Tag Archives: best exchange rate

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.

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.

 

What next for GBPEUR?

GBPEUR exchange rates could now enter a very important period as we get closer to the French elections and investors take stock of the latest news on sterling. All in all, it appears to be a much more important time on the markets with investors keenly awaiting the latest news on Brexit and the French elections. I personally can see the GBPEUR rate rising on the improved sentiments over the pound whilst the Euro might weaken as we get closer to the French elections.

GBPEUR is actually 4 cents higher today than the lower levels of 2017 which is in itself a great bit of news. The prospect rates might even improve further is even better news! If you have a transfer t make in the coming weeks then understanding the market and all of your options well in advance is vital to making the most of this volatile time.

GBPEUR still has some doom merchants predicting it will drop to parity later in the year, that would not be very good news for any clients looking to buy Euros in the coming weeks. Tomorrow is the latest UK Unemployment data before we head into the long Easter weekend. Friday is Good Friday and Monday Easter Monday so there will be four days of decreased activity and thinner volumes. This can sometimes lead to some unexpected spikes so if you are making a GBPEUR transaction in the next couple of weeks understanding what is happening in advance is a smart move.

GBPEUR rates might rise but there is also a degree of risk, clearly, the Brexit is a risk factor in the days and months ahead. If you have a transfer and wish to get some expert opinion and insight on the markets then please feel free to get in touch with me Jonathan by emailing jmw@currencies.co.uk

GBP/EUR breaks 1.17 as services sector remains strong, will the pair hit 1.20? (Joseph Wright)

The UK economy was given a boost yesterday as data showed that its most important sector is performing well.

Economists had anticipated growth in the UK’s services sector but the figure came out higher than they had expected, and the reason Sterling saw a boost of the back of this data release is because the services sector accounts for around 75% of the UK’s economy.

For this reason data releases reflecting the health of this area of the economy can result is swings within GBP exchange rates. Due to the UK entering what could be considered a sensitive time as Brexit is now underway I expect to see these figures followed closely and I think we may see dips within the Pounds value should these figures disappoint.

Another news release which could be watched closely is Gross Domestic Product figures as these will also reflect the health of the UK economy. The next release comes out tomorrow at 1pm and the expectation is for a figure of 0.6% so expect any major deviations from this figure to result in swings within GBP/EUR exchange rates.

If you would like to be kept updated regarding major movements between the Pound and the Euro do feel free to register your details with me.

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.

 

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.

Pound to Euro rate trades at a 7 week low, will today’s Spring Budget offer the Pound a boost? (Joseph Wright)

The Pound has lost value over the past few weeks, not just against the Euro but across the board of major currencies.

The reason behind the fall can be put down to the uncertainty as to when the UK will begin the Brexit process, and the situation is being made worse as the House of Lords continue to discuss the proposed bill and attempt to make amendments which is negatively impacting the Pound.

Today could be a busy day for GBP exchange rates as Philip Hammond will be going over the Spring Budget. No major changes are expected to the governments current spending plans but I do think a bullish outlook from the UK chancellor will offer the Pound some much needed support. GBP/EUR has lost almost 4 cents in value over the past few weeks after hitting its 2017 high off the back of Euro weakness.

The movements between the GBP/EUR pair in recent weeks may offer an insight into what we can expect between the pair throughout the year. With the Brexit likely to begin this month and a number of key political elections in the Eurozone this year, I think there could be a number of big moves between the pair throughout the year so do feel free to get in touch if you wish to be kept updated.

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 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.

GBP/EUR Where Next? (Daniel Johnson)

House of Lords – Brexit Bill Update

Th Brexit bill is now in the hands of the House of Lords. It is looking likely that there will be no significant amendments to the bill and it will shortly be passed up the ladder for royal approval. Lord Lamont yesterday urged peers not to appose the bill and undermine the UK’s negotiation position. We have seen GBP/EUR up to 1.19 this morning but is now falling back to the mid 1.18s. If you are buying Euros and only have a short term time scale I would consider performing a tranche of your requirement at current levels.

There are some key issues that should addressed, but I think there would be a public out cry from leave voters if there was any delay in the triggering of Brexit. Sterling would also so suffer.

Marine Le Pen gains in the polls

We have also seen Euro weakness as it seems there is an increasing chance of Marine Le Pen gaining power.  Froincois Fillon’s position as front runner to take the French Presidency is now a distant memory following accusations he has employed his wife in senior position and has paid a substantial sums for work that has not been done with tax payers money. If Le Pen gains power, her far-right party may well call for a referendum. Political uncertainty weaken the currency in question at the best of times, but the French election could really hurt the Euro.

If you have a currency requirement I would be happy to assist. If you would like my help you can e-mail me at dcj@currencies.co.uk. I will look at your individual situation and provide a strategy to suit your needs. If you already have a currency provider I will provide a comparison and I am very confident I will be able to show a significant saving. Thank you for reading and I look forward to hearing from you.

 

 

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.

Brexit – Still the Key Market Mover (Daniel Johnson)

Where next for Sterling?

GBP/EUR is still very unpredictable and is susceptible to high levels of volatility. Data releases that normally cause significant movement are proving to have little impact. Brexit negotiations are clearly the main force behind current buoyancy levels on GBP/EUR. UK PM Theresa May yesterday was given the go ahead to trigger article 50 following Labour minister, Harriet Harmen’s attempt to make an amendment to the Brexit bill. The change was for EU nationals to have their rights protected if they are already current residents in the UK.

The bill should now go through without too much trouble from the House of Lords. I would expect a far more thorough plan for exit from the EU to be published shortly. The markets react particularly badly to uncertainty, I feel a new white paper document detailing thoroughly exit plans could add certainty to the market and Sterling could rally. Trade negotiations are pivotal to the strength of the pound. Both Trump and Australian PM, Malcolm Turnbull have been forthcoming in regards to striking a deal. This is without a doubt good news for Sterling. I am however dubious of the current two year target for a full exit. Trade negotiations are anything but simple, the quickest the US has  ever tied up a trade agreement with another country is four years.

Later in the year things could well turn sour for the Euro, despite  small improvements in inflation there is still a lot to worry about for Euro sellers.

Three general elections are due to take place in the Netherlands , France and Germany. All have the possibility of a far right party gaining power. Political uncertainty, historically weakens the currency in question. As does a potential referendum. Italian banks are in need of bailouts due to excessive lending to the tune of over €360bn and lets not forget Greece’s debt crisis.

If you have to purchase Euros short- medium term, you will need expert assistance to maximise your return. I will provide the most competitive spread and a trading strategy to suit your needs, with no obligation to trade. Feel free to e-mail me at dcj@currencies.co.uk. Thank you for reading.

Daniel Johnson

Foreign Currency Direct

Will February be a positive month for the Pound? (Joseph Wright)

The Pound has begun the day positively which could be an indication of how today will unfold, as there is a busy day on the cards for Sterling exchange rates.

Many have coined today ‘Super Thursday’ due to the volume of economic updates which could create volatility between GBP exchange rates. Although no interest rate change is expected the official outcome of the Bank of England’s voting members decision will be announced at 12.00 along with an update on the BoE’s current Quantitative Easing program.

Perhaps the most price sensitive time of the day will be at 12.30 this afternoon when Mark Carney, the governor of the Bank of England will be giving a speech.

Sentiment surrounding the Pound is positive at the moment as the UK economy continues to impress. Last week GDP figures released showed that the UK is the fastest growing economy within the G7 set of countries and the inauguration of Donald Trump has also boosted sentiment surrounding the UK economy and therefore, the Pound’s value.

If you wish to be kept up to date with the Pound’s price movements and potential key news that could move the markets, feel free to get in touch.

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.

May delivers controversial exit bill (Daniel Johnson)

Anger at Exit Bill, brief is an understatement

There was anger from parliament today after May delivered the exit bill and it was only 130 words. MP’s will only get five days to debate and amend it. Minsters had stated  they would keep legislation limited, but this is slightly ridiculous at just eight lines. Labour immediately attacked the bill and Jeremy Corbyn is now in an awkward position.

Corbyn could call for a vote against the time table, but he had previously stated he would not obstruct the exit process. It seems to be a shrewd move from May to try and get her own way with regards to the Brexit process, however this move can hardly be considered democratic. It is about time politicians stopped thinking about there own political agendas and did what is best for the UK. Chance would be a fine thing.

Tim Farrow the Lib Dem leader was unimpressed stating “This bill is short and not sweet”. Given how long he’s been campaigning to leave the EU, it’s amazing this 133 word bill took David Davis such a long time – that’s only five words a day since Brexit. Take back control was a mantra of the leave campaign, but this government’s extreme reluctance to involve parliament in this process has instead been an affront to parliamentary sovereignty and democracy. With Labour  tonally confused over Brexit and the Conservatives determined to take us out of Europe and the single Market at any cost, only the Liberal Democrats are fighting for full membership of the Single Market and a public vote on the final deal.”

The Bill also curiously does not include May’s final day for Brexit, 31st March. Which questions time scale. The markets have not showed much movement at present, probably due to investor’s having so little to  go on.

There are high levels of volatility expected during the Brexit process and it is vital to be in touch with an experienced broker. If you require my assistance please do get in touch for no obligation help. You can e-mail me at dcj@currencies.co.uk.