Category Archives: Sell Euros

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

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

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

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

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

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

GBP EUR Falls After Mario Draghi Statement (James Lovick)

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

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

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

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

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

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

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

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

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

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

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

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

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

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you. I have worked for one of the UK’s leading currency brokers since 2003 and I’m confident of being able to offer you better rates when buying currency as well as helping you with various contract types.

Tom Holian teh@currencies.co.uk

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Sterling Gains Recced as Afternoon Unfolds (Ben Fletcher)

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

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

Quiet end to the week for UK Data

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

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

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

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

Could a firm Government cause a Pound rally

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

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

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

GBP EUR Before Queens Speech on Wednesday (James Lovick)

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

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

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

Queens Speech – Impact on Sterling

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

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

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

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

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

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

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

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

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

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

I strongly recommend that anyone with a Euro buying or selling requirement should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer. I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on a prospective transfer.

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

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

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

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

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

Therefore, if you need to send money to Europe it may be worth taking advantage of the current rates. If you don’t have the full amount of money available at the moment it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.

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

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

Tom Holian teh@currencies.co.uk

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

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

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

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

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

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

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

Sterling Under Pressure Ahead of BoE Interest Rate Decision (Matthew Vassallo)

Sterling remains under pressure, despite a slight upturn following yesterday’s positive inflation data.

GBP/EUR rates hit a high of 1.1407, before retracting following some positive Eurozone employment data. The UK also had its official Unemployment rate released, with the figure of 4.6% coming out as expected.

The markets focus will now turn to tomorrow’s key data releases. UK Retail Sales and the Bank of England (BoE) interest rate decision & subsequent minutes will take centre stage. Those clients holding Sterling will hoping for a marked improvement on the UK’s economic outlook, with last week’s general election results still handicapping any major advances for the Pound.

However, EUR sellers should also proceed with caution. Any deal between UK Prime Minister Theresa May’s led Conservative party and the unknown and somewhat controversial DUP party could bring with it some political stability and this could help alleviate some of the pressure on Sterling.

Now could be the perfect opportunity to sell any short-term EUR positions and remove any uncertain ty from this extremely fragile and unpredictable market.

The current market is proving increasingly difficult to dissect and as such I am of the opinion that clients both buying and selling GBP/EUR should be looking for short-term opportunities.

On-going concerns regarding our Brexit negotiations are also weighing heavily on investors’ minds and with confidence in are fragmented government hitting new lows over the past few days, I would not be prepared to gamble on which direction GBP/EUR rates may take next.

If you have an upcoming GBP or EUR currency transfer to make 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.

GBP EUR Climbing as Government Deal is Expected Imminently (James Lovick)

GBP EUR has seen a small recovery as the expectation of a deal between the Conservative Party and Democratic Unionist Party (DUP) is expected imminently. This move should bring some confidence to the markets and already some of this positive news is beginning to be priced into the exchange rate.

The Queens speech could create a huge amount of additional volatility as Jeremy Corbyn is expected to make an amendment to it and may try to vote it down which could see additional volatility for the pound. However it is most likely that a deal will be done keeping Theresa May in place as Prime Minister.

UK inflation data yesterday which arrived at 2.9% also helped lift the pound as the prospect of an interest rate increase in the not too distant future is becoming a reality. The Bank of England meet tomorrow and there could be a swing in the votes with another member calling for a hike at this meeting. Whilst no change is expected the minutes of the meeting are likely to give clues as to where future policy is heading and there could be a big market reaction to it.

The Spanish banking sector has come back under the spotlight after Banco Popular had a run on it by its savers which forced a rescue by Santander. Clients looking to sell Euros and bring them back to Blighty away from Spain would be wise to consider taking advantage of the excellent trading levels which are currently available. The pound could see healthy gains after a new government is formally announced and may present win opportunity for those clients that need to buy Euros.

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

Political Uncertainty weakens the Pound (Daniel Johnson)

Conservative failure to win a majority weakens Sterling

The PM  faces more negotiations with the Democratic Unionist Party (DUP) to keep her position as prime minister after losing parliament majority just days before EU exit  negotiations are set to take place. It may have been the case that Theresa May would have been better off keeping her mouth shut rather than try and improve her popularity. It was not a clever move attacking her key voters. She said she would make the elderly pay for their own care homes or home care if they have assets to the value of £100k or above.  This no doubt caused a significant swing in votes.

May’s Downing street office announced  she had spoken  with the DUP to discuss completeing a deal this week. Political uncertainty causes the currency in question to weaken and this is definitely the case in this scenario.

May stated “ We will welcome any such deal being agreed , as it will provide the stability and certainty the whole country requires as we embark on Brexit and beyond. As and when details are finalised both parties will put them forward.”

This could prove to be an opportunity for euro buyers. The UK needs to escape of this political limbo in order for the pound to strengthen. It would be wise to keep your eyes glued to developments in order to maximise your return.

Brussels seems to be prepared to make it tough at the beginning of exit talks. They have requested an exit payment before negotiations can commence. The fee named is on excess of €60bn. This does not bode well for Sterling.

If you have a currency transfer to perform  then I will be happy to speak to you directly as I will be willing to help you both with trying to time a transaction and getting you the best possible rate when you do come to trade. A small improvement in a rate can make a significant difference so for the sake of taking a few minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can contact me (Daniel Johnson) on dcj@currencies.co.uk and I will to get back to you as quickly as possible. Thank you for reading.

 

Best rate to sell Euros to buy Pounds since November 2016 (Tom Holian)

The Pound has now dropped to its lowest level to buy Euros since November last year as the political landscape remains uncertain.

Although the Tories managed to succeed as the largest party they did not win enough votes to form a majority government and at the moment talks are continuing between the Conservatives and the DUP in an attempt to conclude the election result.

The Queen’s Speech has been delayed for a few days until things are sorted out with the initial date of June 19th having now been postponed. The speech is one written by the government and outlines its plans for how it will run parliament during its term.

All this news does not bode well for Sterling Euro exchange rates as uncertainty will often cause problems for the currency involved. Previously when the Tories were forced to form a coalition with the Lib Dems back in 2010 it took almost 3 weeks after the election result to have the Queen’s Speech.

I personally think we’ll see further problems ahead for the Pound against the single currency whilst all this uncertainty continues.

The election result may even delay the Brexit talks which were also due to start next week. Until we have some form of agreement then we will be stuck in limbo so I cannot see the Pound making gains vs the Euro in the short term until things settle down.

Having worked for one of the UK’s leading currency brokers for almost 15 years I am confident of being able to offer you better exchange rates than using your own bank when buying or selling Euros as well as offering you a number of different contract options typically unavailable from your high street bank.

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

Tom Holian teh@currencies.co.uk

 

UK Braces Itself for Election Day – How will GBP/EUR Rates React to the Result? (Matthew Vassallo)

GBP/EUR rates have remained marooned under 1.15 during Wednesday’s trading, ahead of tomorrow’s UK general election.

With recent polls suggesting the Corbyn led Labour party have gained some momentum, the key question now is what is the likely result and how with the markets react to the final outcome?

Whilst the result seems to be more uncertain over recent days, the Pound did find some support earlier this week. It gained over a cent against the EUR following a tough run over the past week.

The markets have been gearing themselves up towards tomorrow’s key vote and it has been the election and the subsequent outcome, which has been shaping GBP/EUR exchange rates over recent weeks.

Investors had clearly factored in a Conservative majority victory but since reports of a 20-point lead last month, each subsequent poll has indicated a decreasing advantage. This in turn has caused investors to panic, with the result being a sell-off of large Sterling positions and a downturn in the Pound’s value.

I’m extremely wary about pre-election polls, especially after last year’s UK referendum and US election results. However, with strong indications that a hung parliament is now a very real possibility, are you prepared to gamble on the result if you have a short-term Sterling currency exchange to mate?

Personally, I feel that the Pound is fighting an on-going uphill battle and any short-term improvements should be protected wherever feasible. Even a strong Conservative victory will only boost the Pound back to the levels we saw a couple of weeks ago, which have already proved unsustainable over recent months.

Looking beyond Thursdays vote and the UK economy still has many issues to content with. The Brexit negotiations have not even started and seemed to have hit a wall, whilst UK growth forecasts for next year and beyond have shrunk.

I still feel based on current market conditions that the downside risk outweighs the current upside gains and for this reason I would be removing as much risk as possible from the current market.

If you have an upcoming GBP or EUR currency transfer to make 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.

Election week is heating up. How will it effect the currency market? (Daniel Johnson)

Labor only 4 points behind the Tories

Labor are now very close in the polls to the conservatives. The latest YouGov poll has a gap of just four points. Historically, during an election the currency in question weakens. As a rule, the more uncertain the outcome, the weaker the currency. The conservatives are deemed as a safer bet for the UK economy than Labor. When the snap election was called we saw Sterling strengthen against the majority of major currencies due the significant lead in the polls. This gap has been cut which is why we have seen the pound drop in value.

If the conservatives gain a majority victory I would expect to see Sterling strengthen. If there is not a majority victory expect further falls for the pound. A hung parliament I would expect to see further falls for the pound. Despite many parties stating they are not willing to form a coalition with particular opposition,I’m sure they will soon change their tunes when they see the opportunity for power. As demonstrated by the Lib Dems in 2010.

If there is a coalition this could cause problems for the pound, parties combined with differing manifestos means getting anything through parliament will be problematic, but the major concern is how this will effect brexit trade negotiations. Potentially, Labor could form a coalition with more than one other party which could be considered worst case scenario for negotiations. I would not expect a pound  recovery in the event of this outcome.

If you have a currency requirement it is absolutely crucial to be in touch with an experienced broker who has traded through similar periods of volatility. We have contract options available that can put you in a position to trade even if your funds are not available, this should definitely be considered for those who are waiting on their Euros to released from other assets. This could be a small window of opportunity.

If you let me know the details of your trade I will endeavor to get back to you within 24hrs with a free, trading strategy to suit your individual needs. If you already have a currency provider I will be happy to perform a comparison and I am very confident I will be able to demonstrate a considerable saving. I can be contacted at dcj@currencies.co.uk. I look forward to being of help.

 

Sterling to Euro rate continues to trade towards the lower end of its current range, will this trend continue? (Joseph Wright)

The Pound is continuing to come under pressure as we get closer to the election, especially as a number of prominent opinion polls this week have shown that the lead the Conservatives had is diminishing with some suggesting that they may not win a majority of seats required.

If the option polls are correct we could be looking at another Hung Parliament in the UK which I believe would push the Pound lower and probably back towards the 1.10 mark.

The current trend for the GBPEUR pair is between 1.1350 up to 1.1950 although a couple of times towards the back end of last year the rate did touch 1.10 twice before seeing support.

A steep drop for Sterling is in my opinion likely if a Hung Parliament is announced, and I don’t think that the current UK Prime Minister has done herself many favours this week by not attending the debates between the political rivals in the race for number 10.

If you would like to be kept up to date with the latest market updates do feel free to register your interest with me and I’ll be happy to keep you updated.

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.

Election news causes the Pound to wobble against the Euro (Tom Holian)

The Pound has slipped vs the Euro during Friday’s trading session as the most recent opinion poll has shown that the lead for the Tories over Labour has slipped to just 5%.

Previously the Tories were showing a huge lead over the opposition and this data release has caused a big surprise to the markets and we have seen rates to buy Euros with Pounds drop to their lowest level in months.

With the Tories previously expected to win by a huge majority this has led to the Pound weakening as any change in the voting pattern has caused concerns for investors.

Generally speaking if the existing government wins it provides another term of financial stability for UK businesses and therefore this is why the change in the poll has caused the Pound to suffer against the single currency.

Immediately after Easter when Theresa May called a snap general election this saw GBPEUR exchange rates challenge 1.20 on the Interbank level and although they didn’t reach that rate this was the highest we had seen the Pound get to vs the Euro since the end of 2016.

The Pound has also been weakening owing to rising inflation levels. Typically the Bank of England would look at increasing interest rates to combat high inflation levels but with the amount of QE having been used in recent years I cannot see any change in interest rates coming anytime soon.

Therefore, the central bank is struggling what to do next in terms of controlling inflation and this is causing problems for Sterling exchange rates vs the Euro.

With less than two weeks to go if you would like to make a currency transfer and save money compared to using your own bank then why not contact me for a free quote. I work for one of the UK’s leading currency brokers and have done since 2003 so I’m confident that a quick email could save you a lot of money.

I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Buying Euro rates soften as markets digest news of Manchester attack (Joshua Privett)

Pound to Euro exchange rates had undergone a further softening into the lower 1.15’s amid an anxious climate in the UK following the Manchester Arena bombing last night.

Rates had previously been falling in response to underwhelming data emerging from the UK economy concerning the diminishing potential for a UK interest rate rise.

This was further compounded by comments made by Angela Merkel, the German Chancellor, yesterday who stated that the Euro was ‘too weak’ and she would like to see it gain value. These are the kind of comments which cause the short-term rally for the Euro.

However, since then, likely due to the likelihood that the situation in Manchester is contained for now, the pressure on the Pound brought out by apprehension forced by the attack abated, and, as such, GBP/EUR exchange rates were getting very close to 1.1 at the time of writing this article.

However, I would not expect this to continue. As the above suggests the underlying trend before the completely horrific attack yesterday was GBP/EUR negative. Without these being addressed it is likely the Pound will continue to remain pressured in the short-term, so Euro buyers should seriously consider their situation and the sensibility in securing an exchange rate sooner rather than later.

As such anyone with a very short-term requirement to buy Euros may be wise to contact me on 01494 787 478 and ask to be put through to Joshua to discuss a live price for your transfer and avoid being ‘last to the party’.

I have never had an issue beating the rates of exchange on offer elsewhere, so a short conversation could save you a healthy sum on your next transfer.

Anyone with a slightly longer term transfer can also contact me on jjp@currencies.co.uk to discuss a strategy for your transfer in the run up to the election aimed at maximising your currency return.