Tag Archives: sterling euro exchange rates

What can we expect for GBPEUR rates from the Bank of England interest rate decision?

The pound to Euro exchange rate is trading in familiar ranges in a volatile manner as the market is trying to second guess what we can expect next from the Bank of England. The interest rate decision is at 12 noon today and we also have the latest Quarterly Inflation Report from Mark Carney and his team too. The pound has been very susceptible to changes in UK rate expectations and today is a day of reckoning.

The rates could rise to the previous highs today of 1.16 but this seems unlikely given the current expectation that the pound would actually lose value because of the Bank of England being now less likely to raise interest rates. Over the next few weeks, we are likley to see lots of volatility as the markets try to second guess just what the Bank of England are looking to do longer-term.

The outlook for sterling is undoubtedly more positive than the expectations previously set by the Bank of England but we are unlikely to actually see any actual hike today, I think it is more likely to be longer-term in the future when we will see a hike. GBPEUR will, therefore, be more than likely to rise higher in the future as we get more news regarding just what the final expectations are for the pound.

GBPEUR will more than likely trade within a range of 1.13-1.15 in my opinion. If you have a transfer buying or selling the pound against the Euro then I would be looking to make plans ahead of the event to ensure I can capitalise on the volatility.

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.

Will the GBP/EUR rate breach 1.16 this month, and what’s causing the Pound to gain in value?

Sterling has performed well once again today, gaining by almost half a percent against the Euro and almost hitting 1.16 at its highest point.

Sentiment surrounding the UK economy and the Pound’s value moving forward has been improving recently, as the economy and a number of important stumbling blocks have been passed. Hopes of an interest rate hike from the Bank of England next month have jumped to the extent that the hike is almost set in stone. The BoE has hinted on numerous occasions that the rate hike is on the cards so I actually think that the interest rate hike has already been priced in so I’m not expecting to see a jump in the rate if it actually takes place. The risk is perhaps more to the downside as if there is no hike I think the Pound will fall.

The Brexit transitional agreement has already been agreed which is another reason for the stronger Pound. Moving forward there is the issue surrounding the Northern Irish border and I think this may pose a threat to a stronger Pound as the year goes on.

This week there will be the release of wage growth for the UK. This is a key area as wage growth had lagged inflation but now it’s expected to overtake the inflation level and therefore firm up the BoE’s interest rate plans. If you would like to discuss this economic data release in more detail do feel free to get in touch.

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.

 

Pound Euro rates hit 2 week high after Eurozone inflation data (Tom Holian)

The Pound has as of this afternoon hit the best rate to buy Euros all month following the release of lower than expected Eurozone inflation data published early this morning.

Inflation fell to 1.1% year on year compared to the expected 1.2% and this has caused the Euro to weaken against both the Pound and the US Dollar. Inflation has been a very hot topic for central banks recently and the European Central Bank in particular.

Earlier this month the ECB suggested that it would be looking to possibly bring their current QE Programme to an end towards the end of this year so this morning’s fall in inflation may mean that they will continue to pump money into the market and this is why the Euro has fallen to a 2 week low vs the Pound.

As we go into next week there are a number of key announcements that could affect Sterling Euro exchange rates. UK inflation is the first important release with the latest Consumer Price Index for February released on Tuesday morning.

Expectations are for 2.9% which is still above the target of 2% so another high release will put pressure on the Bank of England to increase interest rates in the near future.

Indeed, the latest odds are 75% in favour of an interest rate hike coming in May. Therefore, I think we could see the Pound rising early next week. This will be closely followed by UK unemployment data on Wednesday and the latest Bank of England interest rate decision on Thursday.

We end next week with the EU summit and as this will cover the Brexit topic I think we could see a huge amount of volatility on GBPEUR exchange rates.

Therefore, if you’re considering making a currency transfer in the near future then feel free to contact me directly for a free quote 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.

Email me directly Tom Holian teh@currencies.co.uk

 

 

 

 

 

Where next for GBPEUR exchange rates?

The pound has risen against the Euro presenting some excellent fresh opportunities to buy Euros with pounds. We are not quite at the top of the market but are only a couple of cents from the highs of 1.15 seen earlier this month. This is the best level we have had since May 2017 during the UK election. The overall position for Euro buyers might improve further but these levels should not be taken too much for granted at this time in my opinion.

Friday is Theresa May’s speech on Brexit and this could be a big mover for the pound against the Euro, clients looking to buy and sell Euros will of course be aware of the importance of the Brexit which is driving sterling exchange rates. The next big news will be the Italian election on Sunday which could see the Euro weaker, there are lots of worrying scenarios we can paint from the Italian election on Sunday but ultimately I don’t think the Euro will find itself in too much trouble.

With so many different parties the likelihood is a coalition government which struggles to make any real policies stick and ensures that Italian politics stays loosely in its current framework, the chance of it going down a more populist and right-wing route is a possibility but I feel ultimately, unlikely.

If you need a transfer buying or selling the pound against the Euro then making some plans around these key events is vital to maximising any deal and exchange rate you receive. For more information at no cost or obligation then please feel free to contact myself Jonathan Watson by emailing jmw@currencies.co.uk.

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

Will the Pound improve against the Euro this month? (Tom Holian)

The Pound vs the Euro had a relatively slow start to the year but has this week showed some very positive gains against the single currency. Indeed, GBPEUR exchange rates are now close to their best levels in 9 months.

Outlook for the UK appears to be a little more positive recently with the tone surrounding the Brexit a little more positive.

The International Monetary Fund has also upgraded the global growth forecast and this has led to the Pound making gains across the board.

Some analysts have also suggested that an increase in global growth will dwarf the negative impact caused by Brexit which is another reason for the Pound’s recent good run of form.

UK Public Sector Borrowing figures for last month came out a lot lower than expected which has also led to the Pound making improvements against all major currencies including vs the Euro.

Later on this morning we could see even further volatility for Sterling Euro exchange rates with the release of the latest set of UK unemployment data due to be released at 930am.

Unemployment rates are close to their best levels in 40 years but the concern for the British economy is Average Earnings which are lagging behind inflation at the moment.

With UK GDP figures due to be released on Friday we could see further volatility on Pound vs Euro rates so make sure you keep a close eye out for the release of Friday morning if you’re considering making a currency transfer.

If you have a need to make a currency transfer in the near future then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

 

Will rates on GBPEUR can we expect in December?

The pound has risen higher against the Euro nudging back over 1.12 this morning as the Euro softens slightly, partly on the back of concerns over the Irish political situation. Sterling is bouncing back against most currencies too on the back of the news that all banks had passed the stress tests as well. What events are upcoming in December and how will they influence the GBPEUR?

The main event for sterling I believe is the EU summit on the 14th – 15th December where the EU will decide whether or not the UK can now progress to the next stages for the trade talks to begin. Whilst the expectation is that this will all pass off relatively easily as the UK is now pledging more money to the situation, the potential for this to upset sterling remains high. Historically ‘deadlines’ with the UK and the EU see eleventh hour talks and excessive volatility.

The 21st December sees a big development on GBPEUR with the Catalonian election taking place which is effectively a referendum on independence or self rule. The possibility of this setting off fresh Euro fears is now increased, particularly when you consider there is also increased worry over Ireland, Germany and also Italy for next year.

GBPEUR has occupied a range of 1.08-1.14 in the last 3 months, with the worst fears over Brexit removed for now (eg a ‘no deal’ scenario), the potential for GBPEUR to now occupy a range between 1.10-1.15 seems more likely.

If you have a transfer to make buying or selling Euros and pounds and wish for the best rates and some of the latest news and market insight, please don’t hesitate to speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

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

GBP EUR Gains after EU Response to a Future Trade Deal

Sterling Euro exchange rates have seen a very eventful week with the fifth round of Brexit negotiations coming to an end yesterday. The pound had fallen sharply against the Euro immediately after the press conference given by Brexit secretary David Davis and his counterpart Michel Barnier highlighted that progress was still slow and there was a deadlock in the negotiations. Sterling fell by over 0.5% after it was clear that there was still insufficient progress before seeing a substantial rally in afternoon trade reversing all losses.

GBP EUR Outlook Improves Overnight!

It has been reported that the EU will begin preparing for post Brexit trade negotiations with the possibility of trade talks to commence in December and refers to the next phase to start as soon as possible. This has led to a major jump higher for the pound across all of the major currencies including the Euro. GBP EUR is climbing this morning and any developments from the EU are likely to create additional volatility for GBP EUR. The response today from EU leaders will be crucial to where rates go from here.

My view has been for some time that when that door for a future trade deal has been opened there could be some excellent gains for GBP EUR. Those clients looking to buy Euros could finally start seeing some better opportunities to purchase just around the corner.
Clients looking to buy Euros would be wise to get in touch to look at the options available to you and how to maximise on the rates of exchange as they become available. Clients looking to sell Euros should consider moving sooner rather than later as this has been a fairly major development.

If you would like further information on sterling 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 hits a 10-week high, but will the Pound manage to hold on to its recent gains? (Joseph Wright)

The Pound has risen quite dramatically against the Euro in recent weeks, with the pair hitting 1.14 both yesterday as well as this morning which is a 10-week high point for the pair.

Brexit uncertainty appears to have taken a back seat for now, which has seen GBP/EUR rise over 6 cents in recent weeks making the exchanging of Pounds into Euros a more attractive proposition.

The Pounds gains have been aided by a weakening Euro which has mostly been caused by the German election which took place over the past weekend. Although Angela Merkel’s Christian Democratic Union (CDU) party won for a forth consecutive term as expected, the talking point of the election is the rise of the far-right Alternative for Germany (AfD) party as they were the third best performing party.

This has softened the Euro and with the unofficial Catalan election in Spain also just around the corner and threatening to cause tensions in the region I think there’s a chance we could see the Pound continue to climb.

On Friday there will be the release of UK GDP data which could provide the Pound with a boost if the figure released is better than expected. The release comes out at 9.30am and the expectation is for 1.7% year on year and 0.3% for the 2nd quarter of this year.

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.

GBP EUR Breaks over 1.10

The pound has found a small degree of support which may be set to continue now that the “great Repeal Bill” has passed through parliament and found its way through the first hurdle. GBP EUR rates have now broken over 1.10 which is welcome news for those clients looking to buy Euros who were recently caught out when levels recently fell below 1.08 in the last two weeks.

The Great Repeal Bill which brings European law into British law to avoid any legal cliff edge scenarios is a major factor for the Brexit process. It’s not over yet though and it is widely believed that the Labour party will try and vote down the bill at second reading.

As such sterling Euro exchange rates are likely to be particularly volatile for the next month with no guarantees the government will ultimately get the bill through. Clients looking to sell Euros continue to see excellent treading prices but the tide may have now turned with the recent rise in sterling.

The Bank of England meet this Thursday and any change in policy could see a big market reaction for the pound. Only two members on the Monetary Policy Committee voted for a rate hike at the last meeting but should anyone else join Ian MaCafferty and Dave Ramsden then the pound could see welcome strength.

Those clients looking for a real opportunity with the potential for a sizeable increase in rates should pay attention to the expected speech from Theresa Mya later this month. For more information on how this speech could impact the rates then please get in touch and I will be happy to give you my thoughts.

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

Sterling Euro Exchange Rate Forecast (Tom Holian)

Sterling saw a small increase in value against the Euro towards  the end of the week after the UK manufacturing data came out better than expected.

The results were relatively strong owing to the low value of Sterling which has increased orders from the continent.

However, in my mind I think the gains for the Pound vs the Euro will be relatively short term as the UK’s Trade Deficit figures did not show any signs of improvement.

Confidence in the UK and Sterling is very low at the moment caused by the uncertainty of what is happening with the Brexit discussions. We are almost 6 months into the talks and as yet we do not appear to have any clear picture of what is happening.

There has been suggestions of between EUR60bn-EUR100bn for the UK’s ‘Divorce Bill’ to start the process to leave but nothing has yet been decided.

Turning the focus towards economic data we have the release of UK inflation data on Tuesday followed by UK unemployment on Wednesday.

Both sets of data could cause volatility and I think we could even see GBPEUR rates hit 1.10 for a brief period of time by Wednesday.

However, I think the gains will be short term as investors will continue to be concerned by the topic of Brexit and I think this will continue to cause problems for Sterling Euro exchange rates

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.

 

Sterling flat despite positive words from a key Bank of England figure (Joseph Wright)

Sterling has failed to see a boost to it’s value this morning despite a member of the Bank of England suggesting that its time for an interest rate hike in the UK.

The member is Michael Saunders and his comments won’t of come as a surprise to many after his votes to raise the rate in the last two voting meetings. The current Pound to Euro exchange rate is sitting at 1.0850 after hitting a new 8-year low earlier this week due to Brexit uncertainties.

There have been a number of predictions for the Pound to Euro rate to hit parity within the next year and at the moment we’re not far from this level as Brexit fears continue to weigh on sentiment surrounding the UK economy. The fears mostly surround how the UK is yet to agree on the final Brexit bill and also the European Commission becoming frustrated with a lack of clarity from the UK regarding it’s plans.

A little later this morning there will be the release of Eurozone Inflation levels for August which could potential move the markets, those following the GBP/EUR rate should keep an eye on releases like this and we can help keep our clients updated if they wish.

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.

Pound to Euro rate in focus as it’s trading at an 8-year low, will the sell-off continue? (Joseph Wright)

Sterling is continuing to come under pressure this morning after breaching the 1.09 mark during yesterday’s trading session.

The breach of 1.09 has continued this morning as the pair are now trading at their lowest levels since 2009, with 1.0868 the lowest level the pair have hit so far.

This comes at a time where risk appetite worldwide is on the decline after US President Donald Trump’s threat to end the NAFTA agreement and shut down the US government if he doesn’t receive funding for the wall he plans on building along the boarder of Mexico.

There have also been a number of forecasts from major financial institutions recently suggesting the Pound could fall as low as 1 for 1 with the Euro, with HSBC, Morgan Stanley and Citi all making this same prediction for the pair in 2018.

Should these predictions comes true then it may be worth looking into the current exchange rates if you’re planning a large GBP to EUR transfer as there is still some distance to go should they be correct.

Tomorrow at 9.30am there will be the release of UK GDP data for the month of July, and there could be movement between GBP/EUR if this figure is released some distance from its expectation.

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 fall lower than 1.10 over the next few days? (Tom Holian)

The Pound has remained under pressure against the Euro recently as the negative effects of Brexit appear to be gathering pace.

We are now ten years on from the credit crunch and over 10 years since the Bank of England last raised interest rates in the UK.

Trade Balance figures in the UK yesterday showed a big deficit for June and this is highlighting that the lack of investment and spending by businesses in light of the uncertainty caused by Brexit.

Manufacturing and industrial production data showed a rise but the overwhelming factor is that of Brexit which is causing problems for Sterling Euro exchange rates.

Credit ratings agency Moody’s has recently cut its outlook for consumer debt and has warned that high inflation combined with a falling in wages could cause a large exposure to the debt.

Next week on Tuesday UK inflation data is due out and I think if we see a figure lower than last month’s 2.6% then this could see GBPEUR rates fall below the support level of 1.10 going into the middle of next week.

Therefore, if you’re in the process of buying Euros then it may be worth looking at buying a forward contract which allows you to secure an exchange rate for a future date with a small deposit.

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.

GBP EUR Before Queens Speech on Wednesday (James Lovick)

Sterling Euro exchange rates have come under renewed pressure today after comments this morning from the Bank of England governor Mark Carney. He suggested that he was not overly concerned by the rising level of inflation and that interest rates would remain low for some time. This resulted in an immediate fall in the price of sterling as those expectations of when the first interest rate hike for year are put back once again.

The pound has fallen by 0.75% against the Euro today with rates for GBP EUR having reached a low of 1.1345 this afternoon which has created an excellent opportunity for those clients looking to sell Euros. For anyone selling Euros the combination of all the recent political uncertainty and the start of the Brexit negotiations has resulted in a weaker pound.

Another speech tomorrow morning from another Monetary Policy Committee member Andy Haldane could see additional volatility for the pound. EU Purchasing Managers Index data for the manufacturing and services sectors could help boost the Euro further.

Queens Speech – Impact on Sterling

The Queens speech on Wednesday has the potential to see some political fireworks with the pound reacting according. Any attempt by Jeremy Corbyn to vote down the Queens speech could see the pound react badly with sterling weakness to be expected. However my view is that once an agreement has been made between the Democratic Unionist Party (DUP) and the Conservative party then this should be seen as welcome news for the British economy and the pound should rally on the back of the news.

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

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 rise or fall tomorrow against the Euro? (Dayle Littlejohn)

Since the UK public voted out of the European Union the financial investors have been unsure whether UK would actually leave or if another referendum would take place. After a High Court ruling, a Supreme Court ruling and some other stumbling blocks UK Prime Minister Theresa May is set to trigger Article 50 tomorrow morning.

For euro sellers buying pounds this could be the spike in the market that you have waited for as I believe exchange rates will drop 1-2% in your favour. We are expecting a busy day on the market and I will have to use my time wisely however if you are looking to transfer your euros into sterling and want to achieve the best rates tomorrow feel free to email me directly with your contact details. I will give you a call first thing tomorrow morning to run through the process and a strategy to maximise your returns drl@currencies.co.uk.

For euro buyers, I hope you have purchased when the market increased to the higher teens, however if you haven’t again you can email me and I will call you first thing to secure your currency before the Prime Minister makes the announcement or another strategy would be to sit back and ride it out as the French election towards the end of April could provide opportunity. Anti EU Marine Le Pen has gained momentum in the last 3 months ans is neck and neck with pro EU Macron. If Le Pen managed to get into power we could see another country holding a referendum in regards to EU membership

With all of the articles I write, I normally state that I will respond via email however as inquiries are coming think and fast, I will only be replying to clients in the form of a call tomorrow. Therefore if you do not provide your telephone number do not expect an email until Thursday morning drl@currencies.co.uk.

Enjoy your evening and I look forward to speaking with you tomorrow morning.

 

Will GBPEUR rise or fall on Article 50?

We now finally have a date for Article 50 to be triggered and are expecting some big swings on the market as investors digest the outcome. The pound could possibly rise but I think in the end this will be a sterling negative event. Expectations over the outcome remain constrained to the likelihood that the market is viewing Brexit in a negative light. If the pound was to benefit so much from Article 50 being triggered why has it lost between 10 and 15% of its strength the vote last June?

The counter of course to this argument is that much of the weakness is priced in and we will actually see some movement higher as a relief rally. My greater concern for sterling, however, is the new set of questions we will be faced with once the Article 50 is invoked. What kind of deal will the UK get and how much is the Brexit bill will all weigh on the pound and makes anticipating the next moves tricky as the market tries to digest just what is happening and how it feels.

Overall I do believe the pound is likely to struggle and any Euro weakness we see as a result of the French election will ultimately be neutralised by a weaker pound in this period. We are gearing up for a very volatile period and with the 29th March now set as a date for the triggering of Article 50, all eyes will be on the pound and what may happen.

If you have a transfer to consider involving buying or selling the pound it is well worth making some plans in advance to navigate the uncertainty. We are here to help with proactive assistance to help you achieve your desired higher exchange rate. For more information at no cost or obligation please speak to me Jonathan by emailing jmw@currencies.co.uk.

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

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.

GBP EUR Gains after Stronger Manufacturing Outlook (James Lovick)

Happy New Year! 2017 looks firmly set to be the year of politics both in the UK and Eurozone with the European elections this year. It will inevitably mean another rollercoaster for sterling Euro exchange rates.

The pound received a good boost as we started the New Year with UK Purchasing Managers Index (PMI)numbers for the manufacturing sector. PMI for December climbed to 56.1, the highest reading since June 2014 whilst touching a 2 ½ year high blowing away those Brexit blues and seeing some renewed confidence in the price of the pound.

Anyone with a Euro currency requirement either buying or selling Euros must be aware of the Supreme Court ruling which is expected in the next week or two. The outcome which could go either way as it will be decided by the judges will create new direction for the pound and the implications should not be underestimated. Even if Theresa May loses the appeal then l wouldn’t expect major sterling strength as Brexit is still destined to happen. It could also open up the prospect of a UK general election which would in my view be very damaging for the pound. If Theresa May wins the appeal then the pound is likely to fall quickly and lose most of the gains it has made over these last two months.

Those clients looking to buy Euros may be wise to consider taking advantage of the improved rates seen over the last couple of months as there is a huge amount of uncertainty for the pound as we now fast approach March when Article 50 is invoked which will give notice of Britain’s intent to leave the European Union.

If you would like further information on the pound or the Euro 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