Category Archives: Eur Forecast

French election news strengthens the Euro vs the Pound (Tom Holian)

Sterling vs Euro exchange rates have fallen from their recent high reached five months ago after the UK announced a snap general election last week.

This gave the Pound a much needed boost vs the Euro but the gains have been short lived as the French elections announced their first round of results over the weekend.

The French public have voted for two candidates who will now go head to head in the next round which is due to take place on May 7th. The likelihood is that Emmanuel Macron will defeat the more controversial National Front leader Marine Le Pen.

This has led to the single currency recovering from its losses from the end of last week and the reason for the improvement in EURGBP exchange rates during today.

On Thursday there are a number of data releases likely to affect GBPEUR exchange rates with Services data from the Eurozone alongside a Business Climate indicator survey.

This will be followed by the latest European Central Bank decision due out and the subsequent statement released by ECB president Mario Draghi.

Having worked in the foreign exchange industryfor one of the UK’s leading currency brokers since 2003 I am confident not only of offering you bank beating exchange rates but also help you with the timing of your trade,

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.

Tom Holian teh@currencies.co.uk

 

1.20 Still a Key Resistance Level for GBP/EUR Exchange Rates (Matthew Vassallo)

Sterling has met resistance under 1.20 against the EUR and is struggling to break through this key level for the pair.

Despite this week’s positive move, I am not convinced that the recent trend will allow the Pound to sustainably move above this threshold.

Sterling has gained over two cents following UK Prime Minister Theresa May’s decision to call a snap general election in June. This positive move went against the grain, as historically any political U-turns usually bring with it a level of uncertainty and the currency in question is put under pressure. As regular readers will know any economic & political uncertainty is a currencies biggest downfall and for this reason I would be extremely tempted to take advantage of Sterling’s gains over the past 48 hours.

There are still many unanswered questions and despite many assuming the result of the election is a forgone conclusion, last year’s political outcomes in terms of the Brexit result and President Trump’s victory, should head a warning to us all that the expected outcome does not always come to fruition.

There is no doubt Sterling has gained a foothold and EUR sellers may well have missed the opportune time to sell their positions but the current levels remain attractive, certainly when you consider the history on the pair.

The main talking point over the next few of weeks is likely to centre around the French elections and with the far right Marine Le Penn once again gaining support, having seemingly been out of the race, investors are likely to be extremely wary about what the outcome could be should she get into power. With so much economic and political uncertainty across the Eurozone region are you prepared to gamble on a seismic shift in market conditions, which would be needed to significantly boost the EUR value in my opinion.

My overall opinion is that both buyers and sellers should be looking at short-term market opportunities to secure their transfers, rather than gamble on the long-term outcome whilst so much uncertainty surrounding the UK & Eurozone economies remains.

If you have an upcoming GBP or EUR currency transfer 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 Matt.

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

Pound Euro exchange rates on the rise (Tom Holian)

Pound vs Euro exchange rates have continued to improve since the formal announcement that Brexit talks can begin and we are now at the best rate to buy Euros with Sterling in over 6 weeks. The French elections are due to start in the next fortnight and at the moment the polls are showing quite mixed reports in Europe.

The controversial character and leader of the National Front Marine Le Pen appears to be looking like one of the favourites to get through the first round of voting which takes place on 23rd April.

However, the likelihood is that Emmanuel Macron will end up winning the final round which takes place on May 7th.

The problem for the single currency is that once the elections begin this is likely to cause a lot of volatility for Sterling vs the Euro and in my opinion I think we could see problems for the Euro and this could even result in GBPEUR rates hitting 1.20.

Therefore, if you need to buy Euros it would be worth your while paying close attention to what will happen once the voting in France takes place.

As we enter the Easter break the markets will be still be moving globally so if you’re based in the UK you may wish to contact me at some point today if you have a currency purchase to make in the next week.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency providers I am confident of being able to offer you better rates of exchange than using your own bank.

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

Tom Holian teh@currencies.co.uk

 

Sterling hits an 8-day high against the Euro as French Presidency fears hit the single currency (Joseph Wright)

The Pound to Euro rate exceeded 1.1750 yesterday afternoon and the pair have held strong above this level so far, as at the time of writing the pair are still trading above this level at the mid-market level.

What’s also interesting to see is that today’s low so far is 1.1756 which indicates to me that there could be support for the pair at this level.

With Sterling gaining slowly since the official start to the Brexit process it appears that the currency has hit its lowest level and it’s now on the recovery, which many within financial markets suggesting that the Brexit has been priced into the Pounds value.

What may help the Pound make additional gains against the Euro later this month is the French Presidential election. There have been fears and hedged bets against the Euro as there’s a chance far-right candidate Marine Le Pen could perform better than many are expecting. This would likely result in Euro weakness due to her plans for a Frexit, but over the past week the increasing popularity of far-left candidate Jean-Luc Melenchon has also weighed on the Euros value due to his views on tax tariffs.

Now that Brexit is underway economic data is playing a more prominent role in the currency fluctuations involving the Pound, so if you’re planning on making a currency exchange involving the pound and another currency do feel free to get in touch regarding these events.

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

 

Pound falls against the Euro owing to poor economic data (Tom Holian)

The Pound has ended the week falling against the Euro after the UK posted worse than expected economic data.

UK Industrial & Manufacturing data both fell in March and this led to the Pound falling from close to a 1 month high earlier in the week vs the Euro to 1.1.6 during today’s trading session.

After the triggering of Article 50 last week the focus has now turned back to the economic data both here and the Eurozone and owing to the lacklustre data the Pound fell vs the single currency.

We also saw the release of the latest three month’s worth of UK GDP data published by the NIESR.

The figure was 0.5% for the quarter which although is still relatively strong it didn’t give the markets the boost they were perhaps looking for.

Moving the focus towards next week UK inflation data will come out on Tuesday morning.

Inflation has been rising recently in the UK and the previous month’s MPC meeting minutes showed that one of the 9 members actually voted for an interest rate hike.

Therefore, if inflation shows another increase on Tuesday it could provide support to last month’s vote and we could see a slow shift in favour of raising interest rates in the UK sooner than some have predicted.

Therefore, if you’re considering making a currency purchase between Sterling and Euro then Tuesday could cause some big movements depending on the data release.

If you would like a free quote when buying or selling Euros compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Having worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates.

Email me with details of your enquiry.

Tom Holian teh@currencies.co.uk 

Could the Pound hit 1.20 this month? (Tom Holian)

With the trigger of Article 50 now one week behind us the focus is now returning back to the economic data in both the UK and the Eurozone.

The Pound has seen some small gains since last week touching 1.17 on the Interbank level during today’s trading session and the Pound has been creeping up against a lot of other currencies during the course of this week.

We are now less than 3 weeks away from the French elections which are likely to cause problems for the Euro as the controversial politician Marine Le Pen looks as though she will get through the first round of voting due to take place on 23rd April.

However, although she is very likely to get through the first round the likelihood is that she will be defeated when the second and final round takes place on 7th May.

However, as we have already seen with the Brexit vote and the Trump win during 2016 there appears to be a voice for change so anything is possible when it comes to politics.

If we see a surprise win for Le Pen this could send GBPEUR rates in an upward direction very quickly but personally I would be amazed to see her win the elections next month.

In the short term the UK releases the latest set of GDP figures for the last three months when the NIESR confirms the data on Friday. I think this could be rather positive for the UK as Retail Sales released recently showed a big jump and as Retail Sales are a big part of the British economy I think this could result in some positive GDP figures.

Therefore, if you’re in the process of buying Euros with Pounds then the end of the week could potentially provide a better opportunity.

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 and I look forward to hearing form you.

Tom Holian teh@currencies.co.uk

 

Where Next for GBP/EUR following the triggering of Article 50? (Daniel Johnson)

Trade negotiations will be crucial to the value of the pound following the triggering of Article 50. Theresa May has been very positive in regards to how trade negotiations will proceed. She spoke yesterday and claimed the UK will be able to use the blue print of up to fifty current trade agreements already in place. Essentially copying deals that already in existence to avid the long drawn out negotiations process.

This could cause the first clash with Brussels. May stated “It will be possible to simply cut and paste deals with countries such as South Korea, Mexico and Jordan.”

She has caused some commotion by now claiming the exit process could take more than two years. This is not surprising to myself as I recall Sir Ivan Rogers, head EU ambassador resigned from his position stating the two year target was unrealistic. He said “negotiations could take up to ten years.”

Despite the elongation of trade deals, I am of the opinion Sterling will rally as trade negotiations progress. I do not think it will quick significant gains, more a slow steady rally.

Take in to account Marine Le Pen has the opportunity to take power in the French elections and we could see the pound gain strength against the Euro later in the month. The Head of the National Front has claimed she will hold a referendum in the event of victory. We have already witnessed the effect a referendum can have on a currency.

If you have a currency requirement I would be happy to assist. I will provide a free trading strategy to suit your individual needs and also I will perform a comparison with your current provider to demonstrate your potential savings by using our services. I can be contacted at dcj@currencies.co.uk.

 

 

 

 

Pound to Euro exchange rates soften following poor manufacturing and construction data (Joshua Privett)

Pound to Euro exchange rates have been having a more difficult time as of late with economic data coming to the fore now that Article 50 has been triggered, and it is no longer the daily machinations of the Brexit negotiations governing exchange rates.

The Pound has begun the month poorly so far after some underwhelming manufacturing and construction figures were released for the UK economy on Monday morning and now this morning.

These were business confidence figures in these sectors, which were benefiting heavily from the supportive impact of a cheap Pound on UK exports, and the government’s recent drive for infrastructure investment.

Whilst these are still positive, this enthusiasm appears to be muted compared to where we have been previously. This is likely due to the recent Spring Budget which didn’t announce as sweeping an investment as expected in UK infrastructure, and due to the recent gains for the Pound eating into the competitiveness of the manufacturing industry.

However, the spotlight will shift to the Eurozone’s own data later this week, and again with the first time in a while that economic data seems to be playing a major part in exchange rate movements, Euro buyers should be looking keenly to the results later this week in dictating trends for Pound-Euro rates as the year continues.

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

I 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.

Pound vs Euro at the highest rate since February (Tom Holian)

Pound to Euro exchange rates have hit their best rate to buy Euros since late February.

Since the triggering of Article 50 on Wednesday the Pound has edged up against the single currency despite some previous predictions that the Pound would struggle once the formal announcement was made.

It appears as though the value of Sterling Euro exchange rates for the last few weeks has been priced in which means there was an expectation for the trigger of Article 50 so when it was actually announced it cause little movement for Sterling.

Indeed, at least for the time being the focus will now turn back to the economy before the EU negotiations will take place.

We saw UK GDP come in line with expectation shrugging off any Brexit fears for the fourth quarter of 2016 and this has also lent the Pound some support vs the Euro.

Also, published yesterday were Eurozone inflation figures which saw a big drop from the expectation of 2% to 1.5%.

This caused weakness for the Euro sending GBPEUR exchange rates up to their highest level since the final week of February. Good news if you need to buy Euros to send to Europe for a property purchase or even living expenses.

The reason for the weakening of the Euro is that if inflation falls it demonstrates that the QE programme which the ECB has in place until early next year it not necessarily working which means it could be extended.

It also means that the ECB will not be able to increase interest rates for quite some time. Therefore, this is the reason why we have seen Sterling increase against the Euro towards the end of the week.

If you have a currency transfer to make and would like to save money when buying or selling Euros then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

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

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

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

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

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

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

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

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

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

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

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

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

Tom Holian teh@currencies.co.uk

 

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

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Tom Holian teh@currencies.co.uk

 

 

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

Could we see Sterling strength?

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

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

When to move GBP – EUR

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Tom Holian teh@currencies.co.uk

 

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

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

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

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

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

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

So what next?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Tom Holian teh@currencies.co.uk

 

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

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

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

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

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

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

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

Dutch Election could weaken the Euro (Daniel Johnson)

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

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

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

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

US Interest Rate Decision

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

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

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

 

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

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

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

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

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

If you would like further information on sterling Euro exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk