Tag Archives: Pound

Sterling Exchange Rates before UK Retail Sales Data (James Lovick)

The pound remains under pressure despite the British government winning a series of votes in the House of Commons this week after a series of amendments had been put forward in the House of Lords. Things could be become interesting for the pound next week though as the Prime Minister had to make a last minute concession to some of her rebel conservatives who seek to keep Britain with as close ties as possible to the European Union. It would appear that what was offered on Tuesday is not quite what the government is prepared to offer and concerns the issue of having a meaningful vote which would prevent the government from walking away from the negotiations without a deal.

The European Central Bank (ECB) meet later today for the next interest rate decision. Although no change is expected the important detail will be in the Quantitative Easing schedule. Clients looking to sell Euros will be interested to hear when the ECB is likely to conclude its vast Quantitative Easing scheme. ECB President Mario Draghi will be providing the markets with a running commentary this afternoon and may offer some clues as to the central bank’s thinking

UK retail sales numbers are released this morning and are likely to see a reaction. The UK economy has struggled to get back up to speed following that cold weather front dubbed the Beast from the East although a pick up this morning is probably overdue. A big number could see the pound rally and would restore some confidence in the British growth outlook.

The Bank of England meet next week for the next interest rate decision although no change is expected this time round. There is more likely to be a focus on when the next rate hike will take place which is earmarked for either August or November.

For more information on the pound or Euro exchange rates and for assistance in making any transfers then please feel free to contact me at jll@currencies.co.uk

Pound to Euro rate hits a 1-month high as Euro weakens due to Italian concerns

The Euro fell another half a percent against the Pound yesterday, after news broke over the weekend that the expected Italian coalition government is no longer looking likely to form.

There were expectations that the five star movement and League would form the coalition over the weekend, but the Italian President Sergio Mattarella cancelled talks after the coalition put forward Eurosceptic, Paolo Savona for finance minister. The markets were already weary of the unfolding’s in Italy due to the populist and Eurosceptic leanings, along with plans to cut back on debt whilst increasing government spending.

The Euro weakness is across the board of major currency pairs as opposed to just between the Pound and Euro, and this is something those hoping for a stronger Euro should be aware of.

Italian consumer confidence levels have also dropped off recently which hasn’t helped the Euros value either, and the cost of borrowing has also surged in recent weeks.

GBP/EUR is now trading roughly within a cent from its highest levels of the last year. The potential downsides for the Pound mostly surround whether a Brexit deal will be agreed in time to keep with the Brexit schedule, and also whether or not the economy justifies an interest rate hike later in the year as many are expecting.

The Pound has predominantly been driven by politics relating to Brexit for some time now, and those hoping for a stronger Pound should be aware of this.

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.

 

Has GBP/EUR already hit its 2018 high, and what factors could drive its value as the year progresses?

The Pound to Euro exchange rate is currently trading around the 1.14 mark, after seeing a slight boost yesterday off the back of some positive data.

After beginning yesterday’s trading session closer to the 1.13 mark the Pound was boosted when the Office of National Statistics (ONS) announced that UK unemployment sits at the record low of 4.2%, and that wage growth in the UK has outpaced the rate of inflation for the first time in a year.

Despite this positive data the Pound to Euro rate is still a couple of cents from its highest levels this year when the pair almost hit 1.16. The positive sentiment surrounding the Pound has since dropped off after the Bank of England voted against a rate hike at last weeks monetary policy meeting.

In order for GBP/EUR to hit a new 2018 high I think there will need to be a breakthrough regarding the final Brexit deal, as such positive news would likely push the Pound higher. I also think that if talk of a rate hike returns later in the year we could see a stronger Pound, especially if the European Central Bank (ECB) continue to hold off of raising interest rates this year.

For those following the pair, its worth noting that Morgan Stanley are predicting short term weakness in the Pounds value, before a longer term recovery as they believe the Pound is oversold and that this will continue in the short term future.

There is a lack of data out of the UK for the rest of the week, but this mornings inflation data from the Eurozone may influence exchange rates.

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

GBPEUR breaches 1.15

Its been a fantastic day for the pound and GBPEUR exchange rates have breached 1.15 and remained above the key threshold that many of my clients have been looking to trade at over the last year.

With limited data releases today it is hard to state the exact reasons to why the pound has gained so much momentum, however I believe its because speculators have purchased the pound in anticipation that the Governor of the Bank of England Mark Carney will deliver a press conference this evening and be bullish about the interest rate decision in May.

With average earnings catching inflation many speculators believe the Bank of England will hike interest rates to 0.75% and this is one of the reasons that the pound is gaining momentum alongside the transitional deal being agreed last month. The question is what next?

Personally I am surprised the pound is as high as it is, and I would be extremely tempted to purchase now at a 10 month high. The trade negotiations are set to start in the upcoming months and I expect these negotiations will put severe 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! **

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.

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.

 

 

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.

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.

EU Parliament may provide the UK with privileged single market access following Brexit

Business Insider Report suggests there will be Single Market access for Britain

A recent report has stated that EU parliament is currently compiling a detailed resolution to call for more flexibility in relationship talks with the UK. The EU would like to put forward and negotiate an association agreement which would give Britain privileged market access and EU agency membership.

I am not a 100% on the legitimacy of this report as the market moves on rumour as well as fact and investors are yet to bite or possibly it is not common knowledge. If investors had bitten I would have expected substantial Sterling strength, possibly even breaking the current 1.15 mark on GBP/EUR. If the release does take place this weekend GBP/EUR could be in a very different position on Monday.

This would be a huge change in stance for Chief EU negotiator, Michel Barnier who has put forward a proposal similar to that of Canada’s free trade agreement.

It is uncertain how this would pan out however, considering that the Conservatives wish to be free of all European laws following Brexit.

Inflation and Average Wage Growth concerns

Average Wage Growth came in yesterday and it remained anchored at 1.5%. In order to have a healthy economy inflation and wage growth should be close to parity. This is far from the case at present. Despite this there is an 80% probability of a rate hike by the Bank of England (BOE) in May.

Personally I feel this would be the wrong move considering the fragility of the UK economy at present. Be aware, there is the strong possibility that a rate hike in May is already factored into current market levels. If this is the case do not expect significant Sterling strength should the hike take place. The danger is if it does not occur, I would expect heavy falls in Sterling value if this is the outcome.

During such unpredictable times you need an experienced broker on board if you wish to maximise your return. If you have a pending currency transfer let me know the details of your trade I will endeavor to assist. There is no obligation to trade by asking for my help, I will provide a free trading strategy to suit your individual needs.

If you do wish to try our service you can trade in the knowledge we are a no risk entity, as we do not speculate. Foreign Currency Direct PLC has been in business for over 16yrs and we are registered with the FCA. If you already use a provider I can perform a comparison within minutes and I am confident I will demonstrate a considerable saving. I can be contacted at dcj@currencies.co.uk.

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.

 

Bank of England interest rate decision today – Important day for GBP/EUR exchange rates

As we progress through a fairly volatile week in the financial world, we have an interesting day ahead for those clients looking to buy or sell Sterling as we have the release of the Bank of England interest rate decision, the BOE minutes from the meeting, quarterly inflation report and the monetary policy summary, All of these are due out at midday.

These are highly important for a number of reasons, although there is very little chance of any change in interest rates today, there may be a hint as to when we may expect to see a change in the future. Reuters have suggested this morning that they feel that the Bank of England may be looking to raise rates in the near future due to better than expected growth figures, outpacing forecasts in the build up to Brexit.

Any hint of a closer rate hike than had been expected may give the Pound a lift this afternoon. An interest rate hike is generally seen as positive for a currency and a cut in interest rates is seen as negative, and even the mere speculation of interest rate movement can move the market quite considerably. As an example, bank in November when the BOE actually moved to raise rates we saw a 1.5% rise for Sterling against the Euro which would achieve €3,400 more on a £200,000 exchange into Euros.

If you have a pending exchange to make and you are in the position to move then it may be prudent to make us aware here so that we can keep you fully up to date with the action and highlight any potential opportunities that may arise.

Not only do we offer up to date market information for our readers but we can actually help you with any currency exchanges too, with top foreign exchange rates and a smooth and efficient service too. Feel free to contact me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to help you personally or to get you a live quote.

A good week for GBPEUR exchange rates

This week the pound has gained momentum against all of the major currencies and in particular the euro. GBPEUR exchange rates have been trading close to a 6 month high and many of my clients have taken advantage.

Early in the week average earning numbers exceeded expectation which was a big surprise as the Bank of England have been predicting that average earnings would continue to fall in the months to come. The problem the Bank of England have been facing is that inflation numbers have been outpacing average earnings.

Earlier today UK GDP numbers have also impressed. The consensus for the quarterly figures were 0.4% and the numbers were released at 0.5%. Furthermore the yearly numbers were set to be released at 1.4% and the number was released at 1.5%.

Central levels of exchange have finished in the 1.14s and for any client buying euros this is a window of opportunity that you may want to take advantage of. In the last 3 weeks, exchange rates have improved by 3 cents and I cant see how we are going to see any further improvements short term.

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!

 

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.

GBPEUR spikes above 1.13

Overnight key Brexit developments have been made and euro buyers have reaped the rewards with exchange rates spiking from the lower 1.11s to the lower 1.13s. Reports are suggesting that the UK has offered €50bn as a divorce settlement which equates approximately to £44bn. No agreement has been made however it appears that the EU have welcomed the figure which in my eyes is a break through in the Brexit negotiations.

In recent weeks the amount of euros the UK would pay the EU as a divorce settlement has been the sticking point. Early this year the UK were suggesting they wouldn’t pay a penny to leave the EU and the EU wanted €100bn. It just shows developments have been made.

The next question is what next? This development shows quite clearly that the UK and EU want to eventually come to an agreement and I am optimistic that this will eventually happen. However the Irish border could be the next sticking point as Northern Ireland have stated they do not want a hard border.

On the 14th and 15 of December the EU will decide whether trade negotiations can begin. If enough progression has been made I expect the pound could continue to rise against the euro.

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! **

Rate hike expectations pushing up the Pound, will this trend continue? (Joseph Wright)

The Pound has continued to climb against the Euro in the lead up to this Thursday’s interest rate decision by the Bank of England.

It will be at 12pm tomorrow when the decision will be announced and markets are expecting to see the base rate hiked by 25 basis points to 0.5%. This will be the first hike in 10 years if it goes ahead and likely to make financial headlines, although should it go ahead like many expect I think there will be quite a muted response by markets as the hike is already being priced in to the Pound’s value.

I think the risk lies in the not being a rate hike, as the Pound would be likely to fall quite dramatically due to there being many disappointed investors as well as speculators quick to try and take advantage of the fall.

For those of our readers planning an upcoming currency exchange involving the Pound, and hoping the expected rate hike will make the Pound gain more value I would be weary as due to the expectations of it happening I personally think it’s unlikely there will be much market reaction.

If you wish to be updated should there be any major movement do feel free to register your interest with me, as working on a trading floor allows us to react instantly to market movements.

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 to fluctuate 5% in the upcoming months (Dayle Littlejohn)

Brexit negotiations seem to be heating up as both parties have promised to accelerate negotiations therefore I am expecting major volatility with GBPEUR exchange rates. 

Rewind the clock to the end of July, many of the leading banks were predicting by the end of the year parity for GBPEUR exchange rates, however UK interest rates gave the pound a boost which has led to Banks re thinking their forecasts.

At the moment GBPEUR exchange rates appears to be fluctuating in the lower teens and I expect by Christmas or potentially in the early new year for GBPEUR exchange rates to be either in the 1.06-1.07 or 1.17-1.8 range and the factor that is going to drive the pound higher or lower will be the Brexit negotiations.

A no deal puts the UK under more uncertainty and therefore I expect the pound to plummet, where as an agreement in regards to EU citizen rights and the divorce settlement bill will lead to trade negotiations and therefore a stronger pound.

The problem we have is we are unaware how the upcoming negotiations will go. For clients that are selling pounds to buy euros or euros to buy pounds, the question you have to ask yourself is what do you think will happen between the UK and EU. If you are unsure and not prepared to take the gamble, as some people are saying it’s like playing roulette, feel free to get in touch to discuss how we can save you money on your transfer.

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 GBPEUR continue to slide?

The pound to Euro rate has been slipping since Monday when we challenged the 1.13 but were ultimately unsuccessful as investors looked to the uncertainty surrounding a UK interest rate hike. The next direction on rates is all going to come down to, in the main, the prospect of a UK interest rate hike and then a Eurozone QE taper. I personally see GBPEUR losing more ground and retesting the 1.10 level in the coming weeks and months.

QE is Quantitative Easing and it is effectively pumping money into an economy through the purchase of assets and bonds by a central bank. The European Central Bank is currently engaging in €60 bn worth per month and investors believe they will scale this back. What this means is that the Euro will on such news, ore than likely strengthen.

Overall expectations are for the Euro to rise in value longer term but just lately the worries over Spanish independence and also the Austrian and German elections have seen the Euro weaker. Longer term I feel the strength in the Eurozone economy will see it through, I see more chance of the ECB acting to reduce their QE than the UK and the Bank of England raising interest rates.

If you are looking to buy or sell pounds against Euros the next two weeks are critical and will likely lead to swings and opportunities that might not be around for long. The best strategy I believe is to look at the market with our expert assistance to try and determine the most opportune moments to capitalise.

Sometimes exchange rates spike for just a few seconds and it is only through being prepared that we can help you. We are here to help you maximise any transfer, for more information on getting the best rates of exchange plus expert service and assistance, please email me Jonathan Watson on jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you and helping you maximise your exchange.

 

Will the pound continue to slide against the Euro?

Overall the pound looks like it could easily slip in the coming weeks as the uncertainty over Brexit looks like it could build further and this will undoubtedly present some opportunities for those clients looking to buy or sell. Exactly what happens in the future is very difficult to predict but hopefully this will create some movements for awaiting a firm reason to make their deal.

Expectations for the pound to slide are therefore very strong and we could easily see some big changes in the future, principally as a result of the key economic decisions by the Bank of England and also the European Central Bank decision. Overall markets are generally fearful over what lies ahead in the decisions by these two central bank beasts, big questions over to what extent the ECB will taper and to what extent the Bank of England will raise interest rates loom.

It would not be surprising to see the pound slip further against the Euro as political uncertainty for the UK outweighs the Eurozone. Yes, the problems in Spain and even Germany are reasons to fearful, over the future direction on the Euro. However the UK is as a result of the Brexit in a worse position. This is the current situation, it could of course change very quickly!

If you have a transfer to make buying or selling Euros for pounds this next couple of weeks will be vital to determining which way exchange rates could go in the future. Overall I would not be surprised to see the pound losing value as investors concerns resurface, a more positive ECB would also see the Euro stronger.

If you have a transfer to make in the future then keeping in touch with us and the latest trends and news is key. For more information at no cost or obligation please speak to me Jonathan Watson, by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you.

Quiet end to the week for UK data releases, what could cause the GBP/EUR rate to move this week? (Joseph Wright)

Those hoping for better Pound to Euro exchange rates have taken a knock this morning after the much publicised Catalonian independence situation has cooled for the meantime.

Yesterday evening the Catalan President, Carles Puigdemont and other regional leaders signed a declaration of independence, but interestingly chose to suspend the move allowing some time to negotiate with Spain.

The situation had been under the microscope in recent weeks and was seen as a potential downside to the Euros value as political instability is often a reason for currency weakness, and I expect the cooling of this situation for now at least to take some pressure off of the Euro.

The Euro is up this morning against all major currency pairs, and at the time of writing the Euro to Pound rate is trading at its day highs.

There is little economic data out for the rest of this week that involves the UK economy directly, so I expect to see the GBP/EUR driven by sentiment or Eurozone specific data releases. The ECB president, Mario Draghi will be speaking tomorrow at 3.30pm so I expect markets to be glued to his comments as is normally the case when he speaks.

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 the Pound recover against the Euro? (Tom Holian)

The Pound is now at is lowest rate to buy the Euro since November and the problems for the Pound do not appear to be reducing anytime soon. The fears of the Brexit affecting the economy are appearing to be realised which is resulting in the Pound falling against the single currency.

The negotiations have been going on for a few weeks now and so far little progression has been made. There has been no decision as to whether the UK will opt for a softer or a hard Brexit and until this is resolved I think the Pound will remain under huge pressure for a long time to come.

The first estimate of UK GDP for the second quarter was published on Wednesday and although it came out as expected with 1.7% year on year this did little to support Sterling. Indeed, the Pound vs the Euro fell to its lowest level at the end of the week since last autumn.

Next week the Eurozone releases inflation on Monday morning as well as the latest set of unemployment data. If both announcements come out positively then I think we could see further losses for GBPEUR rates to come going into August.

EURUSD exchange rates are now trading at their highest rate since the start of 2015 and it is becoming clearer that not only is the Pound weak against the single currency but the Euro is also very strong against a lot of other currencies at the moment.

If you have a 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 (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.