Will GBPEUR rise further this week?

It is very tempting to track the GBPEUR rate now hoping for further improvements, the rates have risen to some of the best to buy Euros with pounds since May 2017. To understand whether this pair will rise further it is useful to track what has happened so far and understand why. We can then also look at events ahead to make a decision on what is likely to happen.

Overall I don’t expect the pound to Euro rate to rise significantly higher, I think actually there could be a danger the levels will fall back as the enthusiasm for the pound begins to wear off. Whilst there has been progress made with Brexit and the Bank of England should raise interest rates in May, this news is largely priced in now.

This means that any signs events are not going to progress as smoothly as previously believed could disrupt the currency and cause the pound to fall. There is still a huge amount to accomplish for the UK on Brexit plans and there is also many economic conditions for the UK to meet to warrant future hikes, which would cause the pound to rise.

I do now expect rates for Euro buyers to remain favourable but any further good news will probably be met with limited confidence on the rates since the good news is already out there. If you need to buy Euros with pounds then making some plans around the current favourable levels seems very sensible to me.

For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk. Thank you for reading and I look forward to hearing from you anytime and assisting in the future.

If you need to transfer above £10,000 or Euros internationally and wish for some information on the best rates and assistance with the timing and planning of any transaction, please speak to me as above to achieve a preferential rate.

GBP/EUR Forecast – Positive Run for Sterling Cools During Friday’s Trading (Matthew Vassallo)

GBP/EUR rates have leveled out during Friday’s trading, following a busy week of economic data for both the UK & the Eurozone.

The pair is currently trading around 1.1450, with the Pound hitting a high of 1.1534 yesterday before quickly retracting.

Sterling had made impressive gains during Thursday’s trading, with the Pound gaining further value after a positive start to the week.

The catalyst for this improvement was reports earlier in the week that the UK & EU have all but agreed on the terms for a Brexit transitional deal.

This helped to drive investor confidence higher following weeks of stagnation and any progress was always likely to help facilitate a rise in the Pound’s value. It also helped to alleviate many of the concerns that the UK was going to be left in a state of economic limbo, following our separation and as such investor confidence surged and Sterling’s value has mirrored this.

This positive trend was further accentuated on Wednesday following the latest UK Unemployment figures, which came out better than expected at 4.3%, with average earnings also rising by 2.8%. Due to average wages now almost being in line with inflation, the markets started to factor in a prospective interest rate hike, which according to many analysts opinions would be in line with the figures released.

Therefore, yesterday’s Bank of England (BoE) interest rate decision and subsequent monetary policy statement took on even greater significance and the markets reacted accordingly. Despite the central bank keeping rates on hold at 0.5%, two members of the BoE voted in favour of a rate hike this month.

Despite the vote being 7-2 against, it is now far more likely that the central bank will raise rates over the coming months, especially when you consider BoE governor Mark Carney’s comments regarding the subject, which were bullish based on an improved economic performance by the UK.

The run of good data this week also included UK Retail Sales figures, which were released yesterday morning. These came out MoM at 0.8%, which was well above the markets predicted figure of 0.4%. There was also an annual increase to 1.5%, so overall it has certainly been a positive week for UK economic data and the Pound has found support across the board due to this.

However, a word of caution must be heeded to those clients holding Sterling, as this is not the first time the pound has threatened to make significant inroads against the other major currencies. Despite the fact there may be more substance to the recent increase in value, there are still many unanswered question, in terms of how the UK economy will be shaped and perform when it goes it alone.

At a first glance, it seems as though the UK have had to give up a lot of ground to the EU in order to move talks forward, details of which will become clearer over the coming weeks. If the UK is under heavy restrictions during the transitional period, then this could restrict economic growth and opportunities for UK business’s and this in turn would likely heap pressure back on the Pound.

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 winning 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.

Will GBPEUR hit 1.15 again?

The pound to Euro rate hit 1.1520 on the highs yesterday as the Bank of England released their latest meeting summary and interest rate decision. The pound spiked up to this level presenting some of the best opportunities to buy Euros since May 2017. Will this level be hit again and what can clients looking to buy Euros with pounds do to capitalise?

The rates move very quickly and to buy at the highs you need to be prepared. This means highlighting your situation to us here so that we can monitor the rates and track levels for you, this might sounds expensive but it isn’t, it is free. We make our money from any trades we do but can offer an exchange rate which we are positive will save you money over other sources of currency.

If you would like to make any kind of comparison I would be more than happy to speak to you to provide some quotes and discuss the forecast for GBPEUR longer-term.Whilst the positive news from the Bank of England bodes well for the future on GBPEUR the Euro is very strong, the biggest thorn in the side of Euro buyers with pounds is the strong Euro.

To help my clients trade at the higher levels we can offer a Limit order which is an automatic order which will trigger at a pre-determined rate once it is hit. I would suggest an order at 1.15 in the coming weeks may well be hit, if you wish to get an update on the rates please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

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

GBPEUR hits fresh highs!

The pound to Euro rate has risen to some of the highest levels since the May 2017 General Election. This was the last time GBPEUR was trading at the highs we witnessed today, if you have a transfer buying Euros with pounds then making plans around the current market sentiment is a wise move as the enthusiasm over sterling will probably subside quickly.

The pound is doing better against the Euro already on the positive expectations which have been in place for the last few weeks with the best levels now being realised. With the market looking very strong for the pound the prospect for the rate to keep rising higher is probably limited now.

If you have a transfer buying Euros with pounds it is now worth remembering just how fragile positive news can be on the currency markets and how strong the Euro has been in recent weeks. General impressions for the pound against the Euro are also linked to what is happening on the US dollar. The market has been happy to buy up the pounds this week but those sentiments can quickly change next week with more data due.

If you need to buy the Euro with the pound I would consider making plans around the latest news today and considering what your target is. Tomorrow sees the latest UK GDP (Gross Domestic Product) news from the UK, much of the important news has already been released today and this week which might mean a less volatile week.

Nevertheless, it is well worth getting any plans to buy Euros well in place in advance to make sure you don’t miss out on the spikes. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

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

Pound to Euro rate hits a 7-week high before BoE meeting (Joseph Wright)

Sterling has been strengthening throughout the week after news of the Brexit transitional deal being agreed has been met well by the markets.

It will be interesting to see whether the GBP/EUR pair can break above 1.15, because at the moment they are trading comfortably in the 1.14’s and these are around the highest levels for the pair going back as far as June. The 1.15 mark appears to be a ceiling for the pair so far, but there are a number of potential market movers that could push the pair higher.

Later today the start of the EU Summit in Brussels will begin, and the Brexit is expected to be a key talking point for those attending. As previously mentioned the most recent Brexit news boosted markets but it will be interesting to see whether any further commentary this week will affect the GBP/EUR rate. I would imagine that suit sentiments change the Pound will fall as it’s trading at the top end of its current range.

The increase in wage growth has also increased the chances of a rate hike from the Bank of England later this year, with many economists pencilling in May as the next time the Bank of England will opt to make the adjustment.

Some economists even believe that there could be two rate hikes which would most likely result in a stronger Pound as well.

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 Euro close to the best rate this year – What will tomorrow bring?

GBP/EUR exchange rates are now close to the best levels we have seen so far in 2017.

This is due to a number of positive economic and political data releases so far this week and we still have more to come too.

On Monday we had news that the EU and U.K had potentially come up with an agreement on a transition period which was seen as positive by the markets.

Yesterday we had inflation data out for the U.K and this morning we had news that unemployment figures had improved slightly, with most notably average earnings increasing to a level that is now back above inflation.

The reason this is key is that inflation has been above average earnings for a long time now, and that means that the price of goods and services is going up at a faster rate than peoples earnings, meaning the general consumer has less money in their pocket.

Tomorrow we see the start of the latest EU summit and brexit will no doubt be on the agenda so be wary of sharp Sterling movements at any point in the next 24 hours.

On top of this we have the latest Bank of England interest rate decision due out at midday. It would be a surprise to see a change in interest rates this time around, although after all of the positive news I wouldn’t totally rule it out, and the monetary policy statement shortly after should give us an indication on future plans, which would more than likely be confirming that they will be looking at a rate hike in May should nothing happen tomorrow.

If you have an exchange to carry out involving Pounds into Euros, or Euros into Pounds then I can help you achieve not only the best rates of exchange for this but I can help you with the timing of your transfer too.

Feel free  to contact me (Daniel Wright) by email for a free quote and discussion about your transaction on djw@currencies.co.uk and I will be happy to contact you personally.

 

 

Pound Euro Exchange Hits 5 Week High (Tom Holian)

Sterling has hit the best rate to buy Euros in over five weeks after it was announced that the terms of a transitional deal has been agreed.

Brexit Secretary David Davis and EU Chief Negotiator Michel Barnier have agreed the legal text for the transition and this helped the Pound to climb to these recent highs against the single currency providing some excellent opportunities to send money to the continent.

The reason why this has helped the Pound at least for the time being is that it means that we should get some stability during the period between March 2019 and December 2020 as it will mean Britain will continue operating under EU rule during this period.

There is still however the ongoing issue of what will happen with the Irish border issue and until we get some clarity this could continue to weigh on Sterling.

Later this morning UK inflation is due to be released and this could cause a lot of movement for Pound vs Euro exchange rates ahead of the interest rate decision due on Thursday.

At the moment there is approximately a 75% chance of an interest rate hike coming in May so if inflation remains high this could add further support for an interest rate hike to come.

UK Unemployment figures are due out tomorrow morning with Average Earnings published at the same time.

Unemployment levels are close to their lowest level since records began but Average Earnings have been struggling to keep up with inflation.

However, if wage growth increases tomorrow this could also give support for an interest rate hike to the Bank of England so I think we could see GBPEUR exchange rates go in an upwards direction.

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

Tom Holian teh@currencies.co.uk

GBP/EUR Forecast – Brexit Transition Deal Close to Being Agreed (Matthew Vassallo)

The Pound has surged in value today, making impressive gains against the majority of major currencies.

GBP/EUR rates hit a high of 1.1434 earlier this afternoon, which is some of the best levels we’ve seen over the past six months.

The catalyst behind today’s positive spike is most likely the reports, which confirmed that a Brexit transition deal has all but been reached.

The UK’s chief Brexit negotiator David Davis and his EU counterpart Michel Barnier, confirmed that a “decisive step” had been made and investor confidence in the UK economy immediately surged. This in turn boosted Sterling’s value, although the EUR did find plenty of support towards the close of European trading, moving back below 1.14.

Despite the initial positive reaction it seems as though investor confidence cooled, with some key issues still to be resolved. These include the Northern Irish border, which has proved a red herring up until now. Unless an agreement is reached over this, it is likely that we will see further negative reports surface, which in turn could put pressure back on the Pound.

It’s an extremely busy week, with a host of data releases that will be of interest to any clients with a GBP/EUR currency change to make. Tomorrow we have a host of inflation data for the UK, alongside Consumer Confidence for the Eurozone. Considering rising inflation has been a cause of concern for the Bank of England (BoE), tomorrow’s figures are likely to hold a lot of weight with investors.

Wednesday is another busy day with the official UK Unemployment rate, followed by UK Retail Sales figures and the latest BoE interest rate decision and monetary policy statement on Thursday. We also have Eurozone Manufacturing data released that day but it likely that the markets focus will be on the EU summit, which will dominate the majority of headlines. With the next phase of Brexit talks underway on Friday, during the second day of the summit, it is likely that there will be a lot volatility on GBP/EUR rates over the coming days.

As such, it may be worth taking advantage of the current improvement for Sterling, with no guarantees that the current trend will continue as we move through the week.

If you have an upcoming Sterling or Euro 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 winning 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.

Pound Euro rates hit 2 week high after Eurozone inflation data (Tom Holian)

The Pound has as of this afternoon hit the best rate to buy Euros all month following the release of lower than expected Eurozone inflation data published early this morning.

Inflation fell to 1.1% year on year compared to the expected 1.2% and this has caused the Euro to weaken against both the Pound and the US Dollar. Inflation has been a very hot topic for central banks recently and the European Central Bank in particular.

Earlier this month the ECB suggested that it would be looking to possibly bring their current QE Programme to an end towards the end of this year so this morning’s fall in inflation may mean that they will continue to pump money into the market and this is why the Euro has fallen to a 2 week low vs the Pound.

As we go into next week there are a number of key announcements that could affect Sterling Euro exchange rates. UK inflation is the first important release with the latest Consumer Price Index for February released on Tuesday morning.

Expectations are for 2.9% which is still above the target of 2% so another high release will put pressure on the Bank of England to increase interest rates in the near future.

Indeed, the latest odds are 75% in favour of an interest rate hike coming in May. Therefore, I think we could see the Pound rising early next week. This will be closely followed by UK unemployment data on Wednesday and the latest Bank of England interest rate decision on Thursday.

We end next week with the EU summit and as this will cover the Brexit topic I think we could see a huge amount of volatility on GBPEUR exchange rates.

Therefore, if you’re considering making a currency transfer in the near future then feel free to contact me directly for a free quote and I look forward to hearing from you. Having worked 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 directly Tom Holian teh@currencies.co.uk

 

 

 

 

 

GBPEUR rises back above 1.13, where next?

The pound to Euro exchange rate is now looking much more attractive for Euro buyers although there are some fairly large warning signs ahead. The EU Summit next week has plenty of potential to be an upset for the pound as we already know much of the news to be expected. There is a real belief that the pound will now rise on the news of a transitional deal however, maybe this has already happened?

Exchange rates usually move when there is new news or information to be learned. It is the changing fortunes of the currency markets and the global economy which will shape the developments on exchange rates. This is important for next week’s EU Summit because much of the news is know or ‘priced in’ to current levels on the pound. Therefore, any news which is merely a confirmation of what was already planned and expected will do little to move the market.

Having said that, next week could be a choppy one for GBPEUR on many fronts as we have new news on the Brexit with the EU Summit, plus the latest information from the Bank of England with the UK interest rate decision. There had been much speculation that the UK will be raising interest rates later this year, any changes in sentiment (new information) could see movement on sterling. I would expect a more choppy period now on GBPEUR, perhaps seeing levels trading in the 1.11-1.14 range for the next week.

Will we break out of the 1.11-1.15 we have occupied in 2018? I wouldn’t expect so but if anything was going to make it likely, the raft of news next week makes it much more likely!

For up to date information to help you with the planning and execution of any exchanges please contact me Jonathan Watson on jmw@currencies.co.uk.

Thank you and I look forward to hearing from you.

GBP EUR Pushes Higher over 1.13

The pound has made some small inroads against the Euro with rates for the GBP EUR pair breaking over 1.13 this morning. The mood has been slightly positive following the Spring Statement from Chancellor of the Exchequer Philip Hammond earlier this week which has helped support the price of sterling. The upbeat speech certainly didn’t provide any reason to sell the pound and if anything provided some reassurance that the economy is still healthy.

The markets are now eagerly awaiting the EU summit 22nd/23rd March where the transitional arrangements for Brexit are likely to be agreed and finalised. This is widely expected to go through without any hitches and could see some relief for sterling exchange rates. However any gains are likely to be limited considering the much harder task of future trade must be negotiated which is expected to commence at the end of this month. The pound could come under pressure here against the Euro if both sides start with strong red lines and if an agreement seems unlikely. Any risk of a no deal scenario is likely to see the pound come under considerable pressure and cannot be ruled out at this time.

My view is that in the medium term should an agreement be reached that works well for both sides then the pound could see strong gains against all of the major currencies including the Euro. Those clients hoping for better opportunities to buy Euros would be wise to consider taking advantage of any spikes as they happen as there are likely to be many new developments over Brexit that are both positive and negative which the pound will almost surely react to.

Economic data is light today for both the UK and the EU although a speech from a European Central Bank member this afternoon could help shape the future direction of the Euro. Tomorrow however should be more interesting on the data front with EU inflation day. Any pick up in in inflation will almost certainly help boost the Euro.

For more information about sterling or Euro exchange rates then please get in touch with me James at jll@currencies.co.uk

ECB’s inflation concerns weaken the Euro, will GBP/EUR manage to breach 1.13 anytime soon? (Joseph Wright)

The Pound to Euro exchange rate breached 1.13 today before falling back into the later 1.12’s.

Some bearish comments from European Central Bank (ECB) President, Mario Draghi first thing this morning put the Euro on the back foot throughout the day, although it does appear to have some support around the 1.13 mark.

Draghi stated that there needs to be further evidence that inflation dynamics are moving in the right direction before the ECB will consider ending its extensive quantitative easing programme which appears to have disappointed the markets.

Aside from this issue data this morning showed that there have been contractions in EU employment, and industrial production figures also disappointed out of the EU as figures showed much weaker performance in January than expected.

The Pound on the other hand has been boosted recently as fears surrounding the Brexit and the transitional deal have subdued somewhat. I do think that those planning on making a currency exchange involving the Pound should be aware that details of the transitional agreement are due to go public within the next 10 days so it’ll be interesting to see how GBP exchange perform in the wake of that news.

There is a quiet end to the week scheduled for UK economic data so it’s likely that politics will remain the main mover of GBPEUR exchange rates. If you would like to be notified should there be a spike between GBP/EUR, do make me aware.

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.

 

EU summit to have major influence on GBPEUR exchange rates

Yesterday GBPEUR exchange rates spiked close to 1.13 off the back of the Spring budget update. Chancellor of the Exchequer Philip Hammond, as expected, announced that the Office for Budget Responsibility (OBR) have increased growth forecasts for the next 12 months up to 1.5%. Interestingly the OBR actually only cut the growth forecast from 1.5% to 1.4% at the Autumn budget, which shows the UK economy has performed well over the last 6 months.

For people that are converting pounds into euros or euros into pounds, over the last 3 months exchange rates have been range bound by roughly 3 cents. On a daily basis we are receiving positive and negative news from the UK and EU. For example, Brexit updates are varied, European growth is fantastic however there is a concern due to the Italian election result, so it just shows why GBPEUR exchange rates are up and down like a yoyo.

As a currency trader, it is my responsibility to keep my clients informed about market movement. For most people that are converting GBPEUR, they will be working throughout the day and do not have the time to watch exchange rates and that’s where I come in. If you want help in regards to timings and also to receive fantastic exchange rates feel free to email me directly drl@currencies.co.uk.

Looking ahead the EU summit next week has the potential to have a major influence on GBPEUR exchange rate. The UK had planned to have had the transitional deal sorted before the summit therefore we should expect a few announcements surrounding the transition over the next 7 days. Furthermore, exchange rates will fluctuate next week and it all depends on what is actually said. I’m optimistic that the EU will allow the UK to start discussing trade early next month and therefore I wouldn’t be surprised to see GBPEUR reach the higher end of the 3 cent range we have been experiencing over the last 3 months.

GBP/EUR exchange rates still range bound – Data tomorrow to impact Euro exchange rates

So far this week we have still seen GBP/EUR exchange rates remain in the same range of 1.12 – 1.13 with no major threat of breaking out.

Tomorrow we have a number of releases that do have the potential to change that, all from the Eurozone.

European Central Bank president Mario Draghi is due to speak tomorrow morning at 08:00am and ECB member Praet is due to follow up with a speech at 08:45am. Any comments from either member that hint towards any fuiscal changes in the coming days, weeks or month could lead to volatility for Euro exchange rates.

Later in the morning we have industrial production figures, employment change and the ECB vice president Vitor Constancio and any one of these three have the potential to move the markets, industrial production figures are due to have come down a little which may weaken the Euro, employment change is also expected to have fallen too so we may see a little weakness for the Euro in the morning should these expectations be correct.

Towards the end of the trading week on Friday we have Consumer Price Index or CPI figures due out from the Eurozone and this might lead to a volatile finish to the week for Euro exchange rates in what looks on paper like a reasonably quiet week for economic data releases, key speeches and Brexit based news.

If you are generally busy a lot of the time and you do not have time to watch the market then a proactive and reliable broker should be able to do this for you, if you would like me to do exactly that then you are more than welcome to get in touch with me directly. Having worked in currency exchange for over a decade not only do I understand the importance of keeping clients up to date with market movements, but also how much difference timing a transaction correctly can make.

If you would like my assistance, feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be happy to get in touch with you directly.

Will the Spring statement cause market volatility? (Daniel Johnson)

Will there be any surprises from Hammond?

Philip Hammond, UK Chancellor of the Exchequer is due to deliver the spring statement today. It is expected to be a no frills affair with no big surprises that could rock the markets. I tend to agree with this and I do not expected any breaking changes.

It will commence around 12.30pm and is due to last around 20 minutes. Hammond has stated  that no other major economy has two major fiscal set-piece events a year and “neither should we”.

He also added “If unexpected changes in the economy require it, then I will, of course, announce actions at the Spring Statement. But I won’t make significant changes twice a year just for the sake of it.”

I doubt this will have a significant impact on Sterling.

Single Market access for UK financial sector could be a point of contention

The key market mover will still be Brexit talks. The uncertainty surrounding single market access for the UK financial sector is probably one of the most significant point of the whole negotiation process. French Politician, Bruno Le Maire has stated that the UK will be forced to utilise a political mechanism know as equivalence. Equivalence gives countries outside the EU access to the single market for limited periods, when and whether they will have access is dictated by Brussels. Access can be revoked at any time.

May’s proposal for a mutual recognition situation with free single market access has been flatly denied. This does not bode well for the Pound.

If you have a currency requirement I will be happy to assist. It is crucial to be in touch with an experienced broker if you wish to maximise your return. If you let me know the details of your trade I will endeavour to produce a free, no obligation trading strategy for you. If you have a trade to perform I will also happily provide a free quote and I am confident our rates are among the best in the industry. I would be willing to demonstrate this in form of a comparison with any competitor.

You can trade in safety knowing you are dealing with company FCA registered and one that has been trading for 16yrs. Foreign Currency Direct PLC.

If you would like my assistance I can be contacted at dcj@currencies.co.uk. Thank you for reading. Daniel Johnson

Spring Statement and the impact on Pound Euro rates (Tom Holian)

Sterling Euro exchange rates have made a positive move during today after a difficult few days last week when GBPEUR exchange rates hit their lowest point to buy Euros in 3 months.

Chancellor Philip Hammond is due to hold the Spring Statement tomorrow and although the main topics will be covered in autumn this could cause some volatility for the Pound vs the Euro during tomorrow’s trading session.

According to some sources the budget deficit for the UK is the smallest in over 15 years with Hammond commenting that ‘there is light at the end of the tunnel.’

The debt is currently 86.5% of GDP and this is clearly higher than the UK government would like so things will need to be done in order to reduce the amount.

There is however a clear risk to what is happening with the latest Brexit talks and with the EU summit due to take place on 22-23 March I think this is really what the currency markets are waiting for.

As yet the transitional period which takes places between March 2019-December 2020 has not yet been formally agreed so things are still very uncertain for what will happen next between the UK and the European Union.

Make sure that if you’ve got a currency transfer looming that you’re prepared for how the market may move during the Spring Statement due at 1130.

For further information about what is happening with Pound Euro exchange rates at the moment and if you need to make currency transfer then contact me directly for a free quote and I look forward to hearing form you.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as helping you with the timing of your transfer.

Email me directly Tom Holian teh@currencies.co.uk

Sterling makes minor gains against the Euro as the week nears an end

GBP/EUR exchange rates have slightly risen as the week nears an end, following on from one of the least volatile weeks for Sterling exchange rates that we have seen in over two years, with GBP/EUR in particular being range bound between 1.1150 and 1.1270.

The end of week spike appears to have been caused by news following the ECB (European Central Bank) interest rate decision which came out yesterday.

Markets had expected a decision on signalling the end of QE (Quantitative Easing) in the April meeting, but it appear that now will be pushed back to June or July according to reports on Reuters.

QE is generally seen as a negative for a currency, so any news that may signal the tapering or end of the QE program from the ECB would more than likely be seen as a positive for the currency, and any lengthening of the program or delays in the tapering of it can lead to Euro weakness, as we have seen this afternoon.

The start of next week is reasonably quiet in terms of economic data for both the U.K and the Eurozone but that does not mean that the rates will not move, with on-going Brexit talks absolutely anything can happen at any time with this particular currency pairing, and if you are in the position where you may need to carry out a large exchange between the two currencies then you need to be prepared to move should an opportunity arise.

If you are generally busy a lot of the time and you do not have time to watch the market then a proactive and reliable broker should be able to do this for you, if you would like me to do exactly that then you are more than welcome to get in touch with me directly. Having worked in currency exchange for over a decade not only do I understand the importance of keeping clients up to date with market movements, but also how much difference timing a transaction correctly can make.

If you would like my assistance, feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be happy to get in touch with you directly.

The French cause unrest in Brexit Talks (Daniel Johnson)

Concerns over UK Financial Sector could weigh on Sterling

The French are making things difficult for the UK in Brexit talks. French Economy Minister, Bruno Le Maire has stated there is very little chance of Britain securing a free trade deal for the financial services that would provide the level of access the UK seeks. Le Maire said the UK would have to use a legal mechanism known as equivalence. Equivalence allows countries outside the EU limited access to the single market, controlled by Brussels, access can be revoked at any time which would certainly not sit well with large financial firms. Indeed Goldman Sachs has already started moving UK employees to Frankfurt due to the uncertainty surrounding Brexit.

May’s call for a mutual recognition system which would still give UK financial services access to the single market has already been rejected. Single Market access for financial services is one of the most important points of negotiation in the Brexit process and this could be a major stumbling block. The financial services sector is the UK’s biggest form of tax income.

France’s thinly veiled ploy to turn Paris into the new focal point of financial services is causing real trouble for the UK economy and the Pound as a result.

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 Euro Exchange Rates- Factors to influence GBPEUR (Tom Holian)

The Pound has had a very interesting day today against the Euro following the European Central Bank’s latest monetary policy meeting.

European interest rates were kept on hold as expected but ECB President Mario Draghi suggested that we could be seeing an end to the Quantitative Easing policy in the future.

The ECB said that QE may finish by the end of the year which was seen as hawkish and this sent GBPEUR exchange rates to a 3 month low which is great news for anyone looking to sell Euros to buy Sterling.

Indeed, the EURUSD currency pair also hit a 3 week high. However, Draghi was not all positive and this caused a bit of a bounce for the Pound vs the single currency later this afternoon.

As we head into tomorrow morning the UK releases it latest set of Industrial and Manufacturing Production data for January as well as the latest set of Trade Balance figures for the same period.

Depending on how the data comes out this could cause a lot of volatility for Pound vs Euro exchange rates as we end the week.

Later on Friday afternoon the US will announce the latest Non-Farm Payroll data which measures new jobs created in the world’s leading economy outside of the agricultural industry.

Generally speaking if the data is positive in the US this results in US Dollar strength and Euro weakness so if the data provides evidence that the US is doing well this could see GBPEUR exchange rates go in an upwards direction.

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then feel free to contact me for further information or a free quote.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you better exchange rates as well as helping you with the timing of your transfer by keeping you updated.

Email me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

GBP/EUR Forecast – Sterling Struggling to Sustain any Improvements (Matthew Vassallo)

GBP/EUR rates are floating around 1.12, with Sterling still struggling to make any significant impact against its EUR counterpart.

The Pound came under pressure early this week following poor UK Services data, which came our under market expectation. This inadvertently boosted the EUR’s value, which has already been well supported of late.

Some mixed Eurozone data helped curb any significant losses for GBP but as per the recent trend, every time the Pound has taken a step forward it has hit a wall of resistance and retracted almost as quickly.

With so much emphasis on Brexit negotiations at present, it was always likely that this rather than individual economic data releases are going to continue to drive market sentiment and ultimately investor confidence over the coming months.

The media seems to be cementing this negative perception, with any positive report followed by two or three negative ones and this is one of the main reasons the Pound is struggling to make any sustainable gains against the Euro.

Of course, the Eurozone economy itself has outperformed almost every expectation over the past 18 months, with the European Central Bank (ECB) and its president Mario Draghi lauding their current monetary policy programme as its saviour.

When you look at the UK & Eurozone economies and the current prosperity and outlook for each, it is easier to understand why the pound is facing an uphill struggle at present.

With UK economic data at a minimum this week, tomorrow’s Eurozone Gross Domestic Product (GDP) could hold extra week. Any figure above the 0.6% expected growth could put further pressure on Sterling

If you have an upcoming Sterling 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.