Tag Archives: the best exchange rates

Euro buying opportunity as Italian politics causes concern

The Euro has weakened as investors struggle to make sense of the latest news from Italy and their political situation as we wait to learn the latest coalition proposals. This has been directly linked to the latest news from the 5-Star party and also the far-right league who have both indicated that they are pursuing an agenda which does not conform to the current visions embodied by Merkel and Macron.

Aiming for deeper integration we have seen the Euro rising on the back of previously held views which believe the Eurozone is likely to grow close together and represent a more solid foundation for the future. This highly held view is now under threat as we begin to see a worrying picture emerging of political uncertainty which might create some concerns for future.

The Italian situation could easily spiral out of control as markets being to digest the latest news which is emerging of a government that does not correspond to the high expectations being placed on them. Any breakdown in talks or pursuit of policies which go against the current sentiments from the EU will ultimately lead to a concern for the markets that the Eurozone has some tough questions to answer on the politics front.

GBPEUR has nearly hit 1.15 this morning and EURUSD hit 1.17 today, these are excellent fresh opportunities which may not last if the current viewpoint suddenly deteriorates. If you have a transfer to consider in the future then making plans in advance is sensible to try and avoid the prospect of the market suddenly moving against you.

For more information at no cost or obligation please don’t hesitate to contact me Jonathan buy emailing jmw@currencies.co.uk

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

Has GBP/EUR already hit its 2018 high, and what factors could drive its value as the year progresses?

The Pound to Euro exchange rate is currently trading around the 1.14 mark, after seeing a slight boost yesterday off the back of some positive data.

After beginning yesterday’s trading session closer to the 1.13 mark the Pound was boosted when the Office of National Statistics (ONS) announced that UK unemployment sits at the record low of 4.2%, and that wage growth in the UK has outpaced the rate of inflation for the first time in a year.

Despite this positive data the Pound to Euro rate is still a couple of cents from its highest levels this year when the pair almost hit 1.16. The positive sentiment surrounding the Pound has since dropped off after the Bank of England voted against a rate hike at last weeks monetary policy meeting.

In order for GBP/EUR to hit a new 2018 high I think there will need to be a breakthrough regarding the final Brexit deal, as such positive news would likely push the Pound higher. I also think that if talk of a rate hike returns later in the year we could see a stronger Pound, especially if the European Central Bank (ECB) continue to hold off of raising interest rates this year.

For those following the pair, its worth noting that Morgan Stanley are predicting short term weakness in the Pounds value, before a longer term recovery as they believe the Pound is oversold and that this will continue in the short term future.

There is a lack of data out of the UK for the rest of the week, but this mornings inflation data from the Eurozone may influence exchange rates.

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.

GBPEUR remains range bound in the 1.13s

This morning the UK released their latest average earnings numbers and Europe released their latest GDP numbers and both economic data releases met the expectation. Due to there being no surprises GBPEUR exchange rates have remains fairly flat throughout the day. If anything the pound has made some minor gains against the euro and you could argue the fall in European production is the reasoning for this.

GBPEUR exchange rates have been gradually falling over the last 2 weeks since Governor of the Bank of England Mark Carney announced that the UK were unlikely to raise interest rates. With the central bank failing to hike last Thursday this story could have a major influence on the future of GBPEUR going forward.

UK economic data releases need to be watched closely if you are converting GBPEUR short term. Economic data for April was terrible, if we see a rebound now that the weather has changed the likelihood of a hike increases and therefore the pound should follow suit. However Brexit negotiations will also be a key driver for exchange rates.

UK Prime Minister Theresa May has warned Brexiteers today that she is not prepared for a no deal which would in turn create a hard border in Ireland. My opinion has not changed I would be extremely tempted to buy euros upfront as the Brexit story has the potential to crash the pound if the negotiations go horribly wrong.

For further information in regards to GBPEUR currency transfers feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

Pound to Euro rate hits May high this morning, will Euro weakness continue to push the rate higher?

The Pound to Euro exchange rate has hit a month high this morning, after breaking through 1.14 quite comfortably earlier today for the first time in May.

At the time of writing the pair are trading at 1.1425, offering those exchanging Pounds into Euros the chance to make their trade at the best levels in a few weeks. The move this morning looks like its off the back Euro weakness, with the EUR/USD rate hitting a fresh 2018 low over the past day.

The Euro is the worst performing major currency of the past week, and talk of stubborn inflationary levels stopping the ECB from amending the current monetary policy are beginning to dampen sentiments surrounding the Euro also. The European Central Bank has confirmed that there will be no interest rate hikes this year which is also dampened sentiment towards the Euro, so I can understand why the single currency is dropping especially when we consider how strong it’s been over the last year.

There are a few downsides for the Pound that I think Sterling sellers should be aware of. With Brexit talks stalling in the House of Lords and the Northern Irish border also becoming a hot topic, I think there is a chance the Pound could see a sell-off should there be a negative Brexit related update, and the UK economy has also been showing signs of a slowdown to Sterling sellers should be weary.

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 weakens after hopes of a rate hike in May are dampened, where to next for the GBP/EUR rate? (Joseph Wright)

Financial markets had been pricing in an interest rate hike from the Bank of England since some bullish comments from the Bank of England last month.

The hopes of a rate hike have since dampened after some important comments from the governor of the Bank of England. Yesterday evening whilst speaking to the BBC, Mark Carney cooled expectations of a rate hike next month after not confirming that it would actually happen. There have been a few members of the BoE that have already voted in favour of hiking interest rates, and with the rate of wage growth in the UK now picking up and similar to inflation levels, many were expecting the base rate in the UK to rise to its highest level since the UK exited the recession.

Carney commented that he didn’t want to become too focused on the precise timing of the next rate hike, and although he didn’t rule out the hike he didn’t confirm it which has caused the Pound to weaken in value.

Sterling had been strengthening recently after the Brexit transitional deal has been agreed and hopes of the rate hike next month, so seeing the GBP/EUR rate drop from its highs isn’t a surprise.

There is still a rate hike likely this year although when it will happen remains to be seen. Next week UK GDP is due out on Friday, so if you’re planning on making a transfer involving the Pound and the Euro do feel free to get in touch as there is plenty of time to plan around next Friday’s release.

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.

GBPEUR plummets due to Mark Carney

Late last night Governor of the Bank of England Mark Carney told the BBC that an interest rate hike would occur this year but failed to announce that it would happen at the May meeting. He did state Brexit negotiations and the performance of the UK economy will dictate when the hike occurs. This was seen as extremely dovish by investors and the pound was sold off.

The Governor also spoke about inflation and said as always inflation needs to be monitored closely. With inflation falling quicker than expected this month to 2.5%, if this trends continues I expect to only see one hike this year, which arguably is a bad situation for clients buying euros.

The pound had been making considerable gains against the euro over the last 6 weeks due to the hype of an interest rate hike and the shift in Brexit sentiment. However not that a hike may not occur, this could be the start of the slide for sterling against the pound. Furthermore with trade negotiations set to start in the upcoming months now is the time to buy pounds in my opinion.

For further information in regards to GBPEUR currency transfers feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with my forecast and the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

Will GBPEUR go even higher?

The pound to Euro exchange rate is now touching the best rates since May 2017 which easily begs the question can this continue? GBPEUR has touched 1.16 in what has been a very positive few weeks for the pound and some uncertainty for the Euro as investors look to the Bank of England poised to raise interest rates, whilst investors brace themselves for the ECB, European Central Bank to be less positive.

The next big piece of news tomorrow morning is Inflation data which is released at 09.30 am and this will provide further evidence on just how the UK economy is performing and whether we can expect the Bank of England to be looking to raise interest rates or not in May. To many, it seems foregone conclusion and this has helped the pound to rise to the levels that we have seen.

GBPEUR faces some more challenges next week with the latest UK economic growth data which will be the first estimate for Q1 for the UK, the snow is likely to have affected the UK economy and hence growth could be lower. Subdued growth for the UK is absolutely a concern which could derail further interest rate hikes, there is also an important ECB policy meeting next Thursday which could trigger some volatility in the markets.

If you have a transfer buying or selling the pound against the Euro then making plans in this turbulent time is very sensible to try and gauge the expected outcomes, if you wish to run through or discuss any transactions please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you and assisting with any transfers.

 

Sterling to Euro rate now sitting comfortably above 1.15, is a move closer to 1.20 now likely?

Yesterday GBP/EUR broke through 1.15 once again, although this time the pair have consolidated above this previous resistance level meaning that the pair are now trading in new territory.

Since the transitional agreement was agreed between the UK and EU negotiators sentiment surrounding the UK economy moving forward has improved, and this is behind much of the Pound’s recent gains. The Euro has also been coming under pressure as inflation levels within Europe aren’t quite as high as the ECB had hoped before cutting back on its asset purchasing program. Global concerns surrounding tensions in Syria and potential clash between the US and Russia are also impacting the Euros value due to the effects on the regions economy.

The interest rate hike next month is now almost a certainty and talk of whether the BoE will raise interest rates later in the year is now beginning to impact the rates, so if you’re planning on making a transfer soon do bear this in mind.

As the year continues I would expect Brexit related news to continue to impact the Pound’s value. The final Brexit agreement needs to be approved by the European Council and across all parliaments in the EU before it becomes official so I expect to see this topic continue to carry potential to move GBP exchange rates quite drastically.

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.

Which data releases could influence the GBP/EUR rate this week? (Joseph Wright)

The Pound to Euro exchange rate has so far managed to hold onto its recent gains and remain trading above the 1.14 mark. This suggests to me that market sentiment surrounding the Pound has improved as previously this was the top end of the current trend and GBP/EUR would usually struggle to hold its ground at these levels.

The pair did reach 1.15 at one stage recently after news broke that the Brexit transitional deal had been arranged, much to the joys of the financial markets. This matter had been a concern previously and limited the upside for the Pound, so understandably Sterling spiked upward in the wake of the news.

Sterling has also been boosted after the Bank of England has hinted at raising interest rates in May of this year, meaning that the monetary policy of the BoE is likely to be more aggressive than many had initially expected. The pick up in wage growth has also increased these chances as wage growth begins to align with the increasing inflation levels.

Later this week there will be PMI releases covering a number of sectors within the UK, all of which are expected to show slowdowns. If you have an upcoming currency requirement involving the GBP/EUR pair, it may be wise looking into the current trade levels in case the PMI releases are worse than expected. They offer us forward looking insight into market sentiments so a gloomy outlook could result in a weaker Pound.

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 GBPEUR hit 1.15 again?

The pound to Euro rate hit 1.1520 on the highs yesterday as the Bank of England released their latest meeting summary and interest rate decision. The pound spiked up to this level presenting some of the best opportunities to buy Euros since May 2017. Will this level be hit again and what can clients looking to buy Euros with pounds do to capitalise?

The rates move very quickly and to buy at the highs you need to be prepared. This means highlighting your situation to us here so that we can monitor the rates and track levels for you, this might sounds expensive but it isn’t, it is free. We make our money from any trades we do but can offer an exchange rate which we are positive will save you money over other sources of currency.

If you would like to make any kind of comparison I would be more than happy to speak to you to provide some quotes and discuss the forecast for GBPEUR longer-term.Whilst the positive news from the Bank of England bodes well for the future on GBPEUR the Euro is very strong, the biggest thorn in the side of Euro buyers with pounds is the strong Euro.

To help my clients trade at the higher levels we can offer a Limit order which is an automatic order which will trigger at a pre-determined rate once it is hit. I would suggest an order at 1.15 in the coming weeks may well be hit, if you wish to get an update on the rates please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

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

GBPEUR hits fresh highs!

The pound to Euro rate has risen to some of the highest levels since the May 2017 General Election. This was the last time GBPEUR was trading at the highs we witnessed today, if you have a transfer buying Euros with pounds then making plans around the current market sentiment is a wise move as the enthusiasm over sterling will probably subside quickly.

The pound is doing better against the Euro already on the positive expectations which have been in place for the last few weeks with the best levels now being realised. With the market looking very strong for the pound the prospect for the rate to keep rising higher is probably limited now.

If you have a transfer buying Euros with pounds it is now worth remembering just how fragile positive news can be on the currency markets and how strong the Euro has been in recent weeks. General impressions for the pound against the Euro are also linked to what is happening on the US dollar. The market has been happy to buy up the pounds this week but those sentiments can quickly change next week with more data due.

If you need to buy the Euro with the pound I would consider making plans around the latest news today and considering what your target is. Tomorrow sees the latest UK GDP (Gross Domestic Product) news from the UK, much of the important news has already been released today and this week which might mean a less volatile week.

Nevertheless, it is well worth getting any plans to buy Euros well in place in advance to make sure you don’t miss out on the spikes. 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.

Factors impacting GBPEUR exchange rates

As always Brexit negotiations continue to drive GBPEUR exchange rates and at present GBPEUR has reached a key support level. Over the last 8 weeks every time GBPEUR has reached 1.12 we have seen the pound strengthen against the euro? The question is will this trend continue this month?

Negotiations are on going and UK Prime Minister Theresa May is asking for a bespoke trade deal with the EU, however Michel Barnier keeps reiterating that a bespoke trade deal is another phrase for cherry picking. If the transitional deal is reached this month and trade talks start early next, I expect the pound will make gains against the euro and reach the highs we were experiencing earlier in the year.

Politics in Europe are also having an impact on GPBEUR exchange rates. The good news for the Euros is that Angela Merkal has secured her position as Chancellor of Germany. However with a hung parliament in Italy at the moment and far right party 5-Star receiving the most amount of votes, people in Italy are questioning whether they should have a referendum like the UK. This story has the potential to have a considerable impact on euro exchange rates, nevertheless with 5 Star stating they will not work with any other party, it looks like a coalition could be formed by Northern League and Forza Italia.

This week the key data releases to look out for is the ECB’s interest rate decision Thursday afternoon. Interest rates are set to remain on hold, however any hint to the tapering of the quantitative easing program could strengthen the euro. The ECB have showed concern recently that the euro is overvalued due to the devaluation of the US dollar. Therefore I expect the statement by President Mario Draghi to not give to much away and therefore the euro to remain buoyant and against the pound.

For further information in regards to GBPEUR exchange rates feel free to email me with the reason for the transfer (company goods, property purchase) and timescales you are working to and I will respond with the options available to you and the process of using the company I work for drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

Will today’s speech from Theresa May offer the GBP/EUR rate direction? (Joseph Wright)

Today could prove to be a busy day for GBP exchange rates, as the UK’s Prime Minister is scheduled to speak around lunchtime today according to reports with the Brexit being in focus.

Brexit related news and updates are proving to be the biggest mover of GBP exchange rates at the moment, and time is running out for the UK and the EU to come to an arrangement so I don’t expect to see this pattern change anytime soon.

May is expected to focus on a number of topics in today’s speech such as protecting jobs, protecting any deals that are being arranged and ensuring that any deals made benefit both parties.

As we’ve seen recently the relationship between the UK and EU negotiators is quite frosty, and the issues surrounding the Northern Irish border and the customs union appear to be sticking points.

Mark Carney will also be speaking this morning so there could be movement for GBP/EUR for this reason also, especially if there are references to future monetary policy as the global pick up in the economy is likely to result in a more aggressive monetary policy for the Bank of England than previously expected.

If you would like to be updated in the event of a major move for the GBP/EUR rate today, do feel free to register your interest with me.

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.

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 to Euro rate manage to break out of its current trend? (Joseph Wright)

The Pound to Euro exchange rate has been trading within quite a thin range for some time now, as the pair have failed to break out of the 1.12 to 1.1450 trading range significantly for some time now.

Sterling has struggled to rise above the 1.15 mark since June of last year, so those of our readers following the rates hoping for good times to make their transfer should consider that GBP/EUR is still towards the top end of its trend.

In order for our readers to base their trades off of levels in the 1.15’s, they will need to see Sterling improve to levels not seen for some time.

Friday could be the busiest day for GBP/EUR exchange rates this week due to the high volume of data set for release as well as a number of key persons set to speak. It’s day’s such as this that can result in a break out of a long term trend so those planning on making a transfer should consider planning around busy days of economic data. This is something we can help with so do feel free to get in touch if you wish to discuss this further.

There will be construction data released at 9.30am on Friday, and both Theresa May and (UK PM) along with the governor of the Bank of England (Mark Carney) will be speaking so expect any new Brexit breakthroughs to result in movement for the GBP/EUR exchange rate.

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 politics to dictate GBPEUR exchange rates this week

Towards the end of the week, I am expected major volatility for GBPEUR exchange rates and we could see the upper or lower resistance levels tested. GBPEUR exchange rates have been range bound between the high 1.13 and low 1.11s over the last 8 weeks. UK Prime Minister is to hold talks with the full cabinet on Thursday and then will address the UK public on Friday in Newcastle.

Reports are suggesting there is a threat that 15-20 Tory rebel MPs could actually defeat Theresa May and her approach to leave the Custom Union by joining with Jeremy Corbyn. This must be a serious worry for the PM and personally I cannot see it happening, but it just shows how tricky the meeting will be on Thursday. If there is no agreement what can she actually say on Friday that we don’t already know?

This Thursday Theresa May will meet with the full cabinet to discuss Brexit, quite similar to the meeting last Thursday at the Chequers retreat. However Foreign Secretary Boris Johnson has waded in and stated that he will not allow Conservative MPs to ‘water down’ the plan that was agreed at the Chequers meeting last Thursday.

You have to feel for the Prime Minister as it seems she has an impossible task. Half of the country want to remain half want to leave and this seems the case with her Conservative party. Therefore I expect to major volatility with GBPEUR exchange rates towards the end of the week and it could go either way. If you are not willing to gamble on the releases then I would recommend getting in touch today and I will offer you our live buy or sell price.

My direct email address is drl@currencies.co.uk. Typical clients I look after are people that own businesses or people that are buying or selling properties either in the UK or Europe.

 

EU Parliament may provide the UK with privileged single market access following Brexit

Business Insider Report suggests there will be Single Market access for Britain

A recent report has stated that EU parliament is currently compiling a detailed resolution to call for more flexibility in relationship talks with the UK. The EU would like to put forward and negotiate an association agreement which would give Britain privileged market access and EU agency membership.

I am not a 100% on the legitimacy of this report as the market moves on rumour as well as fact and investors are yet to bite or possibly it is not common knowledge. If investors had bitten I would have expected substantial Sterling strength, possibly even breaking the current 1.15 mark on GBP/EUR. If the release does take place this weekend GBP/EUR could be in a very different position on Monday.

This would be a huge change in stance for Chief EU negotiator, Michel Barnier who has put forward a proposal similar to that of Canada’s free trade agreement.

It is uncertain how this would pan out however, considering that the Conservatives wish to be free of all European laws following Brexit.

Inflation and Average Wage Growth concerns

Average Wage Growth came in yesterday and it remained anchored at 1.5%. In order to have a healthy economy inflation and wage growth should be close to parity. This is far from the case at present. Despite this there is an 80% probability of a rate hike by the Bank of England (BOE) in May.

Personally I feel this would be the wrong move considering the fragility of the UK economy at present. Be aware, there is the strong possibility that a rate hike in May is already factored into current market levels. If this is the case do not expect significant Sterling strength should the hike take place. The danger is if it does not occur, I would expect heavy falls in Sterling value if this is the outcome.

During such unpredictable times you need an experienced broker on board if you wish to maximise your return. If you have a pending currency transfer let me know the details of your trade I will endeavor to assist. There is no obligation to trade by asking for my help, I will provide a free trading strategy to suit your individual needs.

If you do wish to try our service you can trade in the knowledge we are a no risk entity, as we do not speculate. Foreign Currency Direct PLC has been in business for over 16yrs and we are registered with the FCA. If you already use a provider I can perform a comparison within minutes and I am confident I will demonstrate a considerable saving. I can be contacted at dcj@currencies.co.uk.

Which direction will GBPEUR take next?

The pound is looking better supported against all currencies and this includes the Euro which it is still nudging some of the better rates in the last 6 months against. If you wish to buy Euros with pounds the good news for sterling is not enough, the Euro is very strong and Euro buyers need some weakness on the part of the Euro get a better rate.

This morning we have the latest UK GDP (Gross Domestic Product) figures which will give us some insight into the pace of growth for the UK economy at present. Overall impressions over the outlook on the GBPEUR rate really are mixed, with both currencies benefiting from improved economic data sets.

Politically, both countries are set on uncertain courses, the UK is struggling with Brexit and many Eurozone countries are feeling political pressures. The biggest concerns stem from the Italian election next weekend, there are a number of far-right and anti-EU and anti-Euro politicians in the running for the top jobs in government.

Despite concerns politically in the Eurozone there are probably greater concerns for the UK with the fears over the worst outlook on Brexit hindering the pound. Whilst sterling is stronger lately as we get some more positive news on what the final deal will be for the UK and the EU, we do still have a long way to go for the pound to really find its feet.

If you need to buy Euros with pounds we are only 2 cents off the best rates to buy since May last year, this is a very good point to note. With GBPEUR looking like it was headed to near parity or one for one, it is very encouraging to see the rates back at this level which whilst compared to overall levels in the last few years are still low, do represent a significant improvement from the lowest points.

If you need to buy or sell Euros and wish for any information on the best timing and appropriate strategies to maximise your deal, please speak to me Jonathan Watson by emailing jmw@currencies.co.uk to get a full overview of the upcoming events and strategy on the best rates of exchange.

 

 

What to expect for GBPEUR exchange rates moving forward?

In recent weeks GBPEUR exchange rates have come under pressure once more due to the developments surrounding Brexit. Head EU negotiator Michel Barnier told the press last week that the transitional talks have broken down and if the UK and EU cannot come to an agreement then the likelihood is there wont be a transition.

No suprises the uncertainty sent the pound tumbling from the 1.14 highs and GBPEUR exchange rates are now floating in the 1.12s. Good news for any client selling euros to buy pounds.

Looking further ahead UK Prime Minister Thersa May is set to address the public on Saturday. This speech will be watched closely by any person involved with the pound and Conservative MPs. It was only last weekend Pro European Conservative MP Anna Soubry warned that MPs could rebel against the PM if she decides to take a hard Brexit approach.

Personally I expect the transitional talks to continue to put pressure on the pound and exchange rates could fall back towards 1.10 in the upcoming 4 weeks. However, I expect the deal will be reached between the UK and EU which will pave the way for trades talks and therefore GBPEUR will improve back to the highs we experience earlier this month. If my predictions materialise then there may be opportunity for both euro buyers and sellers.

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

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

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

 

Where next for GBPEUR exchange rates?

The market is looking more favourable for the pound lately but unfortunately for Euro buyers with sterling, this is not being reflected on the rates with better higher levels. This is because the Euro is stronger too, today we reconfirmed that Eurozone growth numbers have hit the best in a decade.

General expectations are for the pound to continue to perform better, particularly on the likelihood of an interest rate hike in May for the UK. The real question is will it be enough to outperform the expectations on the Euro. Improving economic conditions are linked to the global economy recovering which will see potentially both the UK and Eurozone enjoying better numbers.

Big news left this week is the UK’s Retail Sales figures on Friday which will highlight the performance of consumer behaviour in the UK, this is a key driver on the UK economy and could see some movement on GBPEUR exchange rates. If you are considering a transfer buying or selling the pound against the Euro then the Euro will continue to be an expensive currency to be betting against!

We offer a range of options to secure your currency that will ensure you limit your exposure to these volatile markets which can change suddenly and without warning. Keeping in touch with the latest news is the best way to mitigate the uncertainty, we offer a specialist system to update our clients on the news that will alter their rates.

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.