week.

Many of my clients who are buying or selling a house in Europe have been buying forward contracts recently in order to avoid the uncertainty as to where exchange rates could be by the time completion comes around.

This involves paying a small deposit with the balance to be paid at a later stage to guarantee an exchange rate.

If you need to make a currency transfer over the next few days or weeks and would like further information or a free quote when buying or selling currency then feel free to get in touch.

Having worked in the foreign exchange industry since 2003 I am confident of not only being able to offer you bank beating exchange rates but also help you with the timing of your currency transfer.

To find out more contact me directly Tom Holian teh@currencies.co.uk

GBP/EUR Forecast – The Pound Recovers Following Yesterday’s Losses (Matthew Vassallo)

GBP/EUR rates have remained fairly flat during Wednesday’s trading, with Sterling holding firm against its Euro counterpart.

The Pound was under pressure yesterday morning but fought back during the afternoon to eliminate any deficit.

GBP/EUR rates continue to trade above 1.13, hitting a high of 11.362 today. With the EUR finding support around 1.14 of late, clients looking for any spikes through this level will be hoping for a swift resolution to the current round of Brexit talks.

If the UK government and EU can agree upon a final settlement figure (rumoured to be in the region of 50 billion EUR), guarantee the protection of EU nationals living and working in the UK and also come to arrangement over the setup of the new Irish border, we may see some investor confidence return to the UK.

This in turn could have a positive impact on Sterling’s value but even if talks do progress over the coming as both sides are striving for, I don’t anticipate a major or sustainable improvement for the Pound.

The Pound dipped yesterday due to major sell-off of Sterling positions, which was likely linked to the latest report regarding Brexit negotiations. Despite the undertone being fairly positive in terms of the on-going hope that both sides could reach a deal before long, talks were broken off due to disagreements over a number of key issues.

The DUP party, who the government rely upon due to their coalition agreement, have stated that they will not sign off on any deal regarding Brexit unless Northern Ireland’s terms are mirrored exactly to those of the UK.

This is causing problems over an agreement regarding the Irish border, with the government angling for a softer Brexit for Northern Ireland, in order to keep a fairly relaxed border between them and Southern Ireland.

This halt in proceedings has caused some investors to panic, which in turn has caused GBP/EUR rates to drop.

With so many unanswered questions surrounding Brexit, in terms of when we will move on to the next phase and what type of concession this may incur, and my opinion is to avoid gambling on the current market. We have no idea what sort of trade deal the UK can agree with the EU and how the UK economy may progress over the years, in what is completely new and unchartered territory.

If you have an upcoming GBP/EUR currency transfer to make you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

A volatile start to the week for GBPEUR exchange rates and what to expect next?

This week we have seen major fluctuation for GBPEUR exchange rates off the back of the Brexit negotiations. To start the week rumors emerged that the UK had secured the three key aspects to start Brexit negotiations and the pound made substantial gains against the euro.

However throughout Monday afternoon Theresa May confirmed no deal has been secured and the DUP added to Theresa May’s problems by stating they are not happy with a different border control to the rest of the UK, in other words having a soft border with the Republic of Ireland.

I’m still of the opinion that in the upcoming weeks the UK and EU will agree to start trade negotiations at some point early next year, which will provide a period of sterling strength for clients buying euros. Therefore if I had time I would hold off for the time being.

For euro sellers at present you are still receiving what I like to call the ‘Brexit discount’. What I mean by this is compared to Pre Brexit levels you are receiving an additional 15%. To put this into monetary value on a €200,000 transfer you are receiving an additional £25,000.

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 Recovers Ground on Expected Brexit Deal

GBP EUR exchange rates have rallied in afternoon trade recovering the losses seen this morning for this pair. The pound has seen a hugely volatile couple of days as the Brexit negotiations continue to be the main driving force for sterling exchange rates. The lack of agreement at the last moment yesterday when the deal was scuppered by the Democratic Unionist Party (DUP) saw sterling fall from its recent highs although it is clear that an agreement is the preferred option from all sides.

Any breakthrough which could come later this week could see the pound rally as the prospect of a no deal scenario becomes less likely. Those who are optimistic could see some excellent gains for those clients looking to buy Euros. The crunch point will be the end of next week after the EU summit 14th & 15th December. Any deal should be worked out by this time and any failure in not doing so would almost certainly see the pound weaken.

Data is light for both the UK and EU on Wednesday so focus will move to UK house price numbers on Thursday and EU Gross Domestic Product data. The EU had suffered until recently from very weak economic growth and so these numbers will be closely scrutinised by the European Central Bank. Economic data has largely been positive in recent weeks and confidence in the EU reached a 17 year high in November.

With Brexit negotiations between the relevant parties continuing then developments here will almost certainly overshadow the economic data. Once again it is politics which is having the biggest impact on GBP EUR rates and this is unlikely to change anytime soon with discussions expected to continue right up to the wire in 2019.

For more information on the price of sterling and the Euro then please get in touch with me James at jll@currencies.co.uk

Pound hits the highest rate to buy Euros since early November (Tom Holian)

The Pound has continued to make gains during the course of this week against the single currency as the news from the behind the scenes concerning the Brexit appears to be going a lot more positively recently.

Rumours are rife that the UK are preparing to offer approximately €50billion Euros as part of a settlement called the divorce bill in order to take the trade negotiations forward.

The next meeting is due to take place in the middle of next month and top of the agenda is likely to be the Irish border issue and as yet this could be a real sticking point for progression of the talks.

Clearly Ireland wants to remain without a physical border between north and south and this has not yet been sorted.

The amount of €50bn is not the only amount that the UK may have to pay as we also have a lot of previous financial obligations with some expectations as much as €100bn.

The Pound vs the Euro is currently trading at its best level to buy the single currency with Sterling since the start of the month creating some excellent opportunities for those looking to send money to Europe.

However, with all the ongoing uncertainty over the next few weeks a lot of my clients have been looking to buy a forward contract which allows you to fix an exchange rate for a future date.

This can take out all the concern of where GBPEUR exchange rates may be during this time and although they don’t always work they can provide you with peace of mind.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

 

GBPEUR spikes above 1.13

Overnight key Brexit developments have been made and euro buyers have reaped the rewards with exchange rates spiking from the lower 1.11s to the lower 1.13s. Reports are suggesting that the UK has offered €50bn as a divorce settlement which equates approximately to £44bn. No agreement has been made however it appears that the EU have welcomed the figure which in my eyes is a break through in the Brexit negotiations.

In recent weeks the amount of euros the UK would pay the EU as a divorce settlement has been the sticking point. Early this year the UK were suggesting they wouldn’t pay a penny to leave the EU and the EU wanted €100bn. It just shows developments have been made.

The next question is what next? This development shows quite clearly that the UK and EU want to eventually come to an agreement and I am optimistic that this will eventually happen. However the Irish border could be the next sticking point as Northern Ireland have stated they do not want a hard border.

On the 14th and 15 of December the EU will decide whether trade negotiations can begin. If enough progression has been made I expect the pound could continue to rise against the euro.

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! **

GBP EUR Rates Fall on Political Uncertainty

The pound has dropped sharply in afternoon trade with rates for GBP EUR falling to a low of 1.1136. The edited documents in British politics which highlight the impact on Brexit on 58 different sectors appear to have been watered down for other politicians to view in an attempt to try and keep certain elements which are commercially sensitive out of the public domain.

There have now been suggestions from the Labour party that the government could be in contempt of parliament if it refuses to release all details in the reports. This news is yet another issue for this government which is having to tread very carefully with everything going on in this Brexit negotiation and is weighing on sterling exchange rates.

With a stalemate in negotiations between Britain and the EU the markets now look forward to the EU summit in December which could see a hugely volatile period for GBP EUR rates. If the deadlock is broken then there could be a great opportunity to buy Euros. The risk remains however that there could be a no deal and this would likely see the pound tumble sharply which could help anyone looking to sell Euros.

EU data sees consumer confidence numbers tomorrow ahead of the eagerly awaited inflation and unemployment data on Thursday. The EU has suffered with low inflation for almost a decade but this year has managed to see a pick up in the numbers which is helping the Euro make a recovery. A strong number here will only help cement the view that the European Central Bank is coming to an end of its loose monetary policy which should help support the Euro further.

For more information on GBP EUR exchange rates and how these key upcoming events have a direct impact on the rates of exchange and how to maximise on the opportunities as they happen then feel free to get in touch with me James at jll@currencies.co.uk

Sterling Rates Steady after UK Budget

After a very safe budget from Chancellor of the Exchequer Philip Hammond yesterday the pound has seen little in the way of volatility on the back of it. The ongoing uncertainty of Brexit remains the main sticking point however and continues to weigh heavily on sterling exchange rates.

GBP EUR is currently sitting at 1.1255 and the markets now wait for the end of next week for the end of a two week ultimatum set by Michel Barnier for Britain to offer more in the divorce bill to try and break the deadlock and move discussions on to future trade. Rumours are circulating that UK Prime Minster Theresa May will offer €38 billion in the first week of December although where rates for GBP EUR move to will very much depend on how well such an offer is received by the EU.

Will the pound strengthen?

Should trade discussions open then this in my view would be very good for sterling exchange rates and there could be a good shift higher for GBP EUR. The risk for those clients waiting for rates to improve is that is the conversation does not move on to trade then this could see the pound weaken materially across all of the major currencies including the Euro. The prospect of a no deal scenario continues to keep the pound at bay. The problems for the pound is that the negotiations will continue right through up until 2019 which leaves a very long period of uncertainty.

Clients looking to buy or sell Euros should pay close attention to developments surrounding the EU ultimatum for more money and would be wise to get in touch to look at the options available and how to take advantage of the better rates when they become available. Feel free to contact me James at jll@currencies.co.uk

Budget does little to move Sterling Value (Daniel Johnson)

Budget benefits first time buyers

Hammonds’s budget did little to alter the value of Sterling today, historically this is usually the case when the budget is delivered as the expected changes are usually filtered out through the media before hand. The market moves on rumor as well as fact.

Key Changes

  • To benefit London and other expensive areas, the first £300,000 of the cost of a £500,000 purchase by all first-time buyers will be exempt from stamp duty, with the remaining £200,000 incurring 5%.
  • 95% of all first-time buyers will benefit. 80% not paying stamp duty
  • £44bn in overall government support for housing to meet target of building 300,000 new homes a year in the next five years.
  • Councils given power to charge 100% council tax premium on empty properties
  • Compulsory purchase of land banked by developers for financial purposes
  • £400m to regenerate estates with £1.1bn to unlock new sites for development
  • Stamp duty is to be abolished immediately for first time buyers purchasing properties worth up to £300k

Factors that will effect GBP/EUR – Keep an eye on these situations as they develop

Sterling sellers would be wise to keep an eye on the current political situation with Theresa May. It is rumored there are as many as forty MPs willing to put forward a vote of no confidence. If there are forty-eight members and the vote is put forward, May will lose her position. Political uncertainty historically weakens the currency in question and I would expect GBP/EUR to drop below 1.10.

If an exit bill is agreed there is the potential for Sterling strength as this will pave way for trade negotiations to begin. €20bn is currently on the table , but it is rumored May will up this to €38bn.

Potential Euro weakness could be caused by Merkel’s failure to form a government in Germany, there is the possibility of a new election which will no doubt cause the euro to lose value. Catalonian independence should also be kept a close eye on.

During such unpredictable times you need an experienced broker on board if you wish to maximise your return. If you have a pending currency transfer let me know the details of your trade I will endeavor to assist. There is no obligation to trade by asking for my help, I will provide a free trading strategy to suit your individual needs. If you do wish to try our service you can trade in the knowledge we are a no risk entity, as we do not speculate. Foreign Currency Direct PLC has been in business for over 16yrs and we are registered with the FCA. If you already use a provider I can perform a comparison within minutes and I am confident I will demonstrate a considerable saving. I can be contacted at dcj@currencies.co.uk.

 

Pound to Euro rate improves after German PM Merkel’s future looks uncertain! (Joseph Wright)

The Euro dropped in value today after Germany, the engine room of the EU is currently facing a political crises with many political commentators calling it the biggest crises of current Angela Merkel’s tenure.

Late on Sunday exploratory talks broke down between her Christian Democrats, Bavaria’s Christian Social Union and the Liberal Free Democrats broke down, ruling out an obvious path for Merkel to form a coalition government.

With German coalition talks collapsing it’s not surprising to see the Euro fall, as political uncertainty tends to weigh on the underlying currency.

An issue for the UK moving forward may be a pause to Brexit negotiations due to Merkel’s issue, but as it stands the GBP/EUR rate has benefited from the headline grabbing story.

At the same time the Pound opened the week strongly against all major currency pairs after speculation regarding the UK’s Brexit Bill continues. The current rumours suggest that the bill will increase to £38bn and the Pound has been boosted off the back of this news as if it’s true, it may clear the path for Brexit negotiations to progress.

If you’re following the GBP/EUR pair because you have an upcoming currency requirement involving the pair, feel free to get in touch and register your interest.

This week the Autumn Budget will take place so there could be movement, so this event is certainty worth watching.

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 Rallies On Expectation of Increased EU Divorce Offer

The pound has found some support at the end of this week after a poor performance across nearly all of the major currencies. GBP EUR has pushed back over 1.12 this morning after rumours have circulated that UK Prime Minister Theresa May will possibly look to increase her offer of a financial settlement to the EU from €20 billion to €40 billion. Theresa May is in Sweden so any commentary here is likely to have an impact on the price of sterling.

If an offer is made later today the pound could react depending on how well that offer is received. The key to the direction will be the response from EU leaders but if received badly then the pound could fall against the Euro. The response today could also tie in to next week’s budget which will be delivered by Chancellor Philip Hammond and this is likely to be a big market mover next week.

UK data softened this week after retail sales numbers fell to their lowest level since 2013. Although the figure was higher than expected the fact that it is materially lower than four years ago is a concern for the British economy and hence the pound. With no UK economic data releases today the focus will be on a speech from European Central Bank President Mario Draghi and construction numbers this morning.

UK Gross Domestic product figures are released next week and any improvement here could help lend support to the pound. Considering the NIESR estimate pointed to stronger GDP going forward then there is the potential to see some upside for sterling exchange rates.

It is clear there are so many factors revolving around politics and Brexit which are having a direct impact on the price of sterling and the next week will be crucial in where rates will be heading next. Clients selling Euros continue to see an excellent opportunity for buying pounds. If you would like to discuss your requirement and the impact that these economic and political events are having then please get in touch with me and I will be happy to give you my thoughts. My email address is jll@currencies.co.uk

Major volatility expected for GBPEUR exchange rates

With the spotlight beaming down on UK Prime Minister Theresa May, the pound remains under severe pressure against the euro providing euros sellers with a fantastic opportunity.

Reports were leaked at the weekend that 40 Conservative MPs plan to persuade another 8 Conservative MPs to sign a vote of no confidence in the Prime Minister. This is a key reason to why the pound started the week so poorly against all of the major currencies.

Head Eu negotiators Michel Barnier is also mounting the pressure as he gave the UK a 2 week deadline for progression, this announcement was released last Friday therefore we have 8 days until crunch time. Mr Barnier wants to be able to report clear progression at the EU commission meeting in December.

With Brexit negotiations now in full swing and clearing heating up, I expect major volatility for GBPEUR exchange rates for the remainder of the year. If no progression is made I believe Theresa May’s time at number 10 will be limited and therefore GBPEUR exchange rates could fall to the lows that we saw 8 months ago (1.07).

However if progression is made pressure will be released, and GBPEUR could hit a 6 month high (1.15). If you are converting GBPEUR in the upcoming weeks devising a strategy now is wise!

For further information in regards to GBPEUR currency transfers feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 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 GBP/EUR rate break out of its current trading range anytime soon? (Joseph Wright)

The Pound to Euro exchange rate is now trading towards the bottom end of its current trading range, as the pair have dropped down to the 1.11’s.

For some time now the pair have struggled to breach the 1.14 mark, and with there being talk of Theresa May’s (UK Prime Minister) position coming under pressure along with some disappointing inflation data yesterday, the Pound has been under pressure which has pushed it to the lower levels of the current range which I believe is roughly 1.10 to 1.14.

Now the likelihood of further rate hikes in line with the Bank of England’s plans are looking less likely, we’ve seen the Pound drop off and I think that the rate could continue to soften should this continue.

Those selling Euros into Pounds are still in a great position when we consider that the current EUR/GBP rate is trading towards the top end of a 10-year range, which mid-market levels now close to 0.90. This may continue mostly owing to GBP weakness, but I do think the Catalonian independence issue could scupper the Euros strong position should it resurface once again.

If you wish to kept updated regarding any short term price movements between the pair, do feel free to register your interest with me. Yesterday the Euro hit a 1-month high against the Pound so those that wished to be kept updated were able to take advantage of our service.

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 – Sterling Remains Under Pressure (Matthew Vassallo)

Sterling has lost further ground against its Euro counterpart today, falling by over a cent from the high.

GBP/EUR rates have dropped below 1.12, hitting 1.1145 at today’s low. Despite the Pound finding some marginal support this afternoon, it is clear that market confidence in Sterling remains minimal.

The EUR has had problems of its own but the overall perception of the Eurozone economy is far healthier than that of the UK’s. As such, it is unlikely in my opinion that the Pound will find any real support up to or above 1.15 under current conditions. Whilst 1.10 seems to have offered those clients holding the Pound some protection of late, any further political or economic unrest could lead to this level being tested again before long.

The Pound has had some false dawns of late and as such some clients have been holding out for more sustainable improvements. My opinion has remained the same for some time and that is that any client holding GBP should be taking advantage of any small improvements, rather than hold out for any longer-term sustainable gains.

The UK economy is under a huge amount of pressure and despite the Bank of England (BoE) raising interest rates my a marginal 0.25%, there has been no real change in market perception.

Reports this week have indicated that UK Prime Minster Theresa May is under further pressure, with a vote of no confidence edging ever closer.

Whether or not she holds on to her position over the coming weeks, her positon as the head of the Conservative party and UK PM is becoming more unattainable by the day. This is leading to yet more uncertainty and a disjointed approach to Brexit negotiations, which is creating instability at every turn.

Whilst the markets never move simply in one direction, whilst condition’s remain as they are, I do not anticipate a major upturn for the Pound.

I would be looking to protect the current value on any short to medium range transfers and avoid the very real risk of a further downturn.

If you have an upcoming GBP or EUR currency transfer to make you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

Trade Balance and Production Data boosts the Pound (Daniel Johnson)

Pending Euro purchase? When should I move?

We have seen a spike on GBP/EUR this morning following a series of positive UK data releases, going against the grain. Trade Balance data was positive across the board and was followed by Manufacturing and Industrial production data. Both moving up by 0.4%. GBP/EUR has hit a day high today of 1.1348 up from 1.1263.

If I had a Sterling to Euro requirement I would be considering moving at current levels. Political uncertainty and a lack of clarity on Brexit talks could drag the pound back. 1.1340 does not seem like a bad time to move considering the best rates we have seen since June is 1.1450. With the recent resignations of Michael Fallon and Preti Patel it is difficult for investors to have faith in the Tory government who seem to be more concerned with their only political agendas and protection than sorting out the UK economy and focusing on the most important negotiations of the last fifty years.

I am of the opinion we will be anchored at current buoyancy levels between 1.10-1.1450 unless these situations are rectified \or indeed something unpredictable occurs to weaken the Euro. The situation in Catalonia is one of the few reasons I can base Euro weakness on. Be wary of hoping for  1.15 + if you have to move sort to medium term buying Euros.

If you have a currency requirement I will be happy to assist. It is crucial to be in touch with an experienced broker when the market is currently so hard to predict. If you let me know the details of your trade I will endeavour to produce a free trading strategy to suit your individual needs. Have faith knowing you will be dealing with a brokerage in business for over 16yrs, Foreign Currency Direct Plc. We are a no risk entity as we do not speculate on the market and we are registered with the FCA. If you have a currency provider take a minute to send over the rates they offer and I am confident I can demonstrate a significant saving.  I can be contacted at dcj@currencies.co.uk . (Daniel Johnson) Thank you for reading.

Brexit Date and UK Economic Data – Pound vs Euro rates (Tom Holian)

Prime Minister Theresa May has set out guidelines for the UK’s date and time to leave the EU in law and claiming that she will not ‘tolerate’ any potential plans to block the Brexit.

May has claimed that the EU Withdrawal Bill will be formally changed on Friday 29th March 2019 and as we are already almost 6 months into the discussions this is a clear line in the sand by Theresa May.

This means that the government are absolutely committed to pushing through Brexit but she will still have to get it through a number of attempts to pass it via parliament.

There are still a number of opponents to the Bill but it looks at though there is at least an attempt to provide the markets with certainty.

Turning the focus back to the UK economy we have a lot of economic data due out during the course of the day starting with UK Manufacturing & Industrial Production data due out at 930am this morning.

This will be followed later this afternoon with the latest NIESR GDP estimate for the last three months.

The UK has been going through a mixed period with economic data so keep a close eye on the data releases over the next few hours.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

GBP EUR Rates Fall Below 1.13 Amidst Political and Brexit Uncertainty (James Lovick)

The pound is struggling to push beyond the recent highs against the Euro with levels for GBP EUR sitting just below 1.13.
The pound is being hampered by constant political uncertainty with new stories coming out almost by the day all adding a little bit of risk for the pound. The latest resignation of a senior cabinet minister could see a cabinet reshuffle in the coming weeks.

The resignation yesterday from Priti Patel and Sir Michael Fallon in the week before all weigh heavy on a government that recently lost its majority in the House of Commons. Politics continues to be a major driving force for sterling exchange rates and this is unlikely to change anytime soon. With the position of International Development Secretary now filled by Penny Mordaunt expect the markets to guess who will be next to go.

UK economic data is heavy on Friday with manufacturing and industrial production figures as well as trade balance data. The GDP estimate from the National Institute for Economic and Social Research could also create some major volatility for the pound vs the Euro. The strength of the British economy is a big driver for the price of sterling and any projection of a fall could see the pound come under added pressure. The NIESR estimate is an excellent pre cursor to the official economic data and the markets can move quickly on the bag of a strong or weak number.

Selling Euros?

The Brexit negotiations have resumed today and any comments from Brexit secretary David Davis or his counterpart Michel Barnier are likely to cause volatility for sterling Euro rates. The stalemate over the amount Britain is prepared to pay is preventing the pound from making gains although it may only be a matter of time before sufficient progress is made.

Clients looking to buy or sell Euros would be wise to make contact and look at the options available. There are reports that pressure is mounting on Britain to move forward within the next two weeks. As such at the end of the period there could be some considerable volatility for GBP EUR. Please feel free to make contact with me at jll@currencies.co.uk to take a look at your requirement and how we can help achieve the best rates of exchange as they become available.