Tag Archives: Sterling

Sterling to Euro rate continues to trade towards the lower end of its current range, will this trend continue? (Joseph Wright)

The Pound is continuing to come under pressure as we get closer to the election, especially as a number of prominent opinion polls this week have shown that the lead the Conservatives had is diminishing with some suggesting that they may not win a majority of seats required.

If the option polls are correct we could be looking at another Hung Parliament in the UK which I believe would push the Pound lower and probably back towards the 1.10 mark.

The current trend for the GBPEUR pair is between 1.1350 up to 1.1950 although a couple of times towards the back end of last year the rate did touch 1.10 twice before seeing support.

A steep drop for Sterling is in my opinion likely if a Hung Parliament is announced, and I don’t think that the current UK Prime Minister has done herself many favours this week by not attending the debates between the political rivals in the race for number 10.

If you would like to be kept up to date with the latest market updates do feel free to register your interest with me and I’ll be happy to keep you updated.

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 vs Euro at the highest rate since February (Tom Holian)

Pound to Euro exchange rates have hit their best rate to buy Euros since late February.

Since the triggering of Article 50 on Wednesday the Pound has edged up against the single currency despite some previous predictions that the Pound would struggle once the formal announcement was made.

It appears as though the value of Sterling Euro exchange rates for the last few weeks has been priced in which means there was an expectation for the trigger of Article 50 so when it was actually announced it cause little movement for Sterling.

Indeed, at least for the time being the focus will now turn back to the economy before the EU negotiations will take place.

We saw UK GDP come in line with expectation shrugging off any Brexit fears for the fourth quarter of 2016 and this has also lent the Pound some support vs the Euro.

Also, published yesterday were Eurozone inflation figures which saw a big drop from the expectation of 2% to 1.5%.

This caused weakness for the Euro sending GBPEUR exchange rates up to their highest level since the final week of February. Good news if you need to buy Euros to send to Europe for a property purchase or even living expenses.

The reason for the weakening of the Euro is that if inflation falls it demonstrates that the QE programme which the ECB has in place until early next year it not necessarily working which means it could be extended.

It also means that the ECB will not be able to increase interest rates for quite some time. Therefore, this is the reason why we have seen Sterling increase against the Euro towards the end of the week.

If you have a currency transfer to make and would like to save money when buying or selling Euros then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Positive UK Retail Sales provide Sterling support vs the Euro (Tom Holian)

UK Retail Sales have just been published this morning and they came out much better than expected.

The expectation was for 0.4% and the figures showed an improvement to 1.4% for month on month.

This surprise economic data has seen huge increases for the Pound this morning against the Euro and all other major currencies.

UK Retail Sales in recent months have been relatively low so this morning’s data has provided huge support for Sterling.

Eurozone Consumer Confidence data is due to be released at 3pm this afternoon and this has been very positive in recent months so another strong data release could reverse Sterling’s gains from this morning.

However, will this gain be short lived and will Sterling fall next week?

With now less than a week to go before Article 50 is triggered people are getting prepared for what may happen to GBPEUR exchange rates once the official letter has been sent to confirm that we will be leaving the European Union.

Many of my clients have been buying forward contracts when buying or selling Euros in order to remove the potential uncertainty of what may happen next week.

A forward contract allows you to fix an exchange rate for a future date for a small deposit and means that whether markets go up or down you have the peace of mind knowing exactly how much it will cost.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident that not only am I able to offer you bank beating exchange rates but also help you with the timing of your trade.

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

Tom Holian teh@currencies.co.uk

 

Rate to buy Euros with Sterling and the impact of next week’s Eurozone economic data (Tom Holian)

We are in for a big week for anyone looking to buy Euros with Sterling as the focus will turn to Eurozone economic data due to be released early next week.

UK GDP from Thursday has already shown that the British economy has remained resilient during the final quarter of 2016 and that the Brexit uncertainty has not had the negative effect that some experts previously had predicted.

On Monday of next week Eurozone data begins with the release of Consumer Confidence as well as Industrial Confidence data. This is likely to cause some volatility for GBPEUR rates but personally I think Tuesday’s data will cause the most movement for the Pound vs the Euro.

On Tuesday the Eurozone announces Inflation, GDP and Unemployment data. Each data release is extremely important in its own right and all three are due to be released within an hour of each other which is rather unusual so in my opinion this could cause huge movements for Sterling vs the Euro shortly after the release on Tuesday morning.

Therefore, it is important that you keep a close eye on what is happening with rates as this is likely to affect the value of Sterling vs the Euro but it is not yet clear whether the data will be positive or negative.

Sterling has been trying to get towards 1.20 recently and has struggled to get past 1.18 during this month but if the data is negative for the Eurozone early next week this could be the catalyst needed to send GBPEUR rates in the direction of 1.20.

However, the ongoing discussions concerning the Brexit are likely to weigh heavily on Sterling so the opportunity to buy at slightly higher rates could be limited.

To be kept up to date with what is happening between Sterling and the Euro or if you have a currency transfer to make then contact me directly for a free quote and I look forward to hearing from you.

I have worked in the fx industry since 2003 for one of the UK’s leading currency brokers and therefore I am able to offer you bank beating rates.

For a free quote please email me with a brief outline of what you need to do and I’ll happily respond.

Tom Holian teh@currencies.co.uk

 

 

 

When should I buy Euros with Sterling? (Tom Holian)

The rate to buy Euros with Sterling has seen a dramatic improvement over the last fortnight following Theresa May’s rather bullish speech when she stated that the government would seek parliamentary approval with regards the Brexit issue.

However, even though UK GDP came out better than expected we have seen a surprise fall for Sterling vs the single currency this morning although the Pound has now shot back up to where it was at the start of the trading session.

It appears as though Sterling is now on a general trend in an upwards direction against the Euro and the stumbling block which was the Supreme Court verdict has now been hurdled successfully.

We are clearly not out of the woods for Sterling but at least for the time being things are going in the right direction and we could see further gains next week as we end the month.

Tomorrow afternoon US GDP data is released and often with US data this causes a lot of movement for global currency rates. If the data is positive this could end up with Dollar strength and Euro weakness creating some better opportunities to buy Euros with Sterling.

Therefore, we could be in for a volatile end to the week and I think we could see Sterling end the week on a high.

If you’re worried about the ongoing uncertainty caused by the Brexit issues and have a currency purchase to make in the near future it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

Having worked for www.currencies.co.uk for over 14 years I am confident that not only can I offer you bank beating exchange rates but also help you with the timing of your transfer.

If you have a currency transfer to make 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

 

 

Sterling makes gains vs the Euro following ECB action (Tom Holian)

GBPEUR exchange rates have made gains following the action taken by the European Central Bank during yesterday’s trading session.

The central bank announced that they will be continuing their Quantitative Easing programme which was due to end in March 2017. The plan is now to reduce the monthly amount from €80bn per month to €60bn per month until December.

As the ECB have bought so many bonds already they now have to make purchases of negative ones which in effect means by performing QE this actually costs the central bank money to do it.

This has caused the Euro to dramatically fall vs the US Dollar and also against Sterling which is now back to levels seen early Monday morning following the news from the Italian referendum which saw GBPEUR rates hit their best level to buy Euros in 4 months.

Clearly the issues surrounding the triggering of Article 50 have not yet been resolved and the Supreme Court judgement is not due until January so I’m personally expecting the volatility to continue between Sterling and Euro but I do feel there is room for improvement for the Pound vs the single currency and I predict that we could see 1.20 hit before the end of this year.

Indeed, this morning UK Trade Balance figures came out better than expected which has seen the Pound improve overnight by 1 cent vs the Euro providing some good news for those looking to transfer money to Europe.

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

If you need to buy or sell Euros and would like a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Will GBPEUR easily hit 1.10 now?

The GBPEUR rate could now easily hit the 1.10 level if we see some of the key data for the pound slip as many are predicting. The pound has maintained a level of buoyancy against the euro with some much better than expected economic data. However many of the business surveys are pointing to big falls in consumer and business confidence. What is going on? The mixed picture is likely to continue but with the market looking ahead sterling has fallen.

Key data this month will be the latest GDP and Unemployment data which will be released next week and towards the end of the month. I am predicting the data might not be as bad predicted but unless it is really showing the UK economy is doing very well we might find the Bank of England looks to consider an interest rate cut. This is a big worry on financial markets since as we get closer and closer to the decision the outside chance of a rate cut will weigh on the pound even if we aren’t actually looking at one. The market will take into account all possible considerations! This is where we might see a move towards 1.10.

If you are looking to buy or sell the Euros in the coming months then making some plans in advance is key to fully understanding and managing your risk. Most analysts suggest the GBPEUR rate will slide further and clients buying and selling the pound need to prepare themselves for further volatility.

For more information on what lies ahead and how to best prepare yourself foe all eventualities please contact me Jonathan on jmw@currencies.co.uk

Sterling Gains Value Following Deutsche Bank Rumours (Matthew Vassallo)

Sterling has gained value against its EUR counterpart following rumours yesterday that one of Germany’s biggest institutions, Deutsche Bank is on the rocks. Its share prices have hit an all-time low and this has sent shock waves through the market. German Chancellor Angela Merkel has already stated that the bank will not be bailed out and this has added to the drop in the EUR value. It is also a stark reminder that it is not just the UK economy, which remains fragile in investors’ minds.

The Eurozone is likely to come under further pressure over the coming months, with key elections in France and Germany in 2017 likely to cause further uncertainty in the market. With far right parties across Europe gaining more support than ever we could see an extremely unstable few months, with the EUR likely to suffer as a result.

Whilst Sterling is unlikely to be driven forward by an overriding feeling of positivity, we could well see its value driven up inadvertently by the potential problems facing the EUR. Those clients holding the single currency may be wise to protect their position ahead of what could be a rocky road ahead, as the current near 4 year highs could soon be a thing of the past.

If you are keen to discuss the current market trends ahead of an upcoming transfer, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 487 and ask one of the team for Matt. Alternatively, I can be emailed directly on mtv@currencies.co.uk

The UK economy is performing better than expected since the ‘Brexit’ vote, with GBP/EUR likely to continue recovery (Joseph Wright)

Sterling exchange rates have posted another positive day across the board, with GBP/EUR now comfortably trading above 1.17 at the inter-bank level and with the day’s high hitting 1.17675.

After posting some better than expected Retail and Manufacturing figures recently, the post-brexit vote UK has once again demonstrated that it’s holding up better than expected as overnight the CBI’s most recent Service Sector Survey revealed that the volume of business is little unchanged over the quarter, and this isn’t expected to change anytime soon.

Employment numbers have also remained robust, and it’s also been noted that oversea’s investment in the UK is at record numbers.

These are all positive signs for the Pound moving forward, as a healthy economy is likely to result in a higher Pound. Whilst the Pound may continue to rise as it has been over the past week, Sterling sellers should also keep a close out out for a further interest rate cut which would likely wipe out the recent gains for the Pound (up from the 1.14’s and now in the 1.17’s).

Euro sellers on the other hand are looking at close to 3 year highs when it comes to value of the Euro. Anyone who plans to convert their Euros into Pounds and would like to discuss timings can feel free to get in touch with me on the details below. A number of our clients have benefited not just from our exchange rates (up to 3% more competitive when compared the high street banks) but also from our proactive approach, so it’s worth getting in touch for a quick discussion as it’s free to become a client.

 If you are planning to use GBP to buy a foreign currency, it’s 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.

Sterling still slipping as post referendum data continues to be poor (Daniel Wright)

The Pound has continued to weaken against all major currencies as had been widely expected this month, as we continue to see poor economic data releases following the decision by the public to vote in favour of leaving the EU.

This decision has led to lots of investors and business’s holding back from getting involved in anything too large until they can see a clearer picture of what the plan is going forward.

We have a fairly quiet week ahead in terms of economic data still to come out for the U.K however European growth figures due out tomorrow morning may well be key to where this currency pairing may head to next.

Expectations are for the growth level to remain steady so any alterations to the expected figure of 0.3% for the quarter and 1.6% year on year may lead to some further volatility for Euro exchange rates tomorrow morning.

It is important to remember that there are still plenty of problems for the European banks, most notably in Italy at present so we still may be set for the Euro to take a tumble in the near future, however the Eurozone are very good at sweeping problems like this under the carpet so we may be weeks, months or even years away from seeing this happen.

If you have Sterling or Euros to exchange either imminently or in the future then it is well worth filling in the form below and I will personally give you a call. You can also email me (Daniel Wright) directly on djw@currencies.co.uk and I will happy to respond as soon as I can.

Sterling weakens ahead of today’s Bank of England Interest Rate Decision (Joseph Wright)

Today is likely to be the most volatile day of trading this week for Sterling exchange rates across the board, as at 12pm the Monetary Policy Committee (MPC) will announce their latest Interest Rate Decision.

This is an important announcement because an Interest Rate cut is expected within currency markets, and if the 9 voting members of the Bank of England’s Monetary Policy Committee decide to amend Interest Rates it will be the first time since May of 2009, so it the decision would be significant.

Mark Carney, the governor of the Bank of England has previously alluded to making the cut. He did this in the aftermath of the ‘Brexit’ decision that shocked the financial world. The MPC has already had one opportunity to cut rates and when they opted not to (8 votes to 1) the Pound did bounce upward across the board.

My predictions for today are as follows. Should the rate be cut down to 0.25% as expected today could be a non-event, with markets already pricing in the change. If rates are not cut I think we could see the Pound spike upward, perhaps even breaching the key current threshold of 1.20 vs the Euro. If rates are cut by more than 0.25% I’m expecting quite a drop for the Pound, so anyone making a currency conversion today or this week should bear in mind the importance of today’s decision and the potential movement within GBP/EUR exchange rates.

Feel free to get in contact with me (Joe) if you wish to discuss an upcoming currency exchange between GBP and EUR on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

Will Sterling fall against the Euro? (Tom Holian)

Sterling Euro exchange rates have once again come under enormous pressure following the release of the UK’s latest Purchasing Manager’s Index which measures economic activity.

The data showed the lowest level since April 2009 and clearly this has been caused by the impact of the Brexit period.

British business has stalled and adopted a wait and see attitude during this time and this can be attributed to the fall in this data. This caused Sterling to fall by as much as 1% against the single currency during Friday’s trading session.

On Wednesday the UK announces UK GDP data for the second quarter. As this data will also include that from the Brexit I think we could see some real problems for the release and this could see Sterling exchange rates fall if the data comes out worryingly low.

Indeed, one source has even suggested that we could see a contraction in growth by 0.4% possibly sending us towards a recession.

When this happened previously Sterling took a big fall against the Euro so Wednesday’s data could be a real pivotal point for Sterling Euro exchange rates in the short to medium term.

However, although the UK economy is under pressure and therefore Sterling exchange rates have also struggled we could see some huge volatility towards the end of next week.

The European banking stress tests are due on Friday night and are set to be released suspiciously at 9pm outside of business hours.

Typically the reason why a news release is announced over the weekend is that it could cause too much volatility for the markets and I think this will cause some big movements on the currency markets.

The test includes 51 of the largest European banks by assets including British banks but since the credit crunch British banks have all had their capital requirements increased. Therefore, the focus is likely to be on the Italian banking sector which is coming under severe pressure during 2016.

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

I look forward to hearing from you.

 

 

 

What is happening to Sterling Euro exchange rates? (Tom Holian)

Sterling Euro exchange rates have started to witness a brief recovery after the turmoil caused by the Brexit vote just over 3 weeks ago.

Prior to the announcement Sterling was trading above 1.3o and we have seen a drop of over 12% against the Euro but this week Sterling has showed signs of recovery.

The news of the new Prime Minister Theresa May coming in has helped to settle the economy and Sterling has taken the news positively as it has stabilised the very uncertain political landscape in the wake of David Cameron’s decision to resign.

Previously the Tory leadership was due to take 9 weeks but when Andrea Leadsom stood down last Monday this helped the economy.

Also on Thursday the Bank of England surprised the majority with an 8-1 vote in favour of keeping interest rates on hold.

The expectation was for a rate cut of 0.25% and the absence of any change in monetary policy caused the Pound to very briefly hit 1.21.

With the Consumer Price Index due to be published next Tuesday this could influence the central bank’s decision when they meet on 4th August to decide wether or not to change policy.

Bank of England governor Mark Carney has been very outspoken recently and there is clearly a huge appetite for further easing so if Tuesday’s announcement shows lower than the 0.4% expected then we could see Sterling fall against the Euro.

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

I look forward to hearing from you.

 

 

 

Will there be a UK Interest Rate cut? (Daniel Charles Johnson)

Over the last 48hrs we are seeing a new cabinet form. The appointment of Theresa May as the New Prime Minister has eased political uncertainty and caused a Sterling rally against the majority of major currencies. This may not last however.

Today will see the most eagerly awaited UK interest rate decision for years. UK Interest rates  have been sat at 0.5% for several years and today there is a strong possibility of a rate cut to 0.25% following Brexit. By lowering interest rates the Bank of England is attempting cause economic growth by making money cheaper to borrow.  Mark Carney the governor of the Bank of England has indicated there is also £150bn available for quantitative easing (QE).  QE is essentially pumping money into an economy in order to stimulate growth, Both of these monetary policy tools if implemented should weaken the pound.

If you have a currency requirement it is extremely important to be in touch with an seasoned broker. The timing of your trade is key during such a unpredictable  times, If you have an experienced broker on board he can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to assist with your trade I will be happy to help. Let me know the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the UK and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 4% saving in comparison to high street banks. Please do get in touch by contacting me at dcj@currencies.co.uk. Thank you for reading my blog and I look forward to hearing from you.

Where now for Sterling? (Daniel Charles Johnson)

Sterling has declined considerably against the majority of major currencies. It is at record lows against nearly all. GBP/USD has not been below 1.31 since 1985. The press have mentioned the recovery of the FTSE 100, but the FTSE 350 is a far better barometer and figures are substantially down.

Mark Carney, the governor of the Bank of England (BOE) spoke on Thursday following a stability report. He indicated there is the strong possibility of an interest rate cut, which could come as early as next week. If not next week it is almost a certainty the cut will occur in August. The UK interest rate has sat at a record low of 0.5% for years, I think we will now see it move to 0.25%. Carney also stated there is £150bn available for quantitative easing (QE). QE is essentially feeding money into an economy in order to stimulate growth. If Carney implements these change I would expect Sterling to weaken further.

I think Sterling will recover slowly once we have a prime minister in place. The conservative race for prime minister will today drop to two candidates and we will have a new prime minister in place 2nd September.

If you have a currency requirement it is important to be in touch with an experienced broker. The timing of your trade is key during such a volatile  period, If you have a veteran broker on board he can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to assist with your trade I will be happy to help. Let me know the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the UK and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 4% saving in comparison to high street banks. Please do get in touch by contacting me at dcj@currencies.co.uk. Thank you for reading my article and I look forward to hearing from you.

Brexit issues causes lowest level to buy Euros with Sterling since November 2013 (Tom Holian)

Sterling has hit its lowest level to buy Euros since November 2013 as the fallout from the Brexit continues to dominate the headlines.

GBPUSD rates have also dropped to their lowest level since 1985 and the general movement is negative for Sterling against all major currencies.

Bank of England governor Mark Carney has suggested that the UK may look at cutting interest rates in the near future or adding a further £250bn in the form of Quantitative Easing.

The Monetary Policy Committee meet next Thursday and we could see a change in policy.

Both announcements have not been taken well by the UK and arguably it can be suggested that the jawboning is causing the Pound to weaken in an attempt to stabilise the British economy during this uncertain economic period.

Politically the UK is also not in a good place as with Prime Minister David Cameron stepping down by October it is difficult to see, at least for the moment, who will take his place.

The Labour party are also in a state of flux with various senior party members having left since the EU referendum outcome.

Whilst the political and economic uncertainty continues this is likely to weigh heavily on Sterling exchange rates and therefore arguably a very good time to be selling Euros if you’re in the process of selling abroad or have already sold.

To take advantage of the current rates or if you’re worried about the next few weeks and the uncertain period up ahead you may wish to consider buying a forward contract which allows you to fix exchange rates for a future date.

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

 

 

 

Why rates to buy Euros have fallen (Tom Holian)

The rate to buy Euros has fallen owing to the recent Brexit vote where 51.9% of the vote came out in favour of leaving the European Union.

Even on the night before the result the bookies had odds of 10-1 on that the UK would vote to remain so on Friday morning of last week this caused Sterling Euro exchange rates to plummet by 10 cents.

The markets appeared to settle down during the middle of this week but towards the end of the week Bank of England governor Mark Carney warned of further problems facing the British economy. Indeed, he was a keen advocate of remaining in the European Union and he did warn of problems for the UK’s economy if we voted to leave.

Carney said that we could see a future interest rate cut or potentially further monetary easing in order to settle the economy.

This week we have also seen the UK’s credit rating having been downgraded by both Standard and Poor’s as well as Moody’s. Both have suggested that the UK may experience a recession during the course of this year owing to the uncertainty surrounding the British economy.

The political state of the UK is also looking in a very bad state at the moment as we are currently trying to find a new leader to take David Cameron’s place as well as a lack of confidence in the opposition leader Jeremy Corbyn.

UK data has been relatively good even in light of the problems of the Brexit but this is being overlooked and until any sense of certainty returns we could see Sterling struggle against the Euro.

If you need to buy or sell Euros 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

I look forward to hearing from you.

 

 

 

Sterling continues to drop against the Euro as the referendum approaches (Daniel Wright)

The Pound has continues to drop against the Euro as concerns still way heavily on what the result of the EU referendum may be in the U.K.

As it stands the remain camp are still ahead with the bookmakers and you can still get odds of 5/2 for the U.K to leave. I generally trust the bookmakers more than the polls, as they tend to put their money down on this too so they have to put a lot of research in.

Although there are a few data releases out in the coming days I still feel that the potential ‘brexit’ and referendum will be key for where this currency pairing heads next.

I am still of the opinion that the U.K will remain, however I feel that the vote will be an awful lot closer than many had originally thought as the leave campaigners and people on the ground that wish to leave have a lot more enthusiasm than those wanting to stay, so the overall turnout will be extremely key.

If you are in the process of looking to buy or sell Euros in the near future then it is extremely important to have a proactive and knowledgeable broker on your side over the next few weeks. I help clients maximise their funds by letting them know when opportunities and spikes on the market arise.

You may already have a broker that gives you reasonable prices, but do not settle for second best. Feel free to get in contact with me (Daniel Wright) directly and I will add you to my list of thousands of clients that are well informed and are ready to make the most of their foreign exchange. You can email me on djw@currencies.co.uk and I will get back to you personally.

Best Exchange rates to buy Euros with Sterling – 3 month high (Tom Holian)

Sterling vs Euro exchange rates traded at their best level to buy Euros since February this year.

The Pound gained huge strength against all major currencies this week following the release of an opinion poll which showed that the Remain camp are clearly in the lead meaning that a vote to leave the European Union appears unlikely.

This is one of the first polls that has shown a marked difference and this has provided Sterling with some welcome support.

UK retail sales this week came out much better than expected and this has also caused Sterling to hit these 3 month highs to buy Euros.

The Interbank level has been trading either side of 1.30 during today’s trading session and the currency markets appear to be trying to make up their minds which way to go next.

If we see some solid US data out this afternoon we could see Dollar strength which could result in Euro weakness. This could see Sterling exchange rates end the week on another high.

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

 

 

Inflation Data to set the tone for GBPEUR exchange rates this week (Tom Holian)

Sterling Euro exchange rates are in for another tough week ahead when inflation data is released in the UK on Tuesday and the Eurozone on Wednesday.

The UK Quarterly Inflation Report which was published last week showed signs that inflation is worryingly low and with the Consumer Price Index due to be published on Tuesday morning if we see the figure lower than the estimate of 1.5% year on year then this could see a big fall for Sterling vs the Euro.

Indeed, although all 9 members of the Bank of England voted to keep interest rates on hold to me it’s only a matter of time before one or two of the members look at cutting rates to combat falling inflation.

Wednesday’s inflation data for the Eurozone could provide evidence which supports the recent monetary policy intervention by the European Central Bank to extend and add further QE earlier this year. The ECB have been quite bullish in using QE as a tool to stop falling inflation and I think this could see Euro strength if the data is positive.

On Wednesday UK unemployment data is released and although this has been one of the shining lights in recent times for the British economy with the ongoing fears of a Brexit vote I think we could see unemployment figures coming out lower than expected.

Overall I think we could see Sterling falling vs the Euro during next week.

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