Tag Archives: Pound

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

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

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

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

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

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

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

How do I get the best GBPEUR rates for my international transfer?

The pound to Euro rate will this week generally remain at the mercy of the latest news on Brexit negotiations. So far we have heard that the Brexit Bill and the discussion of rights of EU nationals were top of the list to settle. Talks have opened amicably so far and there has been no major movement on the rates just yet. These pieces of news will be come out from time to time and should be carefully monitored for clients looking to transfer large volumes of pounds or Euros internationally looking for the best rates of exchange or optimum times to trade. For example clients looking to buy or sell overseas property or businesses making payments to foreign suppliers.

With these talks scheduled to carry on over various sessions there is plenty of potential for something unexpected to come out of the talks which could catch the headlines and trigger some volatility on GBPEUR exchange rates. The pound is looking like it could easily rise higher if there is a belief a softer Brexit will be achieved, if it looks like talks a running into difficulty we could easily see the pound drop lower.

If you have a currency exchange to make then making plans in advance is always a smart way to try and avoid the volatility on the markets. We can help with the timing, planning and execution of any currency deals you will need in the future. The general impression for the pound is that we will see some unexpected swings as we learn of firmer details of the Brexit talks but these could be sudden and unexpected.

We offer a proactive service to keep our clients up to date with the market and to help try and target a better deal. Exchange rates change very quickly creating spikes which for a a few minutes may present savings of hundreds or thousands of pounds depending on how you need to do or how big the movement is.

If you wish to learn more about the market and all of your options then please do not hesitate to contact me Jonathan directly to discuss how we can offer the kind of support that really does help lead you to a position to get the best rates. Please email me Jonathan Watson on jmw@currencies.co.uk to learn more.

Will the pound to Euro rate continue to rise?

The pound to Euro rate will continue its volatility in the coming weeks as we get closer to understanding just what type of Government the UK will have in the future. Overall expectations for the future remain unclear as we try to understand what Brexit means and what type of  government the UK will have in the future. It appears a ‘hard Brexit’ is now less likely but with 80% of voters having voted for parties who remain committed to Brexit just what will the future entail? With such uncertainty hanging over the market and the pound the GBPEUR rate does seem very much poised to languish at these lower levels, a move further down cannot be ruled out.

Today is the UK Bank of England decision which could well see some volatility on exchange rates, the general belief we would see UK interest rates rising has been fading and concerns are now rising about the problems in the UK economy form Brexit, the outcome from all of this for the pound is no longer a question. The reality is that the economic conditions in the UK are not meeting expectation and we could be well in line for further falls in the value of the pound.

If you have a transfer to make in the future the outlook on the exchange rate is not looking great for Euro buyers. Euro sellers are now looking at much improved conditions and the market could easily favour further improvements. If you have a transfer to make selling Euros for pounds then the current market should not be taken too much for granted.

For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk. I can  provide some insight and information regarding your situation and am very confident I can offer a rate which will save you money.

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

Euro on the charge, where next for GBPEUR exchange rates?

The pound to Euro rate dropped yesterday as UK Inflation data was shown to be rising at a faster pace than thought and this piles pressure on UK consumers. With consumers in the UK making up a large degree of the financial activity since Brexit, consumer behaviour is crucial to where the UK economy and sterling exchange rates ultimately heads.

The biggest factor for the Euro is at present is improved political news and also economic news. Eurozone GDP was confirmed at 0.5% yesterday and Emmanuel Macron made headway in forming a cabinet which has dispelled some of the fears relating to the Euro over the last few weeks. The economic outlook in the Eurozone is looking much more positive and with Angela Merkel’s party also faring well in the recent elections, much of the political fear and worry over the Eurozone is being neutralised.

This represents a shift as Donald Trump begins to encounter problems with not just the US economy but also politics coming under fire for leaking information to the Russians and also for firing the head of the FBI. The UK too is struggling politically, whilst Theresa May should win the election in June there is uncertainty there over just how it will effect the Brexit.

So all in all the Euro is benefiting from uncertainty elsewhere. I expect this trend to remain as we get closer to the UK election and Donald Trump continues to dance to his own tune with no tangible benefit to the US economy. GBPEUR could easily drift lower now down to 1.14 or 1.15 as we approach the UK election.

Today we have key data with the latest Unemployment figures for the UK so if you have a transfer to make please keep your eyes peeled for this morning’s data at 09.30 am. All in all if you have any currency transfers to make understanding the market and all of your options is key. For a detailed analysis of your position and how we might be able to help please contact me Jonathan Watson by emailing jmw@currencies.co.uk.

Will the Pound continue to go up against the Euro? (Tom Holian)

The Pound has made gains during April and I expect the Pound to continue to rise in the next few days against the Euro as the second round of French elections are due to take place on 7th May.

The two candidates include the controversial character Marine Le Pen who has pledged to remove France from the European Union as well as bring back the French Franc.

With the risk to the stability of France and its relationship with the European Union if Le Pen gets in this could send GBPEUR exchange rates flying in an upwards direction quickly. However, the outcome if more likely that Emmanuel Macron will win and this could cause the Euro to strengthen vs the Pound.

With the voting due to take place next week this is the reason why I expect the Pound to continue to make gains vs the single currency and we could even see GBPEUR rates hit 1.20 by this time next week if the voting gets close.

Following the French election the focus will then return back to what is happening politically in the UK with the election due to take place on June 8th. At the moment it looks likely that Theresa May will win convincingly and this is why the Pound has had a good run since the announcement of a snap election. However, as we saw last year with the Brexit vote and Trump winning it is not a certainty so we could see a volatile period for the Pound in the weeks ahead.

If you would like a free quote when buying or selling Euros or simply more information about how I can save you money compared to using your bank or another currency broker then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

What will happen to GBPEUR after Article 50 is triggered?

Once Article 50 is triggered I expect the pound to enter a new phase against the Euro although at the moment I cannot see it breaking it out of the recent ranges of 1.13-1.18 we have been trapped in. The pound and the Euro have both found support in recent weeks as solid economic data and improved political certainty aid both currencies. The US dollar has also weakened lately, the main beneficiaries being the pound and the Euro. Both GBPUSD and EURUSD have both risen 3-4 cent in the last couple of weeks ever since the US failed to increase their interest rate hike expectations.

There is a distinct lack of volatility in the market on GBPEUR at present with only 60 pips (0.6 of 1 cent) movement between the high and the low yesterday. Eager Euro buyers may well see some improvements once Article 50 is triggered but I cannot see it lasting long as there are some big questions on the horizon which I foresee as likely to contribute to a decline in the value of the pound. I cannot see how the UK can come out of these negotiations with a better deal than it has already with the EU.

Clients reading GBPEUR for spikes to buy Euros could find some relief around the time of the French elections although Marine Le Pen is not expected to win so any spikes could prove short-lived. I also feel it would be a risky strategy holding on since who knows how weak the pound will be at that time?

The UK’s relationship with the EU has been the downfall of many a Prime Minister and a politician, David Cameron the most recent example. Can Theresa May navigate this rocky road with her reputation and the Conservative party intact? History tells us that the odds are stacked against any success here.

If you have any requirements to buy or sell pounds and Euros in the coming weeks and months then tomorrow’s news and the political fallout on both sides of the Channel will be key to determining the direction on GBPEUR in the future. If you would like some proactive assistance with the timings of any transfer then please feel free to get in touch as I would be interested in speaking to you and offering some information on when may be the best time to buy your currency.

Please email jmw@currencies.co.uk to learn more.

Jonathan Watson

 

GBPEUR drops to 1 month low

The pound to euro rate has slipped to a 1 month low as sterling buckles under fresh economic uncertainty from the Brexit. Many commentators now feel the UK is likely to enter a period of slow growth which does not bode well for the future. As the economy begins to slow down this is being attributed to the weak pound as it makes overseas purchases more expensive and pushes up costs for many businesses and consumers. The weaker pound we are seeing is likely to continue in the coming weeks particularly as we get closer to the triggering of Article 50.

Article 50 could be triggered any day now and the viewpoint that the pound will strengthen is perhaps not as entrenched as first might have been believed. The overall trend on GBPEUR has been lower lately and personally, I wouldn’t be surprised to see further losses. Much of the recent Euro weakness has now been priced into the current GBPEUR offering which will I believe see the rate struggle to rise much higher.

If you have a transfer involving the pound and the euro making some plans in advance is crucial to understanding what we will expect next. The rate could just as easily slip to 1.10 as fly up to 1.20. I expect the level will find some support now we have had all the bad news in the market priced in.

If you have a transfer to make please speak to me Jonathan Watson by emailing jmw@currencies.co.uk for the latest trends and themes and some proactive assistance to meet and secure your currency.

All eyes on UK PM Theresa May’s Brexit speech later today, where to for GBP/EUR? (Joseph Wright)

Late on Friday’s trading session it was announced that the UK Prime Minister, Theresa May will be giving a speech later this morning outlining her Brexit plans.

The markets have reacted negatively to this news and many are expecting May to make a speech with a ‘Hard Brexit’ bias.

The Pound was already coming under pressure as May gave an interview with Sky News last weekend and commented that the UK cannot keep ‘bits’ of it’s EU membership. It’s comments such as these which are considered ‘Hard Brexit’ leaning and for those planning on making a currency exchange between the Pound and other currencies, any reference to a Hard Brexit from key government members is likely to have a negative impact on the Pounds value.

This morning’s speech is scheduled for for 11.45am, and during the speech May is expected to cover topics such as Brexit timescales, customs unions, immigration, potential transitional deals and EU funding arrangements.

Aside from this morning’s speech, the outcome of the Supreme Courts ruling on whether or not the government require parliamentary approval before invoking Article 50, and formally begin the Brexit process is likely to be one of the biggest movers of Sterling exchange rates. The outcome could be released any day now so it will be interesting to see how markets react. Feel free to get in touch if you wish to be kept updated.

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.

When will Sterling recover against the Euro? (Tom Holian)

The rate to buy Sterling with Euros has recently hit its best level in 3 years caused by both the Brexit as well as the uncertainty as to when Article 50 may be triggered.

The UK economy has coped fairly well since the vote to leave the European Union at the end of June and Friday’s UK GDP figures for the second quarter showed a revision upwards from 0.6% to 0.7%.

Typically this would have strengthened Sterling vs the Euro but as there is no certainty as to when Article 50 will be triggered the Pound is likely to struggle to make any serious gains.

This week we saw problems for Deutsche Bank who have been hit with a fine of US$14bn by the US Department of Justice for their part in mis-selling mortgage backed securities during the height of the financial crisis. As one of Germany’s largest banks you would have expected this to cause problems for the single currency but it did little during Friday’s trading session.

The share price ended up on Friday after the CEO sent a letter out calming things down and stating that the bank has enough liquidity to cope. Indeed, the expectation now is that a deal could be reached of US$5.4bn.

Therefore, the focus returns back to the UK and I don’t expect to see the Pound making any serious gains until we see an official announcement made by UK government as to when the negotiations will formally start to leave the European Union.

Uncertainty is what negatively effects a currency and in this case Sterling is facing big problems not just vs the Euro but against all major currencies.

The good news is that if you’re looking to sell Euros to buy Sterling then it may be worth taking advantage of this period as GBPEUR rates are cyclical and at some point we will see the Pound begin to strengthen and when it does I predict it will happen quickly.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Having worked in the industry for over 13 years I am confident that I can not only offer you competitive rates of exchange but can also help you with the timings of your transfer.

Feel free to contact me directly by emailing me or filling in the form below Tom Holian teh@currencies.co.uk

 

Sterling still slipping as post referendum data continues to be poor (Daniel Wright)

The Pound has continued to weaken against all major currencies as had been widely expected this month, as we continue to see poor economic data releases following the decision by the public to vote in favour of leaving the EU.

This decision has led to lots of investors and business’s holding back from getting involved in anything too large until they can see a clearer picture of what the plan is going forward.

We have a fairly quiet week ahead in terms of economic data still to come out for the U.K however European growth figures due out tomorrow morning may well be key to where this currency pairing may head to next.

Expectations are for the growth level to remain steady so any alterations to the expected figure of 0.3% for the quarter and 1.6% year on year may lead to some further volatility for Euro exchange rates tomorrow morning.

It is important to remember that there are still plenty of problems for the European banks, most notably in Italy at present so we still may be set for the Euro to take a tumble in the near future, however the Eurozone are very good at sweeping problems like this under the carpet so we may be weeks, months or even years away from seeing this happen.

If you have Sterling or Euros to exchange either imminently or in the future then it is well worth filling in the form below and I will personally give you a call. You can also email me (Daniel Wright) directly on djw@currencies.co.uk and I will happy to respond as soon as I can.

GBP/EUR continues it’s slump despite the release of some upbeat data, will this trend continue? (Joseph Wright)

Those with an upcoming currency requirement involving the Pound and Euro should take note of the Pounds current trend vs the US Dollar for an indication of how Sterling is performing in the current climate.

Cable is worth discussing because the Pound has fallen for 5 consecutive days vs the US Dollar which for me indicates the negativity and bearishness surrounding the Pound, and this is despite some upbeat economic news releases yesterday whereby we discovered that Total Sales increased by 1.9% in July (according to the British Retail Consortium and KPMG) and this was the best figure in 6 months.

The fact that Sterling exchange rates have been dropping since the Bank of England’s latest raft of financial stimulus packages coupled with the Interest Rate cut down to 0.25% indicates to me that the Pound is under pressure, as positive economic news releases are having little to no positive effect on Sterling’s value.

Another notable release during yesterday’s trading session was the National Institute of Economic and Social Research’s latest GDP estimate. The figure has dropped to 0.3%, down from 0.6% which was the previous figure so the indications up to this post are reduced economic activity out of the UK in it’s new post-brexit environment.

I’m expecting this negativity to continue to weigh on Sterling’s value as the year progresses, and whilst the central level is currently just below 1.17, I wouldn’t be surprised to see the Pound fall below it’s current 52 week low before the year ends.

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

GBPEUR continues to fall (Dayle Littlejohn)

Its been another poor day for the pound vs the euro as exchange rates have dropped 0.6% (1 cent). A €200,000 purchase is now £1,450 more expensive compared to when we started trading this morning.

Yearly and monthly manufacturing production numbers for June were released worse than expected, trade balance for Non EU showed a decline along with goods trade balance numbers. All in all, a bad day for UK economic data however I am not surprised. Investor confidence is low in the UK, therefore trade has slowed.

Looking ahead, other than UK export figures (the pound is cheaper to buy now), I wouldn’t be surprised to see most economic data disappoint and therefore the pound lose value against the euro.

Governor of the Bank of England Mark Carney, has eluded to future interest rate cuts for the UK, which is a worry as interest rates are now at 0.25% a record low.

As for the Eurozone, Spain and Portugal today have been waived fines for having excessive budgets. Spain’s deficit was 5.1% and Portugal’s 4.4% and countries are not supposed to go above 3%. The EU council have cited exceptional circumstance have given both countries further time to reduce their deficits. The news has had no impact on the euro.

If you have a currency exchange to make involving GBPEUR it makes sense to explore all of your options. Here at GBPEUR forecast we understand every client’s situation is different, therefore we devise a strategy that meets your needs and requirements. As for exchange rates we can beat any UK brokerage or bank and I look forward to proving this to you. The clients I deal with are high net individuals, businesses and property buyers / sellers that are trading €10,000 to the multi millions.

Feel free to email me with the reason for your transfer (transfer of wages, property purchase) and I will respond with my forecast and the process of using our company.  drl@currencies.co.uk

Sterling rates start to fall – Bank of England Interest Rate Decision.

GBPEUR rates have been climbing of late following the appointment of Theresa May as the next PM of the UK.  This has resulted in rates climbing 5 cents in three days giving anyone with euros to buy a great opportunity.

However rates are now starting to fall as the market looks forward to the Bank of England decision tomorrow. This is their first opportunity to make any change following the result of the referendum less than three weeks ago.  It is becoming increasingly likely that they will cut interest rates for the first time in over 7 years in an effort to bolster the domestic commercial property market. Many expect this to happen which is why we are seeing rates start to fall this afternoon and why many expect this to continue tomorrow.

As a result if you have euros to buy in the next few weeks moving sooner rather than later may be wise.

Longer term we also have to keep an eye out for the potential of an election being called by our new PM.  As pressure builds following the collapse in the Labour Party it seems a real threat to the strength of the Pound moving forward as this new level of uncertainty will surely have a negative impact on the currency market.

If you would like more information on this topic and how it could impact the price of your currency transfer please feel free to get in contact with myself. My name is STEVE EAKINS and you can contact me via hse@currencies.co.uk. Look forward to hearing from you and being able to assist you with your situation.

Will GBPEUR rates fall further this week? (Dayle Littlejohn)

Since the EU referendum vote the pound has fallen 15 cents against the euro therefore a €200,000 purchase has become £20,000 more expensive. Many clients are asking me ‘will this get worse’ and I believe so due to the UK interest rate decision and UK politics.

Looking ahead the Monetary Policy Committee from the Bank of England will meet this Thursday to discuss and vote on interest rates. Currently interest rates are at record lows of 0.5% however Governor of the Bank of England Mark Carney has eluded to a cut of 0.25% which means the pound would lose value and therefore GBPEUR would fall.

Personally I believe its too early for the MPC to cut interest rates therefore they will stay at 0.5% for at least another month. However the Governor holds a press conference shortly after the actual event and this is when I believe he could once again state a cut could occur in the very near future. If this does occur expect further sterling weakness.

As for the politicians they are not helping the pounds performance. At the moment we are not certain who the next UK Prime Minister will be, the Labour party are split in half and UKIP have no leader. All of this uncertainty puts pressure on the pound and thats why there’s an argument the problems are not going away therefore the pounds value could fall further.

Quite simply if I were buying the euro I would look to cut my losses and trade sooner rather than later. Where as if I had to buy pounds I would get myself in a position ready to trade and watch the markets for a period to see the next move for GBPEUR rates.

The currency company I work for enables me to achieve better rates than other brokerages and high street banks. If you are trading GBPEUR this year feel free to send me a brief description of why you need to trade and I will email you with the process to using our company and how we can save you money 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

Will the pound fall further against the Euro? (Dayle Littlejohn)

Throughout Friday’s trading period the pound continued to fall against the euro and I believe this trend will continue this week.

British politics are in disarray. The UK Prime Minister and Conservative leader David Cameron has announced he will be stepping down as Prime Minister and Labour leader Jeremy Corbyn has sacked shadow foreign secretary Hilary Benn this morning due to comments about his leadership. It seems like the EU referendum has divided the two major political parties and this will continue to weigh down on the pound in the weeks to come.

HSBC have announced this weekend when the UK leaves the EU that they could be pulling 1000 employees out of London and moving them to France. I believe we will hear more leading companies announcing similar statements and therefore this will also put further pressure on the Pound.

If you are looking to buy or sell Euros this year, the currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales.

Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on 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

The more information you provide me, the more information I can provide you. Below is a list of what I require: your name, currency pair, brief description of requirement, amount, budget, timescales, telephone number and convenient time to call.

Sterling continues to drop against the Euro as the referendum approaches (Daniel Wright)

The Pound has continues to drop against the Euro as concerns still way heavily on what the result of the EU referendum may be in the U.K.

As it stands the remain camp are still ahead with the bookmakers and you can still get odds of 5/2 for the U.K to leave. I generally trust the bookmakers more than the polls, as they tend to put their money down on this too so they have to put a lot of research in.

Although there are a few data releases out in the coming days I still feel that the potential ‘brexit’ and referendum will be key for where this currency pairing heads next.

I am still of the opinion that the U.K will remain, however I feel that the vote will be an awful lot closer than many had originally thought as the leave campaigners and people on the ground that wish to leave have a lot more enthusiasm than those wanting to stay, so the overall turnout will be extremely key.

If you are in the process of looking to buy or sell Euros in the near future then it is extremely important to have a proactive and knowledgeable broker on your side over the next few weeks. I help clients maximise their funds by letting them know when opportunities and spikes on the market arise.

You may already have a broker that gives you reasonable prices, but do not settle for second best. Feel free to get in contact with me (Daniel Wright) directly and I will add you to my list of thousands of clients that are well informed and are ready to make the most of their foreign exchange. You can email me on djw@currencies.co.uk and I will get back to you personally.

When to buy my Euros (Dayle Littlejohn)

In the last 6 weeks GBPEUR exchange rates have increased over 7 cents making a €250,000 purchase £11,000 cheaper and many of my clients are now asking is this the window of opportunity euro buyers have been waiting for?

If you are buying Euros before June 23rd I believe this spike is worth taking advantage of. I expect in the next 2-4 weeks the Pound will lose value when the out campaign make their final bid to the UK public.

At the moment polls and bookmakers are suggesting the UK will remain part of the European Union and I also agree. If this materialises I believe GBPEUR will have a sustained period in the 1.30s throughout July.

However if the UK were to leave expect the Pound to plummet!  

Thursday the UK release their latest GDP numbers. The numbers are expected to be released same as previous. However if we see an improvement I expect GBPEUR could break through 4 month high trading levels.

If you are buying or selling Euros this year, June 23rd EU referendum decision is going to have a major impact on your trade and could COST or SAVE you thousands!

For people reading this website for the first time the currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales. Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on drl@currencies.co.uk.

If you are already using a brokerage and have stumbled across this article because you are simply looking for information in regards to the currency market, I want to help you save as much money as possible compared to the brokerage you are already using. For a comparison email me with the exact figures and the currency pair and I will email you with our live buying price.

Alternatively if you would like to speak to me on the phone you can call on 01494 787 478 and ask to be put through to Dayle Littlejohn.

 

Mark Carney warns the UK could enter recession (Dayle Littlejohn)

Today Governor of the Bank of England Mark Carney has announced if the UK were to leave the European Union he believes the UK would enter recession. Mr Carney has made it clear in recent weeks the UK should remain part of the European Union therefore i’m not sure if his comments are just a tactic to win votes.

Nevertheless these comments just show its only a matter of time until both campaigning parties start to state their case to why the UK should stay or leave the European Union and the volatility will therefore weigh down on the Pound and GBPEUR rates will fall.

Two weeks ago David Cameron played his trump card in Barack Obama and rates spiked to 1.29 however they have been falling ever since and I expect this trend to continue. If you have euros to buy trading sooner rather than later may be wise, where as if you are selling Euros to buy Pounds holding on for an extra 4-6 weeks would be my strategy.

If you are looking to buy or sell Euros this year (especially before June 23rd), the currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales. Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on drl@currencies.co.uk.

The more information you provide me, the more information I can provide you. Below is a list of what I require: your name, currency pair, brief description of requirement, amount, budget, timescales, telephone number and convenient time to call.

Alternatively if you would like to discuss your requirements over the phone call me Monday morning on 01494-787478 and ask to be put through to Dayle Littlejohn.

 

Sterling Euro exchange rates – Pound starting to drop off again this morning (Daniel Wright)

Sterling had a great start to this week against the Euro however this morning it is starting drop off a little.

We have the Bank of England interest rate decision and monetary policy meeting minutes due out at midday today and all eyes will be on any hints that we may have towards future economic policies.

It is doubtful that we may see much change in appetite for interest rate movements however the really will be where we plan to head next with other plans, such as Quantitative Easing.

Inflation data is also released for Europe in a short while and this may have the potential for a volatile Euro rate in advance of the decision from the Bank of England.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk and I will be more than happy to get in touch with you personally.

Sterling woes continue against the Euro-Will GBPEUR rates fall below 1.20 this month? (Tom Holian)

Sterling Euro exchange rates have fallen by as much as 6 cents during the last 4 weeks as confidence in the Pound has really dropped recently.

The UK announced only last week that the current account deficit is the biggest since records began in 1948 with the amount as much as 7% of UK’s GDP.

This is clearly a big concern for the Pound and whilst the uncertainty of a potential Brexit continues this is weighing heavily on Sterling exchange rates.

Foreign investment is not being attracted into the UK at the moment owing to the political and economic uncertainty and with the Tata Steel problems still not resolved this is causing the Pound to fall.

Tomorrow afternoon ECB president Mario Draghi is due to take centre stage and he has been rather bullish recently so I think we could see further Euro strength to come during his speech with GBPEUR rates falling to new lows.

With UK manufacturing data due out on Friday and last month’s figures coming out extremely low then I would not be surprised to see another month where this particular data set is poor.

With less than 3 months to go before the EU referendum then the general feeling is for further falls for the Pound and many of my clients have been opting for a Forward Contract which allows you to fix an exchange rate for the future. This is particularly useful if you’re buying a property in Europe over the next few weeks and worried about the uncertain future.

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

Alternatively call me directly on 01494-787478 and ask for Tom Holian. I look forward to hearing from you.