Tag Archives: GBP strength

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.

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

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

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

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

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

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

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

GBP/EUR exchange rate now approaching 1.17, but will new Brexit fears weaken the Pound? (Joseph Wright)

Yesterday morning the Supreme Court delivered its verdict on whether or not the UK government require parliamentary approval before invoking Article 50, creating some large swings between the GBP/EUR exchange rate.

The Supreme Court decided to uphold the High Court’s decision, meaning that Theresa May will need to consult parliament before formally beginning the Brexit process. Many had expected this outcome to result in Sterling strength and initially the Pound did spike upward, but further complications soon weighed on the Pound causing it to drop.

Moving forward the Pound could continue to come under pressure as one of the key announcements yesterday was that the UK government does not need the permission of the UK’s devolved nations before invoking Article 50. Scottish First Minister, Nicola Sturgeon was quick to raise this point and suggested the need for another Scottish Independence referendum.

Sterling came under significant pressure during the last referendum on Scottish independence, and should the matter surface once again it’s likely we can expect to see the Pound soften in value due to further uncertainty on the horizon.

Outside of Brexit related news tomorrow morning could be eventful for Sterling exchange rates as UK GDP figures will be released at 9.30 am tomorrow morning, and the expectation is for a 0.5% through the 4th quarter of 2016.

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.

 

Sterling climbs on positive Inflation data (Joseph Wright)

There has been a change to the current down of Sterling weakness today, as some better than expected Inflation data has boosted the Pound vs the Euro as well as against most other major currencies as well.

The data showed that over the past year  CPI (Consumer Price Index) Figures have increased by 0.6% up from 0.5% the previous year. This is a good sign that many weren’t expecting as it demonstrates that the overall cost of living is increasing which is a positive sign for an economy, which is why I’d imagine that Pound strengthened today.

Good news for the Pound was long overdue as the currency has been declining on almost a daily basis as of late. The implementation of an additional £80bn worth of Quantitative Easing, starting from the 4th of August has been the catalyst for this weakness, and from a personal standpoint I am struggling to remain optimistic regarding the Pound moving forward.

I think that should economic data out of the UK disappoint now that it’s in it’s post-brexit environment, investors will be more sensitive than usual to this news, and therefore we could see further sharp sell-off’s for the Pound should the data disappoint.

If you are planning to use GBP to buy a foreign currency it may 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.

 

Are GBP/EUR Rates Heading Back Above 1.30 (Matthew Vassallo)

GBP/EUR rates are creeping back up towards 1.30, following poor Eurozone Manufacturing & Services data released this morning. With the official reading coming out under expectation, the markets have reacted accordingly and the EUR has lost value as a result. This has continued the trend set last week, with Sterling gaining value due to the most recent referendum poll, which indicated the Remain camp had a clear lead. We also had poor Eurozone inflation data and this conspired to push GBP/EUR back above 1.30, although the Pound could still not find enough support to hold its position above that threshold.

Despite Sterling’s recent improvement there are still varying media reports arguing both for and against leaving the EU. These are likely to cause further uncertainty in the markets and this is unlikely support any major improvement for the Pound form the current positions. If we see a sustainable increase above 1.30 then the Pound may well find support around that level but under current conditions I still feel it may struggle to do this.

It’s a fairly sparse week in terms of economic data for both the UK and the Eurozone, so it’s likely Thursday’s UK Gross Domestic Product (GDP) will be of most interest to investors. It was the previous GDP release which boosted Sterling’s value, so it will be interesting to note whether this positivity is backed up by Thursdays official figure.

If you have an upcoming GBP or EUR currency requirement and would like to discuss the current market conditions and forecasts, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of my team for Matt. Alternatively, I can be emailed directly on mtv@currencies.co.uk

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. 

GBP/EUR Shooting Towards 1.36 (Daniel Johnson)

With little data out of r Sterling today it seems CPI figures from the US have caused quite a stir. With USD/EUR the most traded currency pairing it has caused an impact on GBP/EUR. If I was a  Euro buyer short term I would be seriously tempted to get something done considering the UK has just entered deflation. If you have a tendency to gamble and are looking longer term, wait until Draghi pumps in some more cash for his QE program which will cause further Euro weakness.

I do have several large GBP-EUR trades going through in the coming days that potentially I could tag new clients on to and achieve a very competitive rate. Please do get in touch if this is something of interest. I will guarantee to beat any bank or brokerage’s exchange rates.

I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements including your time scale and the levels you are hoping to obtain and I will notify you of  any significant movement.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

Sterling continues to lose ground against the euro (Dayle Littlejohn)

Its been another poor day for clients looking to buy euros. GBP/EUR dropped over a cent and half, however recovered to a cent loss by the end of the trading day. This is a 6 week low for GBP/EUR.

This comes off the back of Mario Draghi yesterday eliminating all talks of an increase in quantitative easing. Draghi explained that inflation is a worry and the ECB would step in if required, however they wouldn’t just up the amount for a short term solution.

Further to this it now appears the Greek issue has been resolved, as Alexis Tsipras won the general election. This has given further support for the euro.

I’m of the opinion a fantastic window of opportunity has now presented itself for euro sellers. Therefore if you have been holding onto euros for a better exchange rate, I would recommend emailing me directly with your requirements drl@currencies.co.uk or alternatively call me directly on 0044 1494 787 478.

 

GBP/EUR Rates Spike Again (Matthew Vassallo)

GBP/EUR rates have spiked up during Wednesday’s trading, with the pair moving back towards 1.42 on the exchange. After what now looks like another false dawn for the EUR early this week, the Pound has gathered momentum and although it still a couple of cents below the recent highs, it does seem as though it will continue to find support above 1.40.

Despite a new agreement in place between Greece and its creditors, reports are indicating that the chances of Greece managing to make their repayment deadline in August are minimal at best. This is the key issue for the Eurozone at present and until we have some sort of longer-term solution, or Greece leaves the Eurozone, then the EUR is going to struggle to make any sustained impact against GBP.

There will still be short-term opportunities for those clients selling EUR, as we saw on Monday but I do not expect a major turnaround anytime soon.

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 mtv@currencies.co.uk

To what extent will the GBPEUR recover?

Euro buyers should be ready for more losses in the future as it looks more and more likely the GBPEUR rate will fall further in the future. It is rather upsetting if you have become very used to getting 1.40 to suddenly adjust to 1.35, but think how difficult it might be to adjust to getting 1.30 or worse!

No one can tell exactly what will happen on exchange rates but working out the figures well in advance is the best way to ensure you don’t lose out if things do change. For more information at no cost or obligation why not speak to me Jonathan on jmw@currencies.co.uk about the expectations on the exchange rate.

GBP/EUR Rates Heading for 1.40 (Matthew Vassallo)

GBP/EUR rates have moved back up towards 1.40 during Wednesday’s trading, with the EUR finding just enough support to hold it below this level for the time being. The Pound’s surge has continued this week pushing Sterling’s value up by almost 3 cents, providing EUR buyers with some of the best levels of the past 7 years.

Whilst many clients will now be waiting for 1.40 to become available, I would be wary about assuming this trend will just continue. The latest Bank of England (BoE) minutes were released this morning and showed that all 9 members were still against a rate rise in the UK, news which may dampen investor confidence in the Pound moving forward. There was also reports yesterday that Greece were on the verge of coming to a deal with the International Monetary Fund (IMF), which if true is likely to bring some much needed market support for the single currency.

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 mtv@currencies.co.uk

GBPEUR Spike

GBPEUR has today spiked up to 1.3563! This is an incredibly good rate and perhaps much higher than many people expected at the turn of the year. Therefore if you have any transfers to consider why not get in touch with a specialist who can help you to get the most for your money.

We are currency specialists who can assist not just with the very best rates of exchange but also all the information to make an informed decision about when to execute your transfer. For more information at no cost or obligation please contact me direct on jmw@currencies.co.uk

Will GBP/EUR Rates Hit 1.30? (Matthew Vassallo)

GBP/EUR rates hit a fresh 2 year high last Friday, with the pair breaching 1.29 on the exchange. This move was not anticipated and the EUR immediately found support, which has pushed rates back to their current levels.

With the pair now fluctuating between 1.27-1.28, the key question for investors is whether we will see 1.30 hit by the end of Q1 of this year. Opinions are mixed but personally I feel if we were to see a spike it would certainly not last long and with at least 2 key resistance barriers to break just above 1.29 and then again near 1.30, there is still a lot of protection for the single currency under current economic conditions. These of course, can change quickly and aggressively but as it stands I cannot see GBP/EUR surpassing 1.30 in the short-term.

It is likely the European Central Bank (ECB) will embark on a series of aggressive rounds of Quantitative Easing before long and whilst this may destabilise the EUR initially it is likely to be of benefit in the longer-term. We also need to consider that the Bank Of England (BoE) will not want to see Sterling’s value soar, for fear of alienating the Eurozone (our largest trade partner) even further.

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 mtv@currencies.co.uk

GBP/EUR Rates Hit 1.2770! (Matthew Vassallo)

GBP/EUR rates hit 1.2770 at today’s high, following an aggressive spike for the Pound yesterday. Sterling gained momentum early during Thursday’s trading following better than expected UK Retail Sales figures and this was the catalyst for yesterday’s spike.

With Sterling now getting close to a two year high against the single currency again, many investors will be hoping this positive momentum continues and pushed the Pound up towards 1.30 on the exchange. Personally I still feel we need to see another shift in market conditions in order for GBP/EUR to breach 1.30 and the EUR has found support around this level in the past.

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 mtv@currencies.co.uk

Where Next for GBP/EUR Exchange Rates? (Matthew Vassallo)

GBP/EUR rates touched 1.28 during Tuesday’s trading before dropping back during afternoon trading. With the EUR seemingly finding support around 1.28, Sterling may struggle to break this barrier in the short-term, despite the positive Manufacturing data posted yesterday.

Looking ahead and there are a number of key data releases this week, which could affect both GBP & EUR exchange rates. Tomorrow we have the latest Eurozone Retail Sales figures, along with some PMI data. However, it is Thursday which is likely to dominate headlines with the latest Bank of England (BoE) & European Central Bank (ECB) interest rate decisions and monetary policy statements, both if which are considered key market movers

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 mtv@currencies.co.uk

Sterling slightly up as the Scottish referendum gets ever so closer. (Ben Amrany)

We are hearing the No campaign is slightly ahead in the polls after last week the No’s were slightly ahead. This has given the pound a rise from, last weeks lows of 1.2394 and is pushing the 1.2550 level. Today CPI inflation for the UK came out pretty much as expected so eyes are now looking towards the bank of England minutes out tomorrow to see if any further members are voting for an interest rate hike. last month the split was 7-2 and if we see a 6-3 then the pound could well be in for further gains.

The main risk factor though for anyone with a requirement is the Scottish Referendum. The way that I see it is as follows.There is likely to be a major reaction, particularly for sterling, whichever way the vote goes. A vote for independence will highly likely result in a further appreciable sterling sell-off causing the pound to fall by as much as 10% over the coming weeks and months. A vote for Scotland to remain in the UK is likely to lead to a significant relief rally for the pound and we could see a slight gain from the current trading levels.

For those looking at selling the pound the risk to gain ratio is not worth taking the gamble on what may occur. With the polls so close at the moment the risks of losing thousands of the currency you need to buy by waiting until after the vote could be extremely costly and we have seen many clients capitalise on the current rates due to the uncertainty. It is not inconceivable that the YES campaign will be victorious and it could be the biggest surprise of our generation.

So if you need to buy or sell the pound against the Euro then please do feel free to contact myself Ben Amrany at bma@currencies.co.uk If you inform me of your requirement I will explain the options available to you in trying to minimise any risks to the market and help you achieve a better rate than the banks.

hank you for reading

Ben Amrany

bma@currencies.co.uk

 

Best rates for selling Euros for four months. (Ben Amrany)

The Euro has had a fantastic week strengthening against the pound by around 1.5% bring some relief to Euro sellers that are importing from the UK or just repatriating funds back from the proceeds of property sales. This week the Governor of the Bank of England went some way to push back interest rate expectations after they cut the forecast for wage growth in the UK.

This could lead to a further rise for the single currency against the pound but on the whole we feel it will be hard pushed for teh Euro to gain a great deal more in the term due to the economic situation of the Euro block. If you are looking at selling your Euros in the next few months we offer contracts where you can sell your Euros now to settle in the future. this gives you the peace of mind in knowing exactly what you will achieve while taking no risk with currency fluctuations.

On this site all of the authors work for one of the largest currency brokers in the UK and we help clients exchange their funds at rates up to 4% better than the banks. Plus we offer a very personal service to give you the information needed to help you decide when to do your exchange.

If you would like more information on the currency service we provide then you may email myself Ben Amrany at bma@currencies.co.uk and I will explain the options available to you. If you would like to speak with me call the number on this site and ask for Ben Amrany

Thank you for reading

Ben Amrany

bma@currencies.co.uk

GBP/EUR Rates Flat During Wednesday Trading (Matthew Vassallo)

GBP/EUR rates have remained very flat during today’s trading, staying range-bound between 1.26-25-1.2642 on the exchange. With little movement following the raft of Eurozone data released this morning, it is likely the markets are now waiting for tomorrow’s Eurozone inflation and unemployment figures, both of which can be key market movers.

There is little data of note for the UK tomorrow, so all eyes will be fixed on Friday’s PMI data to see if this can boost GBP/EUR back towards the recent two year high.

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 mtv@currencies.co.uk

GBPEUR remains favourable, busy week ahead! Will Mark Carney lower the value of sterling?

Sterling to Euro exchange rates have remained favourable of late presenting a 20 month high to buy euros. This week we have a whole host of data which anyone with an interest buying or selling euros should take note of. Exchange rate movements of 1 or 2 cents in a day are not uncommon and having systems in place to capitalise are key to maximising any currency exchange.

Thursday looks to be a possible market mover with the Bank of England Governor due to speak. Lately there has been much speculation that the BoE will look to cool the housing market. It has been said a bubble is forming in the UK property market and Mark Carney could pop it and the value of sterling in just a few sentences. You see the housing market is a key driver of Inflation and economic growth as people have more money in the pockets and spend more as their house price rises. The prospect of a UK interest rate hike this side of Christmas has helped sterling to soar lately but could the pound come unstuck later this week? Personally I would brace yourself for a rough ride and wouldn’t rule out the prospect of sterling suffering.

Friday the latest GDP (Gross Domestic Product) data is released which will is essentially old news for it covers Q1 but will still attract interest. Sterling won’t necessarily drop on Thursday but anyone buying or selling the pound should in my opinion take note of this potentially very important event. Mark Carney always seems to move the market one way or another, don’t say we didn’t warn you.

Should you wish to get some information on the latest forecast and moving money internationally at the best exchange rates please contact me directly on jmw@currencies.co.uk

GBPEUR Outlook

Despite yesterday’s GDP data for Q1 2014 coming in slightly below par the pound is benefitting from a much improved economic outlook and the prospect of being the first of the big currencies to raise interest rates in recent years.

However on the whole the pound should remain well supported. Despite little data today for the pound, tomorrow is a new month and we have a raft of UK data including Manufacturing Purchasing Manager’s Index (PMI) data.

There are challenges to sterling’s strength down the line notably the unknown effects of the Scottish Referendum and queries of a housing market bubble.

I would not rule out better spikes for the pound but this is by no means reason to be complacent. Depending on which currency pair you are trading there will be other issues to consider. Please feel free to contact me directly to learn of all your options in this current market as well as the best exchange rates, please use jmw@currencies.co.uk.