Tag Archives: best exchange rates

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! **

Mark Carney Delivers Boost For Sterling (Ben Fletcher)

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

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

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

How can you capitalise on movements?

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

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

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

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

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

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

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

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

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.

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

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

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

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

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

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

 

Queen’s Speech set to cause swings on GBP/EUR (Daniel Johnson)

Could a firm Government cause a Pound rally

Today at 11.30am we will see the state opening of parliament and the Queen’s speech. This had been delayed as the conservatives and the DUP attempt to put a coalition deal together. There has been rumors the negotiations have been problematic with the DUP stating conservative negotiators have been poor. Let us hope this is not a sign of things  to come considering Brexit negotiations have just begun.

Political uncertainty historically weakens the currency in question and the current situation is a clear demonstration of what a country without a government does to the value of the currency in question. There is also in house troubles within the Tory party with senior conservative members giving eight days for Theresa May to prove her credential as PM or risk a leadership challenge. If her stance is changed on hard Brexit we could well see this occur. This could happen as the DUP wish to have a soft border between Northern Ireland and Southern Ireland, this would go against May’s plans for a hard borders which would be a feature in a hard Brexit. We are currently in political limbo and many are expecting Sterling to rise in value once we have a government in place. Although this is definitely a probable outcome I am of the opinion a conservative-DUP government is already factored into current exchange rates. The big market mover will be which course of action the government will take in regards to a hard or soft Brexit.

If you have a currency requirement and would like the assistance of a skilled broker feel free to get in touch. If you let me the details of your trade I will endeavor to produce a free, individual trading strategy. I can be contacted at dcj@currencies.co.uk. (Daniel Johnson)

How do I get the best GBPEUR rates for my international transfer?

The pound to Euro rate will this week generally remain at the mercy of the latest news on Brexit negotiations. So far we have heard that the Brexit Bill and the discussion of rights of EU nationals were top of the list to settle. Talks have opened amicably so far and there has been no major movement on the rates just yet. These pieces of news will be come out from time to time and should be carefully monitored for clients looking to transfer large volumes of pounds or Euros internationally looking for the best rates of exchange or optimum times to trade. For example clients looking to buy or sell overseas property or businesses making payments to foreign suppliers.

With these talks scheduled to carry on over various sessions there is plenty of potential for something unexpected to come out of the talks which could catch the headlines and trigger some volatility on GBPEUR exchange rates. The pound is looking like it could easily rise higher if there is a belief a softer Brexit will be achieved, if it looks like talks a running into difficulty we could easily see the pound drop lower.

If you have a currency exchange to make then making plans in advance is always a smart way to try and avoid the volatility on the markets. We can help with the timing, planning and execution of any currency deals you will need in the future. The general impression for the pound is that we will see some unexpected swings as we learn of firmer details of the Brexit talks but these could be sudden and unexpected.

We offer a proactive service to keep our clients up to date with the market and to help try and target a better deal. Exchange rates change very quickly creating spikes which for a a few minutes may present savings of hundreds or thousands of pounds depending on how you need to do or how big the movement is.

If you wish to learn more about the market and all of your options then please do not hesitate to contact me Jonathan directly to discuss how we can offer the kind of support that really does help lead you to a position to get the best rates. Please email me Jonathan Watson on jmw@currencies.co.uk to learn more.

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.

Critical 36 hours for GBPEUR exchange rates!

GBPEUR has opened this morning flirting around the 1.15 mark as markets digest events for a crucial couple of days for this pairing. The headline event is of course the UK election which takes place today, results due early tomorrow morning. Today however we have the latest ECB (European Central Bank) meeting which will be closely followed for information relating to any changes in monetary policy from the ECB. All in all I expect the predictions will be correct and GBPEUR will rise as Theresa May secures a much larger majority although I don’t see a landslide.

GBPEUR has slipped down to almost 1.13 in the last week as markets begin to price in the possibility of a Labour win or indeed a hung parliament. With the election taking place at such a crucial time with Brexit running in the background markets are being careful to not be caught out. Markets were surprised by the Trump and Brexit votes of last year which saw big swings on exchange rates, this time investors are being very careful about placing too high an expectation on any particular outcome.

Overall nothing can be taken too much for granted as historically the Conservative vote has been largely underestimated in the polls, this was true following the 2010 and 2015 election so may well see Theresa May winning more the the polls indicate. I expect GBPEUR would fall down to say 1.12 on a hung parliament, 1.10 on a Corbyn victory and 1.16-1.17 on a majority of 50-80. Anything above 80 would probably lead to rates approaching the very high teens, should May match Thatcher’s landslide of 144 then I think 1.20 could be on the cards.

If you have a transfer to make making some plans around these important events is I believe crucial to getting the best deal and not missing out. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

Election week is heating up. How will it effect the currency market? (Daniel Johnson)

Labor only 4 points behind the Tories

Labor are now very close in the polls to the conservatives. The latest YouGov poll has a gap of just four points. Historically, during an election the currency in question weakens. As a rule, the more uncertain the outcome, the weaker the currency. The conservatives are deemed as a safer bet for the UK economy than Labor. When the snap election was called we saw Sterling strengthen against the majority of major currencies due the significant lead in the polls. This gap has been cut which is why we have seen the pound drop in value.

If the conservatives gain a majority victory I would expect to see Sterling strengthen. If there is not a majority victory expect further falls for the pound. A hung parliament I would expect to see further falls for the pound. Despite many parties stating they are not willing to form a coalition with particular opposition,I’m sure they will soon change their tunes when they see the opportunity for power. As demonstrated by the Lib Dems in 2010.

If there is a coalition this could cause problems for the pound, parties combined with differing manifestos means getting anything through parliament will be problematic, but the major concern is how this will effect brexit trade negotiations. Potentially, Labor could form a coalition with more than one other party which could be considered worst case scenario for negotiations. I would not expect a pound  recovery in the event of this outcome.

If you have a currency requirement it is absolutely crucial to be in touch with an experienced broker who has traded through similar periods of volatility. We have contract options available that can put you in a position to trade even if your funds are not available, this should definitely be considered for those who are waiting on their Euros to released from other assets. This could be a small window of opportunity.

If you let me know the details of your trade I will endeavor to get back to you within 24hrs with a free, trading strategy to suit your individual needs. If you already have a currency provider I will be happy to perform a comparison and I am very confident I will be able to demonstrate a considerable saving. I can be contacted at dcj@currencies.co.uk. I look forward to being of help.

 

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.

Will the pound to Euro rate fall further?

The pound to euro exchange rate could now really suffer as we get closer to the UK election and any uncertainty of a strong Theresa May victory weighs on the pound and sees exchange rates fall. The overriding impression on the market is that we will soon see the pound rise higher on the back of a strong Theresa May victory. However the potential for a big improvement on the exchange rate is not as high as in previous years where we have seen the market fall and rise sharply owing to the uncertainty around the outcome. This morning’s Retail Sales figures are reason to expect some turbulence ahead of the bigger news in June.

Therefore if you have a currency requirement buying or selling the pound and Euro making some plans around this important event is crucial. Once the UK election is over there then begins a whole new set of problems as we learn of the latest news surrounding the Brexit deal and further problems. If you have a transaction you are considering in the future then making some plans in advance is sensible to avoid the risk of further uncertainty or surprises causing upset.

There is a strong belief that the pound to Euro rate will rise in the future as we get closer to understanding the true nature of the Brexit. However we could be waiting some time to find out exactly how this will pan out. With German elections later in the year the Euro might strengthen but assuming the Conservatives win a strong majority the outlook for GBPEUR is I believe to be close to 1.20 than the mid teens.

If you have a transfer buying or selling the GBPEUR currency pairing then the next few weeks look very interesting. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

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.

How will the UK General Election effect GBP/EUR? (Daniel Johnson)

Will the Election cause Sterling weakness?

Theresa May announced a snap election to take place on 8th June. Historically a snap election would cause the currency in question to weaken, however on his occasion we saw the opposite occur. Following the announcement Sterling strengthened over the Euro. It is important to remember the market moves on rumour as well as fact. It was a shrewd move by May to announce the election while the opposition is so weak. Due to the conservatives clear lead in the polls, I am of the opinion a conservative victory is already factored into current rates of exchange. I would expect little movement on GBP/EUR if the conservatives win. It is when the unexpected occurs you can expect significant movement on the exchange.

We can use the recent French election as an example. After the first round of voting, the field was broken down to two candidates. Macron and Le Pen. Macron was so dominant after the first round the Euro strengthened due to Macron’s pro EU stance. However, when his victory was confirmed we saw little movement on GBP/EUR.

Super Thursday

Thursday brings the UK interest rate decision. I would be very surprised to see any change. It will be interesting however to look at how the monetary Policy Committee (MPC) votes. The nine members vote on whether there should be any change in interest rates, if a member’s vote changes from last month’s we could see movement on the market as this is an indication a change in monetary policy could be on the cards.

We also have manufacturing data which is expected to show a slight decline, any variation from the prediction could result in volatility.

If you have a currency requirement I will be happy to assist. I will provide an individual trading strategy with no obligation to trade. If you already have a currency provider let me know what you are being offered and I am confident in showing you a considerable saving. Feel free to contact me at dcj@currencies.co.uk. Thank you for reading.

 

 

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.

 

Will the pound rise or fall tomorrow against the Euro? (Dayle Littlejohn)

Since the UK public voted out of the European Union the financial investors have been unsure whether UK would actually leave or if another referendum would take place. After a High Court ruling, a Supreme Court ruling and some other stumbling blocks UK Prime Minister Theresa May is set to trigger Article 50 tomorrow morning.

For euro sellers buying pounds this could be the spike in the market that you have waited for as I believe exchange rates will drop 1-2% in your favour. We are expecting a busy day on the market and I will have to use my time wisely however if you are looking to transfer your euros into sterling and want to achieve the best rates tomorrow feel free to email me directly with your contact details. I will give you a call first thing tomorrow morning to run through the process and a strategy to maximise your returns drl@currencies.co.uk.

For euro buyers, I hope you have purchased when the market increased to the higher teens, however if you haven’t again you can email me and I will call you first thing to secure your currency before the Prime Minister makes the announcement or another strategy would be to sit back and ride it out as the French election towards the end of April could provide opportunity. Anti EU Marine Le Pen has gained momentum in the last 3 months ans is neck and neck with pro EU Macron. If Le Pen managed to get into power we could see another country holding a referendum in regards to EU membership

With all of the articles I write, I normally state that I will respond via email however as inquiries are coming think and fast, I will only be replying to clients in the form of a call tomorrow. Therefore if you do not provide your telephone number do not expect an email until Thursday morning drl@currencies.co.uk.

Enjoy your evening and I look forward to speaking with you tomorrow morning.