Tag Archives: best exchange rates

Euro buying opportunity as Italian politics causes concern

The Euro has weakened as investors struggle to make sense of the latest news from Italy and their political situation as we wait to learn the latest coalition proposals. This has been directly linked to the latest news from the 5-Star party and also the far-right league who have both indicated that they are pursuing an agenda which does not conform to the current visions embodied by Merkel and Macron.

Aiming for deeper integration we have seen the Euro rising on the back of previously held views which believe the Eurozone is likely to grow close together and represent a more solid foundation for the future. This highly held view is now under threat as we begin to see a worrying picture emerging of political uncertainty which might create some concerns for future.

The Italian situation could easily spiral out of control as markets being to digest the latest news which is emerging of a government that does not correspond to the high expectations being placed on them. Any breakdown in talks or pursuit of policies which go against the current sentiments from the EU will ultimately lead to a concern for the markets that the Eurozone has some tough questions to answer on the politics front.

GBPEUR has nearly hit 1.15 this morning and EURUSD hit 1.17 today, these are excellent fresh opportunities which may not last if the current viewpoint suddenly deteriorates. If you have a transfer to consider in the future then making plans in advance is sensible to try and avoid the prospect of the market suddenly moving against you.

For more information at no cost or obligation please don’t hesitate to contact me Jonathan buy emailing jmw@currencies.co.uk

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

Has GBP/EUR already hit its 2018 high, and what factors could drive its value as the year progresses?

The Pound to Euro exchange rate is currently trading around the 1.14 mark, after seeing a slight boost yesterday off the back of some positive data.

After beginning yesterday’s trading session closer to the 1.13 mark the Pound was boosted when the Office of National Statistics (ONS) announced that UK unemployment sits at the record low of 4.2%, and that wage growth in the UK has outpaced the rate of inflation for the first time in a year.

Despite this positive data the Pound to Euro rate is still a couple of cents from its highest levels this year when the pair almost hit 1.16. The positive sentiment surrounding the Pound has since dropped off after the Bank of England voted against a rate hike at last weeks monetary policy meeting.

In order for GBP/EUR to hit a new 2018 high I think there will need to be a breakthrough regarding the final Brexit deal, as such positive news would likely push the Pound higher. I also think that if talk of a rate hike returns later in the year we could see a stronger Pound, especially if the European Central Bank (ECB) continue to hold off of raising interest rates this year.

For those following the pair, its worth noting that Morgan Stanley are predicting short term weakness in the Pounds value, before a longer term recovery as they believe the Pound is oversold and that this will continue in the short term future.

There is a lack of data out of the UK for the rest of the week, but this mornings inflation data from the Eurozone may influence exchange rates.

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.

What can we expect for GBPEUR rates from the Bank of England interest rate decision?

The pound to Euro exchange rate is trading in familiar ranges in a volatile manner as the market is trying to second guess what we can expect next from the Bank of England. The interest rate decision is at 12 noon today and we also have the latest Quarterly Inflation Report from Mark Carney and his team too. The pound has been very susceptible to changes in UK rate expectations and today is a day of reckoning.

The rates could rise to the previous highs today of 1.16 but this seems unlikely given the current expectation that the pound would actually lose value because of the Bank of England being now less likely to raise interest rates. Over the next few weeks, we are likley to see lots of volatility as the markets try to second guess just what the Bank of England are looking to do longer-term.

The outlook for sterling is undoubtedly more positive than the expectations previously set by the Bank of England but we are unlikely to actually see any actual hike today, I think it is more likely to be longer-term in the future when we will see a hike. GBPEUR will, therefore, be more than likely to rise higher in the future as we get more news regarding just what the final expectations are for the pound.

GBPEUR will more than likely trade within a range of 1.13-1.15 in my opinion. If you have a transfer buying or selling the pound against the Euro then I would be looking to make plans ahead of the event to ensure I can capitalise on the volatility.

For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

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

Pound to Euro rate hits May high this morning, will Euro weakness continue to push the rate higher?

The Pound to Euro exchange rate has hit a month high this morning, after breaking through 1.14 quite comfortably earlier today for the first time in May.

At the time of writing the pair are trading at 1.1425, offering those exchanging Pounds into Euros the chance to make their trade at the best levels in a few weeks. The move this morning looks like its off the back Euro weakness, with the EUR/USD rate hitting a fresh 2018 low over the past day.

The Euro is the worst performing major currency of the past week, and talk of stubborn inflationary levels stopping the ECB from amending the current monetary policy are beginning to dampen sentiments surrounding the Euro also. The European Central Bank has confirmed that there will be no interest rate hikes this year which is also dampened sentiment towards the Euro, so I can understand why the single currency is dropping especially when we consider how strong it’s been over the last year.

There are a few downsides for the Pound that I think Sterling sellers should be aware of. With Brexit talks stalling in the House of Lords and the Northern Irish border also becoming a hot topic, I think there is a chance the Pound could see a sell-off should there be a negative Brexit related update, and the UK economy has also been showing signs of a slowdown to Sterling sellers should be weary.

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.

GBP/EUR trading around a 6-week low, will the pair continue to fall?

The Pound has come under pressure once again today, not just compared to the Euro but across the board of major currencies. Those planning on making a large transfer from Pounds into Euros are seeing the cost of Euros become more expensive on almost a daily basis at the moment, and there are a number of reasons for this.

The financial markets had previously been pricing in an interest rate hike from the Bank of England, up to 0.75% which would be the highest rate since the UK exited the global recession almost 10-years ago. This rate hike is now looking a lot less likely after some disappointing GDP figures released lat week showed a slowdown in the UK economy. According to the preliminary GDP figures, the UK economy has slowed to its slowest level in 5-years and although much of this is being attributed to the terrible weather in the first quarter of this year.

At the same time Manufacturing data released this morning showed that the sector has dropped to a 17-month low. With the UK economy appearing to slowdown the chances of a rate hike have slipped and now Lloyd’s Bank are only expecting a 20% chance of the hike actually happening this month.

Tomorrow there is Construction data to be released and then on Thursday there will be Services data released, all out of the UK. Further weak data in my opinion is highly likely to result in a further sell-off of the Pound, so do feel free to register your interest with me if you would like to be notified should there be a major spike 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.

How will the ECB and the BoE move rates?

The BoE (Bank of England) and the ECB (European Central Bank) are going to be the main talking points that come up in the weeks ahead as we get further clarification on the final outcomes of economic policy for both central banks. The decisions by both teams will more than likely lead to movement on GBPEUR rates and these two events are well worth monitoring closely.

Tomorrow is the ECB interest rate decision which could easily trigger some volatility in Euro rates since there is a lack of uncertainty over what kind of commentary we will see from the ECB team. President of the ECB Mario Draghi will be leading the helm and give us the latest views on monetary policy moving forward.

Recent ECB Meeting Minutes highlighted a concern about a strong Euro and this is what saw the Euro much weaker a couple of weeks ago. This is really at odds with the behaviour of the Euro at the last ECB meeting where the Euro rose to its strongest point of 2018 against the pound.

The 10th May sees the Bank of England meeting which is likely to be a very strong trigger on the pound as investors are expecting an interest rate hike but it is by no means set in stone. The uncertainty about whether or not the UK will hike plus the lack of clarity about future hikes will all act as trigger points for future volatility on GBPEUR.

If you have any currency transfers buying or selling the pound against the Euro these pieces of news are likely to be a major market mover and it is well worth highlighting any potential transfer to us well in advance. For more information at no cost or obligation over what to expect and what to be prepared for, please contact me Jonathan Watson by emailing jmw@currencies.co.uk.

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

Is the trend of a strong April for the Pound about to end?

The seasonal trend of the Pound gaining throughout the month of April looks set to end this month, which is coincidentally the 13th month unlikely when the Pound is compared with the US Dollar.

The Pound tends to perform well against most major currency pairs including the Euro during April, with the trend being attributed to the new tax year and a lot of dividend payments being made around this time in GBP denominated equities.

It looks like 13th time unlikely as the Pound is trading below its starting point versus the US Dollar and the Euro when the month begun. Sterling has been coming under pressure recently after some poor Retail Sales figures and lower inflation and wage growth figures. The drop in the Pounds value and sentiment surrounding it have led the Bank of America Merrill Lynch to drop their bet on the Pound gaining in value during the month of April.

I also think that Governor of the Bank of England, Mark Carney failing to confirm the expected interest rate hike from the BoE next month has also impacted the Pound negatively, and the issues surrounding whether or not the UK will leave the EU Customs Union is also weighing on the Pounds value.

If you would like to discuss any upcoming transfers you’re planning, I think next months BoE meeting on the 10th of May is key, and feel free to get in touch to plan around this event and ask for my opinion.

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 weakens after hopes of a rate hike in May are dampened, where to next for the GBP/EUR rate? (Joseph Wright)

Financial markets had been pricing in an interest rate hike from the Bank of England since some bullish comments from the Bank of England last month.

The hopes of a rate hike have since dampened after some important comments from the governor of the Bank of England. Yesterday evening whilst speaking to the BBC, Mark Carney cooled expectations of a rate hike next month after not confirming that it would actually happen. There have been a few members of the BoE that have already voted in favour of hiking interest rates, and with the rate of wage growth in the UK now picking up and similar to inflation levels, many were expecting the base rate in the UK to rise to its highest level since the UK exited the recession.

Carney commented that he didn’t want to become too focused on the precise timing of the next rate hike, and although he didn’t rule out the hike he didn’t confirm it which has caused the Pound to weaken in value.

Sterling had been strengthening recently after the Brexit transitional deal has been agreed and hopes of the rate hike next month, so seeing the GBP/EUR rate drop from its highs isn’t a surprise.

There is still a rate hike likely this year although when it will happen remains to be seen. Next week UK GDP is due out on Friday, so if you’re planning on making a transfer involving the Pound and the Euro do feel free to get in touch as there is plenty of time to plan around next Friday’s release.

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 go even higher?

The pound to Euro exchange rate is now touching the best rates since May 2017 which easily begs the question can this continue? GBPEUR has touched 1.16 in what has been a very positive few weeks for the pound and some uncertainty for the Euro as investors look to the Bank of England poised to raise interest rates, whilst investors brace themselves for the ECB, European Central Bank to be less positive.

The next big piece of news tomorrow morning is Inflation data which is released at 09.30 am and this will provide further evidence on just how the UK economy is performing and whether we can expect the Bank of England to be looking to raise interest rates or not in May. To many, it seems foregone conclusion and this has helped the pound to rise to the levels that we have seen.

GBPEUR faces some more challenges next week with the latest UK economic growth data which will be the first estimate for Q1 for the UK, the snow is likely to have affected the UK economy and hence growth could be lower. Subdued growth for the UK is absolutely a concern which could derail further interest rate hikes, there is also an important ECB policy meeting next Thursday which could trigger some volatility in the markets.

If you have a transfer buying or selling the pound against the Euro then making plans in this turbulent time is very sensible to try and gauge the expected outcomes, if you wish to run through or discuss any transactions please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you and assisting with any transfers.

 

Sterling to Euro rate now sitting comfortably above 1.15, is a move closer to 1.20 now likely?

Yesterday GBP/EUR broke through 1.15 once again, although this time the pair have consolidated above this previous resistance level meaning that the pair are now trading in new territory.

Since the transitional agreement was agreed between the UK and EU negotiators sentiment surrounding the UK economy moving forward has improved, and this is behind much of the Pound’s recent gains. The Euro has also been coming under pressure as inflation levels within Europe aren’t quite as high as the ECB had hoped before cutting back on its asset purchasing program. Global concerns surrounding tensions in Syria and potential clash between the US and Russia are also impacting the Euros value due to the effects on the regions economy.

The interest rate hike next month is now almost a certainty and talk of whether the BoE will raise interest rates later in the year is now beginning to impact the rates, so if you’re planning on making a transfer soon do bear this in mind.

As the year continues I would expect Brexit related news to continue to impact the Pound’s value. The final Brexit agreement needs to be approved by the European Council and across all parliaments in the EU before it becomes official so I expect to see this topic continue to carry potential to move GBP exchange rates quite drastically.

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 the pound to Euro rate rise above 1.15?

The pound to Euro rate had been expected to keep rising in the face of the expected improvements from the market in terms of higher interest rates and also possibly the improved outlook on Brexit but mostly we would be expecting the pound to struggle to rise again to hit the 1.15 mark. The most important factor driving the pound has of course been the Brexit and also the prospect of higher interest rates.

Much of this news does appear to be largely priced into current levels already, however. This is evidenced by the spike that we saw once the Bank of England met at their last meeting and the fact that we have not retouched that level. The general progression on the pound against the Euro is expected longer term but in order to see this occur, we will need to really see some fresh good news.

Markets will need new information to go off to be able to make an informed decision about what really lies ahead. For now, there is likely to be increased uncertainty surrounding Brexit in the coming weeks as we await further news on a trade deal and also the Irish border. In the absence of any new news, the pound will more than likely struggle to maintain higher levels.

The same is true of interest rates which are likely to rise in the future but much of the good news is priced in, further GBP strength will rely on there being new news, which helps the market to pencil in the possibility of further hikes after May. With the poor weather in March weighing on market sentiments I think the Bank of England will be cautious about further hikes which could see the pound remain flat or struggle to rise much further.

If you are buying or selling Euros then making plans in advance around the transfer is the best way to maximise the possibility of getting the best rates. We can help with your plans and look to offer practical assistance with the timing and execution of any transactions. For more information free of charge and at completely no obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

For more information on the future currency forecast please download our monthly guide here.

 

Which data releases could influence the GBP/EUR rate this week? (Joseph Wright)

The Pound to Euro exchange rate has so far managed to hold onto its recent gains and remain trading above the 1.14 mark. This suggests to me that market sentiment surrounding the Pound has improved as previously this was the top end of the current trend and GBP/EUR would usually struggle to hold its ground at these levels.

The pair did reach 1.15 at one stage recently after news broke that the Brexit transitional deal had been arranged, much to the joys of the financial markets. This matter had been a concern previously and limited the upside for the Pound, so understandably Sterling spiked upward in the wake of the news.

Sterling has also been boosted after the Bank of England has hinted at raising interest rates in May of this year, meaning that the monetary policy of the BoE is likely to be more aggressive than many had initially expected. The pick up in wage growth has also increased these chances as wage growth begins to align with the increasing inflation levels.

Later this week there will be PMI releases covering a number of sectors within the UK, all of which are expected to show slowdowns. If you have an upcoming currency requirement involving the GBP/EUR pair, it may be wise looking into the current trade levels in case the PMI releases are worse than expected. They offer us forward looking insight into market sentiments so a gloomy outlook could result in a weaker Pound.

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 further this week?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

EU summit to have major influence on GBPEUR exchange rates

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

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

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

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

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

Will there be any surprises from Hammond?

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

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

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

I doubt this will have a significant impact on Sterling.

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

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

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

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

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

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

Sterling drops as Brexit talks take centre stage, will GBP/EUR drop below 1.12? (Joseph Wright)

The Pound to Euro exchange rate has dropped this afternoon, as its emerged that draft guidelines on a trade agreement between Britain and the EU are published on Wednesday.

Donald Tusk, the chairman of EU leaders was in London to discuss the Brexit negotiations with UK Prime Minister, Theresa May recently. It will be him that presents the draft guidelines tomorrow so those interested in how the GBP/EUR rate is performing should be aware of this.

In the morning there will be GDP figures released out of the EU which also hold the potential to move markets. 0.6% is expected on a quarterly basis and 2.7% annually so expect any deviations from these figures to result in movement for the pair.

Then on Thursday at 12.45pm the ECB (European Central Bank) interest rate decision will be announced. No change is expected but those monitoring the rates should follow the statement at 1.30pm as any reference to future monetary policy may result in movement for the GBP/EUR pair.

It’s data this that can move the markets and a bout of poor data for the Pound is likely to see the Pound dip into the 1.11’s and consolidate there. The rate has dipped into the 1.11’s at times today so those with plans involving the pair should be aware of this.

If you would like to register your interest with me due to planning an upcoming currency transfer, 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 today’s speech from Theresa May offer the GBP/EUR rate direction? (Joseph Wright)

Today could prove to be a busy day for GBP exchange rates, as the UK’s Prime Minister is scheduled to speak around lunchtime today according to reports with the Brexit being in focus.

Brexit related news and updates are proving to be the biggest mover of GBP exchange rates at the moment, and time is running out for the UK and the EU to come to an arrangement so I don’t expect to see this pattern change anytime soon.

May is expected to focus on a number of topics in today’s speech such as protecting jobs, protecting any deals that are being arranged and ensuring that any deals made benefit both parties.

As we’ve seen recently the relationship between the UK and EU negotiators is quite frosty, and the issues surrounding the Northern Irish border and the customs union appear to be sticking points.

Mark Carney will also be speaking this morning so there could be movement for GBP/EUR for this reason also, especially if there are references to future monetary policy as the global pick up in the economy is likely to result in a more aggressive monetary policy for the Bank of England than previously expected.

If you would like to be updated in the event of a major move for the GBP/EUR rate today, 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 the Pound to Euro rate manage to break out of its current trend? (Joseph Wright)

The Pound to Euro exchange rate has been trading within quite a thin range for some time now, as the pair have failed to break out of the 1.12 to 1.1450 trading range significantly for some time now.

Sterling has struggled to rise above the 1.15 mark since June of last year, so those of our readers following the rates hoping for good times to make their transfer should consider that GBP/EUR is still towards the top end of its trend.

In order for our readers to base their trades off of levels in the 1.15’s, they will need to see Sterling improve to levels not seen for some time.

Friday could be the busiest day for GBP/EUR exchange rates this week due to the high volume of data set for release as well as a number of key persons set to speak. It’s day’s such as this that can result in a break out of a long term trend so those planning on making a transfer should consider planning around busy days of economic data. This is something we can help with so do feel free to get in touch if you wish to discuss this further.

There will be construction data released at 9.30am on Friday, and both Theresa May and (UK PM) along with the governor of the Bank of England (Mark Carney) will be speaking so expect any new Brexit breakthroughs to result in movement for the GBP/EUR exchange rate.

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.