Tag Archives: Currency Exchange

Will GBPEUR continue to slide?

The pound to Euro rate has been slipping since Monday when we challenged the 1.13 but were ultimately unsuccessful as investors looked to the uncertainty surrounding a UK interest rate hike. The next direction on rates is all going to come down to, in the main, the prospect of a UK interest rate hike and then a Eurozone QE taper. I personally see GBPEUR losing more ground and retesting the 1.10 level in the coming weeks and months.

QE is Quantitative Easing and it is effectively pumping money into an economy through the purchase of assets and bonds by a central bank. The European Central Bank is currently engaging in €60 bn worth per month and investors believe they will scale this back. What this means is that the Euro will on such news, ore than likely strengthen.

Overall expectations are for the Euro to rise in value longer term but just lately the worries over Spanish independence and also the Austrian and German elections have seen the Euro weaker. Longer term I feel the strength in the Eurozone economy will see it through, I see more chance of the ECB acting to reduce their QE than the UK and the Bank of England raising interest rates.

If you are looking to buy or sell pounds against Euros the next two weeks are critical and will likely lead to swings and opportunities that might not be around for long. The best strategy I believe is to look at the market with our expert assistance to try and determine the most opportune moments to capitalise.

Sometimes exchange rates spike for just a few seconds and it is only through being prepared that we can help you. We are here to help you maximise any transfer, for more information on getting the best rates of exchange plus expert service and assistance, please email me Jonathan Watson on jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you and helping you maximise your exchange.

 

Will the Pound improve against the Euro in October? (Tom Holian)

The Pound vs the Euro has had a very strong month in September with a number of positive economic data releases.

From the low to the high we have seen almost 6% movement between Pound and Euro which is the difference of £5,500 on a currency transfer of €100,000 highlighting the importance of timing when making a currency transfer.

As we go into October we have on Monday the release of UK Manufacturing data closely followed by Eurozone unemployment data.

UK manufacturing data has been performing well during the last few months with orders from Europe having increased owing to the weakness of Sterling and this is why I expect the data on Monday to be positive for the UK.

Therefore, I think we could see a positive start to the week for the Pound vs the Euro.

However, clearly next month the GBPEUR exchange rate will be affected by the ongoing Brexit talks so depending how these go this is likely to be one the main influences of Sterling over the next few weeks.

At the moment the key issues are that of citizen rights across Europe as well as the ‘divorce bill’ and various trade agreements.

If you have a 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 (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

GBP/EUR hits a 10-week high, but will the Pound manage to hold on to its recent gains? (Joseph Wright)

The Pound has risen quite dramatically against the Euro in recent weeks, with the pair hitting 1.14 both yesterday as well as this morning which is a 10-week high point for the pair.

Brexit uncertainty appears to have taken a back seat for now, which has seen GBP/EUR rise over 6 cents in recent weeks making the exchanging of Pounds into Euros a more attractive proposition.

The Pounds gains have been aided by a weakening Euro which has mostly been caused by the German election which took place over the past weekend. Although Angela Merkel’s Christian Democratic Union (CDU) party won for a forth consecutive term as expected, the talking point of the election is the rise of the far-right Alternative for Germany (AfD) party as they were the third best performing party.

This has softened the Euro and with the unofficial Catalan election in Spain also just around the corner and threatening to cause tensions in the region I think there’s a chance we could see the Pound continue to climb.

On Friday there will be the release of UK GDP data which could provide the Pound with a boost if the figure released is better than expected. The release comes out at 9.30am and the expectation is for 1.7% year on year and 0.3% for the 2nd quarter of this year.

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

Will GBPEUR rise on the German election?

Many clients are looking to the German election as a possible event to which could create some fresh opportunities on the GBPEUR exchange rate. Many clients are predicting the pound will lose value against the Euro expecting the Euro will strengthen on the back of renewed political certainty in the region. Angela Merkel is widely predicted to win the Chancellorship, the market moving element will be the extent to which any anti-EU or immigration party performs in the share of the votes.

Overall the Euro is significantly stronger against the pound compared to the last few months and years but in the last few weeks the pound has fought back, mainly on the back expectations the UK will raise interest rates. Markets are predicting the UK will raise interest rates in the future but personally I would be skeptical about this happening. Nevertheless the market has to price this potential outcome into the rates and this is the reason for the strength of the pound lately.

If you have a transfer buying Euros with pound you are almost 5% higher than the lower points only two weeks ago. It is unlikely this will just keep rising particularly with the Euro performing so well on the back of improved political certainty in the region. Therefore clients buying Euros with pound should be very conscious of the potential for further setbacks or surprises working against them in the same fashion as events have helped them.

If you have a transfer to make in the future buying or selling Euros then why not speak to me by emailing jmw@currencies.co.uk, we can then help guide you through the processes and expectations on the rates plus ensure you get the best rates in the market.

UK Services data released this morning likely to drive GBP/EUR today, what other data should be watched closely? (Joseph Wright)

This morning the most important sector for the UK economy will be under the spotlight as Services PMI data is scheduled for release.

The figure will be released at 9.30am and it will cover business sentiment in the sector, which is particularly important for the UK economy as the services sector covers around 80% of the UK economy. Whether this figure impresses or not is likely to move the Pound to Euro exchange rate due to its importance, and those following the GBP to EUR exchange rate should kind in mind that the manufacturing and construction figures released over the past couple of days have been mixed which has resulted in a mixed performance for the Pound.

The services sector figure has higher potential to result in price movement and the figure expected for releases is 53.5 so this is the figure to look out for.

We’re able to provide our clients with guidance regarding the news releases and expected figures that could potentially impact their currency transaction requirement. If you would like to be kep updated regarding the markets do feel free to register your interest with me and I’ll be happy to discuss it with you.

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

GBP/EUR Short Term Forecast – Will Sterling Strengthen? (Ben Fletcher)

Sterling has been under continuous pressure these past few months presenting the opportunity for people to sell Euros back at some of the best levels in 9 months. Each week the range in which the GBP/EUR rate resides at has fallen nearly a cent suggesting there is more potential for the rate to continue to fall. If you have been waiting to sell Euros back to Pounds and are still holding on, the next month might be the best time.

German Election

At the end of September Germany will head to the polls in what is thought to be a non-event to re-elect current Chancellor Angela Merkel. Whilst Merkel is the major favourite there has been some surprising events that have taken place around the globe in the past year and anything unexpected could create Euro weakness. At the moment there doesn’t really appear to be any major rivals and the concern that Nationalist parties were coming back seems to have died down. Merkel was heavily criticised by many in her own country for welcoming 1 million refugees, however in the light of no other viable leaders her tenure looks set to continue.

From the perspective of the GBP/EUR rate, over the next month we may see some Euro weakness start to creep in due to election uncertainty. But by that point the GBP/EUR may be close to moving below the 1.10 level, which in my opinion would be a best case scenario for Euro sellers.

If you have a upcoming requirement you would like to discuss or ask any questions about the comments please send me an email briefly explaining your requirement at brf@currencies.co.uk. I would be more than happy to share my thoughts and try to help you develop a plan that will enable you to maximise your transfer. I will aim to respond within a few hours.

Very important week for GBPEUR exchanges! Both Draghi and Carney to speak!

Clients looking to buy Euros with pounds have been treading on pretty precarious ground as the market continues to fret about the political make up of the UK in the coming months and years. Theresa May’s deal with the Democratic Unionist Party (DUP) did little to spark interest in the pound and with the all important commons vote on the Queen’s speech this week sterling should remain at the whim of political developments. I expect the pound could move in either direction with the Euro as much as 2  cents in the coming week depending on a series of important data and events that are taking place.

If you need to move any currency around then making plans in advance is sensible to avoid being caught out like many have in recent weeks as markets take an unexpected turn! We offer a proactive service to help monitor and track exchange rates with a view helping secure the very best levels. If you have a transfer to make and wish for us some assistance please do contact me to find out more.

There is a light belief the Bank of England are making plans to raise interest rates however with the Governor Mark Carney against the idea we could have quite a battle on for that to become reality. We will really need to see some big shifts in the economic data but should we start to see the economic data improving the case for a rate hike will increase. For the Euro the week is fairly light on data but we do have Mario Draghi speaking who with his comments could easily move the Euro rates.

A higher interest rate makes a currency stronger as it attracts investment into that currency. The mere mention of a hike or speculation of one can do lots to a currency and the back and forth nature of commentary over raising UK interest rates lately has seen sterling to Euro rates see-sawing with the sentiment. Both Carney and Draghi’s comments have the potential to move exchange rates and clients looking to buy or sell large volumes of pounds and euros for say an overseas property purchase or business should be prepared.

This week is another potential choppy one with a host of speakers who will be commenting on the potential for interest rates with Mark Carney due to speak today and tomorrow. Markets will be eagerly awaiting any news on how the Governor is viewing events with his Financial Stability report due today. If you have a transfer buying or selling pounds for Euros I would not be surprised to see movements of 1 – 2 cents as we learn principally of developments in UK politics and economics.

If you have a transaction to consider and wish to get any information on the market or trends then please do speak to me Jonathan Watson by emailing jmw@currencies.co.uk to get the latest insight and assistance with the timing and planning of your exchanges.

 

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.

 

Sterling Gains Recced as Afternoon Unfolds (Ben Fletcher)

The GBP/EUR rate begun to recced after reaching a high of 1.14. The boost today came after comments from Bank of England Monetary Policy Committee member Andy Haldane who suggested he will vote for a rate hike later in the year. Haldane is the Bank of England Chief Economist and is considered a key influencer for the group. His comments come a day after Governor Mark Carney announced he doesn’t see a need to start raising rates interest rates just yet.

What the movement today shows is that even a small statement can have major market effects. There was a whole cent difference between the high and the low which on a £100,000 could make you an extra €1000. When the currency markets are this volatile a brokerage can help to protect your interest in the market alerting you to the latest movements.

Quiet end to the week for UK Data

There are no major data releases for the UK for the rest of the week, however do not think that will mean a quiet market. Another Member of the Monetary Policy Committee Kristin Forbes will speak on Friday afternoon which could once again create volatility. Forbes will now be replaced having completed her term on the committee by Silvana Tenreyro. Forbes was considered a hawkish member of the committee and Tenreyro is thought to have more controlled opinions on economic policy.

The chances of an interest hike in the UK within the next few months is unlikely in my opinion. However if inflation continues to rise at the rate it has through the start of 2017 the decision may become forced.

Working for an established brokerage I am able to help you complete any transfers, by offering the best exchange rates. More importantly by fully discussing your requirements and how upcoming events could have an effect on your plans, it could protect you from any market movements. If you do have any questions please don’t hesitate to contact me at brf@currencies.co.uk

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.

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.

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.

Will GBPEUR rise or fall on Article 50?

We now finally have a date for Article 50 to be triggered and are expecting some big swings on the market as investors digest the outcome. The pound could possibly rise but I think in the end this will be a sterling negative event. Expectations over the outcome remain constrained to the likelihood that the market is viewing Brexit in a negative light. If the pound was to benefit so much from Article 50 being triggered why has it lost between 10 and 15% of its strength the vote last June?

The counter of course to this argument is that much of the weakness is priced in and we will actually see some movement higher as a relief rally. My greater concern for sterling, however, is the new set of questions we will be faced with once the Article 50 is invoked. What kind of deal will the UK get and how much is the Brexit bill will all weigh on the pound and makes anticipating the next moves tricky as the market tries to digest just what is happening and how it feels.

Overall I do believe the pound is likely to struggle and any Euro weakness we see as a result of the French election will ultimately be neutralised by a weaker pound in this period. We are gearing up for a very volatile period and with the 29th March now set as a date for the triggering of Article 50, all eyes will be on the pound and what may happen.

If you have a transfer to consider involving buying or selling the pound it is well worth making some plans in advance to navigate the uncertainty. We are here to help with proactive assistance to help you achieve your desired higher exchange rate. For more information at no cost or obligation please speak to me Jonathan by emailing jmw@currencies.co.uk.

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.

Will GBPEUR continue to fall? (Dayle Littlejohn)

It’s been a terrible month for Euro buyers and I am far from surprised. GBPEUR exchange rates have dropped over 4% since the start of the month and therefore central levels have breached 1.14s. To put this into monetary terms a €200,000 purchase is now £7,500 more expensive.

If you are a regular reader for weeks I have been stating that March would be a tough month for the pound as UK Prime Minister is set to trigger Article50 at some point. It was reported towards the end of last week that MPs within the House of Commons will debate the House of Lords amendments and Theresa May could trigger Article50 as early as next Tuesday.

For euro buyers I expect rates of exchange to continue to slide this week therefore if you are needing to purchase I would recommend sending my your requirements today and I will give you a call first thing Monday morning to disucss your transfer drl@currencies.co.uk.

In other news the Bank of England are set to release their latest interest rate decision Thursday afternoon. No surprises are expected therefore rates should remain unchanged. However as always when Governor Mark Carney addresses the public expect volatility as he will discuss how Brexit is impacting the Bank of England’s monetary policy.

For euro seller we are closing in to the fantastic rates of exchange that we saw last October and when Theresa May triggers Article50 it is very difficult to predict how the pound will perform in the upcoming months therefore I would take advantage of the gains you would have made this month.

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 Monday morning 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.

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.

GBP/EUR Rates Retract During Monday Trading (Matthew Vassallo)

GBP/EUR rates have fallen during Monday’s trading, with the pair hitting 1.1709 at today’s low.

Sterling has hit something of a glass ceiling over recent days, as it struggles to make a sustained impact towards 1.20 under the current market conditions.

The EUR found support around 1.18 and whilst the single currency also finds itself under pressure due to political and social unrest across the region, the on-going uncertainty surrounding Brexit continues to handicap any major advances for GBP.

The markets have also likely reacted to a report that Scotland seem to be edging closer to a second independence referendum, with many North of the border seemingly keen to remain part of the EU following the UK’s decision to leave.

The House of Lords are still debating the governments Brexit bill and any amendments they wish to make would have to be sent back to the House of Commons. Although we have yet to hear any indication that this will occur, any delay by the House of Lords would likely push back the triggering of Article 50, which will officially start the process of leaving the single member state.

Much of the current market sentiment is being driven by how the UK economy will perform over the coming months. Whilst Sterling has certainly gained a foothold following its downturn, there are still many unanswered questions regarding how we will facilitate our exit from the EU and what deal will be in place once we do?

There has already been some concerning figures mentioned by the European Commissioner, who stated that the UK will be penalised 50 billion for leaving the single market. This is hardly news which is likely to boost investor confidence in the UK economy moving forward, so it’s no real surprise to see Sterling’s recent upturn halted rather abruptly.

Personally I would not be gambling on any major advances for the Pound in the short-term and I would look to protect Sterling’s recent gains.

If you have an upcoming GBP or EUR currency transfer to make, then we can help you navigate this turbulent market by keeping clients up to speed with all the latest developments regarding Brexit and beyond.

If you would like us to monitor the market for you ahead of a currency exchange, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on 0044 1494 787 478 and ask one of the team for Matt.

Alternatively, I can be emailed directly on mtv@currencies.co.uk.

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.