Tag Archives: Bank of England

Mark Carney Delivers Boost For Sterling (Ben Fletcher)

The GBP/EUR rate touched 1.14 after a 1.5 cent boost as Mark Carney delivered hope of an interest rate hike this year. The Bank of England two weeks ago voted 5-3 in favour of holding rates but it was the first time in 7 years that 3 voted for a hike. With inflation on the charge then the bank could be forced into making a decision soon.

Governor Mark Carney also stressed that he would have no choice but to consider tapering back the current economic stimulus. The bank currently purchase billions of pounds worth of bonds through quanitivativ easing and there’s hope this may slow down. This will be seen a positive for the UK economy and could have a significant effect on Sterling.

What today’s events go to show is how fast the currency markets can move. There has been enormous pressure on Sterling following the UK election and general uncertainty with the Brexit negotiations. This led to Sterling falling to the low 1.12’s this morning, however in the space of 4 hours the rate jumped 1% into the 1.14’s

How can you capitalise on movements?

The speed of the market movement today signifies how hard it can be to make sure you exchange currency at the correct time. Working for a brokerage I am able to help you set rate alerts as notifications. Furthermore set a limit order that means your currency could be automatically bought at your desired level even if the market only reaches the level for a few seconds.

Over the next few days I think it will be unlikely that sterling will find to much more support, however if there was to be a jump into the mid 1.14’s that would see the market at a 2 week high. If you do have a currency requirement and would like to ask any questions about the information above, please don’t hesitate to send me an email at brf@currencies.co.uk.

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

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

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

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

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

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

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

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

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

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

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

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

 

Sterling Gains Recced as Afternoon Unfolds (Ben Fletcher)

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

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

Quiet end to the week for UK Data

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

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

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

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

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

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

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

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

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

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

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

Tom Holian teh@currencies.co.uk

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

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

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

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

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

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

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

GBPEUR rises due to Bank of England (Dayle Littlejohn)

Earlier in the week UK inflation numbers rose to 2.9%, 0.9% above the Bank of England’s target which gave support for the pound and all eyes turned to today’s Bank of England’s interest rate decision.

Each month members of the Bank of England (8 to be precise), vote to decide whether to hike, keep on hold or cut. This afternoon 3 members voted in favour of raising interest rates which surprised the market and GBPEUR exchange rates increased over a cent and therefore made back some of the losses from the shock UK general election decision. Looking further ahead if inflation levels continue to rise over the next 2 quarters I wouldn’t be surprised to see the Bank of England act.

Its a quiet day for economic data that will have a major impact on GBPEUR exchange rates tomorrow. It has been reported that Brexit negotiations will begin Monday morning which surprises me as Theresa May has not formed a government as of yet. Could this happen tomorrow? Once the government is formed I believe this will provide further strength for the pound and GBPEUR exchange rates will start to rise towards 1.15.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other UK brokerages and high street banks.

I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

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

Will the pound to Euro rate continue to rise?

The pound to Euro rate will continue its volatility in the coming weeks as we get closer to understanding just what type of Government the UK will have in the future. Overall expectations for the future remain unclear as we try to understand what Brexit means and what type of  government the UK will have in the future. It appears a ‘hard Brexit’ is now less likely but with 80% of voters having voted for parties who remain committed to Brexit just what will the future entail? With such uncertainty hanging over the market and the pound the GBPEUR rate does seem very much poised to languish at these lower levels, a move further down cannot be ruled out.

Today is the UK Bank of England decision which could well see some volatility on exchange rates, the general belief we would see UK interest rates rising has been fading and concerns are now rising about the problems in the UK economy form Brexit, the outcome from all of this for the pound is no longer a question. The reality is that the economic conditions in the UK are not meeting expectation and we could be well in line for further falls in the value of the pound.

If you have a transfer to make in the future the outlook on the exchange rate is not looking great for Euro buyers. Euro sellers are now looking at much improved conditions and the market could easily favour further improvements. If you have a transfer to make selling Euros for pounds then the current market should not be taken too much for granted.

For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk. I can  provide some insight and information regarding your situation and am very confident I can offer a rate which will save you money.

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

What can we expect from the GBPEUR rate in the coming weeks?

The overall implication for the pound from the UK election is likely to be some turbulence  as we get closer to the actual election, indeed we have already seen close to 5 cents movement between the high and the low since the snap-election was called back in April. Overall the the belief that the pound will rise after the election is I believe a little misplaced, I think there is a real risk the pound could actually fall because expectations will not be met. What I also believe is that the Euro will remain strong and this will continue to weigh on the pound to euro rate and continue to make buying Euros more expensive.

With the pound currently mid range against the euro based on the trends of this year I believe Euro buyers are still looking at some tempting opportunities. With an election comes uncertainty and whilst A strong Theresa May victory would see sterling rise, this cannot be guaranteed. If we look at the last two elections the polls have been wrong and we know that the polls before the Referendum pointed towards a Remain vote. Gambling that the outcome will be favourable for you could prove a costly mistake.

Political concerns in the Eurozone have abated with Le Pen failing to make her mark on the French Presidency and Emmanuel Macron helping to soothe nerves that France might be at threat from the right wing populism that many believed was sweeping across the world. The general belief for the GBPEUR rate is that the pound still remains on the back foot and susceptible to sudden deterioration as the market still tries to come to terms with the Brexit.

If you have a transfer to make buying or selling pound to Euros please get in touch to learn of the best deals and rates plus receive some practical assistance with the timing of any transfer too. Please email jmw@currencies.co.uk to learn more about the rates and services we can offer.

Euro on the charge, where next for GBPEUR exchange rates?

The pound to Euro rate dropped yesterday as UK Inflation data was shown to be rising at a faster pace than thought and this piles pressure on UK consumers. With consumers in the UK making up a large degree of the financial activity since Brexit, consumer behaviour is crucial to where the UK economy and sterling exchange rates ultimately heads.

The biggest factor for the Euro is at present is improved political news and also economic news. Eurozone GDP was confirmed at 0.5% yesterday and Emmanuel Macron made headway in forming a cabinet which has dispelled some of the fears relating to the Euro over the last few weeks. The economic outlook in the Eurozone is looking much more positive and with Angela Merkel’s party also faring well in the recent elections, much of the political fear and worry over the Eurozone is being neutralised.

This represents a shift as Donald Trump begins to encounter problems with not just the US economy but also politics coming under fire for leaking information to the Russians and also for firing the head of the FBI. The UK too is struggling politically, whilst Theresa May should win the election in June there is uncertainty there over just how it will effect the Brexit.

So all in all the Euro is benefiting from uncertainty elsewhere. I expect this trend to remain as we get closer to the UK election and Donald Trump continues to dance to his own tune with no tangible benefit to the US economy. GBPEUR could easily drift lower now down to 1.14 or 1.15 as we approach the UK election.

Today we have key data with the latest Unemployment figures for the UK so if you have a transfer to make please keep your eyes peeled for this morning’s data at 09.30 am. All in all if you have any currency transfers to make understanding the market and all of your options is key. For a detailed analysis of your position and how we might be able to help please contact me Jonathan Watson by emailing jmw@currencies.co.uk.

Pound to Euro exchange rates take another dip following poor inflation figures (Joshua Privett)

Pound to Euro exchange rates have unfortunately taken a further tumble this morning as fears about inflation appear to be manifesting.

There is a very intimate relationship between interest rates and inflation which is why Pound to Euro exchange rates did not fare too well today when it was revealed inflation growth appeared to be ‘petering out’.

Growing inflation is a concern for Central Banks, as this suggests that prices are ‘running away’ from the ability for consumers to buy. A common tool to combat this is to conduct interest rate rises to curb spending by increase the incentive to save – in turn keeping prices lower.

The secondary effect of this is that the Pound tends to get a bit of a boost. If interest rates rise then holding Pound’s produces a higher yield, and this means you should normally see its value rise due to increased demand.

However, inflation is not rising fast enough to justify this, and it has lend credence today with the confirmation of the inflation rate that it is unlikely the UK will be seeing an interest rate hike.

This negative outlook for the Pound fed into markets immediately today, which is why GBP/EUR tumbled to begin today’s trading session when the news came out at 9:30am.

This will likely be the dominant narrative moving forward this week, so Pound to Euro buyers may be wise to move sooner rather than later to avoid a difficult day when buying an upcoming currency requirement.

This will likely dictate Sterling rates for the rest of the week, so anyone planning a transfer can contact me on jjp@currencies.co.uk to discuss a strategy for your transfer based on the outcome aimed at maximising your currency return, whether this be buying or selling Euros.

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

Pound to Euro rate hits one-week low as Bank of England lowers growth forecast (Joseph Wright)

The Pound to Euro exchange rate has dropped to its lowest level in a week yesterday as data from the disappointed.

The Bank of England (BoE) slashed its growth forecast as yesterday’s quarterly inflation report confirmed that inflation levels within the UK will soon outstrip earnings growth. Sterling has dropped below 1.1850 this morning as the softening of the Pound continues although the currency is still towards the top of the current trading range.

Those considering a Sterling transfer should bear in mind that earlier this week analysts at Lloyds bank downgraded their GBP/EUR price target from 1.18 to 1.16 at the end of 2017. This level is below the Pounds current mid-market value, so it seems that some professionals expect the pound to fall as the year goes on.

I also think that if it surfaces that Brexit negotiations have begun badly, we could see a sell-off for the Pound as the setting up of new trade agreements is likely to be the governments priority as the UK enters a time of uncertainty. Now that economic data is playing a more prominent role in the value of the Pound it’s certainly worth paying a close eye on data releases as they’re impacting Sterling rates to a greater extent than last year when politics played a greater role.

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.

Will GBPEUR rates rise to 1.20?

It is now looking much less likely but remains a distinct possibility. The overall expectation for the market is that we may possibly see a higher pound but there does definitely remain a risk the pound will slip from the recent highs as the Euro is stronger and might strengthen further as we get the result from the French election. It is now apparent just how much the French election was priced into the value of the Euro as we got Sunday’s results. The market now appears to believe that Macron will win but there is always the chance of a surprise.

On balance, if I was buying Euros I would be looking to move sooner than later ahead of the results from the French election. The expectation for the market is that we will see the Euro gain against a weaker pound. June sees the UK election which is more than likely to contribute to a weaker pound, the overall impression is that Theresa May will win but that doesn’t mean sterling wouldn’t suffer as we get closer to the result. The market will have to debate the likelihood of that victory against the strength of any majority, in recent years the polls have been very wrong!

The pound has recently struggled to break the 1.20 barrier and has also failed to rise above this level at every attempt since the June Referendum. The likelihood of 1.20 is now obviously higher than a few months ago but a challenge above this level will not be easily completed. It will take a big chance of sentiment so if you have a transfer to make buying Euros taking stock of current levels is I believe very sensible.

If you have a transfer to make buying or selling the Euro or pound then the next few weeks will be key! For more information to help with the planning and execution of any currency exchanges please don’t hesitate to contact me, Jonathan Watson, directly on jmw@currencies.co.uk.

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

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

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

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

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

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

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

 

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

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

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

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

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

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

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

 

Will GBPEUR rise or fall on Article 50?

We now finally have a date for Article 50 to be triggered and are expecting some big swings on the market as investors digest the outcome. The pound could possibly rise but I think in the end this will be a sterling negative event. Expectations over the outcome remain constrained to the likelihood that the market is viewing Brexit in a negative light. If the pound was to benefit so much from Article 50 being triggered why has it lost between 10 and 15% of its strength the vote last June?

The counter of course to this argument is that much of the weakness is priced in and we will actually see some movement higher as a relief rally. My greater concern for sterling, however, is the new set of questions we will be faced with once the Article 50 is invoked. What kind of deal will the UK get and how much is the Brexit bill will all weigh on the pound and makes anticipating the next moves tricky as the market tries to digest just what is happening and how it feels.

Overall I do believe the pound is likely to struggle and any Euro weakness we see as a result of the French election will ultimately be neutralised by a weaker pound in this period. We are gearing up for a very volatile period and with the 29th March now set as a date for the triggering of Article 50, all eyes will be on the pound and what may happen.

If you have a transfer to consider involving buying or selling the pound it is well worth making some plans in advance to navigate the uncertainty. We are here to help with proactive assistance to help you achieve your desired higher exchange rate. For more information at no cost or obligation please speak to me Jonathan by emailing jmw@currencies.co.uk.

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

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

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

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

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

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

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

Will GBPEUR continue to fall? (Dayle Littlejohn)

It’s been a terrible month for Euro buyers and I am far from surprised. GBPEUR exchange rates have dropped over 4% since the start of the month and therefore central levels have breached 1.14s. To put this into monetary terms a €200,000 purchase is now £7,500 more expensive.

If you are a regular reader for weeks I have been stating that March would be a tough month for the pound as UK Prime Minister is set to trigger Article50 at some point. It was reported towards the end of last week that MPs within the House of Commons will debate the House of Lords amendments and Theresa May could trigger Article50 as early as next Tuesday.

For euro buyers I expect rates of exchange to continue to slide this week therefore if you are needing to purchase I would recommend sending my your requirements today and I will give you a call first thing Monday morning to disucss your transfer drl@currencies.co.uk.

In other news the Bank of England are set to release their latest interest rate decision Thursday afternoon. No surprises are expected therefore rates should remain unchanged. However as always when Governor Mark Carney addresses the public expect volatility as he will discuss how Brexit is impacting the Bank of England’s monetary policy.

For euro seller we are closing in to the fantastic rates of exchange that we saw last October and when Theresa May triggers Article50 it is very difficult to predict how the pound will perform in the upcoming months therefore I would take advantage of the gains you would have made this month.

If you reading this website for the first time as you need to convert GBPEUR, 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 Monday morning and ask to be put through to Dayle Littlejohn.

If you are already using a brokerage and would like to a free quote email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands.

Will the prospect of a Marine Le Pen Presidential win in France boost the Pound’s value? (Joseph Wright)

Up until yesterday afternoon the GBP/EUR pair had struggled to break above the 1.18 mark, but yesterday Sterling surged all the way up to 1.19 at one stage after benefiting from a weakening Euro.

The Euro weakened across the board yesterday afternoon after far-right French Presidential candidate Marine Le Pen gained further traction in recent opinion polls, with the candidate now a realistic candidate for the Presidency after becoming a favourite.

Moving forward I expect her increase in popularity to weigh on the Euro’s value as she has previously outlined plans to withdraw France from the Eurozone. Moreover she has also suggested that France stops using the Euro and reinstates the French Franc. Should these plans materialise it would surely leave the door open for other Eurozone nations to follow suit which would be detrimental for the Euros value, and the potential of this taking place is already weighing on the Euros value.

Another reason the GBP/EUR exchange rate may see a boost is the UK economy has been posting some impressive economic figures, with the Bank of England hiking the UK’s growth prospects this year and next.

If you wish to be kept up to date with GBP/EUR exchange rates related news do feel free to register with us for updates.

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

Will the Pound to Euro exchange rate struggle to break through 1.18? (Joseph Wright)

It’s been an interesting 24 hours for the GBP/EUR exchange rate after some key economic data releases out of both the UK and the Eurozone.

The Pound to Euro exchange rate did break through 1.18 yesterday morning as investors hoped for a high inflation reading out of the UK for the month of January, but as the figure released came out below analysts expectations the Pound was sold off and almost fell below 1.17 at the inter-bank level.

The reason for the fall is there is less likely to be an interest rate hike from the Bank of England whilst inflation readings aren’t surpassing market expectations.

Now that foreign exchange markets appear to have accepted that the UK will go ahead with a ‘Hard Brexit’ and that it’s likely to begin next month, economic data is beginning to have more of an impact on Sterling’s value whereas prior to the UK PM, Theresa May outlining the governments plans it was mostly sentiment that drove the Pounds value.

Interestingly the Pound has since recovered from yesterday’s fall and the GBP/EUR pair is currently trading around the 1.18 mark once again. It will be interesting to see whether this level will act as a resistance, and I think any readers with an upcoming currency requirement involving the converting of Pounds into Euros may wish to consider the current levels as we could see a fall in the Pounds value as the Brexit begins.

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