Tag Archives: sell Euros

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! **

GBP EUR Climbing as Government Deal is Expected Imminently (James Lovick)

GBP EUR has seen a small recovery as the expectation of a deal between the Conservative Party and Democratic Unionist Party (DUP) is expected imminently. This move should bring some confidence to the markets and already some of this positive news is beginning to be priced into the exchange rate.

The Queens speech could create a huge amount of additional volatility as Jeremy Corbyn is expected to make an amendment to it and may try to vote it down which could see additional volatility for the pound. However it is most likely that a deal will be done keeping Theresa May in place as Prime Minister.

UK inflation data yesterday which arrived at 2.9% also helped lift the pound as the prospect of an interest rate increase in the not too distant future is becoming a reality. The Bank of England meet tomorrow and there could be a swing in the votes with another member calling for a hike at this meeting. Whilst no change is expected the minutes of the meeting are likely to give clues as to where future policy is heading and there could be a big market reaction to it.

The Spanish banking sector has come back under the spotlight after Banco Popular had a run on it by its savers which forced a rescue by Santander. Clients looking to sell Euros and bring them back to Blighty away from Spain would be wise to consider taking advantage of the excellent trading levels which are currently available. The pound could see healthy gains after a new government is formally announced and may present win opportunity for those clients that need to buy Euros.

If you would like further information on Euro exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

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

 

What next for GBPEUR?

GBPEUR exchange rates could now enter a very important period as we get closer to the French elections and investors take stock of the latest news on sterling. All in all, it appears to be a much more important time on the markets with investors keenly awaiting the latest news on Brexit and the French elections. I personally can see the GBPEUR rate rising on the improved sentiments over the pound whilst the Euro might weaken as we get closer to the French elections.

GBPEUR is actually 4 cents higher today than the lower levels of 2017 which is in itself a great bit of news. The prospect rates might even improve further is even better news! If you have a transfer t make in the coming weeks then understanding the market and all of your options well in advance is vital to making the most of this volatile time.

GBPEUR still has some doom merchants predicting it will drop to parity later in the year, that would not be very good news for any clients looking to buy Euros in the coming weeks. Tomorrow is the latest UK Unemployment data before we head into the long Easter weekend. Friday is Good Friday and Monday Easter Monday so there will be four days of decreased activity and thinner volumes. This can sometimes lead to some unexpected spikes so if you are making a GBPEUR transaction in the next couple of weeks understanding what is happening in advance is a smart move.

GBPEUR rates might rise but there is also a degree of risk, clearly, the Brexit is a risk factor in the days and months ahead. If you have a transfer and wish to get some expert opinion and insight on the markets then please feel free to get in touch with me Jonathan by emailing jmw@currencies.co.uk

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.

GBP EUR Crashes After Scottish Nationalist Party Seeks Another Referendum on Independence (James Lovick)

After an excellent day for the pound yesterday following events in the House of Commons sterling has fallen sharply this morning. The pound had been supported in anticipation that the Brexit bill would go through without amendment which would allow UK Prime Minister Theresa May to stick with her Brexit timetable and invoke Article 50 by the end of March.

However the announcement yesterday from Scottish Nationalist Party Nicola Sturgeon that she will now formally request a second referendum on independence for Scotland at this crucial time with regards Brexit has taken the shine off sterling. This week really couldn’t see more happening in terms of both the political and economic developments.
Those clients either buying or selling Euros would be wise to get in touch as the news is changing by the hour which is also having a direct bearing on the rates of exchange. There are currently some excellent trading prices becoming available for those clients needing to sell Euros.

GBP EUR has fallen below 1.14 this morning with rates down over 0.5%. Tomorrow sees the Dutch elections and depending on how well Geert Wilders far right party performs will determine the direction of the Euro going forward into these coming months. There is likely to be intense volatility following the release and if he does well or even manage to form a government then my view is that the Euro would likely weaken. The real focus from all of this is what happens in the French elections and how much support is out there for Marine Le Pen.

Thursday is also of paramount importance with the Bank of England meeting where interest rates will be discussed. With inflation rising the pound if anything is likely to see a small boost from any comments from Mark Carney although gains are likely to be limited considering interest rates are unlikely to be going up any time soon!

If you would like further information on sterling Euro exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

GBP EUR Slides from Highest Point this Year (James Lovick)

The pound continues to try and push higher against the Euro although there is clearly some resistance at these higher levels with sudden drops lower becoming the norm. Rates for GBP EUR broke through 1.19 earlier in the week although now levels are sitting just below 1.1850.

The UK received a welcome boost after UK mortgage data from the British Bankers Association (BBA) arrived stronger than expected. Mortgage approvals hit a one year highlighting that there is still activity in the sector. Across the country this is clearly the case and good news for the economy although my personal view would suggest we have now seen the top of the London market. There may be changes to be seen in the coming months and this may start to reflect in a weaker pound.

Next week should be particularly interesting as the Brexit bill will be discussed in the House of Lords again, but this time in considerably more detail. In my view things are unlikely to be held up but any sign that Brexit will be delayed could see some short term weakness in sterling exchange rates.

Meanwhile any political developments in France over the weekend are likely to have a direct impact on the price of the Euro. National Front presidential candidate Marine Le Pen has been shown to be performing better in the polls although her campaign has also been marred with scandal.

There is a chance that marine Le pen could become the next President of France and this would generally be negative for Euro exchange rates. The fact that she has outlined in her polices a return to the French Franc whilst also offering the people of France a referendum on EU membership could help see some good opportunities for those clients looking to sell Euros.

If you would like further information on sterling or Euro exchange rates and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

GBPEUR falls due to UK inflation (Dayle Littlejohn)

Speculation has been rising within the UK this year, that the Bank of England will be forced to raise interest rates towards the end of the 2017 due to rising inflation. Inflation has been on the rise due a weaker pound since the EU referendum vote and the bond purchasing program set out by the central bank.

Inflation numbers this morning continued to climb however not at the pace that speculators had anticipated and this led to a sell off off the pound earlier this morning. However the pound has recovered throughout the day. For your euro buys and sellers, if you had been in contact trading at the best points of the day would have generated you an extra cent.

Looking ahead the UK are awaiting the decision from the House of Lords to whether Theresa May can trigger Article50 and therefore start the process of leaving the European Union in March. My personal opinion is that this event will cause sterling weakness and GBPEUR exchange rates will fall therefore making euros more expensive to buy. On a positive note this could be the spike in the market that euro sellers are looking for.

If you reading this website for the first time as you need to convert GBPEUR, feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

If you are already using a brokerage and would like to a free quote email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands.

Common clients I help on a daily basis are Sole traders, MD or FD of a company, property buyers and sellers. If you are one of the three and are currently using the bank to transfer your currency you need to be made aware that you could be saving money!

GBP EUR Supported after Upbeat UK GDP (James Lovick)

Sterling exchange rates continue to hold at these recent higher levels after a solid week of good gains. Rates for GBP EUR are now sitting at 1.1750 which is presenting anyone that needs to buy Euros with some better buying opportunities. It is only 1 month to go now before Article 50 will be invoked under UK Prime Minister Theresa May’s diary for Brexit.

The Gross Domestic Product figure from the national Institute for Economic and Social Research (NIESR) arrived steady at 0.7% showing no sign of any slowdown in economic growth. There has been little market reaction to the news and it is most likely that it is the overall uncertainty of Brexit which is preventing the pound from pushing higher. The NIESR is an excellent precursor to the official GDP numbers and it is encouraging that there has not been a slide lower which should help keep the pound supported.

In the Eurozone Greece has once again started to dominate the headlines and its inability to reform and difficulty in making its debt repayments could become another problem for the Euro. The Euro really suffered in the Summer of 2015 and it was only when Greece accepted another bailout the Euro started to gain.

On the one hand Brexit is keeping the pressure on the pound but it is my view that once the negotiations get underway the pound could actually perform well against the Euro when considering both the issues of Greece and the EU elections which are just around the corner.

Clients needing to buy or sell Euros would be wise to keep a very close eye on these political developments as the exchange rates will be directly impacted. This is where we can assist in helping you time your foreign exchange transfer.

If you would like further information on sterling or Euro exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

Will Sterling go up against the Euro? (Tom Holian)

Sterling Euro exchange rates have seen a rather large uplift this week following the speech made by Prime Minister Theresa May concerning her Brexit plans.

Following the wobble for Sterling over the weekend the Pound has gained by over 3 cents vs the single currency providing some good opportunities for anyone looking to buy Euros.

The UK has made it clear that it is ready to negotiate with Europe and although it seems that the UK will be looking to leave the single market it will still try and maintain strong ties in the forms of new trade deals.

Next week the focus will turn to the Supreme Court judgement due on Tuesday and this is likely to provide further volatility between Sterling and the Euro.

It is abundantly clear that the Pound Euro exchange rate is being affected by any Brexit talks and this is likely to be ongoing and as ever this is impossible to predict. However, the good news for anyone looking to buy property in Europe is that Theresa May will look to protect the rights of Britons living abroad.

If you need to buy or sell Euros in the weeks ahead and concerned about future movements for GBPEUR rates in order to avoid the uncertainty 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 markets since 2003 for one of the UK’s leading currency brokers not only am I able to offer you bank beating exchange rates but also help you with the timing of your transfer.

If you would like further information about the process of saving money or for a free quote then contact me directly and I look forward to hearing form you.

Tom Holian 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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Rates to buy Euros with Sterling at their best level in 6 weeks (Tom Holian)

Sterling Euro exchange rates have had a very positive week with rates to buy Euros at their best level for almost 2 months.  The issue of Article 50 appears to have taken a back seat this week following the announcement that Donald Trump is the new President of the United States of America.

Previously Obama stated that the UK will likely go to the back of the queue if we voted to leave the European Union in terms of trade deals but Trump appears more positive toward the UK.

Indeed, Trump has business interests over here and also was quite vocal and supportive during the Brexit vote.

GBPEUR exchange rates have moved by 4 cents from the high to low which on a currency transfer of over €100,000 is the difference of over £3,000 which highlights the importance of using a currency broker who can keep you updated with market movements.

On Tuesday morning Eurozone GDP figures are released and any change in the expectation could cause even further volatility on the foreign exchange market.

If you are looking to buy or sell Euros and are worried about the ongoing volatility caused by the US election results but do not yet have the funds available then 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 that not only can I offer you better exchange rates when buying or selling Euros compared to using your own bank but also help you with the timing of your transfer.

If you have a currency transfer to make and would like further information or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Alternatively fill in the form below

 

Sterling Exchange Rates Before US Presidential Election (James Lovick)

Sterling exchange rates have seen very mixed movements across all of the major currencies today although it has been limited for GBP EUR. In my view the US Presidential election tomorrow is having major impact on all of the exchange rates as there is so much uncertainty as to which candidates Trump or Clinton will take office in the White House.

The pound saw a good boost against the Euro at the end of last week following the high court ruling which went against UK Prime Minister Theresa May. This spike proved very short lived though with rates down about 1 cent from the recent high of last week. The government are now taking the case to the Supreme Court and is scheduled to be heard in early December.

Considering the market volatility seen last week then this case will have major implications for the pound. Should the government win the case this time round then the pound in my view would most likely fall. Any clients who are still yet to sell Euros should be aware of this case and its implications. It is my understanding that the case could go either way which presents a real exposure for clients buying or selling pounds with big movements in either direction expected.

UK manufacturing production numbers are released tomorrow morning ahead of UK trade balance data on Wednesday. However with the US election tomorrow I would expect to see a more subdued day ahead of what could be a very volatile period on Wednesday.

Clients who are holding sterling are seeing a very volatile period at the moment which is unlikely to change any time soon. The Brexit jitters are keeping the pressure on the pound. If you would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

GBPEUR rates could be in another volatile period!

GBPEUR rates have fallen since the beginning of October which begs us the questions what can we expect next? Since the 7th October and the settling following the ‘flash crash’ which saw the pound fall to below 1.10 GBPEUR rates have traded in a tight range of 3 cents between 1.096 and 1.125. with plenty of uncertainty coming up soon clients looking to buy or sell pounds and euros should be considering all of their options ahead of any changes or breaks from these recent ranges.

This week is the beginning of a new month so we have a whole host of new fresh data to pore over and give us clues as to how the relevant economies are performing. Yesterday Inflation data in the Eurozone was shown to be rising but there is still mounting speculation that a stubborn Unemployment rate and meagre growth will lead to further stimulus from the European Central Bank (ECB) in the future. This prospect is weighing on the Euro which is why this morning we sit around 1.1150.

The next event to keep an eye on is this morning’s UK Manufacturing data which I believe could help anyone selling the pound. Manufacturing is a big staple of the UK economy at around 12% of GDP and the weak pound has seen this area of the economy perform very well. Despite sterling not reacting too well to the recent good news of higher GDP ni Q3, I believe this release could help anyone buying Euros with pounds.

Wednesday, Thursday and Friday are all filled with more data from the UK most notably the UK Interest rate decision and Quarterly Inflation Report both on Thursday. Then we have the US Interest rate decision on Wednesday evening and Unemployment data and Non-Farm Payroll numbers Friday afternoon. These two releases will be very important for US Dollar rates which will undoubtedly feed into GBP and Euro rates too.

If you ask me the market has been too quiet in the last few weeks. This week’s data really has the scope to change the picture on GBPEUR rates so if you have a transfer in the coming weeks and wish to learn more please fill in the form or contact me Jonathan Watson directly on jmw@currencies.co.uk. I work as a Chief Analyst fort he UK’s largest independent currency brokerage and would be very interested to offer some support and information to help with your currency transfer.

Economic information that will impact GBPEUR exchange rates this week (Dayle Littlejohn)

When purchasing euros with the pound or the pound with euros it’s important to understand the factors that will influence exchange rate fluctuations. Below are the key factors that will impact exchange rates this week:

Firstly and the most influential factor is the UK’s interest rate decision Thursday afternoon. Governor Mark Carney has already stated the central bank will cut rates further if the Monetary Policy Committee believe this will help the UK economy to perform. This decision is a 50-50 nevertheless I expect sterling weakness.

The US Presidential Election is 9 days away and there is a good chance investors will sell off their US dollars and buy euros to manage their exposure. If the demand for the euro rises GBPEUR should continue to fall.

Lastly the economic data releases to look out for this week are Eurozone GDP numbers Monday at 10am and the US interest rate decision Wednesday evening.

If you are buying or selling euros this year, today is the day to get in touch. Many people still believe the only way to transfer large amounts of money is through the bank and this is not the case. The company I work for enables me to give better exchange rates than high street banks which consequently means the individual saves money.

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! **

GBPEUR exchange rates for the remainder of the week (Dayle Littlejohn)

This morning at 9.30am the UK are set to release their latest Gross Domestic Product (GDP) numbers. GDP is a measure of the total goods and services produced by the UK and because of the loss in confidence in the UK due to the Brexit, the quarterly figures are set to show a decline. The prediction is a fall to 0.3% from 0.7%. If this is the case I expect GBPEUR will fall.

Friday the Eurozone are set to release a host of data releases including  Consumer Confidence, Services Sentiment, business climate and industrial confidence. The releases are set to be a mixed bag therefore expect volatility.

Since the UK voted out of the EU a general trend we have seen is for GBPEUR to fall Friday afternoons. With limited data releases on a Friday afternoon, I believe speculators are moving their assets out of the pound as they are unsure about events that could occur over the weekend when they are not studying the market.

If you are buying or selling euros this year, today is the day to get in touch. Many people still believe the only way to transfer large amounts of money is through the bank and this is not the case. The company I work for enables me to give better exchange rates than high street banks which consequently means the individual saves money.

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! **

What will happen to the GBPEUR rate next?

Today we learn of key information on the GBPEUR rate with two important speeches from Mario Draghi and Mark Carney. The outlook on GBPEUR remains fairly subdued for Euro buyers with I believe a strong prospect of further sterling weakness. The speeches today will help to provide some clarity on just what we can expect, personally I would not be expecting too much good news if I was buying Euros with pounds although there is some more data later this week which might help you if you are buying Euros with pounds.

The rate has fallen from its lofty heights of almost 1.20 6 weeks ago as investors learn of the UK’s apparent approach to the Brexit negotiations. Most commentators suggest Theresa May will be opting for more of a hard Brexit since trying to control the UK borders is incompatible with access to the single market. Just what kind of deal lies ahead we cannot tell for sure but it seems that it will not be one that is beneficial to sterling in the short term.

This Thursday is the latest UK GDP (Gross Domestic Product) data for the UK where we will earn of the latest news for the UK economy for Q3. This release is the latest release and the most up to date snapshot for the UK economy in this period. Expectations are for a slight decline in the rate of growth but hopefully no contraction. Whilst some areas of the economy struggled others performed well but overall it would appear activity will have been lower.

Despite the figures coming in lower the fact that they will still show the UK economy grew will I believe provide a temporary lift in the pound which could be supportive for anyone buying Euros with pounds. If you need to buy or sell the pound and the Euro I am your personal account manager here to help with any transfers you will need. For more information on the future direction of the rates and the planning and management of your deal please contact me Jonathan directly on jmw@currencies.co.uk

An important day for Euro exchange rates (Dayle Littlejohn)

With the ECB set to release their latest interest rate decision this afternoon and President Mario Draghi’s press conference shortly after today could dictate euro exchange rates for the weeks ahead.

With interest rates at 0% I would be surprised to see any further cuts from the European Central Bank however all eyes will turn to Mr Draghi and his future plans in regards to the Quantitative Easing program that finishes March 2017.

Quantitative Easing is where a central bank buys assets which are normally  The central bank introduces a new money supply into the economy. The theory behind quantitative easing is to stimulate the economy however the currency does lose value.

If Mr Draghi does decide to extend the Q.E program I would expect major euro weakness however in my opinion an extension is very unlikely until early next year.

Short term I expect the ECB to keep their cards close to their chests and bat off questions from reporters about any extensions. Therefore the major talking point that should continue to impact GBPEUR exchange rates should be the Brexit.

UK Prime Minister has stated a Brexit will occur in March 2017 and this has been the main reason why the pound has lost value over the last two weeks. Looking ahead I expect the pound to continue to devalue and GBPEUR exchange rates to drop off. For euro buyers this year, a trade sooner rather than later is sensible. If you do not have all of your sterling available a contract that may interest you is a forward contract, which allows you to fix exchange rates now and pay later.

For more information in regards to the currency market, forward contracts or how I can achieve you the best exchange rates, feel free to email me with your requirements, timescales, the best number to reach you on and I will give you a call to discuss your options drl@currencies.co.uk.

** 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! **

Finally some restbite for the Pound, and will it continue? (Joseph Wright)

Demand for the Pound has been in short supply recently as a number of brexit fears have resurfaced.

Since the disappointing inflation figure at the beginning of last week and then Boris Johnson subsequently suggesting that Article 50 may be invoked early next year, the Pound has been under pressure and we’ve seen it hitting levels levels very close to it’s 52 year low (1.1456) which is also it’s 3 year low.

Today has been the first day in a while where we’ve seen the Pound perform strongly, with the GBP/EUR exchange rate hitting a high of 1.1614. These gains are being put down to a number of positives for the Pound that that emerged over the past 24-48 hours.

One of the leading German banks, Deutsche Bank, is coming under increasing pressure at the moment as news of significant bad debt is surfacing. This coupled with the World Trade Organisation (WTO) announcing that they expect the UK to avoid a post-referendum recession has given the UK a real boost and today we’ve seen the Pound gain by almost a 1% vs the Euro.

Moving forward I’m expecting the Pound to come under pressure once again, and I think that those that took advantage of today’s spike have done well. Contacting our clients when there are positive spikes for the Pound is a service we provide so feel free to get in touch if you would like to take advantage of this free service.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me (Joseph Wright) directly on jxw@currencies.co.uk and I will be more than happy to contact you personally to discuss the various options we have available to you.

Best time to sell Euros to buy Pounds in almost 5 years (Tom Holian)

Sterling Euro exchange rates have once again felt the pressure caused by the uncertainty as to when Article 50 may be triggered.

The Pound vs the Euro has dropped by as much as 12% since the vote to leave the European Union and this represents the best time to sell Euros in almost 5 years.

Foreign Minister Boris Johnson has suggested that the UK could be getting ready to start the negotiations to leave the European Union and this has also caused Sterling to suffer against the single currency.

ECB president Mario Draghi said yesterday that the Eurozone has done well in light of the Brexit vote and the economy has proved ‘quite resilient’ which again has kept the Euro strong.

On Thursday of this week Eurozone consumer confidence is due to be published but arguably the most important data release of the week will be UK GDP for the second quarter as this will include the run up to the Brexit vote.

If we see the economic data revised lower on Friday then this could push Sterling rates even lower against the Euro possibly providing an even better level to sell Euros into Sterling.

If you are in the position of needing to buy Euros for a property purchase in the Europe before the end of the year then it may be worth looking at a forward contract which allows you to fix an exchange rate for a future date for a small deposit. This can eliminate the uncertainty of where GBPEUR rates may be in the next few months.

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 Having worked in the industry since 2003 I am confident that I can help you make the process simple and cost effective.