Tag Archives: best exchange rate

Eurozone Inflation To Cause Volatility (Ben Fletcher)

This morning the latest Inflation data will be released for the Eurozone which should provide an indication as to what the European Central Bank will decide to do in the next few weeks. Many analysts at the moment believe the ECB will start to reduce the amount of economic stimulus as early as September however if the EU economic data is not strong then that’s less likely to happen.

The Euro has been putting significant pressure under Sterling with many investors choosing to back the single markets major currency. There has been considerable growth across the EU with output data at one of its highest in years and future confidence soaring. Most of this strength has come from France and Germany but there also appears to be optimism that the Greek and Italian economies will this year grow.

There is still the small issue of multi-billions worth of bailout funds and it seems incredibly unlikely that those funds will ever be paid back. The Greek pension fund has already been completely raided and the higher tax bracket is considerably over 60%, which makes you think if the economy doesn’t start to grow there is nothing more to give and no more room for squeezing.

Today with the general downward movement of the GBP/EUR I would not be surprised to see the 1.09 level tested.

I am in a position to help you execute a transfer and I am confident I can offer you the best rates. Therefore if you do have a question with regards to my forecast please get in touch. When it comes to moving large sums of money a movement of a cent can often relate to a significant difference in your returns. Helping you formulate a strategy could make sure you’re in the best position to exchange currency when the market is in your favor, please contact me Ben Fletcher at brf@currencies.co.uk

The number of GBP to EUR parity forecasts increases, will GBP/EUR hit 1.1 by the end of the year? (Joseph Wright)

The talk of Brexit negotiations beginning badly is having an impact on the Pounds value against all major currency pairs, but it appears that the GBP/EUR rate has been the biggest loser in all of this so far.

Recent comments from David Davis, the Brexit secretary have added fuel to the fire after he revealed that Michel Barnier ‘is getting quite cross with us’. Michel Barnier is the EU’s chief negotiator which just goes to show that the UK going to need to get a move on regarding its Brexit negotiation plans.

With there being less likelihood of an interest rate hike this year from the Bank of England now that inflation pressures have subsided there have been a number of major financial institutions forecasting parity between the Pound and the Euro in 2018.

In just the last week, Morgan Stanley, HSBC and now City Index have all made this prediction which gives those planning on making a large GBP to EUR transfer a decision to make as the rate is currently just below 1.10.

If you would like to be kept updated regarding the Pound to Euros price movements do feel free to register your interest with me.

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 rise or fall next week?

The beginning of a new month always sees a new set of economic data and next Tuesday we will have the latest UK data for the month of July. The data so for for Construction, Manufacturing and Services for the UK have all been showing weakness since the Brexit and this could be reflected int he data next week which would see the pound lower. Overall expectations for the UK remain subdued, meanwhile the Eurozone is going from strength to strength! If you have a transfer buying or selling the pound and Euro the current rates are at a very interesting point. Euro sellers for pounds have close to a 9 month high, Euro buyers with pounds could easily see levels slip. Both for buyers and sellers there are strong arguments in either direction!

I am expecting GBPEUR could easily trade in the higher levels in the coming weeks but much will depend on just how the trade negotiations are received. The pound has been largely unaffected by the latest developments in the trade talks, I think this is because nothing will be decided for at least a year possibly 18 months. That means sterling is likely to remain languishing as investors await for further news of the talks. Ultimately with no real good news seen in the short term Euro buyers with pounds should be treading very carefully!

If you have any transactions to make in the future then making some plans in advance is very much worthwhile. We cannot just sit back and hope for the best in this market. If you need some information and assistance to help make an informed choice and decision about your FX transaction please contact me Jonathan Watson directly by emailing jmw@currencies.co.uk.

If you need to transfer amounts above £10,000 bank to bank across borders or within the UK I am very confident I can help you with your situation. Thank you for reading and I look forward to hearing from you.

GBP/EUR Short Term Forecast – Will Sterling Strengthen? (Ben Fletcher)

Sterling has been under continuous pressure these past few months presenting the opportunity for people to sell Euros back at some of the best levels in 9 months. Each week the range in which the GBP/EUR rate resides at has fallen nearly a cent suggesting there is more potential for the rate to continue to fall. If you have been waiting to sell Euros back to Pounds and are still holding on, the next month might be the best time.

German Election

At the end of September Germany will head to the polls in what is thought to be a non-event to re-elect current Chancellor Angela Merkel. Whilst Merkel is the major favourite there has been some surprising events that have taken place around the globe in the past year and anything unexpected could create Euro weakness. At the moment there doesn’t really appear to be any major rivals and the concern that Nationalist parties were coming back seems to have died down. Merkel was heavily criticised by many in her own country for welcoming 1 million refugees, however in the light of no other viable leaders her tenure looks set to continue.

From the perspective of the GBP/EUR rate, over the next month we may see some Euro weakness start to creep in due to election uncertainty. But by that point the GBP/EUR may be close to moving below the 1.10 level, which in my opinion would be a best case scenario for Euro sellers.

If you have a upcoming requirement you would like to discuss or ask any questions about the comments please send me an email briefly explaining your requirement at brf@currencies.co.uk. I would be more than happy to share my thoughts and try to help you develop a plan that will enable you to maximise your transfer. I will aim to respond within a few hours.

Will GBPEUR slip below 1.10?

Dismissed as no longer a likely exchange rate the GBPEUR rate has been very close to the 1.10 level as investors take positions on the Euro which represents a much more secure currency versus the GBP and USD. The Euro has risen to a 2 1/2 year high against the US dollar and is currently enjoying close to a 9 month high against the pound. The outlook for the pound and Euro is such that it would not be at all surprising to see GBPEUR below 1.10 very soon. If you have a transfer buying or selling the pound and Euro making plans around this possible scenario is I believe very much recommended.

If you look at what is driving the pound it is obviously the uncertainty over the Brexit and the economic decline this has caused. More recently the pound had been higher on the prospects of the Bank of England raising interest rates but this is not materialising. Last week Inflation dropped leading to the pound dropping as this effectively rules out any UK interest rate hike in 2017 or maybe further.

There are no guarantees over an interest rate hike for the UK in the future and it is a dangerous gamble for clients buying Euros to be holding back from a purchase just hoping that rates will rise in their favour. Most clients looking to buy Euros should be preparing for further losses as this could easily fall lower.

The Euro is much stronger as politics and economic supports the Eurozone. Expectations on GBPEUR could easily the rate below 1.10, if you have a transfer to make buying or selling Euros for pounds making some plans in advance is wise. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk

UK Data and Carney to Dictate GBP/EUR (Ben Fletcher)

This we will see a whole flurry of UK data including the Producer Price Index along with the latest Consumer Price Index. The CPI data which currently sits at 2.9% compared to this time last year, is a key indicator of inflation levels. If this level moves above 3%, which it isn’t expected to however the recent climb would suggest other wise, he market could move. If inflation continues to rise faster than average earnings consumers will start to feel the pinch, however the Bank of England could have a solution.

Governor of the Bank of England is expected to deliver a speech just after lunchtime today discussing his latest thoughts on the UK economy. The big question for investors at the moment is the potential of a UK interest rate hike in the short term. The Bank of England can encourage people to stop spending by raising interest rates, alternatively if people start to save more that has consequences on retail as a whole.

There is a very fine balance with so much uncertainty surrounding namely Brexit. Whilst the data and speeches are happening in the UK, David Davis along with his Brexit negotiations team are sat around a table with the EU team. We’re not likely to see any outcomes to the talks in round two of discussions, but we may receive news that the talks are going well and any concessions for Sterling will be seen as positive.

When the markets are this volatile there will always be spikes and drops, making timing a transfer vital to maximise your funds. If you have any questions with my forecast above or would like to simply discuss an upcoming requirement you have please send me an email to brf@currencies.co.uk. I would be happy to share my thoughts with you and I may be able to offer a viable solution to help you complete a trade, as I have several years experience working for a brokerage

GBP/EUR Back Above 1.14 (Ben Fletcher)

Sterling’s positive end to the week continued all the way to the close of business this evening as the GBP/EUR rate shot up to a high of 1.143. This has come as a considerable surprise following the fall to 1.118 on Wednesday, which convinced many further losses were on there way. Now that there has been a resurgence in the rate, the rise to 1.15 is a hot topic. The last time the rate reached that level was 6 weeks ago and that was only available for a few hours.

There is still a considerable amount of uncertainty surrounding Sterling, especially as the Great Repeal Bill is to be released shortly and every opposing party to the Government plans to challenge their plans. However some of the major concerns appear to have taken a slight back seat and at least for the last 48 hours no new negative headlines have appeared. It’s thought that earlier in the week Sterling was oversold as markets became over pessimistic on the UK conditions, with that in mind the recent jump is just making up lost ground.

GBP/EUR, where to next?

Now that we have seen favorable Sterling the movement the next step will be a jump above 1.15. This week we saw members of the Bank of England talk down a interest rate hike in the near future which was the main cause of the GBP/EUR rate dropping over a percent. Arguably if there was to be talk of a hike, that percent may return which would see a jump to the 1.15’s.

If you have any questions with regards to my forecast above please don’t hesitate to contact me. I would be more than happy to discuss your requirement and provide a strategy that will work for your unique needs. I may also be able to offer a potential method of completing the transfer. Please send me a brief description of what you’re looking to do at brf@currencies.co.uk

 

GBP/EUR, Calm Before the Storm? (Ben Fletcher)

Yesterday the GBP/EUR rate hardly moved half a cent across the whole of the day with very little changing in the market. Until the drop on Friday due to poor economic data for the UK, the rate had spent most of the week hovering around the 1.14 mark. This morning the rate is back above 1.13 and in my opinion there could be a opportunity for the rate to lift a little today.

MPC Members Speak Today

Two of the nine Monetary Policy Committee members will speak today Andy Haldane and Dr Ben Broadbent. The MPC are thought to be investigating whether a interest rate hike would be beneficial for the UK in the short term future. The two committee members who vote with the other 7 will provide their insights, if they’re hawkish and suggest a hike may happen that could provide market optimism boosting Sterling. Alternatively Andy Haldane is returning for his second stint on the MPC and was previously known for his Dovish attitude. There is of course every chance this is a non-event, but with little positivity around for Sterling any spikes in the market should be capitalised on.

In my opinion over the course of the next few weeks the GBP/EUR rate may move back towards the 1.14 but I find it hard to see anything much more substantial happening. The second round of Brexit talks will begin next week and we may get some further updates into how they’re progressing. However Theresa May is coming under so much pressure in the UK, even as much so that MP’s are calling for her resignation. If May was to resign then another general election would only add to further uncertainty and the GBP/EUR rate may drop below 1.10.

If you would like to ask me any further questions with regards to my forecast, please feel free to send me an email to brf@currencies.co.uk. If you send me a brief description of what you’re looking to achieve, I will respond within a few hours. Hopefully I can assist with devising a strategy to help you achieve your goal and potentially help execute the trade.

GBP/EUR Rate Close to 1.15 Jump (Ben Fletcher)

The Sterling Euro rate could be on the verge of a positive upwards movement as a several week high is touched upon this morning. The rate moved up to 1.142 which provided optimism there could be more to come.

Governor of the Bank for England Mark Carney will speak tomorrow and after his speech last week caused over a cent movement that could happen again.

If you’re looking to purchase Euros then tomorrow may present a window of opportunity for you. If Sterling does start to move upwards then I do think it will be a significant jump. The currency has been oversold in the last few months which is why the rate has dropped so low, but there could be a turn of events coming.

Inflation Report Next Week

The UK’s latest inflation report was expected to be released this week however it has been postponed to next week. Inflation data is a double edged sword at the moment; firstly if it keeps rising and wage growth doesn’t it will feel like a wage cut, alternatively if it does continue to rise the Bank of England will be forced to raise interest rates. The home currency when there is a interest rate hike, can often benefit by several percent which could see the rate move back towards the high teens.

If you’re a Euro seller who is waiting to complete a transaction at an even lower level than what is currently available I believe you’re playing a risky game. Sterling seems to have found a resistance at the 1.13 level and would take a serous series of events to fall much lower than this point, never say never but the bottom may have been reached.

Whilst this is quite a speculative plan, but certainly plausible if you do have a more specific requirement please don’t hesitate to ask any questions about the forecast above. I would be more than happy to share my thoughts and discuss what might be the best option for you moving forwards. Please send me an email with a brief description of what you’re looking to do at brf@currencies.co.uk

 

GBP/EUR – Where Next? (Daniel Johnson)

Sterling struggles against the Euro

We have seen gains for Sterling against most major currency pairings  following a government being appointed in the UK. The euro however is proving to be stubborn, with a resistance point at 1.14. I think there will need to be a significant catalyst for GBP/EUR to breach 1.14 and remain above it.

Over the last decade Eurozone positive data has been sporadic and has held back The European Central Bank (ECB) from tapering Quantitative Easing (QE). We have recently however seen positive data more widely spread both geographically and in industry sectors. This is good news for Draghi and could mean we could see tapering sooner rather than later. If this does occur I would expect a sharp rise in Euro strength.

It is not all good news in the Eurozone however, let us not forget Greece, struggling to make debt repayments to the IMF. The debt is so great it seems impossible to imagine a stable Greek economy. If this problem comes in to the lime light this could hinder any Euro advance.

I am of the opinion Sterling is chronically undervalued, before the referendum announcement GBP/EUR sat above 1.40. I think short to medium term it will be tough time for the pound. I think once we have a more stable government and the Brexit stance is clear the pound will have the opportunity to rally. Although leave voters will not be happy, it may be the wise move to  compromise on immigration in order to have market access. This would almost certainly cause a spike in Sterling value. It is a shame we are in this position, it seems the whole reason the UK is in tatters is due to politicians pursuing their own agenda.

The Monetary Policy Commitee (MPC) recently voted on a change an interest rate and there was change in stance with 3 members voting in favour of a hike.  I believe this is not a solution to the rapid rise in inflation. The Bank of England are trying to fight a problem with the wrong tools. Many believe rate hikes drop and fall usually by 0.25%. This is not gospel and rates may move by as little as 0.5%. If there is a change in rates I would expect this to be the choice which would not have a huge impact Sterling value.

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

 

Will GBPEUR rise or fall in July? Important news for GBPEUR clients….

Since the UK election GBPEUR has only moved 2 cents between the high and the low which some would read as boring, I read as opportunity! Clients looking to buy or sell the pound or Euros following say an overseas property purchase or sale, should be preparing for further volatility on the foreign exchange market that could well present some fresh opportunities to maximise their exchange rate. On a €100,000 sale into sterling a cent at current levels is £750 more in the sellers pocket. We work to highlight improvements on the market to clients in such positions to help them make an informed choice about when to execute their exchange.

If you have a transfer to consider buying or selling Euros for pounds getting the timing on your exchange correct is critical to getting the most for your money. With GBPEUR having been trapped in a range between 1.1270 and 1.1468 there has not been much opportunity for either Euro buyers or sellers to capitalise. I have many of my clients who need to buy Euros for an overseas property purchase or to pay business Invoices holding off expecting the rate to recover. And too, many of my Euro sellers are also holding off expecting the pound to crash!

With so many different potential outcomes from the rates being prepared is vital to capitalise on spikes or to limit any losses. A very popular contract type at present is a limit order whereby we look to automatically purchase a currency for you if we do get to a certain level. Popular Limits buying Euros are at 1.15 currently.

If you have a transaction to consider in the future then making some plans in advance is crucial to getting the best deals. We can very easily set up one of these orders to help limit your exposure and maximise the return.

For more information on the GBPEUR forecast and the best way to maximise your rate please speak to me Jonathan Watson to get a full overview and discuss strategy. Please email jmw@currencies.co.uk with an overview of your position to get the latest news and updates.

Queens speech vote to influence GBPEUR exchange rates (Dayle Littlejohn)

As Theresa May failed to win the General Election by a majority the Conservative Prime Minister has been in negotiations with the Democratic  Unionist Party (DUP) and a minority Government has been formed. Members of Parliament will have the final vote on the minority Government later this afternoon.

For Jeremy Corbyn to win and effectively vote down the queens speech members of the conservative party will have to vote against Theresa May and I just cant see this happening. Therefore I expect the minority government to be officially formed by the end of the week which could lead to further sterling strength against the Euro and exchange rates to drift towards the mid teen territory.

Looking further ahead Theresa May’s position as Prime Minister will continue to be scrutinised and I wouldn’t be surprised to see the PM resign in the upcoming 6 months. This view is supported by American Financial Service City Group as they informed all of their clients that they expect Theresa May will resign in the upcoming months due to a Conservative rebellion. If she did resign the new Prime Minister could call another General Election which would weigh down on the pound further.

For further information in regards to GBPEUR exchange rates 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 the options available to you and the process of using the company I work for 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! **

Very important week for GBPEUR exchanges! Both Draghi and Carney to speak!

Clients looking to buy Euros with pounds have been treading on pretty precarious ground as the market continues to fret about the political make up of the UK in the coming months and years. Theresa May’s deal with the Democratic Unionist Party (DUP) did little to spark interest in the pound and with the all important commons vote on the Queen’s speech this week sterling should remain at the whim of political developments. I expect the pound could move in either direction with the Euro as much as 2  cents in the coming week depending on a series of important data and events that are taking place.

If you need to move any currency around then making plans in advance is sensible to avoid being caught out like many have in recent weeks as markets take an unexpected turn! We offer a proactive service to help monitor and track exchange rates with a view helping secure the very best levels. If you have a transfer to make and wish for us some assistance please do contact me to find out more.

There is a light belief the Bank of England are making plans to raise interest rates however with the Governor Mark Carney against the idea we could have quite a battle on for that to become reality. We will really need to see some big shifts in the economic data but should we start to see the economic data improving the case for a rate hike will increase. For the Euro the week is fairly light on data but we do have Mario Draghi speaking who with his comments could easily move the Euro rates.

A higher interest rate makes a currency stronger as it attracts investment into that currency. The mere mention of a hike or speculation of one can do lots to a currency and the back and forth nature of commentary over raising UK interest rates lately has seen sterling to Euro rates see-sawing with the sentiment. Both Carney and Draghi’s comments have the potential to move exchange rates and clients looking to buy or sell large volumes of pounds and euros for say an overseas property purchase or business should be prepared.

This week is another potential choppy one with a host of speakers who will be commenting on the potential for interest rates with Mark Carney due to speak today and tomorrow. Markets will be eagerly awaiting any news on how the Governor is viewing events with his Financial Stability report due today. If you have a transfer buying or selling pounds for Euros I would not be surprised to see movements of 1 – 2 cents as we learn principally of developments in UK politics and economics.

If you have a transaction to consider and wish to get any information on the market or trends then please do speak to me Jonathan Watson by emailing jmw@currencies.co.uk to get the latest insight and assistance with the timing and planning of your exchanges.

 

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

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

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

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

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

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

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

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

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! **

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

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

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

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

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

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

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

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.

Is the Pound to Euro rate trading at the top of its current trend? (Joseph Wright)

Many of our clients planning a GBP to EUR currency exchange have been waiting for some time for the GBP/EUR rate to exceed 1.20.

The pair have been locked between a wide trading range of 1.10 to 1.20 pretty much since the initial shock of the Brexit vote last June, and on a number of occasions the pair have bounced off of 1.20 as the level appears to be acting as a psychological barrier.

Whilst many are playing the waiting game some have based their trades off of mid-market levels in the high teens such as 1.19 – 1.1950 and so far this appears to be the smartest move.

Interestingly analysts at Lloyds bank have recently stated that they believe the Pound is trading at fair value against the Euro at its current levels, and that they aren’t expecting to see the Pound climb much higher.

Personally I think we will see the Pound to Euro rate test 1.20 once again but I think there will need to be a large weakening of the Euro specifically if we are to see the GBP/EUR pair exceed 1.20.

Later today UK GDP data will be released with 0.4% on a quarterly basis the expectation, so expect any deviations from this level to result in GBP/EUR volatility, and feel free to get in touch if you wish to be kept updated regarding this figure.

 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.