Tag Archives: GBP/EUR

Will GBPEUR exchange rates rise or fall by the end of the week?

With GBPEUR exchange reaches back above 1.14, it seems like a good time for euro buyer to take advantage as I expect the pound could come under pressure on Thursday when the Bank of England announce their latest interest rate decision.

The chances of a rate hike have dropped to 20% from 80% according to Lloyds and the reason for the fall is that UK economic data released last month disappointed. Retail sales, inflation and GDP all dropped significantly and recent Brexit developments are also putting pressure on the Bank of England’s decision.

Governor of the Bank of England Mark Carney has stated over the last 18 months that Brexit developments will influence monetary policy, and with the House of Lords on a weekly basis heavily criticizing the Government, UK Prime Minister Theresa May appears to be stuck between a rock and a hard place. It was only this afternoon the House of Lords stated the UK should remain part of the single market.

My personal opinion is that the Bank of England will keep interest rates on hold and the Governor Mark Carney will continue with his stance that a hike is likely to occur this year, however he will not confirm when and this will cause the pound to lose further value.

To finish the week all eyes will turn to the ECB and President Mario Draghi’s speech. Every time the President speaks, investors are watching closely for guidance in regards to the QE program. Time is running out for the President as he will want to give the markets as much time to adjust and the plan was to cut the QE program by the end of the year. This story has the potential to have a major influence of GBPEUR exchange rates moving forward.

For further information in regards to GBPEUR currency transfers 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! **

 

 

 

GBP/EUR stuck at pivotal point of 1.15 – Will rates break above or head back down?

Sterling is currently sat around the 1.15 mark against the Euro and appears to be fairly range bound as we head towards the end of the trading week. Yesterday saw the most volatility for the pairing that we have seen this week following the European Central Bank interest rate decision and press conference, this led to a little Euro weakness and Sterling moving back up through 1.15.

This rise was short lived however, as profit taking knocked the pound back below 1.15 and now we appear to be sat at a pivotal point for where GBP/EUR exchange rates will head next. This morning we have growth figures released for the U.K and this will be the first set of GDP (Gross Domestic Product) figures for quarter 1 of 2018.

Expectations aren’t great for this data set due to the extremely poor weather that we had in the U.K in the early part of the year. Cold snaps and lots of snow ground the U.K to a halt on more than one occasion which can only dent economic productivity.

The release is due out at 09:30am this morning so if you have a Euro exchange to carry out in the coming weeks then this will be key for you. This release will also impact on the Bank of England’s next interest rate decision on May 10th. members of the MPC are currently watching every U.K data release extremely closely and the chance of an interest rate hike is currently in the balance, if they go ahead and do it we may see Sterling strength, if they hold off then the Pound may weaken.

Should you be in the position that you need to carry out an exchange in the coming days, weeks or months ahead then it is well worth getting in touch with me personally as I can help you with your transfer. We do not only offer the highest levels of exchange but also an extremely efficient level of customer service too. Feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to speak to you personally.

GDP to influence exchange rates this week

The recent positive run for GBPEUR exchange rates came to an end last week, when UK inflation feel sharply and Governor of the Bank of England Mark Carney couldn’t confirm the prospects of an interest rate hike in May. Sterling fell from the 1.16s to the 1.14s causing concern for euro buyers. Any further commentary from the Bank of England over the next couple of weeks before the decision will have the potential to cause further fluctuations.

Other UK economic data in the form of Retail sales was another reason why the Governor failed to state a hike is just around the corner. UK GDP numbers are set to be released this week and the predictions are for a slight fall as the adverse weather conditions continue to cause a problem for the UK. If GDP falls I expect that an interest rate hike may not occur which could be a problem for euro buyers but good news for Euro sellers.

In other news the house of commons is set to meet this week to discuss the customs union. The House of lords voted in favour of remaining within the customers union, however Theresa May has made it clear that the  UK is leaving. If this story continues to escalate again this could put pressure on the pound.

For further information in regards to GBPEUR currency transfers 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 rate breach 1.16 this month, and what’s causing the Pound to gain in value?

Sterling has performed well once again today, gaining by almost half a percent against the Euro and almost hitting 1.16 at its highest point.

Sentiment surrounding the UK economy and the Pound’s value moving forward has been improving recently, as the economy and a number of important stumbling blocks have been passed. Hopes of an interest rate hike from the Bank of England next month have jumped to the extent that the hike is almost set in stone. The BoE has hinted on numerous occasions that the rate hike is on the cards so I actually think that the interest rate hike has already been priced in so I’m not expecting to see a jump in the rate if it actually takes place. The risk is perhaps more to the downside as if there is no hike I think the Pound will fall.

The Brexit transitional agreement has already been agreed which is another reason for the stronger Pound. Moving forward there is the issue surrounding the Northern Irish border and I think this may pose a threat to a stronger Pound as the year goes on.

This week there will be the release of wage growth for the UK. This is a key area as wage growth had lagged inflation but now it’s expected to overtake the inflation level and therefore firm up the BoE’s interest rate plans. If you would like to discuss this economic data release in more detail 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.

 

European economic data a little worse than expectations but still reasonably strong

European data released over the past few days has mainly missed analysts expectations, however we have seen the Euro remain fairly stable as the figures were still reasonably good.

Poor weather across Europe can be blamed as one of the main issues in March and I feel that because the snow was just so bad in places this slight miss has been overlooked by most investors and speculators.

We have very little out in terms of economic data today from  the Eurozone but what may be the main market mover for Euro exchange rates today would more than likely be non-farm payroll data over inn the U.S which can impact all major currencies.

EUR/USD is the most traded currency pairing in the world so any larger news from the U.S can impact Euro exchange rates too, positive news from the States can weaken the Euro and negative news can strengthen it.

At the stage of writing this the Pound is the worst performing major currency of the week, although it hasn’t made major losses it still has dropped off a little, economic data for the U.K has not been great but again I would personally focus the main reasons for that on the weather we witnessed in the U.K in March.

If you have a requirement to move Pounds into Euros in the coming weeks and you would like our assistance with your currency exchange then it is well worth getting in contact with me directly. You can email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to get in touch with you personally to discuss the various options available to you, including our rate alerts, top exchange rates and the very highest levels of customer service too.

Will GBPEUR hit 1.20 this year?

The pound has risen against the Euro and we are now much closer to hitting the 1.20 level than we had been in recent months and really since the Brexit vote. Whilst the rate has been higher than where we are currently, it has been in the 1.19’s at times last February and just after the vote in 2016, the current conditions point towards improvements ahead.

This is down to the progress that is being made on Brexit plus the prospect of the Bank of England raising interest rates. This is being evidenced from the recent twists and turns on the Irish border which are expected to be completed by the end of June. The Irish Prime Minister has stated he wants this finalised by then which should trigger GBP strength once it happens.

Further hints of a deal being reached on a trade basis with the EU would also see the pound much higher in the coming weeks and months. This might take until the autumn but is a real possibility to trigger GBPEUR towards 1.20. The Bank of England might also be looking to raise interest rates or raise their forecast of raising interest rates, this would also be supportive for the pound.

Is 1.20 a guarantee?

Well no, of course not. Nothing is guaranteed on exchange rates! If however, the above conditions are satisfied then it is very possible but this will rely on the Euro not being too strong. The ECB meeting later this month could see a stronger Euro if the ECB are more positive about hiking their rates and withdrawing monetary policy in the future. Any hurdles on Brexit would also hinder the pricing too.

If you need to buy Euros with pounds the outlook is now much more positive but nothing should be taken for granted on exchange rates. For more information on how to track the best rates and assistance with strategies to help maximise your currency exchange, please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

 

GBP/EUR vulnerable to month and quarter end flows in next two days

Sterling has remained fairly range bound over the week so far, with very little in terms of economic data of note due out as we head towards the end of the calendar month and indeed the end of the quarter.

We do have some growth (GDP) figures for the U.K tomorrow which will show how the economy has performed recently but unless they are drastically different from analysts expectations then I personally do not expect to see this data causing too much in the way of market volatility.

What will be key and what may cause market volatility for this pairing is something known as month and quarter end flows. This is essentially where large institutions and funds net off their positions for the month, leading to large money movements and the market shifting without any prior warning.

There are also fairly substantial payments made from the EU to the U.K at this time of the month and quarter which can also lead to exactly the same scenario, giving anyone that needs to either buy Euros with Pounds or to sell Euros and buy Pounds a tricky situation where they need to have one eye on the market at all times, as it moves by the second.

If you are in the position that you have a transaction such as this to make and you would like our assistance, then we can watch the markets for you and make you aware of any spikes in your favour or adverse movements against you.

Should you wish to take advantage of our services, not only keeping you fully up to date but also ensuring you get the best rate when you convert your currency then it would be prudent to get in touch with me (Daniel Wright) directly and I will be more than happy to help you. You can email me on djw@currencies.co.uk and I will be more than happy to contact you personally.

Sterling Euro close to the best rate this year – What will tomorrow bring?

GBP/EUR exchange rates are now close to the best levels we have seen so far in 2017.

This is due to a number of positive economic and political data releases so far this week and we still have more to come too.

On Monday we had news that the EU and U.K had potentially come up with an agreement on a transition period which was seen as positive by the markets.

Yesterday we had inflation data out for the U.K and this morning we had news that unemployment figures had improved slightly, with most notably average earnings increasing to a level that is now back above inflation.

The reason this is key is that inflation has been above average earnings for a long time now, and that means that the price of goods and services is going up at a faster rate than peoples earnings, meaning the general consumer has less money in their pocket.

Tomorrow we see the start of the latest EU summit and brexit will no doubt be on the agenda so be wary of sharp Sterling movements at any point in the next 24 hours.

On top of this we have the latest Bank of England interest rate decision due out at midday. It would be a surprise to see a change in interest rates this time around, although after all of the positive news I wouldn’t totally rule it out, and the monetary policy statement shortly after should give us an indication on future plans, which would more than likely be confirming that they will be looking at a rate hike in May should nothing happen tomorrow.

If you have an exchange to carry out involving Pounds into Euros, or Euros into Pounds then I can help you achieve not only the best rates of exchange for this but I can help you with the timing of your transfer too.

Feel free  to contact me (Daniel Wright) by email for a free quote and discussion about your transaction on djw@currencies.co.uk and I will be happy to contact you personally.

 

 

EU summit to have major influence on GBPEUR exchange rates

Yesterday GBPEUR exchange rates spiked close to 1.13 off the back of the Spring budget update. Chancellor of the Exchequer Philip Hammond, as expected, announced that the Office for Budget Responsibility (OBR) have increased growth forecasts for the next 12 months up to 1.5%. Interestingly the OBR actually only cut the growth forecast from 1.5% to 1.4% at the Autumn budget, which shows the UK economy has performed well over the last 6 months.

For people that are converting pounds into euros or euros into pounds, over the last 3 months exchange rates have been range bound by roughly 3 cents. On a daily basis we are receiving positive and negative news from the UK and EU. For example, Brexit updates are varied, European growth is fantastic however there is a concern due to the Italian election result, so it just shows why GBPEUR exchange rates are up and down like a yoyo.

As a currency trader, it is my responsibility to keep my clients informed about market movement. For most people that are converting GBPEUR, they will be working throughout the day and do not have the time to watch exchange rates and that’s where I come in. If you want help in regards to timings and also to receive fantastic exchange rates feel free to email me directly drl@currencies.co.uk.

Looking ahead the EU summit next week has the potential to have a major influence on GBPEUR exchange rate. The UK had planned to have had the transitional deal sorted before the summit therefore we should expect a few announcements surrounding the transition over the next 7 days. Furthermore, exchange rates will fluctuate next week and it all depends on what is actually said. I’m optimistic that the EU will allow the UK to start discussing trade early next month and therefore I wouldn’t be surprised to see GBPEUR reach the higher end of the 3 cent range we have been experiencing over the last 3 months.

GBP/EUR exchange rates still range bound – Data tomorrow to impact Euro exchange rates

So far this week we have still seen GBP/EUR exchange rates remain in the same range of 1.12 – 1.13 with no major threat of breaking out.

Tomorrow we have a number of releases that do have the potential to change that, all from the Eurozone.

European Central Bank president Mario Draghi is due to speak tomorrow morning at 08:00am and ECB member Praet is due to follow up with a speech at 08:45am. Any comments from either member that hint towards any fuiscal changes in the coming days, weeks or month could lead to volatility for Euro exchange rates.

Later in the morning we have industrial production figures, employment change and the ECB vice president Vitor Constancio and any one of these three have the potential to move the markets, industrial production figures are due to have come down a little which may weaken the Euro, employment change is also expected to have fallen too so we may see a little weakness for the Euro in the morning should these expectations be correct.

Towards the end of the trading week on Friday we have Consumer Price Index or CPI figures due out from the Eurozone and this might lead to a volatile finish to the week for Euro exchange rates in what looks on paper like a reasonably quiet week for economic data releases, key speeches and Brexit based news.

If you are generally busy a lot of the time and you do not have time to watch the market then a proactive and reliable broker should be able to do this for you, if you would like me to do exactly that then you are more than welcome to get in touch with me directly. Having worked in currency exchange for over a decade not only do I understand the importance of keeping clients up to date with market movements, but also how much difference timing a transaction correctly can make.

If you would like my assistance, feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be happy to get in touch with you directly.

Sterling makes minor gains against the Euro as the week nears an end

GBP/EUR exchange rates have slightly risen as the week nears an end, following on from one of the least volatile weeks for Sterling exchange rates that we have seen in over two years, with GBP/EUR in particular being range bound between 1.1150 and 1.1270.

The end of week spike appears to have been caused by news following the ECB (European Central Bank) interest rate decision which came out yesterday.

Markets had expected a decision on signalling the end of QE (Quantitative Easing) in the April meeting, but it appear that now will be pushed back to June or July according to reports on Reuters.

QE is generally seen as a negative for a currency, so any news that may signal the tapering or end of the QE program from the ECB would more than likely be seen as a positive for the currency, and any lengthening of the program or delays in the tapering of it can lead to Euro weakness, as we have seen this afternoon.

The start of next week is reasonably quiet in terms of economic data for both the U.K and the Eurozone but that does not mean that the rates will not move, with on-going Brexit talks absolutely anything can happen at any time with this particular currency pairing, and if you are in the position where you may need to carry out a large exchange between the two currencies then you need to be prepared to move should an opportunity arise.

If you are generally busy a lot of the time and you do not have time to watch the market then a proactive and reliable broker should be able to do this for you, if you would like me to do exactly that then you are more than welcome to get in touch with me directly. Having worked in currency exchange for over a decade not only do I understand the importance of keeping clients up to date with market movements, but also how much difference timing a transaction correctly can make.

If you would like my assistance, feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be happy to get in touch with you directly.

GBP/EUR has an up and down day – What does the week ahead hold?

Sterling started the day off on the front foot against most majors, getting up to almost 1.14 against the Euro only to drop away again over the course of the afternoon.

With a positive vibe around current Brexit talks and the chances of an interest rate hike in May for the U.K increasing, there are many reasons why investors would have an interest in Sterling once again.

Although Sterling has gained ground this year against most major currencies, it has struggled to make much ground up on the Euro, and comments from head of the European Central Bank earlier today suggested that Sterling will not make a huge impact on the Euro in the near term, not due to poor economic data from the Eurozone anyway.

Draghi mentioned that he felt growth in the area at present was stronger than he had anticipated, that he expects labour market conditions to continue to improve and that the relationship between inflation and growth had remained intact.

All in all this is fairly positive news for the Eurozone and this led to a little Euro strength, bringing GBP/EUR exchange rates back down below 1.1350 at the time of writing this post.

The most notable day of economic data this week will be on Friday, where we have Prime Minister Theresa May due to speak and address Britain on the current Brexit approach and situation. Investors and speculators will be hanging off of every work that is spoken throughout this for any hints on current plans or notable progression with talks.

This may lead to a volatile day for Sterling against the Euro so if you have an exchange to make in the near future be sure to keep a keen eye on the markets over the course of Friday.

If you are looking to buy any Euros with Sterling or should you need to bring a large sum of Euros back into Sterling then it is well worth getting in touch with me directly.

I can help you both in terms of timing your transfer, keeping you up to date with any spikes in the market and of course getting you the best rate when you come to book the deal out.

For a free, no obligation discussion on how I can help you with this important decision please feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be happy to get in touch with you personally to see how I can help.

GBP/EUR up as the week closes – Sterling gets a small lift

GBP/EUR exchange rates ended the week on a high as news throughout the week suggested that talks both within Britain and outside of it appear to be going well and progressing reasonably.

Any positive news on Brexit can give Sterling a lift, even if nothing has actually happened just yet the mere speculation of good news does appear to help the Pound.

Unemployment figures earlier in the week had led to a little Sterling weakness but the Pound fought back as the week  neared an end. Governor of the Bank of England Mark Carney remained fairly hawkish (or Positive) in his tone when discussing the U.K economy and the chance of interest rate hikes for the U.K in the coming months.

It is now expected that there may be an interest rate hike in the U.K as early as May, and should speculation of this continue then I would expect to see the Pound continue to rise in the coming weeks.

As mentioned above however Brexit news does still create the possibility of a slip should there be any negative release so this really is a market that you need to keep[ a very close eye on at all times.

If you are looking to buy any foreign currency with Sterling or should you need to bring a large sum of foreign currency back into Sterling then it is well worth getting in touch with me directly.

I can help you both in terms of timing your transfer, keeping you up to date with any spikes in the market and of course getting you the best rate when you come to book the deal out.

For a free, no obligation discussion on how I can help you with this important decision please feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be happy to get in touch with you personally to see how I can help.

Will the release of the Brexit plan result in a stronger Pound? (Joseph Wright)

The negotiations between the UK and EU regarding the Brexit have been heating up recently, and we’re shortly expected to know what the UK’s stance is.

Just yesterday UK Prime Minister, Theresa May held emergency talks with senior cabinet members behind closed doors. The talks took place at her country residence, Chequers and one MP told the press that she ‘played a blinder’. Within the next month we’re expected to know what the Brexit plans are so I think although the markets are quite calm at the moment, we could see a lot of movement for the Pound to Euro rate in the next month.

Next week Theresa May will also be giving a speech again outlining her stance on Brexit talks so far and plans moving forward.

Although economic data is once again having an effect on the Pounds value I think that politics is likely to be the main driver of GBP exchange rates in the current climate, which makes it harder to judge where the Pound will move next and when.

If you would like to be notified in the event of a major spike for the Pound in either direction, do feel free to register your interest with me as working on a trading floor allows us to react in the wake of a major move.

Later today there will be the release of EU Inflation data which could move the markets depending on how the figure comes out.

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

Will today’s speech give GBP/EUR direction? (Joseph Wright)

The Pound to Euro exchange rate has been hovering around the 1.13 mark over the past 24 hours, but a key speech in Austria this morning could offer the pair some direction moving forward.

At 9.30am this morning David Davis, the Brexit Secretary will give a speech on Brexit where he is expected to say ‘Britain won’t turn into a Mad Max-style dystopia’. He’s also expected to say that Britain won’t abandon workers’ rights and environmental concerns after Brexit.

In the build up to this the Pound has softened against some major currency pairs but it’s holding its ground against the Euro so far, leading me to believe that some bullish comments from David Davis are likely to result in GBP/EUR breaching 1.13.

Aside from this morning I think the next month could be busy for GBP exchange rates as within the next month we’re likely to know the UK’s stance on the Brexit transitional deal. Also the Chancellor of the Exchequer, Philip Hammond will announce the latest Spring statement so there are plenty of events that could potentially move the markets.

If you would like to be kept updated in the event of a major market move for GBP/EUR, do feel free to register your interest with me.

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

Sterling Euro exchange rates have a fairly flat week – Retail Sales to finish off the week for U.K data this morning

The week so far has been fairly flat for GBP/EUR exchange rates, seen minimal movement from the high to the low point over the course of the trading week.

We have virtually been stuck in a range of 1.12 – 1.13 with very little volatility due to no major news from either side for investors and speculators to feed off of.

Retail Sales figures are due out this morning for the U.K and this may be a release that could change the flat trend, but this data would need to be fairly off the mark from analysts expectations to have a large impact.

Theresa May is due to be meeting with Angela Merkel today so be wary of any further comments towards brexit and future plans between the two nations, as anything positive may also give the pound a lift as the week comes to an end.

Next week we have U.K unemployment figures on Wednesday morning, with average earnings figures being one of the big points in focus, as this figure could bring forward when the Bank Of England plan to next raise interest rates. Average earnings had been quite a way from inflation figures which is one thing that had held the BOE back from rushing into another hike, however at last weeks interest rate meeting they did comment that another rate hike could be coming.

If average earnings figures have gone up again then expect Sterling strength, as this may lead to betting that a rate hike in May is on the cards for the U.K which would be seen as positive for Sterling exchange rates.

If you need to exchange Pounds into Euros or indeed do the reverse then it would be well worth you getting in touch with me directly, you can contact me by email on djw@currencies.co.uk – You can also see my profile on our company website here:  http://www.currencies.co.uk/about-us/team/daniel-wright/  With over ten years of experience in this sector I can not only secure you the very best rates of exchange but also can give you the very highest level of customer service too.

 

Brexit talks dictate GBP/EUR levels (Daniel Johnson)

Davis and Barnier loggerheads

We have seen GBP/EUR fall following poor economic data releases from the UK and also negative comments from Michel Barnier in regards to Brexit negotiations. We have seen since Stelring rally back to 1.13 in this afternoons trading.

GBP/EUR will be largely dictated by the progress of phase two Brexit talks. David Davis, the UK chief negotiator and EU chief negotiator, Michel Barnier are at loggerheads. Davis has accused EU services of advising UK businesses to leave the UK or risk losing their contracts. This does not sit well with the UK negotiation team considering the UK is still a member of the EU. Barnier could be accused of playing hard ball in an attempt to warn off other members of the EU following in the UK’s foot steps and exiting the bloc.

Despite the uncertainty surrounding Brexit talks I am not of the opinion we will see huge falls in Sterlng value. The market moves on rumour aswell as fact and the level of uncertainty surrounding Brexit at present makes me think it does not have much room for further falls. I would be surpised to see GBP/EUR fall below 1.11 short term. If you a Euro seller I would not be hanging on for small gains.

If you are buying Euros short to medium term I would not have high expectations. The highest GBP/EUR has been in nine months is 1.15 and it has only been available for very small windows of opportunity. Considering the current situation, if the market hits above 1.14 I would consider performing my trade.

If you have a currency requirement I would be happy to assist. If you wish to maximise your return it is important to be in touch with an experienced broker. If you let me know the details of your trade I will endeavour to produce a trading strategy to suit your needs. If you have a currency provider in place I am willing to perform a live comparison and I am confident I will be able to demonstrate a considerable saving. It will only take a couple of minuites and could be well worth your while.
You can trade in safety knowing your trading with Foreign Currency Direct PLC, a company trading for over 16 years. Our accounts are published online at companies house and we are FCA registered.
If you would like my help I can be contacted at dcj@currencies.co.uk. I look forward to hearing from you.

 

Sterling Euro rates stuck in limbo (Tom Holian)

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

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

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

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

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

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

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

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

 

Sterling Euro exchange rates get close to a 9 month high – Draghi knocks it back

Yesterday saw GBP/EUR exchange rates get close to the highest levels we have seen in almost 9 months, following a positive vibe around  U.K economic performance of late and comments from Angela Merkel that she would like to see a close relationship with the U.K post Brexit.

As the day progressed those highs quickly vanished, as we heard from head of the European Central Bank Mario Draghi during the ECB interest rate decision and press conference.

Draghi did not make any sweeping changes to fiscal policy but he did make a few comments including the fact that he felt that current economic data within the Eurozone points towards solid economic growth and that he also is not targeting the value of the Euro.

Comments earlier in the week from other members of the ECB had suggested that they feel that the Euro is too strong and that this is impacted European exports, which led to belief that Mario Draghi may seek to do something to tackle this, this speculation had weakened the Euro a little and the fact it didn’t happen then allowed it to fight back.

The Euro gained almost a cent against the Pound during the press conference and also managed to hit the best rate against the Dollar  in 17 months.

Personally I would not be surprised to see the Euro be fairly solid throughout the course of today following on from yesterday, however should this strength against the Dollar continue they will have to consider doing something, which is turn may weaken the Euro against the Pound.

If you have a Euro exchange to make in the coming days, weeks or months ahead then  it may be prudent to get in touch with me directly, Not only will you find that you save money on your rate of exchange but also you will find that our level of customer service if extremely high too.

You can email me (Daniel Wright) directly on djw@currencies.co.uk with an overview as to what you are looking to do and I will be more than happy to get in touch and discuss your situation personally.

What can we expect in 2018 on GBPEUR exchange rates?

2018 is looking like another volatile year with plenty of fresh news and developments in a number of areas which could see changes and shifts in the GBPEUR exchange rate. Notably, Brexit will continue to be a key driver for the pound which will see the rates inextricably linked to shifts in sentiment over the Brexit. The Euro has a number of key hurdles to overcome, mainly political like the UK.

If you are considering buying Euros you would be forgiven for checking the headlines over Angela Merkel and the Spanish situation and expecting the Euro to be much weaker. The outlook for the Euro is however still very positive despite the fear and uncertainty surrounding the political situation. Yes, the outlook for the Euro has deteriorated slightly but the prospects for the Euro still remain rather positive.

All in all, the uncertainty surrounding Brexit will I feel be more of a drag on GBPEUR than the political uncertainty in the Eurozone. We should see the market shift according to the run of events which could see the Euro weaker in March when we have the Italian election. Further negative developments on the Spanish or German situation could weigh on the Euro but as mentioned I do feel the weakness of the pound will remain more in focus once again in 2018.

If you are buying or selling Euros for pounds the exchange rate is at an important junction as we have more reasons to be positive over Brexit which has helped the pound, but a number of challenges remain ahead. If you wish to get an overview of the position or discuss further a forecast relating specifically to your position, please feel free to contact me Jonny to discuss further your currency situation.

To learn more about the year ahead on GBPEUR exchange rates and discuss options and strategy please contact me on jmw@currencies.co.uk.