Tag Archives: Euro weakness

Will GBPEUR rise or fall next week?

The beginning of a new month always sees a new set of economic data and next Tuesday we will have the latest UK data for the month of July. The data so for for Construction, Manufacturing and Services for the UK have all been showing weakness since the Brexit and this could be reflected int he data next week which would see the pound lower. Overall expectations for the UK remain subdued, meanwhile the Eurozone is going from strength to strength! If you have a transfer buying or selling the pound and Euro the current rates are at a very interesting point. Euro sellers for pounds have close to a 9 month high, Euro buyers with pounds could easily see levels slip. Both for buyers and sellers there are strong arguments in either direction!

I am expecting GBPEUR could easily trade in the higher levels in the coming weeks but much will depend on just how the trade negotiations are received. The pound has been largely unaffected by the latest developments in the trade talks, I think this is because nothing will be decided for at least a year possibly 18 months. That means sterling is likely to remain languishing as investors await for further news of the talks. Ultimately with no real good news seen in the short term Euro buyers with pounds should be treading very carefully!

If you have any transactions to make in the future then making some plans in advance is very much worthwhile. We cannot just sit back and hope for the best in this market. If you need some information and assistance to help make an informed choice and decision about your FX transaction please contact me Jonathan Watson directly by emailing jmw@currencies.co.uk.

If you need to transfer amounts above £10,000 bank to bank across borders or within the UK I am very confident I can help you with your situation. Thank you for reading and I look forward to hearing from you.

Will the prospect of a Marine Le Pen Presidential win in France boost the Pound’s value? (Joseph Wright)

Up until yesterday afternoon the GBP/EUR pair had struggled to break above the 1.18 mark, but yesterday Sterling surged all the way up to 1.19 at one stage after benefiting from a weakening Euro.

The Euro weakened across the board yesterday afternoon after far-right French Presidential candidate Marine Le Pen gained further traction in recent opinion polls, with the candidate now a realistic candidate for the Presidency after becoming a favourite.

Moving forward I expect her increase in popularity to weigh on the Euro’s value as she has previously outlined plans to withdraw France from the Eurozone. Moreover she has also suggested that France stops using the Euro and reinstates the French Franc. Should these plans materialise it would surely leave the door open for other Eurozone nations to follow suit which would be detrimental for the Euros value, and the potential of this taking place is already weighing on the Euros value.

Another reason the GBP/EUR exchange rate may see a boost is the UK economy has been posting some impressive economic figures, with the Bank of England hiking the UK’s growth prospects this year and next.

If you wish to be kept up to date with GBP/EUR exchange rates related news do feel free to register with us for updates.

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

Will GBPEUR hit 1.20 this week?

The pound to Euro rate is looking very attractive at the moment from a Euro buyers perspective as we get closer to understanding further just what Brexit negotiations the UK are aiming for. The Euro is weaker as investors are concerned over just what lies around the corner politically and fresh Greek debt concerns raise their head. Today is some very important UK economic data which could well help trigger some further improvements for the pound against the Euro.

If you are looking at the market this week there is lots of UK economic data which could move the market including the release of the latest UK Inflation data. The rate of Inflation is rising which is weighing on the Bank of England to perhaps consider raising interest rates in the future. As Inflation rises the common tool to combat higher Inflation is raising interest rates. Will the rising Inflation lead to fears over a decline in UK living standards or will a rise lead to investors placing bets the UK could raise interest rates sooner than previously hoped?

After this data at 09.30 we then have Eurozone data on GDP at 10.00am. All in all I think the Euro is going to err on the weaker side which will continue to present better opportunities for Euro buyers but of course there is the danger of the pound slipping with so much uncertainty over the Brexit looming. If you have a transfer to consider buying pounds or euros in the coming weeks then I would be looking very closely at what is happening politically in both the UK and Eurozone.

I am very confident I can help you with any currency transfers you will need to make by saving you money over other companies plus providing some useful information as to what might happen. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk

Will GBPEUR rates hit 1.20 or 1.10 again?

Most expectations centre around the likelihood sterling will rise further against a weaker Euro in the coming weeks and months since the general impression for the market is the Euro will become weaker on political uncertainty. GBPEUR is currently resting around 1.15-1.16 but I feel a move higher and both lower is feasible. With so many different events potentially to affect the rate clients looking to buy or sell the pound and euro should be I believe making careful plans sooner rather than later.

The first major hurdles begin next month when the triggering of Article 50 will take place and should see attention firmly on the UK. With most analysts predicting the pound will fall lower in the coming months I would not be surprised to the pound react badly. Whilst we have seen sterling stronger in many respects because we have some clarity over Brexit there are still numerous details to finalise. What kind of deal will the UK get? Will it be achievable in two years? Sterling is clearly going to remain in choppy waters and any pending economic damage from the recent rising Inflation rates could also torpedo sterling strength.

Turning to events across the Channel we are of course not too far from some major political uncertainty there too. Dutch elections scheduled for the 15th March could see GBPEUR come under some real pressure with the Euro likely to weaken further in the coming months. I would not be surprised to see GBPEUR come under further pressure with GBPEUR quite likely to reach the 1.20 mark although this is more than likely to be in the month of April.

If you have a transfer to consider involving the pound or euro then making some firm plans in advance is I believe a sensible move. For more information at no cost or obligation please speak to me Jonathan by emailing jmw@currencies.co.uk

What trading rates can I expect on GBPEUR in 2017?

I would expect that the GBPEUR levels on offer for GBPEUR in the coming weeks and months will remain within the ranges we have seen since the Referendum. These are 1.2013 to 1.1068 on the interbank exchange rate. Simply knowing the ranges is helpful but what is more useful is the upcoming events that can move the rates and understanding in advance your options to help you navigate the markets. Understanding the FX markets is some respects simple, in others impossible to make sense of.

We could easily be looking at a quick change on GBPEUR at any point in the next week or so as the Supreme Court decision is released. We are looking to this result as the main driver on GBPEUR in the short term. If you have a transfer to consider you should be closely monitoring this decision or if you wish you can alert me to your position and I can monitor it for you. Just email jmw@currencies.co.uk to highlight your situation Other flashpoints include the inauguration of Donald Trump on the 20th December. Will we finally see this as the end of the Trump rally that has been taking place in recent weeks?

Looking further into 2017 we have also the Dutch and French elections. If you have a transfer to consider in the future then making sure you are aware of such issues and their potential to impact your exchange rate is sensible. Personally I feel the pound is undervalued at present. There is real potential for some upside in the coming weeks and months once we get some clarity on the Brexit plans. Ultimately this could take a few months to manifest so clients looking to move now or in the next 6 weeks might wish to take advantage of any short term spikes as the pound is likely to remain under pressure.

For more information on events that will shape your exchange rate please speak to me Jonathan by emailing jmw@currencies.co.uk. I am your personal account manager here and will be very happy to hear from you and offer some assistance.

Thank you for reading, I look forward to answering your questions.

GBPEUR may rise towards the end of this week!

The pound to euro exchange rate could experience volatility towards the end of this week following a key piece of economic news from the United States. The US will vote on whether or not to raise their interest rate this week Wednesday and it is widely expected they will vote to hike rates by 0.25%. If you are looking to make GBPEUR exchange this news will have an impact on your exchange rate and the currency markets.

The US dollar is the worlds most traded currency and as such has very strong relationships with each currency. Simply put movements on the US dollar have bearing on all currencies. Therefore with the big decision on Wednesday night we could see the pound and the Euro reacting individually to the US dollar which will influence their own relationship.

The outcome of tomorrow’s decision will in my opinion weaken the Euro since the pound has generally been holding up against the US dollar. Therefore as the US dollar strengthens (assuming the Fed do raise rates) then the Euro should weaken which will present some better opportunities to buy the Euro with the pound.

This morning at 09.30 am is the latest UK Inflation data which will of course effect the pound, then tomorrow is the latest UK Unemployment data. Retail Sales for the UK is released Thursday when of course we will also have the latest news from the US Interest rate decision. Another factor in all of this will be the Inflation Eurozone data released Thursday, all in all this is a busy week for the GBPEUR rate.

I expect the GBPEUR rate to be higher towards the end of the week, if you have any transfers to consider please speak to me about how to go about forming a strategy to help you capitalise on any improvements. Please either email jmw@currencies.co.uk or call 01494 787 478. I would be very interested to speak with you and offer assistance with your plans.

Sterling Euro rate hits 8 week high to buy Euros (Tom Holian)

Sterling Euro exchange rates have this morning broken through 1.17 as the positive run continues for the Pound against the Euro.

UK consumer spending has now jumped to a 14 year high and owing to the change in temperatures recently UK Retail Sales have shown an increase. The economic data was much better than expected and this saw the Pound make gains against the Euro.

Since Brexit there have been a lot of negative reports and suggestions that the British economy will really struggle but since the vote to leave the European Union back in June generally speaking UK economic data has been relatively positive.

The Pound has also been making gains owing to the uncertainty in global markets since the US election. The Euro vs the USD rate is close to its lowest level in over 10 years and this is causing the Euro to weaken against Sterling which is good news if you’re looking to send funds to Europe.

It appears as though since the start of October Sterling is making slow but steady gains against the Euro but there is still the uncertainty of what is happening politically in the UK concerning the issue of Article 50.

Theresa May is currently in Germany to meet with Angela Merkel and the German Premier has recently softened her tone towards the UK and the single market issue which is why Sterling has made gains vs the single currency.

ECB president Mario Draghi is currently discussing monetary policy and has stated that the current recovery depends on continuous monetary support therefore implying that the ECB may look to continue to intervene going into next year.

Having worked in the currency markets since 2003 I am confident not only of being able to offer you bank beating exchange rates when buying or selling Euros but also help you with the timing of your trade.

If you have a currency transfer and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

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Will Sterling continue to decline and can we expect to see parity with the Euro? (Joseph Wright)

One pattern we’ve seen between Sterling and Euro since the Brexit vote is whenever there has been talk of a ‘Hard Brexit’ the Pound has weakened, as this is because many had hoped for a long drawn out period of negotiations but those hopes are now fading fast.

This so called ‘Hard Brexit’ is currently in the news once again as yesterday evening the European Council President Donald Tusk said that the only alternative to a ‘Hard Brexit’ would be no Brexit, and the Pound have softened slightly off the back of this announcement as has usually been the case.

Tusk warned the UK that the EU will not compromise on its insistence that freedom of movement will be a condition for Britain’s access to the single market.

The reason for the above explanation is that its likely to weigh on the pounds value as we approach the invocation of Article 50 next year towards the end of March. This is a key date as from the date that Article 50 is invoked, the UK will have 2 years to have separated from the EU .

A number of major financial institutions such as Unicredit and HSBC are outlining 1 for 1 between GBP and EUR in the upcoming months and HSBC suggested that the par will be trading at this level towards the end of next year.

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

Sterling Euro rates waiting for US non-farm payroll data on Friday (Tom Holian)

The Pound vs the Euro has made gains since the middle of the month as economic data for the UK covering the period post-Brexit has come out better than expected.

UK retail sales started to help the Pound recover and with UK GDP coming out at 0.6% for the previous quarter the outlook appears a little more rosy.

The longer term issue to deal with is when Article 50 may get triggered as well as a potential further interest rate cut which may come in November.

However, this week all eyes will be on the US non-farm payroll data due to be published on Friday afternoon.

The US economy has been extremely strong this year and even though the election is just 2 months away the pressure is rising for an interest rate hike if the jobs data on Friday is strong.

Unemployment levels in the US are currently at 4.8% which is the best for years and this again supports the argument for an interest rate hike.

Typically is the news is strong then this could cause Dollar strength which often results in Euro weakness so if you’re looking at buying Euros then this could potentially see Sterling gain on later Friday afternoon if the figures come out higher than expected.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

When will Sterling Recover Post-Brexit? (Daniel Charles Johnson)

A new cabinet is now in place with Theresa May at the helm and I think we will see the pound gradually strengthen. There are two events which could hinder any pound rally however. Firstly on the 4th August we have  the Bank of England’s (BOE)interest rate decision. There was the high chance of a rate cut at the Monetary Policy Committee’s (MPC) vote this month but rates remained unchanged at 0.25%. Usually if a data release goes a against the grain you will see a big change market. GBP/EUR  only saw a slight change, briefly moving to 1.21 before levelling out  at around 1.20. Only a cent away from the previous day’s 1.19. This could be due to the strong possibility of a rate cut in August. It is the general consensus this will happen, therefore I would not expect the pound to drop substantially when a cut does occur. The other event which could cause Sterling to fall in value is if the button is pushed on article 50. Article 50 engages the UK’s exit from the EU, this will  weaken the Pound. I do not expect this to happen until early 2017 however.

If you have a currency trade it is important to be in touch with a seasoned broker. The timing of your trade is vital during such a volatile  times, If you have a veteran broker on board he can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to help with your trade I will be happy to help. Let me know the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the UK and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 4% saving in comparison to high street banks. Please do get in touch by contacting me at dcj@currencies.co.uk. Thank you for reading my blog.

Where now for Sterling? (Daniel Charles Johnson)

Sterling has declined considerably against the majority of major currencies. It is at record lows against nearly all. GBP/USD has not been below 1.31 since 1985. The press have mentioned the recovery of the FTSE 100, but the FTSE 350 is a far better barometer and figures are substantially down.

Mark Carney, the governor of the Bank of England (BOE) spoke on Thursday following a stability report. He indicated there is the strong possibility of an interest rate cut, which could come as early as next week. If not next week it is almost a certainty the cut will occur in August. The UK interest rate has sat at a record low of 0.5% for years, I think we will now see it move to 0.25%. Carney also stated there is £150bn available for quantitative easing (QE). QE is essentially feeding money into an economy in order to stimulate growth. If Carney implements these change I would expect Sterling to weaken further.

I think Sterling will recover slowly once we have a prime minister in place. The conservative race for prime minister will today drop to two candidates and we will have a new prime minister in place 2nd September.

If you have a currency requirement it is important to be in touch with an experienced broker. The timing of your trade is key during such a volatile  period, If you have a veteran broker on board he can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to assist with your trade I will be happy to help. Let me know the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the UK and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 4% saving in comparison to high street banks. Please do get in touch by contacting me at dcj@currencies.co.uk. Thank you for reading my article and I look forward to hearing from you.

GBP/EUR Key data releases this week (Daniel Johnson)

The Pound has lost value against  the Euro as of late. There has been a variety of poor data from the UK which has weakened Sterling.  The main factor in any GBP/EUR trade the moment is possibility that the UK may exit the EU . The reason for recent poor data I feel is a direct result of the EU referendum. The uncertainty it has created is pushing away investors.  A  poll in the Economist  has the Leave camp ahead at 41%, the remain camp just behind at 40% and the remainder undecided. There will be a lot of volatility on GBP/EUR  up until voting day on 23rd June.

Keep an eye on manufacturing production and industrial production in the UK released at 08.30 tomorrow.  I would expect to see a contraction which could weaken Sterling further. At 11.00 on Thursday we  have the Bank of England interest rate decision. It is very doubtful there will be any change and I would also be surprised to see any change in the monetary policy committee’s vote.

If you have a currency requirement I would be happy to assist. If you have to perform a trade in the build up to the EU referendum it is vital you speak to an experienced broker. There are contract options available which can help to maximise your return. I specilaise in property and commercial trade and I am in a position to beat the banks exchange rates by as much as 5%.  Please provide me a ball park figure as to the amount you wish to trade, the currency in which you wish to trade and the time scale you have to perform your trade and I will provide an individual trading strategy to suit your needs. Feel free to contact me on dcj@currencies.co.uk for a quote. If you would like to find out more about the company I work for, visit our website at www.currencies.co.uk.

Will the ECB Rock GBP/EUR by Increasing QE? (Daniel Johnson)

ECB Interest Rate Decision 12.45pm Thursday 10th March

Mario Draghi the President of the European Central Bank is poised to push the button on a new stimulus package in the Eurozone.  We have seen a return to deflation and stunted growth figures coming out of Europe. There is strong possibility he will decrease the ECB’s key overnight deposit rate from -0.3% to -0.4% a severe penalty for investors leaving their funds at the Central Bank. He is also tipped to increase monthly increments to the Quantitative Easing (QE) program from €60bn to €70bn. QE is essentially pumping money into an economy in order to stimulate growth. If the increase occurs expect the Euro to weaken significantly.

When Should I buy Euros?

If you are a Euro buyer I would move after the 10th March but before 16th March. George Osbourne is set to deliver the budget on 16th and there is the possibility of some substantial cuts which could bring down the value of Sterling. I would be looking to move before this, voting on the side of caution to avoid any potential losses.

When Should I sell Euros?

Move today or tomorrow morning, to hang on to your Euros until after the QE decision is a massive gamble. I would vote on the side of safety. There could be as much as a 5 cent drop for the Euro against the Pound.

If you have a currency requirement feel free to get in touch. I will be happy to assist with your trade and I will guarantee to beat any competitors rate of exchange. I will come up with a trading strategy to suit your individual needs with no obligation to trade. Contact me at dcj@currencies.co.uk or call me on 01494 787478 and ask for Daniel Johnson. Thank you for reading my blog.

Poor UK Retail sales figures dent the pounds purchasing power! (Dayle Littlejohn)

Today the momentum that has been gathering for the pound against the euro diminished, as the UK released poor Retail sales figures. Retail sales fell over 2.5% compared to last months figure showing a drastic decrease in consumer spending.

Tomorrow Mario Draghi is set to address the public with his latest press conference. The latest speech with give an insight into how the ECB observe the current state of the European economy. Further to this Draghi could announce the likelihood of the ECB increasing the Q.E program in December therfore I expect GBP/EUR to have a volatile period tomorrow morning.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on drl@currencies.co.uk. 

Big Movement on GBP/EUR caused by Super Thursday (Daniel Johnson)

Ahead of the Interest rate decision and MPC vote results we saw GBP/EUR move to 1.42. Although the rate decision itself is extremely unlikely to see any change, the Monetary Policy Committee vote can move markets. There are 9 members who vote either to hike rates, keep them on hold or drop them. There was rumour that the two new MPC members could bring a rate hike vote to 7-2 against.

It came in at the usual 8-1 against which saw Sterling drop sharply against the Euro, GBP/EUR now sitting at 1.4060. Moving forward I think if the Interbank level sits above 1.40 it is still excellent time to buy Euros, especially now that Carney the head of the Bank of England has announced there will be no rate hike until 2017.

I currently have a large volume of GBP/EUR trade going through which I can tag clients on to and achieve a very favourable rate. I can guarantee to beat any competitor’s rate of exchange.

Thank you for reading today’s blog, if you have a currency requirement and would like to discuss the outlook for GBP/EUR or any other currency pairing please do get in touch I will be happy to reply personally. My e-mail address is  dcj@currencies.co.uk and if you would like to give me a call ask for Daniel Johnson on 01494 787478.

 

GBP/EUR gets helping hand from corporate misconduct (Joshua Privett)

The post below notes the likely weakening effect we will be seeing for Euro value tomorrow during the speech by Mario Draghi, the head of the European Central Bank, tomorrow and markets are already pricing these changes in ahead of the event.

The reason why the rates spiked higher than expected was also due to the news emerging about the ethical foul-play of German car manufacturer Volkswagen. The CEO admitted that the company had intentionally deceived regulators about the emissions coming from their cars. As a result, for more than a year their cars have been illegally polluting. They face fines rumored to be more than €17bn. Their stocks fell 20% and with 1 in every 7 Germans employed in the automobile industry, confidence in the Eurozone’s powerhouse economy has dwindled.

I am expecting further Euro weakness as we journey into Mario Draghi’s speech tomorrow. Anyone with Euros to buy may see one of the last significant spikes in their favour this year now that Greece has been swept under the rug for the foreseeable future with this recent election result.

I strongly recommend that anyone with Euros to buy in the next few months should contact me ahead of the event to discuss a strategy to take advantage of spikes in your favour throughout the course of Wednesday. Limit orders can be placed through specialist foreign exchanges such as ourselves which Banks do not provide to customers. This is where currency is automatically bought for you if the rate spikes up to a level of your choosing, even for a few seconds. Our clients have regularly taken advantage of Draghi’s speech in such ways and reasonable goals have achieved profitable results. Contact me by calling 01494 787 478 and asking reception for Joshua to receive tailored advice on your situation and a free quote on your transfer. jjp@currencies.co.uk

GBP/EUR spiking following Greek Election (Joshua Privett)

The Syriza Party have held on power after a weekend election which surprised everyone with the clear majority of the Syriza party. With polls in a dead heat, the margin of victory of 11% showed a shockingly strong mandate for the Syriza Party. Their share of 35% of the vote was enough for them to gain a coalition easily in order to form their majority.

The party who negotiated the bailout remains in power, and the rebellious elements of their own party who voted against the bailout have been purged with the recent election. So with no change in the current political situation, the dead heat that Euro buyers were hoping for did not take place and the Euro has not crashed in value as we have seen in the past with these events. During this morning’s trading it remained relatively stable.

This afternoon however, GBP/EUR rates still managed to spike. 

On Wednesday Mario Draghi, the head of the European Central Bank will be giving his monthly speech surrounding the health of the Eurozone economy. There has regularly been significant market movement during this hour long period. It’s common knowledge that he believes a weak Euro is key to their economic growth. It makes exports more competitive and stimulates spending rather than saving.

So most analysts are expecting the Euro to weaken as there are rumours he will announce further Quantitative Easing to make inflation healthier and provide more credit to the economy. This is essentially printing money, and if more is in circulation then the worth of each individual Euro declines.

With Greece swept under the rug, and no other big stumbling blocks on the horizon for the Eurozone, the opportunities presented leading up to Wednesday could be the best rates available for the rest of 2015 for GBP/EUR should Draghi announce further financial intervention.

I strongly recommend that anyone with a Euro requirement to buy over the next few months should contact me on 01494 787 478 and ask the reception for Joshua to gain tailored advice on your requirements ahead of the event on Wednesday as well as a free quote on your transfer. If your requirements are not until later in the year current rates can be pegged at no additional cost. jjp@currencies.co.uk

 

 

When should I buy/sell my euros? (Dayle Littlejohn)

For clients who are looking to buy/sell a currency its important to note that the currency markets move every second. Over the last 7 days GBP/EUR exchange rate has fluctuated over 2 cents making a €200,000 purchase over £2,000 more expensive. On the reverse if you had €200,000 to sell you would have made an extra £2,000 today compared to a week ago.  There  are two main reasons for the euro making gains against sterling

1) Finally it appears that Greece’s parliament has backed a five year bailout of €86bn, which has eliminated the risk of Greece leaving the euro.

2) Average earnings within the UK dropped 0.4% on Wednesday. Very simply, if wages drop, people dont spend. If people are not spending inflation wont rise, (as predicted by Mark Carney, Governor of the Bank of England) and finally if inflation doesn’t rise I find it difficult to see the Bank of England hiking interest rates.

The Golden question from clients is ‘when should I buy/sell my sterling/euros?’  please see below what I would do! 

If you need to buy euros short term, (next 4 weeks) I would buy as soon as possible. I believe the euro will continue to make gains against sterling as confidence in the Eurozone starts to return, as Greece have made the decision not to leave. It wouldn’t surprise me if the central level/ inter bank level drops to 1.38/1.39 by the end of trading next week.

If you need to sell euros short term (next 4 weeks) I would look at placing a limit order into the market.This is where you look to target a certain rate and once that rate is achieved our automatic system will buy it for you. A great way of trading off the back of a spike in your favour!

Longer term I expect Mark Carney (Governor of the Bank of England) to keep insinuating that a interest rate hike is on the horizon and then this to be backed up by the voting members of the Bank of England. Therefore by Xmas it wouldn’t surprise me if GBP/EUR exchange rates hold steady in the lower to mid 1.40s.

The most important piece of advice I can give, is to euro sellers!! I am a strong believer that rates aren’t the best at the moment however they will get worse and the next few weeks might be the last window to sell before rates continue to steadily climb.

If you have a currency transfer to make and want to achieve the best exchange rate possible then feel free to contact me directly for a free quote. Dayle Littlejohn drl@currencies.co.uk.

 

 

Sterling makes gains against the Euro (Tom Holian)

Sterling has made gains against the single currency since the start of the week as the British Retail Consortium released its latest update of UK retail sales.

The results came out better than expected at 0.2% which has helped the Pound to gain vs the Euro.

Tomorrow morning sees the eagerly anticipated release of UK unemployment which is a key indicator to the health of the British economy.

The expectation is for 5.6% so anything different is likely to cause volatility for Sterling Euro exchange rates.

With retail sales looking good and GDP still encouraging for the UK if the data tomorrow is strong we could see further gains for Sterling vs the Euro.

Further the Greeks have until 20th August to organise their next bailout and as yet still the problems continue which is causing Euro weakness.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Sterling Euro hits 1.43 (Tom Holian)

Sterling has hit 1.4350 at the high today after suffering losses vs the Euro during yesterday’s trading session.

The Bank of England minutes published this morning showed all 9 members wanting to keep rates on hold but it is the ongoing saga in Greece that are causing the problems for the single currency.

Although Greece has opened talks with Europe it is facing problems internally with a vote taking place tonight to ratify the bailout terms of offer.

The failure to reach a conclusion could result in further Euro weakness but I think an agreement will be made and this could strengthen the single currency vs the Pound.

UK Retail Sales are due out tomorrow and if the figures are lower than the expected figure which is rather high recently any negative data could see Sterling falling vs the Euro.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk