Tag Archives: Sterling exchange rates

What will happen on GBPEUR for the rest of January?

The pound to Euro rate has been trading in a very tight range for the last few weeks with a high to low variation of 1.12-1.1360. This is presenting a good time of consolidation for clients looking to buy and sell Euros to make plans surrounding better times to look at any currency exchanges. What is definite is that the rate will not stay like this forever and sooner or later we will see a change.

Key events will focus on the European Central Bank (ECB) meeting next Thursday 25th January. Investors will be closely monitoring any changes we might see in the economic policy of the ECB which might see a shift on the Euro. Overall expectations for the Euro centre around the reduction in their QE program and possibly the prospect of raising interest rates.

The Bank of England will meet in February, general impressions are that the pound will continue to rise if they do raise interest rates but this might not be until much later in the year. The UK has now falling inflation which would actually see the pound falling as it removes the pressure on interest rate hikes.

GBPEUR has been trading in a range of 1.10-1.145 since October so the prospect of any major deviation from this is limited. I would personally be expecting GBPEUR to remain this kind of range for the end of January. Most prospects for the future focus on the outlook on the pound to Euro rates remaining at these more favourable levels for Euros buyers.

If you have a transfer to consider in the future then making plans in advance is key to maximising the position. For more information at no cost or obligation on the best strategies to maximise your position please contact me Jonathan Watson by emailing jmw@currencies.co.uk.

What can we expect in 2018 on GBPEUR exchange rates?

2018 is looking like another volatile year with plenty of fresh news and developments in a number of areas which could see changes and shifts in the GBPEUR exchange rate. Notably, Brexit will continue to be a key driver for the pound which will see the rates inextricably linked to shifts in sentiment over the Brexit. The Euro has a number of key hurdles to overcome, mainly political like the UK.

If you are considering buying Euros you would be forgiven for checking the headlines over Angela Merkel and the Spanish situation and expecting the Euro to be much weaker. The outlook for the Euro is however still very positive despite the fear and uncertainty surrounding the political situation. Yes, the outlook for the Euro has deteriorated slightly but the prospects for the Euro still remain rather positive.

All in all, the uncertainty surrounding Brexit will I feel be more of a drag on GBPEUR than the political uncertainty in the Eurozone. We should see the market shift according to the run of events which could see the Euro weaker in March when we have the Italian election. Further negative developments on the Spanish or German situation could weigh on the Euro but as mentioned I do feel the weakness of the pound will remain more in focus once again in 2018.

If you are buying or selling Euros for pounds the exchange rate is at an important junction as we have more reasons to be positive over Brexit which has helped the pound, but a number of challenges remain ahead. If you wish to get an overview of the position or discuss further a forecast relating specifically to your position, please feel free to contact me Jonny to discuss further your currency situation.

To learn more about the year ahead on GBPEUR exchange rates and discuss options and strategy please contact me on jmw@currencies.co.uk.

GBP EUR Rates before EU Summit

The pound should be in for a volatile couple of days with Theresa May flying to Brussels today to meet the other 27 European leaders at this summit. It will be decided officially if sufficient progress has been made for talks to move on to the second phase in the negotiations and the outcome should have a sizeable impact on the price of GBP EUR.

If the mood is positive from both the UK and EU side then this is likely to have a positive impact on sterling exchange rates. A move back over 1.15 for GBP EUR seems entirely plausible and could present some good opportunities for those clients looking to buy Euros. Those clients looking at selling Euros for pounds would be wise to consider securing a rate prior to any announcements as the odds would suggest that an agreement will be reached.

Theresa May goes to Brussels today having lost a key vote in the House of Commons last night which allows parliament to now have vote on the final deal offered by the EU and some would argue it weakens her hand in these important negotiations. This could cause problems further down the line in government as well as delays in delivering Brexit and in my view this is likley to create additional uncertainty for sterling exchange rates going forward. A key vote next week on the setting of a date for Brexit enshrining it into law will be crucial and if the government was to lose this vote then the pound could come under additional pressure. The Bank of England and European Central Bank interest rate decisions today are also likely to create more volatility for GBP EUR.

Today and tomorrow could see major market movement on the back of the summit so to discuss how your individual currency requirement is likely to be impacted by these events then please feel free to get in touch with me at jll@currencies.co.uk

GBP EUR Recovers Ground on Expected Brexit Deal

GBP EUR exchange rates have rallied in afternoon trade recovering the losses seen this morning for this pair. The pound has seen a hugely volatile couple of days as the Brexit negotiations continue to be the main driving force for sterling exchange rates. The lack of agreement at the last moment yesterday when the deal was scuppered by the Democratic Unionist Party (DUP) saw sterling fall from its recent highs although it is clear that an agreement is the preferred option from all sides.

Any breakthrough which could come later this week could see the pound rally as the prospect of a no deal scenario becomes less likely. Those who are optimistic could see some excellent gains for those clients looking to buy Euros. The crunch point will be the end of next week after the EU summit 14th & 15th December. Any deal should be worked out by this time and any failure in not doing so would almost certainly see the pound weaken.

Data is light for both the UK and EU on Wednesday so focus will move to UK house price numbers on Thursday and EU Gross Domestic Product data. The EU had suffered until recently from very weak economic growth and so these numbers will be closely scrutinised by the European Central Bank. Economic data has largely been positive in recent weeks and confidence in the EU reached a 17 year high in November.

With Brexit negotiations between the relevant parties continuing then developments here will almost certainly overshadow the economic data. Once again it is politics which is having the biggest impact on GBP EUR rates and this is unlikely to change anytime soon with discussions expected to continue right up to the wire in 2019.

For more information on the price of sterling and the Euro then please get in touch with me James at jll@currencies.co.uk

What can we expect in the coming weeks on GBPEUR?

The pound to Euro rate has risen against the odds as the UK appears to be getting further ahead with its Brexit plans. The European Union is meeting with the UK at the latest Brexit summit on the 14th and 15th December which is the next major phase of the plans. If there is anything you need to look at, whether buying or selling Euros there are two key events to be aware of which may move the market.

The EU Summit is vital but also the Catalonian independence election on the 21st December. The overall belief is that the pound could rise further against the Euro. The overall impression is that the pound could rise further against the Euro if the EU summit does prove interesting for the UK and the pound but actually we need to be careful that all of the goodwill so far towards sterling does not quickly undo itself.

If you have a transfer buying the pound in the future then there is a real chance the Euro will weaken further so it might make sense to be looking to maximise the transfer sooner than later. Overall expectations are that the pound could rise further although there are no guarantees. I would personally be very conscious sterling could suffer longer term because of the Brexit.

If you have a transfer to make buying or selling the pound or the Euro this month there are two key releases which will be important. For more information at no cost or obligation please get in touch by emailing jmw@currencies.co.uk.

GBP EUR Rates Fall on Political Uncertainty

The pound has dropped sharply in afternoon trade with rates for GBP EUR falling to a low of 1.1136. The edited documents in British politics which highlight the impact on Brexit on 58 different sectors appear to have been watered down for other politicians to view in an attempt to try and keep certain elements which are commercially sensitive out of the public domain.

There have now been suggestions from the Labour party that the government could be in contempt of parliament if it refuses to release all details in the reports. This news is yet another issue for this government which is having to tread very carefully with everything going on in this Brexit negotiation and is weighing on sterling exchange rates.

With a stalemate in negotiations between Britain and the EU the markets now look forward to the EU summit in December which could see a hugely volatile period for GBP EUR rates. If the deadlock is broken then there could be a great opportunity to buy Euros. The risk remains however that there could be a no deal and this would likely see the pound tumble sharply which could help anyone looking to sell Euros.

EU data sees consumer confidence numbers tomorrow ahead of the eagerly awaited inflation and unemployment data on Thursday. The EU has suffered with low inflation for almost a decade but this year has managed to see a pick up in the numbers which is helping the Euro make a recovery. A strong number here will only help cement the view that the European Central Bank is coming to an end of its loose monetary policy which should help support the Euro further.

For more information on GBP EUR exchange rates and how these key upcoming events have a direct impact on the rates of exchange and how to maximise on the opportunities as they happen then feel free to get in touch with me James at jll@currencies.co.uk

Sterling Rates Steady after UK Budget

After a very safe budget from Chancellor of the Exchequer Philip Hammond yesterday the pound has seen little in the way of volatility on the back of it. The ongoing uncertainty of Brexit remains the main sticking point however and continues to weigh heavily on sterling exchange rates.

GBP EUR is currently sitting at 1.1255 and the markets now wait for the end of next week for the end of a two week ultimatum set by Michel Barnier for Britain to offer more in the divorce bill to try and break the deadlock and move discussions on to future trade. Rumours are circulating that UK Prime Minster Theresa May will offer €38 billion in the first week of December although where rates for GBP EUR move to will very much depend on how well such an offer is received by the EU.

Will the pound strengthen?

Should trade discussions open then this in my view would be very good for sterling exchange rates and there could be a good shift higher for GBP EUR. The risk for those clients waiting for rates to improve is that is the conversation does not move on to trade then this could see the pound weaken materially across all of the major currencies including the Euro. The prospect of a no deal scenario continues to keep the pound at bay. The problems for the pound is that the negotiations will continue right through up until 2019 which leaves a very long period of uncertainty.

Clients looking to buy or sell Euros should pay close attention to developments surrounding the EU ultimatum for more money and would be wise to get in touch to look at the options available and how to take advantage of the better rates when they become available. Feel free to contact me James at jll@currencies.co.uk

GBP EUR Rallies On Expectation of Increased EU Divorce Offer

The pound has found some support at the end of this week after a poor performance across nearly all of the major currencies. GBP EUR has pushed back over 1.12 this morning after rumours have circulated that UK Prime Minister Theresa May will possibly look to increase her offer of a financial settlement to the EU from €20 billion to €40 billion. Theresa May is in Sweden so any commentary here is likely to have an impact on the price of sterling.

If an offer is made later today the pound could react depending on how well that offer is received. The key to the direction will be the response from EU leaders but if received badly then the pound could fall against the Euro. The response today could also tie in to next week’s budget which will be delivered by Chancellor Philip Hammond and this is likely to be a big market mover next week.

UK data softened this week after retail sales numbers fell to their lowest level since 2013. Although the figure was higher than expected the fact that it is materially lower than four years ago is a concern for the British economy and hence the pound. With no UK economic data releases today the focus will be on a speech from European Central Bank President Mario Draghi and construction numbers this morning.

UK Gross Domestic product figures are released next week and any improvement here could help lend support to the pound. Considering the NIESR estimate pointed to stronger GDP going forward then there is the potential to see some upside for sterling exchange rates.

It is clear there are so many factors revolving around politics and Brexit which are having a direct impact on the price of sterling and the next week will be crucial in where rates will be heading next. Clients selling Euros continue to see an excellent opportunity for buying pounds. If you would like to discuss your requirement and the impact that these economic and political events are having then please get in touch with me and I will be happy to give you my thoughts. My email address is jll@currencies.co.uk

Will GBPEUR slide below 1.10?

The pound to Euro exchange rate has been bouncing between 1.11 and 1.14 in the last month but lately seems to be on a gentle slide owing to uncertainty over Brexit and the UK government, plus the strengthening Euro. The Eurozone economy was shown to be growing at a very fast pace at 0.6% which has outpaced the US for the year on year at 2.5% versus the US’ 2.3%. Once again it is a case of the Euro rising and the pound weakening, will this continue?

On balance I would expect it probably will, trying to predict the longer term outcome’s are always tricky but we do need to bear in mind the great legal and political challenges ahead for the UK. In my mind these far outweigh what the Eurozone has to go through so ultimately I feel that this see the Euro outperforming the pound.

If you have a transfer buying or selling the pound at present, next week or even in the New Year now is a good time to be making plans. With the all-important UK and Eurozone interest rate decisions out of the way we are now focused on path ahead which will encounter the next developments with Brexit plus the Spanish independence election for Catalonia. Plus 2018 sees the Italian election which will be very closely monitored for signs of anti-EU feelings…

I suspect rates will be trading at fairly similar levels between 1.10 and 1.15 between now and early next year, however any shocks could easily see sterling much lower back below 1.10 again. I would not be ruling this move out and for any clients looking to buy Euros I would be cautiously monitoring the situation for any spikes. If you need to make a transfer and wish to be alerted to any spikes please speak to me Jonathan Watson by emailing jmw@currencies.co.uk with an outline of your position.

Thank you for reading this post and I hope to discuss your situation and the best strategy very soon.

Will the GBP/EUR rate break out of its current trading range anytime soon? (Joseph Wright)

The Pound to Euro exchange rate is now trading towards the bottom end of its current trading range, as the pair have dropped down to the 1.11’s.

For some time now the pair have struggled to breach the 1.14 mark, and with there being talk of Theresa May’s (UK Prime Minister) position coming under pressure along with some disappointing inflation data yesterday, the Pound has been under pressure which has pushed it to the lower levels of the current range which I believe is roughly 1.10 to 1.14.

Now the likelihood of further rate hikes in line with the Bank of England’s plans are looking less likely, we’ve seen the Pound drop off and I think that the rate could continue to soften should this continue.

Those selling Euros into Pounds are still in a great position when we consider that the current EUR/GBP rate is trading towards the top end of a 10-year range, which mid-market levels now close to 0.90. This may continue mostly owing to GBP weakness, but I do think the Catalonian independence issue could scupper the Euros strong position should it resurface once again.

If you wish to kept updated regarding any short term price movements between the pair, do feel free to register your interest with me. Yesterday the Euro hit a 1-month high against the Pound so those that wished to be kept updated were able to take advantage of our service.

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 Rates Fall Below 1.13 Amidst Political and Brexit Uncertainty (James Lovick)

The pound is struggling to push beyond the recent highs against the Euro with levels for GBP EUR sitting just below 1.13.
The pound is being hampered by constant political uncertainty with new stories coming out almost by the day all adding a little bit of risk for the pound. The latest resignation of a senior cabinet minister could see a cabinet reshuffle in the coming weeks.

The resignation yesterday from Priti Patel and Sir Michael Fallon in the week before all weigh heavy on a government that recently lost its majority in the House of Commons. Politics continues to be a major driving force for sterling exchange rates and this is unlikely to change anytime soon. With the position of International Development Secretary now filled by Penny Mordaunt expect the markets to guess who will be next to go.

UK economic data is heavy on Friday with manufacturing and industrial production figures as well as trade balance data. The GDP estimate from the National Institute for Economic and Social Research could also create some major volatility for the pound vs the Euro. The strength of the British economy is a big driver for the price of sterling and any projection of a fall could see the pound come under added pressure. The NIESR estimate is an excellent pre cursor to the official economic data and the markets can move quickly on the bag of a strong or weak number.

Selling Euros?

The Brexit negotiations have resumed today and any comments from Brexit secretary David Davis or his counterpart Michel Barnier are likely to cause volatility for sterling Euro rates. The stalemate over the amount Britain is prepared to pay is preventing the pound from making gains although it may only be a matter of time before sufficient progress is made.

Clients looking to buy or sell Euros would be wise to make contact and look at the options available. There are reports that pressure is mounting on Britain to move forward within the next two weeks. As such at the end of the period there could be some considerable volatility for GBP EUR. Please feel free to make contact with me at jll@currencies.co.uk to take a look at your requirement and how we can help achieve the best rates of exchange as they become available.

All eyes on Inflation figures this morning (Joseph Wright)

This morning could be important for Sterling exchange rates, not just this morning but moving forward as analysts are expecting to see UK inflation levels hit a 5-year high.

The weakening of the Pound since the Brexit vote has pushed up the rate of inflation in the UK, and for a while now the inflation level has been well above the Bank of England’s 2% target. Many analysts in the city are expecting to see the rate hit 3% for September, and if this happens there is a high chance that the Bank of England may look to hike interest rates for the first time in over 10 years.

A 3% inflation level would be a 5-year high and the governor of the Bank of England has hinted at hiking rates as soon as next month.

A high reading this morning would likely result in Sterling strength as the markets would expect to see a rate hike from the BoE, and at the same time if the inflation level is lower than expectations, I think there’s a chance the Pound would fall.

Mark Carney will also be speaking later this morning as he testifies to MP’s on the Treasury this morning. It will be interesting to see whether he discusses inflation and potential rate hikes and if he does it will be interesting to see how the Pound reacts.

Aside from today’s busy morning this Thursday could also be busy as Retail Sales data will be released which could impact Sterling depending on how the figures perform.

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.

Quiet end to the week for UK data releases, what could cause the GBP/EUR rate to move this week? (Joseph Wright)

Those hoping for better Pound to Euro exchange rates have taken a knock this morning after the much publicised Catalonian independence situation has cooled for the meantime.

Yesterday evening the Catalan President, Carles Puigdemont and other regional leaders signed a declaration of independence, but interestingly chose to suspend the move allowing some time to negotiate with Spain.

The situation had been under the microscope in recent weeks and was seen as a potential downside to the Euros value as political instability is often a reason for currency weakness, and I expect the cooling of this situation for now at least to take some pressure off of the Euro.

The Euro is up this morning against all major currency pairs, and at the time of writing the Euro to Pound rate is trading at its day highs.

There is little economic data out for the rest of this week that involves the UK economy directly, so I expect to see the GBP/EUR driven by sentiment or Eurozone specific data releases. The ECB president, Mario Draghi will be speaking tomorrow at 3.30pm so I expect markets to be glued to his comments as is normally the case when he speaks.

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

GBP EUR Falls to below 1.12 after German Intervention

The pound has fallen against the Euro from its recent peak with levels having fallen below 1.12 for this pair and sliding. Clients who need to buy Euros may wish to consider securing sooner rather than later to take the risk of rates falling further out of the equation. The news yesterday from German industry that German firms that are based in the UK should start preparing for a very hard Brexit has had an instant negative effect on GBP EUR.

The BDI, federation of German industry has made clear that the priority must be to defend the single market and its four freedoms. This rhetoric combined with the political uncertainty in the UK and the fact that Britain is drafting contingency plans for a no deal situation is keeping the pressure on sterling exchange rates.

If the Brexit negotiations continue to go badly then the pound could see a material fall and there is a good chance there will be more headwinds to come for the UK.

This lunchtime sees a speech from Bank of England member Andy Haldane and any clues as to when that first interest rate hike will take place that are offered may have a sizeable impact for those clients looking to buy or sell Euros. Any suggestion from Andy Haldane that he supports a rate hike in November could see the pound rally on the news and this in my view is likely considering his recent stance on monetary policy. He has previously said that a rate hike would be good for the economy.

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

Pound to Euro rate drops as UK Construction sector contracts, will today’s data push the Pound lower? (Joseph Wright)

Despite issues within the Eurozone at the moment such as the Catalonian independence referendum, the Pound fell against the Euro yesterday after Sterling weakness outweighed Euro weakness.

The past week has yielded some negative data for the Pound which has seen it dip from its highs last month of 1.14. Revised yearly GDP figures were revised downward to 1.5% from the previous figure of 1.7%, mortgage approvals were down by 3000, manufacturing in the UK dropped slightly and UK construction figures dropped quite heavily yesterday.

Today’s data release covers the services sector within the UK which is arguably the more important release as the services sector covers around three-quarters of the UK economy and therefore the figure tends to be watched very closely.

Aside from today’s data release a member of the Bank of England, Andy Haldane will be giving a speech later this week which could cause further movements between the GBP/EUR rate if any hints at future monetary policy are given, especially after talk of an interest rate hike from the BoE has begun to heat up in recent weeks.

The situation in Catalonia looks set to continue which I think could push the Euro lower, so it will be interesting to see if the Pound will recover back to its August highs if the data out of the UK turns more positive.

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 Rates ahead of UK GDP Data

The pound is hitting resistance at the higher level versus the Euro after what has been an excellent push higher over these last two weeks.
UK Gross Domestic Product (GDP) numbers are likely to be a big driver going forward and the data this morning could have a sizeable impact on the direction of sterling exchange rates.

Any weakening in economic growth could see the Bank of England reign in its recent strong rhetoric and see the pound start to lose some of its recent excellent gains. UK GDP is expected to arrive at 0.3% although a small slip closer to zero growth could be sterling negative. For the moment there is an excellent opportunity for those clients looking to buy Euros with pounds.
Bank of England Governor Mark Carney will be speaking later today and the markets will be listening out for any clues that are offered.

The pound is sitting at levels circa 1.14 against the Euro and the recent surge has largely been brought about by a sudden change of stance from the Bank of England which now seeks to raise interest rates in the coming months. There is a now 50% chance that there will be an interest rate hike in November whilst a rate hike has been fully priced in by February of next year. If the Bank does decide to hike in November then the pound is likely to rally that little bit further although there is a risk that rates could fall if no action is taken.

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

How will the pound perform against the Euro ion the next month?

The pound has been dramatically rising against the Euro on the back of expectations that the UK will raise interest rates before February of next year. Investors have piled into the pound taking up speculative positions on a belief that the British pound will be worth more in the future. The pessimist in me would point out that we have not seen any interest rate hikes in the UK in ten years and whilst there is more evidence at present for a hike, ultimately I don’t think this is very likely and sterling will fall back.

Looking at the Euro, the weakness we are seeing is the result of the German elections which has seen Angela Merkel losing support and the far-right gaining support. This is putting real pressure on the Euro which has weakened and I believe it will weaken further in the future. I expect to see GBPEUR lose value up to 1.12 before rising back to potentially 1.16 in the coming weeks.

Overall there is a feeling the pound will rise further and whilst I am of the opinion it will fall back quickly, there is more than likely a chance that the ultimate move will be lower. If you have a transfer buying Euros with the pound it is looking like it will continue to be a very expensive transfer as the pound struggle to shake off the Brexit worries.

If you are looking to make a transfer in the future then making sure you have all the relevant information on the rate is crucial to getting the best deals. 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.

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.

UK Services data released this morning likely to drive GBP/EUR today, what other data should be watched closely? (Joseph Wright)

This morning the most important sector for the UK economy will be under the spotlight as Services PMI data is scheduled for release.

The figure will be released at 9.30am and it will cover business sentiment in the sector, which is particularly important for the UK economy as the services sector covers around 80% of the UK economy. Whether this figure impresses or not is likely to move the Pound to Euro exchange rate due to its importance, and those following the GBP to EUR exchange rate should kind in mind that the manufacturing and construction figures released over the past couple of days have been mixed which has resulted in a mixed performance for the Pound.

The services sector figure has higher potential to result in price movement and the figure expected for releases is 53.5 so this is the figure to look out for.

We’re able to provide our clients with guidance regarding the news releases and expected figures that could potentially impact their currency transaction requirement. If you would like to be kep updated regarding the markets do feel free to register your interest with me and I’ll be happy to discuss it with you.

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.