Tag Archives: currency transfer

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.

Which direction will GBPEUR take next?

The pound is looking better supported against all currencies and this includes the Euro which it is still nudging some of the better rates in the last 6 months against. If you wish to buy Euros with pounds the good news for sterling is not enough, the Euro is very strong and Euro buyers need some weakness on the part of the Euro get a better rate.

This morning we have the latest UK GDP (Gross Domestic Product) figures which will give us some insight into the pace of growth for the UK economy at present. Overall impressions over the outlook on the GBPEUR rate really are mixed, with both currencies benefiting from improved economic data sets.

Politically, both countries are set on uncertain courses, the UK is struggling with Brexit and many Eurozone countries are feeling political pressures. The biggest concerns stem from the Italian election next weekend, there are a number of far-right and anti-EU and anti-Euro politicians in the running for the top jobs in government.

Despite concerns politically in the Eurozone there are probably greater concerns for the UK with the fears over the worst outlook on Brexit hindering the pound. Whilst sterling is stronger lately as we get some more positive news on what the final deal will be for the UK and the EU, we do still have a long way to go for the pound to really find its feet.

If you need to buy Euros with pounds we are only 2 cents off the best rates to buy since May last year, this is a very good point to note. With GBPEUR looking like it was headed to near parity or one for one, it is very encouraging to see the rates back at this level which whilst compared to overall levels in the last few years are still low, do represent a significant improvement from the lowest points.

If you need to buy or sell Euros and wish for any information on the best timing and appropriate strategies to maximise your deal, please speak to me Jonathan Watson by emailing jmw@currencies.co.uk to get a full overview of the upcoming events and strategy on the best rates of exchange.

 

 

GBP/EUR Forecast – Sterling Spikes During Tuesday’s Trading (Matthew Vassallo)

Sterling has found plenty of support during Tuesday’s trading, gaining almost a cent against its EUR counterpart.

This positive move has ended days of stagnation, with the Pound struggling to make much of an impact over the past week.

GBP/EUR rates hit a high of 1.1353 this afternoon, with investor confidence seemingly boosted by a report released earlier today. It indicated that the EU Parliament is set to push for Britain to have “privileged” single market access, giving the UK more flexibility and thus softening our upcoming exit.

Whilst these reports have not been substantiated, they seem to have provided enough substance to act as a potential catalyst for Sterling’s improvement today.

If true they would also go against the EU’s chief Brexit negotiator Michel Barnier, who has fought against any type of open access for Britain once it has removed itself from the EU bloc.

The current market is proving increasingly difficult to dissect, with GBP/EUR rates moving off rumours more than facts. This makes predicting or identifying any trends more challenging for investors and clients alike. I do believe we continue to operate in a short-term opportunist market and as such any clients with an upcoming Sterling currency transfer should be keeping a watchful eye on the current developments.

Looking ahead and tomorrow we have the latest UK Unemployment figures, which against have the propensity to be a key market shifter. With Unemployment predicted to remain unchanged at 4.3%, expect additional volatility on GBP/EUR rates should the official figure be released outside of this remit.

If you have an upcoming GBP or EUR currency transfer to make, you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

What to expect for GBPEUR exchange rates moving forward?

In recent weeks GBPEUR exchange rates have come under pressure once more due to the developments surrounding Brexit. Head EU negotiator Michel Barnier told the press last week that the transitional talks have broken down and if the UK and EU cannot come to an agreement then the likelihood is there wont be a transition.

No suprises the uncertainty sent the pound tumbling from the 1.14 highs and GBPEUR exchange rates are now floating in the 1.12s. Good news for any client selling euros to buy pounds.

Looking further ahead UK Prime Minister Thersa May is set to address the public on Saturday. This speech will be watched closely by any person involved with the pound and Conservative MPs. It was only last weekend Pro European Conservative MP Anna Soubry warned that MPs could rebel against the PM if she decides to take a hard Brexit approach.

Personally I expect the transitional talks to continue to put pressure on the pound and exchange rates could fall back towards 1.10 in the upcoming 4 weeks. However, I expect the deal will be reached between the UK and EU which will pave the way for trades talks and therefore GBPEUR will improve back to the highs we experience earlier this month. If my predictions materialise then there may be opportunity for both euro buyers and sellers.

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!

 

UK Inflation data causes the Pound to fall against the Euro (Tom Holian)

The Pound has fallen against the Euro since the start of the week which has surprised some analysts after UK inflation data came out higher than expected at 3% in January.

The expectation was for 2.9% for last month so the rise in theory should have strengthened the Pound as it provides further support for an interest rate hike for the UK, which at the moment is 75% priced in for May.

However, one of the key concerns for the UK is that with signs that economic growth may not be as positive as recently suggested this could mean that an interest rate hike may not be coming as soon as some may think.

Looking closer at the inflation figures we have seen oil prices fall since the beginning of the year and as many goods were priced last year when we saw a drop in the value of Sterling this period may be coming to an end so we should expect inflation to start falling soon.

The over-riding factor for the UK is currently the uncertainty surrounding what is currently happening with the topic of Brexit and with phase 2 of the negotiations due to start in March this could cause a lot of volatility for Sterling exchange rates in the weeks ahead.

Tomorrow morning German inflation data is due out as well as Eurozone GDP so expect to see quite a lot of movement for GBPEUR exchange rates in the morning.

If you have a need to make a currency transfer in the near future then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

 

GBP/EUR Forecast – Boris Johnson’s Speech Could Impact Sterling’s Value (Matthew Vassallo)

Sterling has struggled to make an impact against the EUR during the early part of the trading week, with the single currency finding plenty of support around 1.13.

The Pound had threatened to make another move last week following some positive comments last week from the Bank of England (BoE).

BoE governor Mark Carney talked up the prospect of further interest rate hikes if the UK economy stayed on the same track, citing rising inflation as one of the key reasons they could look hike rates.

Whilst he was also fairly positive about the UK economy as a whole, he did draw attention to the fact any major advances were being handicapped by the uncertainty surrounding Brexit. The UK has also gone form the fastest growing economy in the G7 to the slowest, news which is hardly likely to boost investor confidence in the short-term.

This is why it seems that every time the Pound takes a step forward it faces a huge amount of resistance and whilst it has found a foothold against the EUR in recent weeks, any sustainable increase up to or through 1.15, looks unlikely in the short-term.

Looking ahead and there is a host UK inflation data today, which based on last month’s increase does not necessarily bode well for those clients hoping it will have  a positive impact on Sterling’s value.

Tomorrow could also be key with UK Foreign Secretary Boris Johnson speaking on Brexit and his comments are likely to have an impact on the currency markets.

If you have an upcoming GBP or EUR currency transfer to make, you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

GBP to EUR rate begins the week flat, will this week bring direction for the pair? (Joseph Wright)

After a very busy week for Sterling exchange rates last week, the Pound has begun the week in a quiet fashion with GBP/EUR trading exactly flat on the day at the time of writing.

Those watching the GBP/EUR rate should be aware that the pair reached the top end of their medium term trend last week after hitting 1.1450, and that it’s not unusual to see the pair dip shortly after hitting the 1.14/1.15’s as many within the markets don’t think the pair can breach this mark and push on into the later teens.

The lower end of the trend since the summer of last year is well below 1.10 at the 1.07/1.08 mark, so the pair are still trading towards the top end of the medium term trend.

It’s Brexit related news that’s continuing to be the main driver of GBP exchange rate movements at the moment. Last week’s spike up to 1.1450 was a result of bullish comments from the Bank of England so those hoping for another opportunity to trade around those levels should pay attention to comments from the BoE. Do feel free to register your interest with me if you wish to be notified in the wake of a big move for GBP exchange rates.

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

Super Thursday results in a stronger Pound, where to now for the GBP/EUR rate? (Joseph Wright)

The Pound was boosted across the board of major currency pairs yesterday afternoon after the Bank of England delivered a far more bullish statement than many had expected.

Although interest rates were held at 0.5% there was talk of the stronger than expected global economy likely to result in a more aggressive approach from the BoE as soon as this year.

Financial markets are now pricing an interest rate hike into the Pounds value and it’s predicted that this could happen as soon as May.

There have also been forecasts of a higher GBP/EUR rate this year with TD Securities predicting that the rate will hit 1.1627 in the first quarter of this year. The rate went over 1.14 yesterday afternoon although there has been a bout of profit taking since as the pair have since dropped below this mark.

In such a sensitive political environment the rates can move quite dramatically so if you’re planning on making a currency exchange involving the pair, it’s worth making me aware of your plans so that if the rate spikes, I can keep you updated.

Those hoping for a stronger Pound should be aware that if there has less bullish comments from the BoE regarding monetary policy, the Pound is likely to lose a lot of the gains from yesterday very quickly.

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.

 

Global Stocks fall leading to movement on Sterling exchange rates (Tom Holian)

Global stock indices have all crashed overnight since owing to the better than expected jobs report last Friday.

As the data was so strong this is likely to lead to the US Federal Reserve increasing interest rates sooner than may expected and this could put an end to the cheap money that has been available for the last few years. Indeed, monetary policy such as Quantitative Easing which has taken place in the UK and the Eurozone has led to stock markets going in an upwards direction.

Typically when interest rates are low then global investors look elsewhere for a strong yield on their money and this is a big reason why stock markets globally have done well hitting recent record highs during January.

Whether or not this fall will be short term only time will tell and as yet the currency market has not been affected too much.

However, I think we could see some big movements coming on exchange rates if the fall in stock markets continue.

Sterling fell against the Euro during yesterday’s trading session following the release of the latest Services Purchasing Manager’s Index data which was released at 930am yesterday morning. With Services making up three quarters of the UK’s economy the fall from 54.9 to 53.9 in December showed a fall in confidence which led to GBPEUR rates moving in a negative direction.

The Bank of England are due to meet tomorrow afternoon and if the central bank announce that they are still concerned about inflation and that policy may have to change in the future we could see a lot of movement on GBPEUR rates during tomorrow’s trading session.

If you have a need to make a currency transfer in the near future then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

GBP/EUR Forecast – Poor UK Services Data Halts Sterling’s Advances (Matthew Vassallo)

GBP/EUR rates have dropped during Monday’s trading, with the Pound hitting 1.1270 at its low earlier this afternoon.

It had reached a high of 1.1346 but this morning UK Services figure, coupled with some positive Eurozone data has helped strengthen the single currencies position.

Service data is a key component for any economy and this morning’s reading of 53 came out below market expectation. The same data release for the Eurozone showed a reading of 58, which came out slightly the markets predicted result.

Despite Eurozone Retail Sales coming out slightly worse than expected month on month, the EUR is the clear winner today.  It has found plenty of support under 1.13 this afternoon and today’s developments once again throw doubt as to whether Sterling can sustain its recent gains.

Whilst the Pound has generally been on an upward curve of late, it has not yet made an aggressive move towards 1.15.

Coupled with today’s Services figures, the latest Manufacturing data was also below expectation and this has cause investor confidence in the UK’s mini recovery to wane.

One of the reasons behind the Pound’s recent improvement of late has been multiple report of post Brexit trade talks. This has helped remove some of the uncertainty and market fear regarding how the UK economy will evolve post Brexit.

This uncertainty had manifested itself over the past 18 months, which has handicapped any major advances for the Pound over recent months.

UK Prime Minister Theresa May is currently in China discussing a potential trade partnership, news which has probably helped to facilitates Sterling’s improvement last week.

However, with the current Brexit talks entering a crucial stage (where trade deals in particular will be a major topic for discussion), it is currently unclear as to when the UK will be in apposition to negotiate trade relationships with countries outside of the EU.

This means that there will be tangible results for possibly years to come and as such, the current improvements may prove unsustainable in the long-term.

This theory was also backed up by a leaked Government report last week, which indicated that the UK will be worse off after Brexit. The report covered all three Brexit scenarios, including a free trade agreement, access to the single market, or the worst case scenario of no deal being reached at all.

The Government were quick to react and said the findings were only a preliminary assessment but the news is hardly likely to inspire confidence amongst investors.

Therefore despite some positive signs of late, the Pound could come under further pressure over the coming days as Brexit talks start to dominate the headlines once again.

If you have an upcoming Sterling currency transfers to make, you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

Sterling Euro rates stuck in limbo (Tom Holian)

The Pound has once again experienced an indifferent day vs the Euro after getting close to hitting 1.15 on the Interbank level earlier today. At the time of writing the Pound is just trading above 1.14 after falling into the 1.13 levels during mid-afternoon.

It appears as though recently that the Pound is stuck in a range on GBPEUR between 1.13-1.15 and not being able to break either side and if so not last for too long.

The Brexit talks due to start in March will be phase 2 and will be crucial as the key topics will be what happens to trade once the UK and European Union separate from each other. With the talks having gone well during the first week of December when citizens rights were agreed as well as the Irish border issue and the divorce bill I think next month’s talks could be the catalyst for better rates when buying Euros with Pounds.

We end the week with the latest figures from the Eurozone’s Producer Price Index for December with the expectation for 2.3% so anything different is likely to cause movement for GBPEUR exchange rates when this is published at 10am tomorrow morning.

However, arguably one of the most important data releases of the week is the data from the US Non-Farm Payroll due at 130pm in the afternoon. As the Euro has been trading at close to record levels against the US Dollar recently the data could cause a lot of volatility so make sure you’re prepared for what could happen to rates.

If you have a currency transfer to make and would like to save money when buying or selling Euros compared to using your own bank then feel free to contact me directly for a free quote and I look forward to hearing from you.

Having worked for one of the UK’s leading currency brokers for 15 years I am confident of being able to help you.

Email me directly Tom Holian teh@currencies.co.uk

 

GBP/EUR Forecast – Sterling Stutters Following Leaked Brexit Report (Matthew Vassallo)

It’s been a fairly volatile day for GBP/EUR rates today, with the pair fluctuating between 1.1339 & 1.1425.

This morning’s Eurozone Unemployment Rate came out as expected at 8.7% but did little to shift the markets.

Sterling was under pressure throughout early trading, with the single currency finding plenty of support around 1.14. However, the Pound recovered as we headed towards the close of European trading, despite falling away from the 8 month highs seen last week over recent days.

One of the reasons it came under pressure this morning was a leaked Government report, which indicated that the UK will be worse off after Brexit. The report covered all three Brexit scenarios, including a free trade agreement, access to the single market, or the worst case scenario of no deal being reached at all.

The Government were quick to react and said the findings were only a preliminary assessment but the news is hardly likely to inspire confidence amongst investors. As such the Pound’s value dipped, before its mini recovery during the latter part of the trading day.

Despite this positive recovery, the Pound could come under further pressure over the coming days as Brexit talks starting to dominate the headlines once more.

With phase two talks not under way and trade discussions starting in March, it is a key point in the transition.

The EU have already outlined their position and it did make for positive reading for those driving the UK’s negotiations and with Brexit secretary David Davis already claiming the UK would be opposing many of the suggestions put forward.

The uncertainty of the outcome is likely to put further pressure on the Pound over the coming weeks and beyond and as such, I would be looking to protect any short to medium-term GBP currency positions if feasible.

If you have an upcoming GBP or EUR currency transfers to make, you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

 

GBPEUR faces up to reality!

The pound to Euro rate has dropped back into the lower 1.13’s as investors brace themselves for the realities of Brexit to hit home. Expectations have been very high recently following a number of high profile comments from the various actors in the Brexit pantomime. Angela Merkel stated she was looking forward to a successful relationship with the UK and Philip Hammond was clearly laying the case for a softer Brexit.

Fast forward a week and the reality of the difficulties and weakness of the UK’s Brexit position has become more apparent. Headlines surrounding UK government infighting has left the pound struggling to hold onto last week’s gains with a move back into the 1.12’s highly likely. Of course, this behaviour for the pound against the Euro shouldn’t take us too much by surprise, it is what has been happening on the pair ever since the EU Referendum became a market concern back in January 2016.

With the Euro remaining strong against the pound and continuing to be an expensive currency to be betting against, there is the real prospect of some positive news making it even more expensive for Euro buyers taking a gamble on their purchase. Important economic data this week will be Thursday and Friday when we have a whole new set of economic data released which will give some further clues on the state of the UK economy.

If you have a transfer buying or selling the pound against the Euro then making plans in advance is crucial to giving yourself the best chance to maximise the position. General impressions from the market are that we will see sterling rise as Brexit becomes better understood but this will likely take month or years to manifest.

If you have a transfer buying or selling the pound against the Euro then there are a number of issues to be conscious of to make sure you are maximising the position. For more information at no cost or obligation please don’t hesitate to speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

GBP/EUR Forecast – Sterling Closing in on 9 Month High! (Matthew Vassallo)

Sterling has found plenty of support against the EUR during the early part of the trading week, hitting 1.1412 at today’s high.

Despite the EUR finding some support and moving back below 1.14 by the close of European trading, the Pound has been creeping back towards a near 9 month high.

Whilst the current rates may still not look overly attractive based on historical levels, the Pound has certainly seemed to gain something of a foothold over recent weeks.

We must continually  remind ourselves that the goals posts have shifted since the Brexit decision. As a result I feel that the upturn over recent days certainly offers some value to those clients looking to exchange GBP/EUR positions.

This week’s positive move is even more surprising when you consider how poor the UK Retail Sales figures were on Friday and cleints have been aksing what th catalyst was behind this positive spike.

Whilst it’s impossible to give a universal answer, the upturn at least in some part could be attributed, at least in some part, due to a report by the former Conservative Treasury minister Lord Jim O’Neill.

Despite being a vigorous Remain campaigner, he argued that Britain “should prepare for a much more economically optimistically 2018”, citing better than predicated global growth as the reason.

He believes that Britain’s growth forecasts will be upgraded, due to China, the US and Europe showing increased economic activity.

Whilst this view is unlikely to be shared by all, the Pound seems to have benefited as a result.

Personally, my opinion remains unchanged from recent months and that is we are working in a short-term market. Therefore, those clients holding the Pound should be keeping a close eye on the current developments and consider their positon accordingly.

For those clients with a Sterling currency exchange to execute this week, there are some key UK economic data releases to keep an eye on.

The first is tomorrow’s official Unemployment Rate. The rate is expected to remain unchanged at 4.3% but expect additional volatility on Sterling exchange rates, should we see an alternative reading.

Further ahead and all eyes will be on Friday’s UK Gross Domestic Product (GDP) figures. These will likely have a significant impact on the Pound, with an expected growth figure of 0.4% currently being factored into the Pound’s market value.

If you have an upcoming GBP or EUR currency transfer to make you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

What will happen on GBPEUR for the rest of January?

The pound to Euro rate has been trading in a very tight range for the last few weeks with a high to low variation of 1.12-1.1360. This is presenting a good time of consolidation for clients looking to buy and sell Euros to make plans surrounding better times to look at any currency exchanges. What is definite is that the rate will not stay like this forever and sooner or later we will see a change.

Key events will focus on the European Central Bank (ECB) meeting next Thursday 25th January. Investors will be closely monitoring any changes we might see in the economic policy of the ECB which might see a shift on the Euro. Overall expectations for the Euro centre around the reduction in their QE program and possibly the prospect of raising interest rates.

The Bank of England will meet in February, general impressions are that the pound will continue to rise if they do raise interest rates but this might not be until much later in the year. The UK has now falling inflation which would actually see the pound falling as it removes the pressure on interest rate hikes.

GBPEUR has been trading in a range of 1.10-1.145 since October so the prospect of any major deviation from this is limited. I would personally be expecting GBPEUR to remain this kind of range for the end of January. Most prospects for the future focus on the outlook on the pound to Euro rates remaining at these more favourable levels for Euros buyers.

If you have a transfer to consider in the future then making plans in advance is key to maximising the position. For more information at no cost or obligation on the best strategies to maximise your position please contact me Jonathan Watson by emailing jmw@currencies.co.uk.

GBP/EUR Forecast – Brexit Negotiations Continue to Drive Sterling’s Value (Matthew Vassallo)

GBP/EUR rates have remained flat during Tuesday’s trading, with the markets seemingly waiting on the next Brexit report before making a major move.

The pair has remained rang bound of late, with Sterling finding plenty of support above 1.10 but not threatening to break through 1.13 against its EUR counterpart.

UK Prime Minister Theresa May has reshuffled her cabinet in the hope of bringing some stability and in turn some confidence back to the markets. However, investors have not reacted particularly positively to this development and whilst the Pound has found a foothold of late, a sustainable increase against the EUR looks unlikely under current market conditions.

The EUR itself has benefited from a prosperous Eurozone economy, which has exceeded expectation at almost every turn. It seems to have been the currency of choice for investors throughout much of 2017 but whether that trend continues over the coming months, is likely to be hinge on how phase two of Brexit negotiations develop.

With so much market focus and emphasis on the UK’s separation from EU neighbours, any positive strides forward in this sphere is likely to benefit Sterling immensely. Brexit has been a weight around its neck for the past 18 months but personally, I feel any resolution in the short-term is highly unlikely.

It is far more conceivable that negotiation’s will continue to stagnate, as they did during the early stages, and this in turn is likely to handicap any sustainable increases for the Pound.

Therefore I would be tempted to remove any risk from the market and lock in any short-term currency exchange before Brexit negotiations resume.

If you have an upcoming GBP or EUR currency transfer to make you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.

Will the Euro continue to strengthen and will Carillion drag the Pound down? (Joseph Wright)

The headlines surrounding the Euro at the moment are that the currency is currently trading at an all time high against the US Dollar. The gains are generally being put down to the strong economic outlook for the Euro and also expectations that the European Central Bank will begin to cut back on the current stimulus package as the economy justifies it.

Many economists expect to see the Euro hold its ground at the current levels, and when compared with the Pound I think we may even see the Euro to Pound rate improve further especially if Brexit related issues continue to negatively impact sentiment surrounding the UK economy both during and after the Brexit process.

The case for a stronger Pound hasn’t been helped in the past week as it’s emerged that the UK’s second largest construction company, Carillion is likely to go into liquidation shortly. There is up to 20,000 jobs that could be lost as a result and a number of industries and sub-contractors could also run into issues as a result of this. The company has close links with the UK government and it’s emerged that up to 8 contracts were taken out with the company by the government since profit warnings were announced.  This is likely to be looked into further and I certainly don’t think we’ve heard the end of it.

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.

Euro remains strong against the Pound but for how long (Tom Holian)

The Pound vs the Euro has been trading in a very tight range during the course of this week as the markets return for their first full week back since the start of the year.

It appears as though the currency markets are waiting for their first big move of the year and with the Brexit negotiations not due until March the Pound could remain under a lot of pressure for the next two months.

Economic data has been mixed and we have seen Sterling move up one day and then down the next and not yet settled in one direction or another.

The Euro has once again broken the 1.20 Interbank level against the US Dollar which is the highest the currency pair has been in a very long time which highlights how strong the single currency is at the moment.

Tomorrow afternoon could see the Euro end the week with a lot of movement as the US releases its latest set of inflation data in the afternoon.

Inflation is a key indicator as to which way a central bank may move interest rates so if you’re in the process of making a currency transfer involving Euros then keep a close eye out on tomorrow’s announcement.

US Retail Sales are also due to be published and like with inflation, I think we could see a lot of volatility at the end of this week.

If you have a currency transfer to make and would like a free quote compared to using your own bank or simply want to compare rates to buy or sell Euros against your current foreign exchange provider then feel free to get in touch for a free quote. Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to help save you money on exchange rates.

Email me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Brexit talks dominate GBPEUR exchange rates (Tom Holian)

The next round of Brexit negotiations are due to start later today at the meeting currently being held in Brussels.

Hopefully this could mean that things could move on to the longer-term relationship between the European Union and the UK and if the talks go well we could see the Pound make some gains vs the Euro.

Indeed, if the talks progress we could see discussions moving forward about a transition deal for what will happen once the UK has left the European Union in 2019.

The Pound made some small improvements against the Euro yesterday hitting 1.14 on the Interbank level but it appears as though GBPEUR exchange rates are waiting to see what happens with the Brexit negotiations before making their move.

I personally think we could see the Pound move in an upwards direction if the talks progress as it shows that we are getting closer to agreeing a solution.

However, whatever happens over the next few days even if the Pound does rise against the single currency I think the movements will be relatively short-lived.

Indeed, German Chancellor Angela Merkel said that progress had been made but there was ‘much more work to be done and time is of the essence.’

As we go into the start of next week Eurozone inflation data is due to be released on Monday which could cause some movements for Sterling vs the Euro but ultimately I think the market will mainly be moved by whatever happens with the Brexit discussions so make sure you’re prepared for any eventuality.

If you’re in the process of either buying or selling Euros and would like to be kept updated with what is happening over the next few days then contact me directly for a free quote.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident not only of being able to offer you better exchange rates than using your own bank but also help you with the timing of your trade.

Contact me directly Tom Holian teh@currencies.co.uk and I look forward to hearing from you.

GBP/EUR Forecast – The Pound Recovers Following Yesterday’s Losses (Matthew Vassallo)

GBP/EUR rates have remained fairly flat during Wednesday’s trading, with Sterling holding firm against its Euro counterpart.

The Pound was under pressure yesterday morning but fought back during the afternoon to eliminate any deficit.

GBP/EUR rates continue to trade above 1.13, hitting a high of 11.362 today. With the EUR finding support around 1.14 of late, clients looking for any spikes through this level will be hoping for a swift resolution to the current round of Brexit talks.

If the UK government and EU can agree upon a final settlement figure (rumoured to be in the region of 50 billion EUR), guarantee the protection of EU nationals living and working in the UK and also come to arrangement over the setup of the new Irish border, we may see some investor confidence return to the UK.

This in turn could have a positive impact on Sterling’s value but even if talks do progress over the coming as both sides are striving for, I don’t anticipate a major or sustainable improvement for the Pound.

The Pound dipped yesterday due to major sell-off of Sterling positions, which was likely linked to the latest report regarding Brexit negotiations. Despite the undertone being fairly positive in terms of the on-going hope that both sides could reach a deal before long, talks were broken off due to disagreements over a number of key issues.

The DUP party, who the government rely upon due to their coalition agreement, have stated that they will not sign off on any deal regarding Brexit unless Northern Ireland’s terms are mirrored exactly to those of the UK.

This is causing problems over an agreement regarding the Irish border, with the government angling for a softer Brexit for Northern Ireland, in order to keep a fairly relaxed border between them and Southern Ireland.

This halt in proceedings has caused some investors to panic, which in turn has caused GBP/EUR rates to drop.

With so many unanswered questions surrounding Brexit, in terms of when we will move on to the next phase and what type of concession this may incur, and my opinion is to avoid gambling on the current market. We have no idea what sort of trade deal the UK can agree with the EU and how the UK economy may progress over the years, in what is completely new and unchartered territory.

If you have an upcoming GBP/EUR currency transfer to make you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.