Tag Archives: exchange rates

Will GBPEUR rise or fall in July? Important news for GBPEUR clients….

Since the UK election GBPEUR has only moved 2 cents between the high and the low which some would read as boring, I read as opportunity! Clients looking to buy or sell the pound or Euros following say an overseas property purchase or sale, should be preparing for further volatility on the foreign exchange market that could well present some fresh opportunities to maximise their exchange rate. On a €100,000 sale into sterling a cent at current levels is £750 more in the sellers pocket. We work to highlight improvements on the market to clients in such positions to help them make an informed choice about when to execute their exchange.

If you have a transfer to consider buying or selling Euros for pounds getting the timing on your exchange correct is critical to getting the most for your money. With GBPEUR having been trapped in a range between 1.1270 and 1.1468 there has not been much opportunity for either Euro buyers or sellers to capitalise. I have many of my clients who need to buy Euros for an overseas property purchase or to pay business Invoices holding off expecting the rate to recover. And too, many of my Euro sellers are also holding off expecting the pound to crash!

With so many different potential outcomes from the rates being prepared is vital to capitalise on spikes or to limit any losses. A very popular contract type at present is a limit order whereby we look to automatically purchase a currency for you if we do get to a certain level. Popular Limits buying Euros are at 1.15 currently.

If you have a transaction to consider in the future then making some plans in advance is crucial to getting the best deals. We can very easily set up one of these orders to help limit your exposure and maximise the return.

For more information on the GBPEUR forecast and the best way to maximise your rate please speak to me Jonathan Watson to get a full overview and discuss strategy. Please email jmw@currencies.co.uk with an overview of your position to get the latest news and updates.

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

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

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

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

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

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

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

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 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.

GBPEUR rises due to Bank of England (Dayle Littlejohn)

Earlier in the week UK inflation numbers rose to 2.9%, 0.9% above the Bank of England’s target which gave support for the pound and all eyes turned to today’s Bank of England’s interest rate decision.

Each month members of the Bank of England (8 to be precise), vote to decide whether to hike, keep on hold or cut. This afternoon 3 members voted in favour of raising interest rates which surprised the market and GBPEUR exchange rates increased over a cent and therefore made back some of the losses from the shock UK general election decision. Looking further ahead if inflation levels continue to rise over the next 2 quarters I wouldn’t be surprised to see the Bank of England act.

Its a quiet day for economic data that will have a major impact on GBPEUR exchange rates tomorrow. It has been reported that Brexit negotiations will begin Monday morning which surprises me as Theresa May has not formed a government as of yet. Could this happen tomorrow? Once the government is formed I believe this will provide further strength for the pound and GBPEUR exchange rates will start to rise towards 1.15.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other UK brokerages and high street banks.

I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

Critical 36 hours for GBPEUR exchange rates!

GBPEUR has opened this morning flirting around the 1.15 mark as markets digest events for a crucial couple of days for this pairing. The headline event is of course the UK election which takes place today, results due early tomorrow morning. Today however we have the latest ECB (European Central Bank) meeting which will be closely followed for information relating to any changes in monetary policy from the ECB. All in all I expect the predictions will be correct and GBPEUR will rise as Theresa May secures a much larger majority although I don’t see a landslide.

GBPEUR has slipped down to almost 1.13 in the last week as markets begin to price in the possibility of a Labour win or indeed a hung parliament. With the election taking place at such a crucial time with Brexit running in the background markets are being careful to not be caught out. Markets were surprised by the Trump and Brexit votes of last year which saw big swings on exchange rates, this time investors are being very careful about placing too high an expectation on any particular outcome.

Overall nothing can be taken too much for granted as historically the Conservative vote has been largely underestimated in the polls, this was true following the 2010 and 2015 election so may well see Theresa May winning more the the polls indicate. I expect GBPEUR would fall down to say 1.12 on a hung parliament, 1.10 on a Corbyn victory and 1.16-1.17 on a majority of 50-80. Anything above 80 would probably lead to rates approaching the very high teens, should May match Thatcher’s landslide of 144 then I think 1.20 could be on the cards.

If you have a transfer to make making some plans around these important events is I believe crucial to getting the best deal and not missing out. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

Pound drops as UK government plans to trigger Article 50 this afternoon (Joseph Wright)

Late last night Prime Minister Theresa May signed the letter triggering Article 50, and this letter will be delivered to the President of the European Council, Donald Tusk later this afternoon at 12.30pm.

This will officially start the Brexit process in which the UK has 2 years to leave the European Union, and in this time the UK will be doing its best to set up trade negotiations both in Europe and outside of it.

In the early hours of this morning the Pound dropped, which is a change to the currency’s general direction over the past week or so as we’ve seen the currency gain. Yesterday the pair hit 1.16 which was GBP/EUR’s highest level since the beginning of the month, and since this mornings drop the Pound has recovered some ground as it appears the currency is struggling for direction.

I think there could be some further swings during today’s trading session, especially this afternoon once Article 50 has been triggered and May offers a speech. Should she give anything away regarding the UK’s plans moving forward I think there could be movement in either direction for the Pound’s value.

If you would like to be kept updated regarding major news and movements within GBP exchange rates do feel free to get in touch.

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

 

Will the pound rise or fall tomorrow against the Euro? (Dayle Littlejohn)

Since the UK public voted out of the European Union the financial investors have been unsure whether UK would actually leave or if another referendum would take place. After a High Court ruling, a Supreme Court ruling and some other stumbling blocks UK Prime Minister Theresa May is set to trigger Article 50 tomorrow morning.

For euro sellers buying pounds this could be the spike in the market that you have waited for as I believe exchange rates will drop 1-2% in your favour. We are expecting a busy day on the market and I will have to use my time wisely however if you are looking to transfer your euros into sterling and want to achieve the best rates tomorrow feel free to email me directly with your contact details. I will give you a call first thing tomorrow morning to run through the process and a strategy to maximise your returns drl@currencies.co.uk.

For euro buyers, I hope you have purchased when the market increased to the higher teens, however if you haven’t again you can email me and I will call you first thing to secure your currency before the Prime Minister makes the announcement or another strategy would be to sit back and ride it out as the French election towards the end of April could provide opportunity. Anti EU Marine Le Pen has gained momentum in the last 3 months ans is neck and neck with pro EU Macron. If Le Pen managed to get into power we could see another country holding a referendum in regards to EU membership

With all of the articles I write, I normally state that I will respond via email however as inquiries are coming think and fast, I will only be replying to clients in the form of a call tomorrow. Therefore if you do not provide your telephone number do not expect an email until Thursday morning drl@currencies.co.uk.

Enjoy your evening and I look forward to speaking with you tomorrow morning.

 

GBPEUR falls due to UK inflation (Dayle Littlejohn)

Speculation has been rising within the UK this year, that the Bank of England will be forced to raise interest rates towards the end of the 2017 due to rising inflation. Inflation has been on the rise due a weaker pound since the EU referendum vote and the bond purchasing program set out by the central bank.

Inflation numbers this morning continued to climb however not at the pace that speculators had anticipated and this led to a sell off off the pound earlier this morning. However the pound has recovered throughout the day. For your euro buys and sellers, if you had been in contact trading at the best points of the day would have generated you an extra cent.

Looking ahead the UK are awaiting the decision from the House of Lords to whether Theresa May can trigger Article50 and therefore start the process of leaving the European Union in March. My personal opinion is that this event will cause sterling weakness and GBPEUR exchange rates will fall therefore making euros more expensive to buy. On a positive note this could be the spike in the market that euro sellers are looking for.

If you reading this website for the first time as you need to convert GBPEUR, feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

If you are already using a brokerage and would like to a free quote email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands.

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

Will 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 can we expect on GBPEUR exchange rates today?

Well folks it is the morning we have been waiting for, today we have the release of the UK’s Supreme Court decision which is at 09.30 am. This long awaited decision by the court will determine whether or not it is legal for the Prime Minister and her Government to trigger Article 50 without the consent of Parliament. It is widely expected to lead to turbulence on rates but the general impression is the previous decision will be upheld and sterling will strengthen.

The outcome is not too clear but GBP strength does seem the likelihood. The reason it is not clear is because the decision might be that Theresa May wins the case and can act without parliament. However we are already aware Theresa May will be seeking more of a ‘clean’ or ‘hard’ Brexit from her speech last week. Therefore it can be argued that if the decision is upheld by forcing Theresa May to go through parliament the pound may weaken because it is derailing some of the plans Theresa May outlined last week which were so well received by the markets. So where before last week we would have expected GBP strength, now there is a possibility the pound may weaken.

Expectations on GBPEUR could be as high as 1.18 and as low as 1.13 in my opinion. Whilst the potency of today’s decision is somewhat tamed by the recent speech from Theresa May where she said she would give parliament a vote on the final bill there are various reports stating the PM has already planned many a contingency plan. With most MP’s expected to back the Article 50 bill for fear of going against the will of the people parliament’s power will be somewhat limited anyway.

I expect GBPEUR to be trading a bit closer to 1.17 by the close of business but expect this could largely be a bit of a damp squib. For GBPEUR buyers however this could be the opportunity you have been waiting for and with the pound likely to come under further fresh pressure in the future whatever the outcome today, clients buying Euros with pounds should probably be looking to capitalise on any improvements.

For fresh updates and analysis on what the Supreme Court case means for your currency exchanges please speak to me Jonathan by emailing jmw@currencies.co.uk.

When should I buy my euros? (Dayle Littlejohn)

With GBPEUR exchange rates up and down like a yoyo, this week should be no different.

The Supreme Court is set to realise their verdict Tuesday and national newspapers are suggesting UK Prime Minister Theresa May will need to attain Parliament’s approval if she wishes to invoke Article50.

If the newspapers have it right, I expect this could lead to the pound gaining momentum which in turn makes purchasing euros cheaper.

However 2016 was the year of surprises could we see more of the same this year? Who thought Donald Trump would now be President of the United States of America?

Later in the week UK Prime Minister will meet President Donald Trump to discuss arising issues such as nato, terrorism and most importantly for GBPEUR exchange rates a free trade deal. If Mr Trump takes to his famous Twitter account to address the public, this could cause major swings.

All in all, this could be a positive week for GBPEUR exchange rates, however I still believe the closer we get to the Brexit deadline GBPEUR exchange rates will fall.

For further information in regards to GBPEUR exchange rates 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 the options available to you and the process of using the company I work for drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

 

GBPEUR increases 2% (Dayle Littlejohn)

Euro buyers have received a fantastic boost today due to UK Prime Minister Theresa May press conference. The key message from the speech is that the UK will be leaving the EU in March and she plans to pull the UK out of the single market.

You would have thought the pound would have started to fall against the euro off the back of these comments however she also stated Parliament would get to vote on the final decision. This could be a hint that the Supreme Court is going to rule in favour of the UK and that’s why the pound has gained value.

It will be interesting to see how the pound reacts when the Supreme Court releases its decision. I believe the Supreme Court will rule in favour of the High Court and therefore the pound could make further gains and buying euros could become cheaper next week.

For further information in regards to GBPEUR exchange rates 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 the options available to you and the process of using the company I work for drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

Will the pound continue to fall against the euro? (Dayle Littlejohn)

For euro buyers exchange rates have taken a tumble this week due to UK Prime Ministers Theresa May’s press conference with Sky on Sunday. She insinuated that the UK only have one option and that’s to leave the EU and single market. Mrs May has commented on the recent decline for the pound and is actually blaming the media.

Today the Chairman from HSBC has warned the UK that more clarity is needed as the leading bank are considering moving many jobs from the UK to Paris. If this materialized I am convinced this would have a detrimental impact on the pound and if other large companies follow suit buying euros could become more expensive.

Looking ahead the key decision this month that will continue to impact sterling exchange rates is the Supreme Court decision, which is set to be released any day. The Supreme Court need to decide whether Mrs May has the power to invoke Article50 or if she needs parliament approval.

This decision could potentially drive exchange rates back towards 1.16 however if the Supreme Court vote in favour of the PM I believe it wont be long until GBPEUR is back to the lows of 2016 (1.10-1.12).

For further information in regards to currency feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

 

Will the GBP/EUR pair fall back to their 2016 lows? (Joseph Wright)

Further Brexit jitters have caused the GBP to EUR exchange rate to plummet over the past couple of trading sessions.

In an interview over the weekend the UK Prime Minister, Theresa May commented that her primary focus is likely to be control over immigration as opposed to retaining access to the single market. This suggests a bias towards a ‘Hard Brexit’ as opposed to a softer approach and the currency markets have reacted to this news with the GBPEUR pair breaking below 1.15 and approaching the early 1.14’s at the time of writing.

May announced that the UK would not be able to keep ‘bits’ of EU membership, and since the comments the Pound has been falling across the board and notably against the Euro.

There is some distance for the pair to fall before hitting the lows of 2016. GBP/EUR hit 1.1028 at the beginning of November of last year and as the planned Brexit approaches I wouldn’t rule out further moves towards this level and I think that if the government is able to invoke Article 50 by the end of March as Theresa May plans, I think we could see the pair fall below 1.10 potentially.

Although economic data isn’t the predominant mover of exchange rates currently involving the Pound, investors should pay close attention to UK releases as negative updates have the potential to cause sell-offs in an already under pressure Pound. UK GDP figures will be released tomorrow so feel free to get in touch if you wish to be kept up to date regarding this event.

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.

The Pound drops in value (Daniel Johnson)

The weaker Pound hits the Retail sector

Retail data is starting to filter through and the problems caused by Brexit are starting to appear. The weaker pound is causing retailers to pay more for their goods and as such they are raising prices on their products. The consumer is now reluctant to purchase and we are seeing figures fall as demonstrated by NEXT’s recent sales data, a fall of nearly 12%. Marks & Spencer’s figures are soon to be released and there is also expected to be a fall.

We could well see a surge in inflation. In this case inflation will not be good for our economy, wage growth will be unable to keep up and the pound will suffer as a result.

What will effect GBP/EUR during 2017?

The main factor in Sterling weakness is the uncertainty surrounding trade negotiations post-brexit. The Supreme Court Judgement on whether parliament will get to vote on the evoking  of article 50 could dictate GBP/EUR levels. If parliament does get the vote, this means there is the possibility of a soft brexit and we should see the pound rally. I think this is the likely outcome and I would expect the ruling to come through between the 12th-17th January.

There are due to be three elections involving EU countries throughout 2017. All of which could be won by right wing parties who have intentions to hold referendums. If one of these referendums comes to light it could cause serious damage to Euro value. Sterling fell nearly 20 cents against the Euro due to Brexit.

Keep also in mind the dire situation with Italian banks, terrible inflation and the Greek debt crisis and the Euro could be in for a very rough year.

If you have a currency requirement I will be happy to help. I can provide a free trading strategy to suit your individual needs and also off the best rates of exchange in the Country. Please do get in touch by contacting me at dcj@currencies.co.uk. Thank you for reading.

What to expect for GBPEUR exchange rates this week (Dayle Littlejohn)

Today the Italian public are taking to the polls to decide whether more power should be given to parliament and taken away from the Senate.

Prime Minister Matteo Renzi believes money will be saved by making cuts to the Senate and the law making process will be faster and more decisive. The PM has made it clear that his position as PM will be unattainable if he loses the vote.

This has paved a way for anti-establishment party Five Star Movement led by Beppe Grillo. Mr Grillo will gain more power if Renzi resigns and he wants to hold a referendum in regards to keeping the euro, as many Italians are fed up that the economy is stagnant.

The polls are suggesting the result will be close however there is a good chance a no vote will occur which will lead to the Prime Ministers resignation. If this is the case I expect the Euro will continue to lose value tomorrow and therefore GBPEUR exchange rates will break through 1.20.

However Brexit negotiations early next year will put pressure on the pound and I believe quarter one is going to be a tough quarter for sterling. If you have euros to buy before UK Prime Minister Theresa May triggers Article50 in March I would suggest buying euros up front some point this month.

 

If you are converting GBPEUR in the upcoming months and are looking to achieve competitive rates of exchange whilst receiving regular economic information feel free to email me the reason for the transfer (company invoice, property purchase) the timescales you are working to and I will respond with the options available to you along with the process of converting currency. My direct email address is drl@currencies.co.uk and I look forward to receiving your email.

GBP/EUR spikes upward on hopes of a Soft Brexit, will the pair breach 1.20? (Joseph Wright)

The Sterling to Euro exchange rate spiked to a new 3 month high yesterday afternoon off the back of comments from David Davis, the Brexit Secretary.

Those that have been following the Pounds performance this year will be aware that any talk of or indications of a ‘Hard Brexit’ has resulted in Sterling weakness, and the opposite can be said regarding allusions towards a ‘Soft Brexit’.

When answering a question in the House of Commons yesterday Mr Davis suggested that the UK government may be willing to pay for access to the single market and this comment was met with positivity, as the Pound reached 1.1956 at it’s highest point.

The Pound entered December in bullish fashion and this was a continuation of how it performed in November after the currency gained around 7-8 cents through the month.

Those waiting for the right time to convert Pounds into Euros have been presented with a substantially better trading level than they would have been if they made the deal a month before.

At our brokerage we’re able to offer commercial exchange rates meaning that the rates we offer are closer to the inter-bank level than those offered by typical high street banks/providers.

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

GBPEUR reaches a 5 week high! (Dayle Littlejohn)

Yesterday UK Chancellor Phillip Hammond confirmed that growth forecasts have been cut by the office for Budget Responsibility however the International Monetary Fund still believe the UK will perform as well as Germany and better than its neighboring countries such as Italy and France.

GBPEUR has increased close to 1% off the back of the next and now is sitting at a 5 week high! For euro buyers, if you compare rates now to 5 weeks ago you will save a €200,000 purchase is now £12,300 cheaper!

Looking ahead exchange rates should remain buoyant for the remainder of the month however the Supreme Court ruling in December could start to pressure sterling exchange rates once more.

If you are buying or selling euros this year, today is the day to get in touch. Many people still believe the only way to transfer large amounts of money is through the bank and this is not the case. The company I work for enables me to give better exchange rates than high street banks which consequently means the individual saves money.

I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

 

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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