Tag Archives: save money

Queens speech vote to influence GBPEUR exchange rates (Dayle Littlejohn)

As Theresa May failed to win the General Election by a majority the Conservative Prime Minister has been in negotiations with the Democratic  Unionist Party (DUP) and a minority Government has been formed. Members of Parliament will have the final vote on the minority Government later this afternoon.

For Jeremy Corbyn to win and effectively vote down the queens speech members of the conservative party will have to vote against Theresa May and I just cant see this happening. Therefore I expect the minority government to be officially formed by the end of the week which could lead to further sterling strength against the Euro and exchange rates to drift towards the mid teen territory.

Looking further ahead Theresa May’s position as Prime Minister will continue to be scrutinised and I wouldn’t be surprised to see the PM resign in the upcoming 6 months. This view is supported by American Financial Service City Group as they informed all of their clients that they expect Theresa May will resign in the upcoming months due to a Conservative rebellion. If she did resign the new Prime Minister could call another General Election which would weigh down on the pound further.

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! **

How far could the pound fall against the euro (Dayle Littlejohn)

Over the last 8 weeks GBPEUR exchange rates have dropped 6 1/4 cents (5.5%) making a €200,000 purchase £9,250 more expensive.  

The pound has been declining due to Theresa May not winning the UK General election by a majority which has weakened her position as Prime Minister and also her power when negotiating Brexit. This week Brexit negotiations have begun and the PM has already backed tracked and gave the upper hand to the EU by confirming the divorce settlement will have to be decided before trade negotiations begin.

The Bank of England have also been making headline news. Three members of the monetary policy committee surprised the market by voting in favour of hiking interest rates but less than a week later Governor of the Bank of England Mark Carney talked down the MPCs decision confirming the Bank of England are not in the position to raise rates.

Looking further ahead I believe the pound could fall further against the euro due to Theresa May remaining under pressure as Prime Minister and Brexit negotiations. It was only 8 months ago when GBPEUR dropped below 1.10 so the scope is there. For euro buyers purchasing sooner rather than later is the safe option. The currency company I work for has the power to undercut any bank or brokerage therefore I would recommend emailing me for a quote drl@currencies.co.uk.

For euro sellers timing is everything. On a daily basis I help clients that have sold property in Europe and are repatriating their euros. With regular market information my clients make informed decisions of when to trade. If you are selling or have sold a property abroad and would like to make the most amount of sterling possible feel free to email me with a brief description and I will respond with the process of using our brokerage drl@currencies.co.uk.

 

Brexit talks begin and the impact for Pound Euro exchange rates (Tom Holian)

The Brexit negotiations have now finally begun after the triggering of Article 50 many weeks ago. We are also almost one year on from the vote to leave the European Union which caused the Pound to plummet by almost 15 cents and as yet it is still not clear whether the UK will opt for a hard or a soft Brexit.

As yet the Conservatives have failed to reach an agreement with the DUP but to me this is just a matter of time. The importance of this arrangement could be key to the Brexit talks as the Irish border is clearly an enormous issue so it could be argued that the DUP could be integral for a softer Brexit.

It is going to take months before a clear picture as to how Brexit will pan out but in the short term I would be surprised to see this have any positive effect when it comes to Sterling vs the Euro.

My reasoning is that there are 27 member states that want to keep the European Union together compared to just the UK so for me I think the talks will be rather difficult as well as protracted which surely cannot help the Pound vs the Euro.

Therefore, if you are looking to buy Euros it may be worth organising this in the short term.

 

Having worked in the foreign exchange markets since 2003 for one of the UK’s leading currency brokers I am confident not only of being able to offer you better exchange rates compared to using your own bank but also help you with the timing of your transfer of currency.

If you would like further information or a free quote when buying or selling Euros and would like to save money then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

GBPEUR rises due to Bank of England (Dayle Littlejohn)

Earlier in the week UK inflation numbers rose to 2.9%, 0.9% above the Bank of England’s target which gave support for the pound and all eyes turned to today’s Bank of England’s interest rate decision.

Each month members of the Bank of England (8 to be precise), vote to decide whether to hike, keep on hold or cut. This afternoon 3 members voted in favour of raising interest rates which surprised the market and GBPEUR exchange rates increased over a cent and therefore made back some of the losses from the shock UK general election decision. Looking further ahead if inflation levels continue to rise over the next 2 quarters I wouldn’t be surprised to see the Bank of England act.

Its a quiet day for economic data that will have a major impact on GBPEUR exchange rates tomorrow. It has been reported that Brexit negotiations will begin Monday morning which surprises me as Theresa May has not formed a government as of yet. Could this happen tomorrow? Once the government is formed I believe this will provide further strength for the pound and GBPEUR exchange rates will start to rise towards 1.15.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other UK brokerages and high street banks.

I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company 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! **

Best rate to sell Euros to buy Pounds since November 2016 (Tom Holian)

The Pound has now dropped to its lowest level to buy Euros since November last year as the political landscape remains uncertain.

Although the Tories managed to succeed as the largest party they did not win enough votes to form a majority government and at the moment talks are continuing between the Conservatives and the DUP in an attempt to conclude the election result.

The Queen’s Speech has been delayed for a few days until things are sorted out with the initial date of June 19th having now been postponed. The speech is one written by the government and outlines its plans for how it will run parliament during its term.

All this news does not bode well for Sterling Euro exchange rates as uncertainty will often cause problems for the currency involved. Previously when the Tories were forced to form a coalition with the Lib Dems back in 2010 it took almost 3 weeks after the election result to have the Queen’s Speech.

I personally think we’ll see further problems ahead for the Pound against the single currency whilst all this uncertainty continues.

The election result may even delay the Brexit talks which were also due to start next week. Until we have some form of agreement then we will be stuck in limbo so I cannot see the Pound making gains vs the Euro in the short term until things settle down.

Having worked for one of the UK’s leading currency brokers for almost 15 years I am confident of being able to offer you better exchange rates than using your own bank when buying or selling Euros as well as offering you a number of different contract options typically unavailable from your high street bank.

For further information or for a free quote when exchanging currency then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Election news causes the Pound to wobble against the Euro (Tom Holian)

The Pound has slipped vs the Euro during Friday’s trading session as the most recent opinion poll has shown that the lead for the Tories over Labour has slipped to just 5%.

Previously the Tories were showing a huge lead over the opposition and this data release has caused a big surprise to the markets and we have seen rates to buy Euros with Pounds drop to their lowest level in months.

With the Tories previously expected to win by a huge majority this has led to the Pound weakening as any change in the voting pattern has caused concerns for investors.

Generally speaking if the existing government wins it provides another term of financial stability for UK businesses and therefore this is why the change in the poll has caused the Pound to suffer against the single currency.

Immediately after Easter when Theresa May called a snap general election this saw GBPEUR exchange rates challenge 1.20 on the Interbank level and although they didn’t reach that rate this was the highest we had seen the Pound get to vs the Euro since the end of 2016.

The Pound has also been weakening owing to rising inflation levels. Typically the Bank of England would look at increasing interest rates to combat high inflation levels but with the amount of QE having been used in recent years I cannot see any change in interest rates coming anytime soon.

Therefore, the central bank is struggling what to do next in terms of controlling inflation and this is causing problems for Sterling exchange rates vs the Euro.

With less than two weeks to go if you would like to make a currency transfer and save money compared to using your own bank then why not contact me for a free quote. I work for one of the UK’s leading currency brokers and have done since 2003 so I’m confident that a quick email could save you a lot of money.

I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Pound continues to fall against the Euro as predicted (Tom Holian)

Pound Euro exchange rates have continued to fall during today’s trading session and this has been the case for almost two weeks now.

There doesn’t appear to be a lot of confidence in Sterling at the moment and the Euro is going from strength to strength.

Not only is the Euro strong vs the Pound but it is also strong vs the US Dollar.

Typically when the Dollar weakens this results in Euro strength and this appears to be the case at the moment.

There is a lot of economic data due out for Europe tomorrow with German GDP data for the first quarter as well as manufacturing data.

As Germany is the leading economy in Europe if the economic data is strong in the morning expect GBPEUR exchange rates to fall.

Turning the focus to the UK, inflation has been one of the main culprits for Sterling’s recent demise vs the Euro. The Inflation Report Hearings are due out at 11am and if they highlight the ongoing problem then I expect to see the Pound fall even further against the single currency.

With just over a fortnight to go before the UK’s general election then we could see further volatility ahead so if you want to avoid the risk of the market moving against you then it may be worth looking at buying a forward contract which allows you to secure an exchange rate for a future date.

If you would like further information or a free quote when buying or selling Euros compared to using your own bank then contact me directly and I look forward to hearing from you.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as helping you with the timing of your trade.

Tom Holian teh@currencies.co.uk

 

Could the Pound fall further against the Euro? (Tom Holian)

Pound Euro exchange rates have had a difficult last fortnight with a loss of over 3 cents. The problem that the British economy appears to be facing at the moment is that of rising inflation.

This was confirmed in both the Quarterly Inflation Report as well as the Consumer Price Index which came out earlier this week.

Rising inflation is a problem for the UK and part of this has been caused by the strength of the US Dollar. As we import so much from overseas and GBPUSD exchange rates have fallen by approximately 15% since last year when the Brexit vote was held the cost of living is rising.

Indeed, unemployment which came out at its best level in 45 years should have in theory strengthened Sterling vs the single currency but as Average Earnings came out lower than the current rate of inflation this means that although more people are in work their spending power has been reduced.

Increasing inflation would usually be tackled by the Bank of England with an interest rate hike but the central bank has a problem in that Quantitative Easing seems to be the monetary policy used in recent years. The Bank of England voted earlier this month to keep rates on hold with only one member voting for an interest rate hike.

Therefore, I think we will see the Pound struggle against the Euro until the issue of inflation is tackled or it comes down by itself.

With less than 3 weeks to go another question that I am frequently being asked is what will happen to the value of the Pound once the general election takes place.

Usually we would see the Pound strengthen if the existing government maintains the status quo but I think this time round as it is so obvious that the Tories will win I think this has already been priced in to GBEUR exchange rates.

If you would like further information or for a free quote when buying or selling Euros then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

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.

Economic data to set the tone for Pound vs Euro exchange rates this week (Tom Holian)

The Pound has continued to drift down vs the Euro during today’s trading session as the markets are still digesting the news from the back end of last week.

However, the market has remained relatively quiet today in anticipation of another big day in terms of economic data tomorrow and Wednesday.

Although we saw the news from the latest Quarterly Inflation Report on Thursday all eyes will be on tomorrow morning’s Consumer Price Index due at 930am. The expectation is for 2.6% which is higher than the Bank of England’s target of 2% so anything different could cause some volatility for GBPEUR exchange rates.

Closely following the UK’s inflation data the Eurozone will release GDP data for the first quarter of 2017. The expectation is for growth of 1.7% year on year and with the German economy performing well in recent weeks I would not be surprised to see a positive announcement for the Eurozone and if this takes place we could see the Pound lose ground vs the Euro during tomorrow’s trading session.

On Wednesday UK unemployment data is due and although unemployment figures have been getting lower here in the UK the real problem is that of Average Earnings which have started to slow recently.

In layman’s terms this means that although there are more people in work their spending power is reduced and generally speaking this tends to weaken the currency involved.

Therefore, I think over the next two days Sterling will face a difficult period vs the Euro.

If you would like further information or for a free quote when buying or selling Euros compared to using your own bank then contact me directly and I look forward to hearing from you.

Working for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as being able to offer you different types of contracts including forward contracts which allows you to fix an exchange rate for a future date.

Email me below.

Tom Holian teh@currencies.co.uk

 

Pound drops as UK government plans to trigger Article 50 this afternoon (Joseph Wright)

Late last night Prime Minister Theresa May signed the letter triggering Article 50, and this letter will be delivered to the President of the European Council, Donald Tusk later this afternoon at 12.30pm.

This will officially start the Brexit process in which the UK has 2 years to leave the European Union, and in this time the UK will be doing its best to set up trade negotiations both in Europe and outside of it.

In the early hours of this morning the Pound dropped, which is a change to the currency’s general direction over the past week or so as we’ve seen the currency gain. Yesterday the pair hit 1.16 which was GBP/EUR’s highest level since the beginning of the month, and since this mornings drop the Pound has recovered some ground as it appears the currency is struggling for direction.

I think there could be some further swings during today’s trading session, especially this afternoon once Article 50 has been triggered and May offers a speech. Should she give anything away regarding the UK’s plans moving forward I think there could be movement in either direction for the Pound’s value.

If you would like to be kept updated regarding major news and movements within GBP exchange rates do feel free to get in touch.

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

 

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

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

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

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

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

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

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

Pound to Euro exchange rates and the House of Lords (Tom Holian)

Pound to Euro exchange rates have once again fallen owing to the news from the House of Lords that they will be challenging the Brexit bill put forward by the government.

This could delay the triggering of Article 50 and highlights the uncertainty surrounding what is happening and each time an obstacle is put in front of the government this causes the Pound to weaken vs the single currency.

The House of Lords is concerned with the rights of European citizens living and working in the UK and they would like to have a reciprocal arrangement to be agreed in Europe to protect the rights of Britons living in Europe.

The announcement from the House of Lords has come as a surprise to the markets as the expectation was for them to simply agree what the House of Commons had suggested previously.

The foreign exchange market does not react well to uncertainty and this is the reason for the Pound’s demise.

If you have been reading many of my previous articles I have been highlighting the problems being faced for Sterling exchange rates at the moment and until we get some form of clarity the Pound is likely to continue to struggle.

Longer term once the French elections become headline news I think we could see the Euro weaken against the Pound as Marine Le Pen who has already suggested that she may look to bring back the French Franc is currently one of the favourites to win.

Therefore, if you need to buy Euros in the short term it may be worth organising your transfer soon.

Having worked in the foreign exchange industry since 2003 I am not only able to offer you bank beating exchange rates but also help you with the timing of your transfer of funds.

If you would like further information or would like a free quote when buying or selling Euros then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

Will February be a positive month for the Pound? (Joseph Wright)

The Pound has begun the day positively which could be an indication of how today will unfold, as there is a busy day on the cards for Sterling exchange rates.

Many have coined today ‘Super Thursday’ due to the volume of economic updates which could create volatility between GBP exchange rates. Although no interest rate change is expected the official outcome of the Bank of England’s voting members decision will be announced at 12.00 along with an update on the BoE’s current Quantitative Easing program.

Perhaps the most price sensitive time of the day will be at 12.30 this afternoon when Mark Carney, the governor of the Bank of England will be giving a speech.

Sentiment surrounding the Pound is positive at the moment as the UK economy continues to impress. Last week GDP figures released showed that the UK is the fastest growing economy within the G7 set of countries and the inauguration of Donald Trump has also boosted sentiment surrounding the UK economy and therefore, the Pound’s value.

If you wish to be kept up to date with the Pound’s price movements and potential key news that could move the markets, feel free to get in touch.

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

Will the Pound go up against the Euro following Trump’s inauguration? (Tom Holian)

Sterling has made some very positive movements vs the single currency over the course of the last few days as Prime Minister Theresa May announced her 12 point plan for her Brexit strategy on Tuesday.

She announced that the UK would have no choice but to leave the single market if we are to leave the European Union but she carried on to say that we would look for the very best possible terms for the UK which would include renegotiating the current free trade deals with Europe.

This would also include looking at new trade deals with other countries outside of Europe and with Donald Trump now having been fully inaugurated into the White House this could be rather positive as Trump was very pro-Brexit during last year’s campaign.

Trump has also previously suggested that he would put the UK near the front of the queue when it comes to doing business so we could see the Pound make gains vs the Euro going into next week.

With the Supreme Court judgement announcement now expected to come out on Tuesday we could see further volatility for Sterling Euro exchange rates but my inkling is that we’ll see the Pound strengthen vs the Euro as it is potentially one less hurdle for Theresa May to worry about.

Going into next week I expect the markets to remain stable until the judgement due on Tuesday so it is important that you keep a close eye on what happens to GBPEUR rates if you need to make a currency transfer.

 

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

Tom Holian teh@currencies.co.uk

 

Sterling Euro rates at lowest level since November (Tom Holian)

Sterling vs the Euro exchange rates have hit their best level to sell Euros since November as the Pound continues to struggle against all major currencies.

The Brexit issue has continued to dominate the headlines with the current likelihood that the UK will opt for a hard Brexit rather than a soft Brexit.

This means if we opt for a hard Brexit then the UK will look at leaving the single market which has been one of the key reasons for the Pound’s demise vs the single currency.

The Pound has fallen against all major currencies and with GBPUSD rates close to their lowest level in history this has also started to affect the price of the value of goods in the UK.

With prices in the supermarkets expected to go up by between 5%-8% during the first 6 months of next year this is clearly going to impact inflation levels.

Typically the Bank of England would look to increase interest rates in order to combat rising inflation but with UK personal debt close to record levels seen in 2008 then it will be hard for the central bank to raise rates as quickly as they may want to in a more settled economic environment.

Prime Minister Theresa May is due to address the markets on Tuesday with a speech concerning her thoughts about how the UK will move forward but until the Supreme Court judgement is announced then I expect to see the Pound continue to struggle against the single currency.

In the next few weeks I expect Sterling to continue to fall against the Euro so if you need to send money to Europe in the short to medium term it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

Having worked in the currency markets since 2003 I am confident that not only can I offer you bank beating exchange rates but also able with my experience to help you with the timing of your transfer.

To find out more or if you’d like a free quote when buying or selling currency then feel free to contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

Will Sterling continue to fall against the Euro? (Tom Holian)

Sterling vs the Euro exchange rates have had to endure a difficult beginning to 2017 as the Pound has witnessed falls against all the other major currencies since the festive break.

Uncertainty surrounding Brexit have caused the Pound to experience losses against the single currency even though the economic data published recently has come out better than expected.

Both services and construction data for the UK were both strong but this did little to lift Sterling which highlights the problems that the Pound is facing caused by the ongoing Brexit issue.

Recently Prime Minister Theresa May has stated that if we are not able to have full control of our borders then we will look to leave the single market and this has not boded well for Sterling exchange rates.

The single market is what is driving the GBPEUR rate at the moment and until; we have some clarity I expect the Pound to continue to struggle.

In the next week or two we should have the announcement of the recent Supreme Court judgement as to whether or not the Prime Minister can trigger Article 50 or whether is needs full parliamentary approval.

Depending on the outcome this is likely to have a big effect on the foreign exchange market towards the latter part of the month.

Therefore, if you’re worried about the potential outcome and need to either buy or sell Euros then it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

Having worked in the industry since 2003 I am confident that not only can I save you money on exchange rates when buying or selling currency but I can also help you with the timing of your transfer.

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 and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

Will Sterling get stronger against the Euro after the Italian referendum? (Tom Holian)

Pound Euro exchange rates are now trading at their best level to buy Euros in 3 months after the Pound recovered against all major currencies this week.

On Thursday Brexit secretary David Davis spoke out about the single market and suggested that he may look to make payments to the EU even after we have left in order to keep rights to the single market. With the tone of a soft Brexit becoming more likely this helped the Pound to make the gains this week particularly against the Euro.

Tomorrow the Italians will hold their own referendum on constitutional reform in an attempt to organise their ailing banking sector. Prime Minister Matteo Renzi has stated that he may resign if the vote doesn’t go his way and if he does end up resigning this could throw up another bout of political uncertainty and this could weaken the Euro causing Sterling to perhaps break past 1.20 if this happens.

During this year we have seen a change in the voting patterns of the public with firstly Brexit back in June and the Trump win last month. It appears as though there is a feeling of protest to the establishment and I would not be surprised to see the vote go wrong for Renzi tomorrow. Therefore, if you’re in the process of buying Euros this could be the catalyst that sends GBPEUR rates in an upwards direction.

Next week the government will be challenging the High Court ruling on Article 50 by going to the Supreme Court and although we may not get any answers until January I’m sure the rumours will be flying out over the next few days so next week is likely to be rather volatile for Sterling vs the Euro to say the least.

Having worked in the currency markets since 2003 I am confident that with my experience I can help you with the timing of your transfer as well as save you money when buying or selling Euros compared to using your own bank.

For a free quote please email me directly with details about the volume you’re looking to convert and the timescale involved and I look forward to hearing from you.

teh@currencies.co.uk

 

 

Sterling Euro rate hits 8 week high to buy Euros (Tom Holian)

Sterling Euro exchange rates have this morning broken through 1.17 as the positive run continues for the Pound against the Euro.

UK consumer spending has now jumped to a 14 year high and owing to the change in temperatures recently UK Retail Sales have shown an increase. The economic data was much better than expected and this saw the Pound make gains against the Euro.

Since Brexit there have been a lot of negative reports and suggestions that the British economy will really struggle but since the vote to leave the European Union back in June generally speaking UK economic data has been relatively positive.

The Pound has also been making gains owing to the uncertainty in global markets since the US election. The Euro vs the USD rate is close to its lowest level in over 10 years and this is causing the Euro to weaken against Sterling which is good news if you’re looking to send funds to Europe.

It appears as though since the start of October Sterling is making slow but steady gains against the Euro but there is still the uncertainty of what is happening politically in the UK concerning the issue of Article 50.

Theresa May is currently in Germany to meet with Angela Merkel and the German Premier has recently softened her tone towards the UK and the single market issue which is why Sterling has made gains vs the single currency.

ECB president Mario Draghi is currently discussing monetary policy and has stated that the current recovery depends on continuous monetary support therefore implying that the ECB may look to continue to intervene going into next year.

Having worked in the currency markets since 2003 I am confident not only of being able to offer you bank beating exchange rates when buying or selling Euros but also help you with the timing of your trade.

If you have a currency transfer and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

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Sterling continues to fall against the Euro owing to Bank of England comments (Tom Holian)

Bank of England governor Mark Carney has spoken out this morning claiming that inflation is likely to rise owing to the fall in the value of the Pound.

We have already experienced ‘Marmite-Gate’ with Unilever and Tesco unable to agree who would front the cost of the rise in ingredients but this has now been resolved.

However, this issue could occur across the entire retail and food industry if Sterling vs the US Dollar remains as low as current levels. The rate to buy US Dollars with Sterling is now at the lowest level in 3 decades and until the Pound gains strength we could see the UK economy struggle.

Mark Carney has also suggested that it wasn’t the Bank of England’s job to concentrate on the value of Sterling but that ‘we are not indifferent to it, it matters to the conduct of monetary policy.’

Therefore, clearly the central bank is not too fussed by the drop in the value of Sterling and are targeting the ongoing problem of inflation. With the Bank of England due to meet next month we could even see an interest rate cut and this could cause Sterling to fall even further against the Euro.

Indeed, since the rumours started as to when Article 50 will be triggered we have seen Sterling drop by over 9 cents against the Euro which is the difference of £6,750 on a currency transfer of €100,000.

If you’re in the process of buying a property in Europe before the end of the year it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.

Having worked in the foreign exchange industry since 2003 I am confident of not only offering you a better exchange rate when it comes to buying or selling Euros compared to using your own bank but to also help with the timing of your transfer.

If you have a currency transfer to make and want to save money on exchange rates then contact me for further information or for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

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