Tag Archives: Pound

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.

Pound drops lower once again as interest rate hikes suffer setback and Euro gains on the Dollar (Daniel Wright)

GBP/EUR exchange rates have dropped to the lowest point we have seen since since the U.S elections back in November, which is due to two reasons we saw yesterday.

Firstly, we had two members of the Bank of England speaking during the course of yesterday afternoon and both of those members dampened expectations of a U.K interest rate hike happening  in the near term, which led to the Pound losing further ground against the Euro and most major currencies too.

An interest rate hike is generally seen as a positive for the currency concerned as it makes it more attractive to investors, and the markets can more on speculation as well as action, so even the mere hint of a hike moving closer can lead to the Pound gaining strength, we saw this shortly after the last Bank of England interest rate decision where they confirmed 3 out of 8 members had voted in favour of interest rates going up in the U.K and this gave Sterling a boost.

The chances of a hike appear to have decreased again after yesterday which is why the Pound has lost a little value.

Secondly, due to more issues over in the States surrounding Trump and Trump JR the Dollar has lost plenty of ground against the Euro. With EUR/USD being the most traded currency pairing in the world when you see a large amount of money coming out of the Dollar and going into the Euro, the Euro can gain strength against most major currencies too, making it more expensive to buy.

Unfortunately economic data is still not dragging the Pound back up and we have unemployment figures and average earnings due out at 09:30am today. Average earnings are of great importance at present as inflation is increasing and making goods and services more expensive where as peoples earnings are actually increasing at a slower pace which is not a good sign for the economy. Should this trend continue people will have less and less money to spend and this may cause further problems for the economy as the year moves on.

We really do need to see a catalyst for the Pound to start moving in the right direction again but at present that has not materialised. The worry now is that we are starting to see the true impact of the referendum vote start to shine through now and that Sterling may be in for a tough month ahead.

If you have Euros to buy or indeed sell then it is more important than ever to make sure you maximise your exchange rate. Feel free to contact me (Daniel Wright) to discuss the various options available to you. Yo ucan email me on djw@currencies.co.uk and I will get back to you personally.

 

 

Where next for the GBPEUR exchange rate?

When looking for indications as to the future direction of GBPEUR exchange rates it can be helpful to consult the information of a currency specialist who can highlight the important trends and themes that will move the market. A 1 cent improvement selling €100,000 at current levels would result in a £800 saving! We offer assistance to clients looking to increase the value of their currency exchange by offering information on the market to help them time and execute their transfer for maximium effect.

If you are looking to buy or sell Euros for pounds then the last month has see a fairly choppy range developing in a tight band of 2 cents. Whilst we haven’t broken free of the 1.1260 to 1.1470 range, the movement within these parameters has been rather unpredictable with the market jumping back and forth according to speculation on various factors.

One key point to be noting is the prospect of a UK interest rate hike or the European Central Bank (ECB) considering to withdraw their economic stimulus. These two factors are example of two highly unpredictable factors which could see the pound rising or falling against the Euro rather suddenly.

With tremendous pressure on sterling and there appearing to be no easy way out of the current situation for the pound and the UK, GBPEUR seems like it could easily spend much of the coming weeks and months in a 1.10-1.15 range. It is very difficult to see what would lead to sterling rise dramatically but there could be surprises.

If you need to make a transfer of more than £10,000 worth buying or selling Euros then understanding the best steps forward in advance will give you the greatest chance of securing the best rate. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk or please call 01494 787 478.

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

 

 

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.