Tag Archives: best Sterling exchange rates

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.

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)

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.

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.

Terrorist Attack in Manchester (Daniel Johnson)

22 Dead in terrorist attack

Police have now confirmed that 22 people have lost their lives including children and 59 injured after an explosion at an Ariana Grande concert at the Manchester arena. Our thoughts are with all those affected. Terrorist attacks do effect currency, perhaps due to the common occurrence of such atrocities it does not have the same impact as previously. The attack has however contributed to losses for Sterling with GBP/EUR now in the 1.1540s.

UK Election. How will it effect GBP/EUR?

The move to call a snap general election by Theresa May looked to be a shrewd one. Calling an election when the opposition was so weak was thought to almost guarantee a conservative victory. Usually a snap election would cause the currency in question to weaken in value, but on this occasion the opposite occurred. A conservative victory is deemed as positive for the UK economy, investor confidence grew after the announcement and the pound rallied. Since then however the PM has riled her core voters by stating that if the elderly have more than £100k in cash or assets they will pay for their own care. This has caused Corbyn to gain ground on the Conservatives with Labor now only 6 points behind the Tories. Political uncertainty historically weakens the currency in question. If we look at the last general election we saw volatility very close to the day of the vote. This could create a valuable opportunity for Euro sellers at this election.

If you have a currency requirement I will be happy to assist. It is vital to be in touch with an experienced broker in such volatile times. I will be happy to provide a individual trading strategy to suit your needs with no obligation to trade with us. If you would like to get in touch feel free to e-mail me at dcj@currencies.co.uk. Thank you for reading.

 

 

Will GBPEUR rates rise to 1.20?

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

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

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

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

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

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

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

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

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

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

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

 

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.

Dutch Election could weaken the Euro (Daniel Johnson)

If  Wilders gains power it could mean big trouble for the EU

The Dutch general election is upon us and Geert Wilders, the head of the far-right, Party of Freedom is currently in the lead. Wilders has stated he will close mosques, ban the Koran and leave the EU. We have seen his popularity gain momentum following clashes in the Netherlands with the Turkish who have been denied the right to protest about constitutional changes. He has since dropped four seats.

Although Wilders currently leads in the election, with twenty-eight parties in the election it is common place that a coalition is needed. Due to his radical stance on immigration other parties are reluctant to join Wilders, however could party leaders change their mind when the opportunity to gain power becomes available.

If Wilders does get in, a referendum is on the cards, we have already witnessed the damage a referendum can bring on a currency taking Sterling as an example. I would expect the Euro to weaken substantially should Wilders gain power.

US Interest Rate Decision

Today will see the Federal Reserve US interest rate decision. It is widely anticipated there will be a raise in rates. Odds currently at 90% the hike will occur. The market moves on rumour as well as fact so I am of the opinion the hike is already factored into current rates. I would not expect huge gains for the Dollar. It would be a shock however if rates remained unchanged, if this were the outcome the dollar could weaken substantially.

EUR/USD is the most frequently traded currency pair in the world, if there is an exodus from the Euro once a hike is confirmed we could see an opportunity for Euro buyers.

If you have a currency requirement I will be happy to assist. It is vital to be in touch with an experienced broker during such volatile times. I will provide a free, no obligation trading strategy and also demonstrate the rates I can achieve. I can provide a comparison against your current provider if required. I can be contacted at dcj@currencies.co.uk.

 

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.

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.

 

 

All eyes on UK PM Theresa May’s Brexit speech later today, where to for GBP/EUR? (Joseph Wright)

Late on Friday’s trading session it was announced that the UK Prime Minister, Theresa May will be giving a speech later this morning outlining her Brexit plans.

The markets have reacted negatively to this news and many are expecting May to make a speech with a ‘Hard Brexit’ bias.

The Pound was already coming under pressure as May gave an interview with Sky News last weekend and commented that the UK cannot keep ‘bits’ of it’s EU membership. It’s comments such as these which are considered ‘Hard Brexit’ leaning and for those planning on making a currency exchange between the Pound and other currencies, any reference to a Hard Brexit from key government members is likely to have a negative impact on the Pounds value.

This morning’s speech is scheduled for for 11.45am, and during the speech May is expected to cover topics such as Brexit timescales, customs unions, immigration, potential transitional deals and EU funding arrangements.

Aside from this morning’s speech, the outcome of the Supreme Courts ruling on whether or not the government require parliamentary approval before invoking Article 50, and formally begin the Brexit process is likely to be one of the biggest movers of Sterling exchange rates. The outcome could be released any day now so it will be interesting to see how markets react. 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 another foreign currency, it’s well be 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.