Tag Archives: Award winning exchange rates

GBPEUR breaches 1.15

Its been a fantastic day for the pound and GBPEUR exchange rates have breached 1.15 and remained above the key threshold that many of my clients have been looking to trade at over the last year.

With limited data releases today it is hard to state the exact reasons to why the pound has gained so much momentum, however I believe its because speculators have purchased the pound in anticipation that the Governor of the Bank of England Mark Carney will deliver a press conference this evening and be bullish about the interest rate decision in May.

With average earnings catching inflation many speculators believe the Bank of England will hike interest rates to 0.75% and this is one of the reasons that the pound is gaining momentum alongside the transitional deal being agreed last month. The question is what next?

Personally I am surprised the pound is as high as it is, and I would be extremely tempted to purchase now at a 10 month high. The trade negotiations are set to start in the upcoming months and I expect these negotiations will put severe pressure on the pound.

For further information in regards to GBPEUR currency transfers feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

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

GBP/EUR Forecast – Sterling Struggling to Make an Impact Above 1.15 (Matthew Vassallo)

Sterling has held its been position against the EUR of late but so far has struggled to make any impact above 1.15.

The EUR continues to find support around this threshold, as it has done every time it has been tested over recent months.

There is no doubt the Pound has gained a foothold following a strong run of UK economic data and progress in Brexit talks but is the Pound likely to break through the current levels any time soon?

Whilst it is impossible to predict exactly how the markets will evolve, any clients with an upcoming Sterling currency exchange to execute should be wary about assuming that the Pound’s upward will last. Despite the UK and EU agreeing on terms for a transitional period ahead of the UK’s inevitable Brexit, this agreement has simply kept the ‘wolf from the door’ for another couple of years.

There are still many unanswered question regarding the UK’s future trade status both with our European neighbours and globally and as such I feel the Pound is still likely to be handicapped over the coming months, at least to some extent.

Looking at the Eurozone itself and its economy continues to perform admirably, with the European Central Bank (ECB) likely to tie up their current monetary policy programme before the end of this year. If this dopes happen it is a show of strength and again it means the ECB no longer feel the Eurozone economy need propping up.

In the short-term UK data tomorrow in the form of Manufacturing & Industrial Production figures is expected to be mixed, so it unlikely the Pound will receive much support following these releases, unless of course they come out above the markets predicted result.

If you do 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.

GBP/EUR Forecast – Sterling Recovery Softens (Matthew Vassallo)

UK manufacturing data came in slightly better than expected yesterday but GBP/EUR rates have remained fairly flat this week.

The Pound reached a high of 1.1473 today before retracting slightly but has struggled to make any impact above 1.15 against its EUR counterpart.

The catalyst for Sterling’s recent improvement was confirmation that UK & EU have all but agreed on the terms for a Brexit transitional deal. This positive spike has softened over the past week, with the long-term uncertainty around the UK economy still handicapping any major sustainable advances for Sterling.

Whilst the recent news has helped to alleviate many of the concerns that the UK was going to be left in a state of economic limbo following our separation, investors remain wary about the UK’s position post Brexit. A strong Eurozone economy is also helping to support the single currency and as such the EUR has found plenty of support around the current levels.

Despite a positive run of UK economic data the Pound cannot seem to break free from its shackles and with trade talks underway between the UK & EU, could we see further pressure on the Pound over the coming weeks?

With the Bank of England (BoE) giving indications that they may raise interest rates over the coming months, there is certainly a reason for those clients holding Sterling positions to feel more optimistic than in recent times.

However, with many unanswered questions and only fragile confidence in the UK economy, it may be prudent to protect any short-term GBP/EUR currency positions. 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.

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.

GBP/EUR Forecast – Has the Pound’s Recent Run Come to an End? (Matthew Vassallo)

GBP/EUR rates have dropped back below 1.14 this morning, with the Pound’s positive trend cooling over the past 24 hours.

Those clients holding Sterling positions would have been watching last week’s movements with increased interest, as the Pound made significant gains across the board.

Sterling’s value was boosted against its Euro counterpart, following a strong run of UK economic data. Positive Unemployment figures, strong Retail Sales numbers and an indication from the Bank of England (BoE) that they may look to raise interest rates over the coming months, all helped to drive investor confidence and the Pound benefited as a result.

This positive sentiment helped pushed GBP/EUR above 1.15, which were some of the best levels seen in the past 12 months.

However, as so often has been the case in recent times this spike has been difficult for the Pound to sustain. Whilst there is no doubt Sterling has found a foothold against the EUR since the turn of the year, it is struggling to make any sustained impact above 1.15 against the EUR.

This slight downturn since the start of the week has come about despite this excellent run of economic data and also an agreement in principal, regarding the stats of the UK during the Brexit transitional period.

Whilst there are still some details to be ironed out, it seems as though the UK will have full access to the single market & customs union. This will help to alleviate any immediate concerns regarding trade deals outside of the single bloc. It will also give the UK a further two years grace, in order to put measures in place to soften our exit, when it finally comes to “cutting the cord”.

Whilst this news was taken as a huge positive and allowed the Pound to break through 1.15 against the EUR, it has not manged to sustain this improvement and to me this is the key point.

Whilst the Pound is able to find support in short bursts, the current conditions and long-term market confidence in the UK economy remains fragile.

This is why clients who have a GBP currency exchange to execute should be looking for short-term market opportunities in my opinion, rather than gambling on longer-term improvements.

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.

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.

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.

GBP/EUR Rates Fall Following Brexit Report (Matthew Vassallo)

GBP/EUR rates dropped sharply yesterday afternoon, with the Pound falling back below 1.13.

Once again it seems as though last week’s positive spike was yet another false dawn, with investors risk appetite for the Pound seemingly evaporating.

The Pound came under pressure following a report that the first EU Brexit draft released UK government, has not been received well by the EU or their chief negotiator Michel Barnier.

The Irish border issue remains one of the key sticking points and the reality is that until this is agreed, there will be no transitional period and no soft Brexit.

This has caused investors to panic and pull their funds away from Sterling, which has once again taken two steps back, having been fairly well supported prior to this.

Yesterday’s dropped was a continuation of recent trends, with the Pound seemingly hitting a brick wall once again. Investor confidence in the UK economy and ultimately the Pound is being driven by sentiments around Brexit and the current hiatus and continuous uncertainty, is handicapping any major advances for the Pound.

Despite last week’s upturn if we scratch below the surface all is not well behind the scenes. Reports of a splintered Tory government are not new but seem to be gathering momentum on almost a daily basis now. UK Prime Minister Theresa May was very bullish in her recent public address and her behind closed door meeting with senior Conservative MP’s last week was also meant to be a success.

However, this seems now not to be the case following a report in the Times earlier this week, which indicated three separate cabinet ministers warned May that the current government could collapse this year. Tory rebels could look to back Labours plans for full membership of the customs union, once the UK finally separates itself from the single bloc.

This goes against the PM’s current stance and as such, investors may not react positively to her speech on Friday even if she remains bullish about the UK’s current Brexit position.

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

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

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

GBP/EUR Forecast – Sterling Spikes During Tuesday’s Trading (Matthew Vassallo)

Sterling has found plenty of support during Tuesday’s trading, gaining almost a cent against its EUR counterpart.

This positive move has ended days of stagnation, with the Pound struggling to make much of an impact over the past week.

GBP/EUR rates hit a high of 1.1353 this afternoon, with investor confidence seemingly boosted by a report released earlier today. It indicated that the EU Parliament is set to push for Britain to have “privileged” single market access, giving the UK more flexibility and thus softening our upcoming exit.

Whilst these reports have not been substantiated, they seem to have provided enough substance to act as a potential catalyst for Sterling’s improvement today.

If true they would also go against the EU’s chief Brexit negotiator Michel Barnier, who has fought against any type of open access for Britain once it has removed itself from the EU bloc.

The current market is proving increasingly difficult to dissect, with GBP/EUR rates moving off rumours more than facts. This makes predicting or identifying any trends more challenging for investors and clients alike. I do believe we continue to operate in a short-term opportunist market and as such any clients with an upcoming Sterling currency transfer should be keeping a watchful eye on the current developments.

Looking ahead and tomorrow we have the latest UK Unemployment figures, which against have the propensity to be a key market shifter. With Unemployment predicted to remain unchanged at 4.3%, expect additional volatility on GBP/EUR rates should the official figure be released outside of this remit.

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

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

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

GBP/EUR Forecast – Boris Johnson’s Speech Could Impact Sterling’s Value (Matthew Vassallo)

Sterling has struggled to make an impact against the EUR during the early part of the trading week, with the single currency finding plenty of support around 1.13.

The Pound had threatened to make another move last week following some positive comments last week from the Bank of England (BoE).

BoE governor Mark Carney talked up the prospect of further interest rate hikes if the UK economy stayed on the same track, citing rising inflation as one of the key reasons they could look hike rates.

Whilst he was also fairly positive about the UK economy as a whole, he did draw attention to the fact any major advances were being handicapped by the uncertainty surrounding Brexit. The UK has also gone form the fastest growing economy in the G7 to the slowest, news which is hardly likely to boost investor confidence in the short-term.

This is why it seems that every time the Pound takes a step forward it faces a huge amount of resistance and whilst it has found a foothold against the EUR in recent weeks, any sustainable increase up to or through 1.15, looks unlikely in the short-term.

Looking ahead and there is a host UK inflation data today, which based on last month’s increase does not necessarily bode well for those clients hoping it will have  a positive impact on Sterling’s value.

Tomorrow could also be key with UK Foreign Secretary Boris Johnson speaking on Brexit and his comments are likely to have an impact on the currency markets.

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

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

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

GBP/EUR Forecast – Poor UK Services Data Halts Sterling’s Advances (Matthew Vassallo)

GBP/EUR rates have dropped during Monday’s trading, with the Pound hitting 1.1270 at its low earlier this afternoon.

It had reached a high of 1.1346 but this morning UK Services figure, coupled with some positive Eurozone data has helped strengthen the single currencies position.

Service data is a key component for any economy and this morning’s reading of 53 came out below market expectation. The same data release for the Eurozone showed a reading of 58, which came out slightly the markets predicted result.

Despite Eurozone Retail Sales coming out slightly worse than expected month on month, the EUR is the clear winner today.  It has found plenty of support under 1.13 this afternoon and today’s developments once again throw doubt as to whether Sterling can sustain its recent gains.

Whilst the Pound has generally been on an upward curve of late, it has not yet made an aggressive move towards 1.15.

Coupled with today’s Services figures, the latest Manufacturing data was also below expectation and this has cause investor confidence in the UK’s mini recovery to wane.

One of the reasons behind the Pound’s recent improvement of late has been multiple report of post Brexit trade talks. This has helped remove some of the uncertainty and market fear regarding how the UK economy will evolve post Brexit.

This uncertainty had manifested itself over the past 18 months, which has handicapped any major advances for the Pound over recent months.

UK Prime Minister Theresa May is currently in China discussing a potential trade partnership, news which has probably helped to facilitates Sterling’s improvement last week.

However, with the current Brexit talks entering a crucial stage (where trade deals in particular will be a major topic for discussion), it is currently unclear as to when the UK will be in apposition to negotiate trade relationships with countries outside of the EU.

This means that there will be tangible results for possibly years to come and as such, the current improvements may prove unsustainable in the long-term.

This theory was also backed up by a leaked Government report last week, which indicated that the UK will be worse off after Brexit. The report covered all three Brexit scenarios, including a free trade agreement, access to the single market, or the worst case scenario of no deal being reached at all.

The Government were quick to react and said the findings were only a preliminary assessment but the news is hardly likely to inspire confidence amongst investors.

Therefore despite some positive signs of late, the Pound could come under further pressure over the coming days as Brexit talks start to dominate the headlines once again.

If you have an upcoming Sterling currency transfers 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.

GBP/EUR Forecast – Sterling Stutters Following Leaked Brexit Report (Matthew Vassallo)

It’s been a fairly volatile day for GBP/EUR rates today, with the pair fluctuating between 1.1339 & 1.1425.

This morning’s Eurozone Unemployment Rate came out as expected at 8.7% but did little to shift the markets.

Sterling was under pressure throughout early trading, with the single currency finding plenty of support around 1.14. However, the Pound recovered as we headed towards the close of European trading, despite falling away from the 8 month highs seen last week over recent days.

One of the reasons it came under pressure this morning was a leaked Government report, which indicated that the UK will be worse off after Brexit. The report covered all three Brexit scenarios, including a free trade agreement, access to the single market, or the worst case scenario of no deal being reached at all.

The Government were quick to react and said the findings were only a preliminary assessment but the news is hardly likely to inspire confidence amongst investors. As such the Pound’s value dipped, before its mini recovery during the latter part of the trading day.

Despite this positive recovery, the Pound could come under further pressure over the coming days as Brexit talks starting to dominate the headlines once more.

With phase two talks not under way and trade discussions starting in March, it is a key point in the transition.

The EU have already outlined their position and it did make for positive reading for those driving the UK’s negotiations and with Brexit secretary David Davis already claiming the UK would be opposing many of the suggestions put forward.

The uncertainty of the outcome is likely to put further pressure on the Pound over the coming weeks and beyond and as such, I would be looking to protect any short to medium-term GBP currency positions if feasible.

If you have an upcoming GBP or EUR currency transfers 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.

 

GBP/EUR Forecast – Sterling Closing in on 9 Month High! (Matthew Vassallo)

Sterling has found plenty of support against the EUR during the early part of the trading week, hitting 1.1412 at today’s high.

Despite the EUR finding some support and moving back below 1.14 by the close of European trading, the Pound has been creeping back towards a near 9 month high.

Whilst the current rates may still not look overly attractive based on historical levels, the Pound has certainly seemed to gain something of a foothold over recent weeks.

We must continually  remind ourselves that the goals posts have shifted since the Brexit decision. As a result I feel that the upturn over recent days certainly offers some value to those clients looking to exchange GBP/EUR positions.

This week’s positive move is even more surprising when you consider how poor the UK Retail Sales figures were on Friday and cleints have been aksing what th catalyst was behind this positive spike.

Whilst it’s impossible to give a universal answer, the upturn at least in some part could be attributed, at least in some part, due to a report by the former Conservative Treasury minister Lord Jim O’Neill.

Despite being a vigorous Remain campaigner, he argued that Britain “should prepare for a much more economically optimistically 2018”, citing better than predicated global growth as the reason.

He believes that Britain’s growth forecasts will be upgraded, due to China, the US and Europe showing increased economic activity.

Whilst this view is unlikely to be shared by all, the Pound seems to have benefited as a result.

Personally, my opinion remains unchanged from recent months and that is we are working in a short-term market. Therefore, those clients holding the Pound should be keeping a close eye on the current developments and consider their positon accordingly.

For those clients with a Sterling currency exchange to execute this week, there are some key UK economic data releases to keep an eye on.

The first is tomorrow’s official Unemployment Rate. The rate is expected to remain unchanged at 4.3% but expect additional volatility on Sterling exchange rates, should we see an alternative reading.

Further ahead and all eyes will be on Friday’s UK Gross Domestic Product (GDP) figures. These will likely have a significant impact on the Pound, with an expected growth figure of 0.4% currently being factored into the Pound’s market value.

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

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

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

GBP/EUR Forecast – Brexit Negotiations Continue to Drive Sterling’s Value (Matthew Vassallo)

GBP/EUR rates have remained flat during Tuesday’s trading, with the markets seemingly waiting on the next Brexit report before making a major move.

The pair has remained rang bound of late, with Sterling finding plenty of support above 1.10 but not threatening to break through 1.13 against its EUR counterpart.

UK Prime Minister Theresa May has reshuffled her cabinet in the hope of bringing some stability and in turn some confidence back to the markets. However, investors have not reacted particularly positively to this development and whilst the Pound has found a foothold of late, a sustainable increase against the EUR looks unlikely under current market conditions.

The EUR itself has benefited from a prosperous Eurozone economy, which has exceeded expectation at almost every turn. It seems to have been the currency of choice for investors throughout much of 2017 but whether that trend continues over the coming months, is likely to be hinge on how phase two of Brexit negotiations develop.

With so much market focus and emphasis on the UK’s separation from EU neighbours, any positive strides forward in this sphere is likely to benefit Sterling immensely. Brexit has been a weight around its neck for the past 18 months but personally, I feel any resolution in the short-term is highly unlikely.

It is far more conceivable that negotiation’s will continue to stagnate, as they did during the early stages, and this in turn is likely to handicap any sustainable increases for the Pound.

Therefore I would be tempted to remove any risk from the market and lock in any short-term currency exchange before Brexit negotiations resume.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

GBP/EUR Forecast – Sterling Remains Under Pressure (Matthew Vassallo)

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

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

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

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

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

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

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

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

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

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

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

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

Sterling Rallies Despite Poor Services PMI Figures (Matthew Vassallo)

The Pound has made gains during Tuesday’s trading, gaining over half a cent against the EUR.

GBP/EUR rates hit a high of 1.0939 at the high, with the positive move attributed to today’s poor Services PMI data.

Services data accounts for a large proportion of an economies output and as such, the negative reading sapped investor confidence in the EUR.

This helped drive Sterling value up, despite UK Services data slipping to an 11-year low.

Sterling has found life tough going over recent weeks, as the Brexit stranglehold tightens sapping investor confidence and with it the value of the Pound.

Sterling’s current standing remains fragile and I would be looking to take advantage of the small upturn if I had a short-term GBP/EUR transfer to make.

Any sustained rise in the Pound’s value, would most likely need to be facilitated by a complete shift in market sentiment and investor confidence. With media reports continuing to highlight a dis-jointed approach to Brexit negotiations and in-fighting amongst the government over how best to facilitate our Brexit, grave concerns remain.

Personally, I believe any spikes in the Sterling’s value should be considered as an opportunity. It is unlikely that a major increase will occur until we have some solid information, regarding which direction the UK economy is likely to take over the coming months.

If you have an upcoming GBP or EUR currency transfer to make you can contact me directly on 01494 787n 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.

GBP/EUR Drops Again During Friday’s Trading (Matthew Vassallo)

Sterling has come under pressure once again during Friday’s trading, following poor Manufacturing & Industrial Production figures this morning.

With figures well under market expectation, the Pound was under pressure immediately dropping almost a cent at the low to 1.1281.

Despite a recovery during the afternoon following the NIESR Gross Domestic Product (GDP) prediction.

The well-respected think tank has predicted GDP to grow to 0.3% this month, which if it comes to fruition, will show a steady improvement from last month’s reading.

It wasn’t that long ago that the Pound was creeping towards 1.20 but a complete shift in conditions, has seen the EUR gain almost seven cents at its high.

Despite Sterling finding a foothold over recent days, the current climate both politically & economically inside the UK means that any major upturn is unlikely in the short-term.

We can help our clients pin point specific moments to execute their currency exchanges, even when they are battling a falling market.

The current uncertainty surrounding our fragmented government and grave concerns amongst investors regarding how we will facilitate our Brexit, are two of the defining factors driving Sterling’s value at present.

With both of these issues, in particular the long Brexit process, will be resolved in the short-term and as such clients with a GBP/EUR requirement need to be realistic in terms of what they’re targeting on any exchange.

Clients should also consider any bottom lines, in order to protect their positions wherever possible.

There are no guarantees in the currency markets and with so many unanswered questions, let us help you navigate this turbulent market and maximise any currency exchange you need to make.

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.

 

Where next for GBP/EUR Exchange Rates? (Matthew Vassallo)

It’s been yet another unsteady week for Sterling exchange rates, with heavy losses followed by a slight recovery as we head into the weekend.

GBP/EUR rates have touched 1.14 again this morning, having been trading in the 1.12’s earlier this week.

Much of yesterday’s focus was on whether the Queens Speech would be passed through Parliament and Theresa May was able to breath a huge sigh of relief, as it was passed by 323 votes to 309.

This small majority of just 14 though indicates how close it was to not being approved and if that had occurred surely it would have been the end of Theresa may’s tenure as Prime Minister?

Whether she is able to survive the coming months is being debated fiercely among economists and much will depend on her ability to bring the best out the coalition deal with the controversial Northern Irish DUP party.

The Pound has struggled to make any kind of sustained impact against its EUR counterpart for weeks. Its value has deteriorated in line with the political and economic uncertainty created by the election result and a difficult start to Brexit negotiations.

With so many unanswered questions about how the UK will eventually separate itself completely from the EU and what deal will be left in place, now is not the time in my opinion to be gambling on sustained improvement for the Pound.

The current market instability means that clients should look to protect any short-term gains, with the EUR likely to find support again sooner rather than later.

If you have an upcoming 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.

 

GBP/EUR Forecast – The Referendum Result a Year On (Matthew Vassallo)

A year ago today, the UK public voted to leave the European Union.

The result of this historic vote has been dissected and discussed ever since but are we any clearer as to what it really means to be ‘OUT’ of the EU?

What we do know is that since that day Sterling has struggled to gain sustained market support, with investors questioning how the UK economy will fare over the coming years.

This uncertainty has sapped investor confidence in the UK economy and the Pound has suffered as a result. GBP/EUR have not broken through 1.20 in the past 12 months, with the current levels of around 1.14 becoming a far fairer reflection of the current value on the pair.

Whilst the current cloud of uncertainty means that long-term predictions are becoming almost futile but what I have been advocating to my clients is that they look to protect their positions wherever possible and look for short-term market spikes.

Investors remain extremely sceptical regarding the upcoming Brexit negotiations, with the negative focus seemingly shifting further towards the UK’s side and away from the EU.

Let’s not forget that the EU are losing an integral member of the single member state, with the ramifications of this as yet, remaining unclear.

We also need to consider the current political vacuum, created by the shock general election results. The Pound is struggling against a divided government and a divided country and until we have a clear economic plan in place to move the UK economy forward, I feel that the Pound will continue in its struggle to make any major inroads.

Whilst this is likely to handicap any major advances for Sterling, EU sellers would be wise to take advantage of the current window of opportunity and remove any on-going risk from this most unstable of markets.

Now is the time to contact a personal currency broker and here I can help guide you through this turbulent market. I assist my clients with the timing of their currency transfers, to ensure that any market value is maximised.

We can offer award winning exchange rates & service, which surpass any of our competitors.

Please feel free to contact me if you would like to be kept up to date with all the latest market movements, or simply wish to compare our rates to those of your current provider.

I am available on 0044 1494 725 353 between 08.30-18.00 and just ask one for the team for Matthew. Alternatively, I can be emailed directly on mtv@currencies.co.uk

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.