Tag Archives: buying sterling

GBPEUR plummets due to Mark Carney

Late last night Governor of the Bank of England Mark Carney told the BBC that an interest rate hike would occur this year but failed to announce that it would happen at the May meeting. He did state Brexit negotiations and the performance of the UK economy will dictate when the hike occurs. This was seen as extremely dovish by investors and the pound was sold off.

The Governor also spoke about inflation and said as always inflation needs to be monitored closely. With inflation falling quicker than expected this month to 2.5%, if this trends continues I expect to only see one hike this year, which arguably is a bad situation for clients buying euros.

The pound had been making considerable gains against the euro over the last 6 weeks due to the hype of an interest rate hike and the shift in Brexit sentiment. However not that a hike may not occur, this could be the start of the slide for sterling against the pound. Furthermore with trade negotiations set to start in the upcoming months now is the time to buy pounds in my opinion.

For further information in regards to GBPEUR currency transfers 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 my forecast and the options available to you 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! **

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.

 

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.

GBPEUR hits fresh highs!

The pound to Euro rate has risen to some of the highest levels since the May 2017 General Election. This was the last time GBPEUR was trading at the highs we witnessed today, if you have a transfer buying Euros with pounds then making plans around the current market sentiment is a wise move as the enthusiasm over sterling will probably subside quickly.

The pound is doing better against the Euro already on the positive expectations which have been in place for the last few weeks with the best levels now being realised. With the market looking very strong for the pound the prospect for the rate to keep rising higher is probably limited now.

If you have a transfer buying Euros with pounds it is now worth remembering just how fragile positive news can be on the currency markets and how strong the Euro has been in recent weeks. General impressions for the pound against the Euro are also linked to what is happening on the US dollar. The market has been happy to buy up the pounds this week but those sentiments can quickly change next week with more data due.

If you need to buy the Euro with the pound I would consider making plans around the latest news today and considering what your target is. Tomorrow sees the latest UK GDP (Gross Domestic Product) news from the UK, much of the important news has already been released today and this week which might mean a less volatile week.

Nevertheless, it is well worth getting any plans to buy Euros well in place in advance to make sure you don’t miss out on the spikes. 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 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.

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 the release of the Brexit plan result in a stronger Pound? (Joseph Wright)

The negotiations between the UK and EU regarding the Brexit have been heating up recently, and we’re shortly expected to know what the UK’s stance is.

Just yesterday UK Prime Minister, Theresa May held emergency talks with senior cabinet members behind closed doors. The talks took place at her country residence, Chequers and one MP told the press that she ‘played a blinder’. Within the next month we’re expected to know what the Brexit plans are so I think although the markets are quite calm at the moment, we could see a lot of movement for the Pound to Euro rate in the next month.

Next week Theresa May will also be giving a speech again outlining her stance on Brexit talks so far and plans moving forward.

Although economic data is once again having an effect on the Pounds value I think that politics is likely to be the main driver of GBP exchange rates in the current climate, which makes it harder to judge where the Pound will move next and when.

If you would like to be notified in the event of a major spike for the Pound in either direction, do feel free to register your interest with me as working on a trading floor allows us to react in the wake of a major move.

Later today there will be the release of EU Inflation data which could move the markets depending on how the figure comes out.

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 now rise or fall?

The pound could easily find further favour against the Euro as we get closer to understanding the outlook on the Brexit. General expectations for the pound centre around progress on the Brexit which is looking like it could actually pass off without as much pain as previously imagined. The progress we made in December is feeding through into confidence for the year ahead, personally, I am very concerned about what is in fact a real lack of progress.

The expectations have now been set very high for the pound which is actually very close to the pre-Referendum highs on a trade weighted basis. This is not the case against the Euro however which is performing very well against the pound owing to the continued economic strength for the Eurozone. Recent growth figures were the best in ten years and investors are now expecting more good news down the line.

GBPEUR appears like it could trade higher with the Italian election in March but personally I think the range we will occupy now would be closer to the 1.10-1.14 levels. Once the reality of the lack of progress on Brexit becomes apparent we are likely to see the pound slide, we only have a few months before this needs to be completed.

If you need to make a transfer involving the pound or euro, then I would be suggesting to make some plans in advance. We offer a specialist service to help with the timing of any transfer for the future, by closely monitoring the levels we aim to secure you more favourable level.

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

Thank you for reading and I look forward to assisting you in the future.

 

GBP/EUR – Where Next? (Daniel Johnson)

Brexit phase two could cause prolonged Sterling weakness

The main driver on GBP/EUR at present is Brexit. There is still a great deal of uncertainty surrounding how Brexit talks will progress. GBP/EUR hit 1.15 recently following the announcement a deal had been agreed in regards to Irish borders. The small window of opportunity for euro buyers soon closed however following stupid comments from David Davis. Davis, the secretary of state for exiting the European Union, he thought it would be a bright idea to state the border deal was not legally binding.  The pound fell in value as a result.

There was then the eleven tory MPs who managed to win a vote that any deal agreed by Theresa May at the recent European summit would have to be given the ok by parliament, substantially weakening May’s position and again sterling fell.

Phase two of negotiations is set to be far more difficult than phase one. The important issues such as immigration and trade are set to be addressed. Negotiations are expected to be problematic and lengthy. At present GBP/EUR seems range bound between 1.10-1.15

Potential Opportunity for Euro Buyers

Tomorrow Spanish regional elections will commence. There are several parties that are in favour of Catalonian independence. If it looks like Catalonia will leave Spain and indeed the EU the euro could suffer. Although Catalonia makes up a significant amount of Spanish GDP it is the threat that other regions could follow suit and leave the EU that is the threat to the Euro.

If you have a currency requirement I will be happy to assist. It is crucial to be in touch with an experienced broker when the market is currently so hard to predict. If you let me know the details of your trade I will endeavour to produce a free trading strategy to suit your individual needs. Have faith knowing you will be dealing with a brokerage in business for over 16yrs, Foreign Currency Direct Plc. We are a no risk entity as we do not speculate on the market and we are registered with the FCA. If you have a currency provider take a minute to send over the rates they offer and I am confident I can demonstrate a significant saving. I can be contacted at dcj@currencies.co.uk . (Daniel Johnson) Thank you for reading.

Catalonian election could create Euro weakness (Daniel Johnson)

Close election in Spain could weaken the Euro

Regional elections in Spain commence on Thursday and they are a cause for worry for Brussels. The election is expected to be close between pro and anti independence parties. I would be surprised if any of the seven parties involved mange to secure a majority victory. Political uncertainty is a main factor in currency weakness so this  could create an opportunity for euro buyers.

Catalans have a tough decision. They must stick with a unstable separatist coalition whose leaders have been placed in prison or left the country, or take a chance on alternative parties that fall in line with a united Spain which would no doubt suit Spanish Prime Minister, Mariano Rajoy’s wishes.

Recent polls suggest a lead for Catalonian secessionists who have used a the slim victory in the last regional parliament to declare independence  and cause a clash over sovereignty and popular that have caused worry far beyond Spain. There was less than half of the electorate involved in that vote.

Catalonia makes up a significant amount of Spanish GDP, but it is the threat that other regions follow suit if independence becomes a reality. If other regions, not just in Spain decide to campaign for independence this could create a serious threat to the Euro.

If you are buying euros with Sterling however be wary of hanging on for significant gains. I would suggest moving if the market hits above 1.14, the uncertainty surrounding Brexit negotiations is seemingly anchoring GBP/EUR below 1.15,it is something of a resistance point at present.

During such unpredictable times you need an experienced broker on board if you wish to maximise your return. If you have a pending currency transfer let me know the details of your trade I will endeavor to assist. There is no obligation to trade by asking for my help, I will provide a free trading strategy to suit your individual needs. If you do wish to try our service you can trade in the knowledge we are a no risk entity, as we do not speculate. Foreign Currency Direct PLC has been in business for over 16yrs and we are registered with the FCA. If you already use a provider I can perform a comparison within minutes and I am confident I will demonstrate a considerable saving. I can be contacted at dcj@currencies.co.uk.

 

 

 

Will the GBP/EUR rate break out of its current trading range anytime soon? (Joseph Wright)

The Pound to Euro exchange rate is now trading towards the bottom end of its current trading range, as the pair have dropped down to the 1.11’s.

For some time now the pair have struggled to breach the 1.14 mark, and with there being talk of Theresa May’s (UK Prime Minister) position coming under pressure along with some disappointing inflation data yesterday, the Pound has been under pressure which has pushed it to the lower levels of the current range which I believe is roughly 1.10 to 1.14.

Now the likelihood of further rate hikes in line with the Bank of England’s plans are looking less likely, we’ve seen the Pound drop off and I think that the rate could continue to soften should this continue.

Those selling Euros into Pounds are still in a great position when we consider that the current EUR/GBP rate is trading towards the top end of a 10-year range, which mid-market levels now close to 0.90. This may continue mostly owing to GBP weakness, but I do think the Catalonian independence issue could scupper the Euros strong position should it resurface once again.

If you wish to kept updated regarding any short term price movements between the pair, do feel free to register your interest with me. Yesterday the Euro hit a 1-month high against the Pound so those that wished to be kept updated were able to take advantage of our service.

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.

Quiet end to the week for UK data releases, what could cause the GBP/EUR rate to move this week? (Joseph Wright)

Those hoping for better Pound to Euro exchange rates have taken a knock this morning after the much publicised Catalonian independence situation has cooled for the meantime.

Yesterday evening the Catalan President, Carles Puigdemont and other regional leaders signed a declaration of independence, but interestingly chose to suspend the move allowing some time to negotiate with Spain.

The situation had been under the microscope in recent weeks and was seen as a potential downside to the Euros value as political instability is often a reason for currency weakness, and I expect the cooling of this situation for now at least to take some pressure off of the Euro.

The Euro is up this morning against all major currency pairs, and at the time of writing the Euro to Pound rate is trading at its day highs.

There is little economic data out for the rest of this week that involves the UK economy directly, so I expect to see the GBP/EUR driven by sentiment or Eurozone specific data releases. The ECB president, Mario Draghi will be speaking tomorrow at 3.30pm so I expect markets to be glued to his comments as is normally the case when he speaks.

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.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Pound to Euro rate hits one-week low as Bank of England lowers growth forecast (Joseph Wright)

The Pound to Euro exchange rate has dropped to its lowest level in a week yesterday as data from the disappointed.

The Bank of England (BoE) slashed its growth forecast as yesterday’s quarterly inflation report confirmed that inflation levels within the UK will soon outstrip earnings growth. Sterling has dropped below 1.1850 this morning as the softening of the Pound continues although the currency is still towards the top of the current trading range.

Those considering a Sterling transfer should bear in mind that earlier this week analysts at Lloyds bank downgraded their GBP/EUR price target from 1.18 to 1.16 at the end of 2017. This level is below the Pounds current mid-market value, so it seems that some professionals expect the pound to fall as the year goes on.

I also think that if it surfaces that Brexit negotiations have begun badly, we could see a sell-off for the Pound as the setting up of new trade agreements is likely to be the governments priority as the UK enters a time of uncertainty. Now that economic data is playing a more prominent role in the value of the Pound it’s certainly worth paying a close eye on data releases as they’re impacting Sterling rates to a greater extent than last year when politics played a greater role.

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

Pound to Euro rate drops in wake in Dutch election results, where to next for GBP/EUR? (Joseph Wright)

The Pound has continued to lose value against the Euro throughout the month, and despite making a few fight-backs the currency is now lodged below the 1.15 mark at the mid-market level.

Late last night it was announced that Dutch Prime Minister Mark Rutte won the most seats in the parliamentary election, and defeated far-right hopeful Gert Wilders who was predicted to put in a strong performance. Had Wilders of won more seats or put in a stronger performance I would have expected to see the Euro lose value on fears of his plans to remove the Netherlands from the EU, but the win for the current Prime Minister has eased these fears which has strengthened the Euro further.

The Euro had been boosted recently after the European Central Bank recently confirmed that they will be tapering the current quantitative easing programme due to signs of the economy improving.

Moving forward I think we could see the Euro gain even further as the Brexit begins, particularly if it becomes public that trade negotiations are going badly.

Later today there will be an interest rate decision from the Bank of England, and although no changes are expected it will be interesting to see what governor Mark Carney has to say regarding the UK economy.

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

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

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

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

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

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

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

A potential spike for GBPEUR exchange rates tomorrow? (Dayle Littlejohn)

With Brexit on the horizon it’s no surprise GBPEUR exchange rates have been falling in recent weeks. Within the last 14 days exchange rate have dropped 4 cents which means a €200,000 purchase is now £5,000 more expensive.

Tomorrow the UK Chancellor Phillip Hammond is set to address the public and give his latest budget. There is growing speculation that the chancellor could upgrade growth forecasts which could cause the pound to increase in value.

It was only earlier today that the Organisation for Economic Cooperation and Development (OECD) increased its forecast to 1.6% compared to 1% that was predicted last September.

For Euro buyers that are purchasing within the next 6 weeks, if the market does spike in your favor I would seriously consider taking advantage. Theresa May is set to trigger Article50 and start the process of leaving the EU within the next 3 weeks and I expect further falls once the Article is triggered.

Other data releases that will have a major impact on GBPEUR exchange rates this week is the ECB’s interest rate decision Thursday at 12:45 and UK Consumer inflation expectations released Friday at 9.30am.

If you reading this website for the first time as you need to convert GBPEUR, 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 my forecast and the options available to you 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 a free quote 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.

Common clients I help on a daily basis are Sole traders, MD or FD of a company, property buyers and sellers. If you are one of the three and are currently using the bank to transfer your currency you need to be made aware that you could be saving money!

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.

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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.