Tag Archives: Tom Holian

Tories and the DUP form an alliance and the impact on Sterling Euro rates (Tom Holian)

After much deliberating the Tories and the Democratic Unionist Party have finally formed an alliance which allows the Tories to operate as a majority government.

This has done little to affect GBPEUR exchange rates and it could be argued that it was priced in. With only days to go before the Queen’s Speech is voted on it will now be approved in the House of Commons unless we see a big surprise.

This could help the Pound make some small gains but the real issue surrounding the UK economy is that of Brexit and we are just one week in to the discussions so far. Theresa May has set out her proposal for EU citizens living in the UK post-Brexit and has announced plans to put their ‘anxiety at rest.’

Theresa May also wants to provide assurances to those not only living in the UK but wants to aim for reciprocal rights for those living in Europe.

The good news is that if you’re in the process of looking at selling Euros to buy Pounds the uncertainty that is being caused by the Brexit talks is causing the Pound vs Euro rate to fall to its lowest level seen since November.

Therefore, if you’re selling Euros it may be worth taking advantage of this uncertain period for the UK economy. Call me directly for a free quote or to compare rates on 01494-787478.

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

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

Tom Holian teh@currencies.co.uk

 

 

Brexit talks and the impact on Pound Euro exchange rates (Tom Holian)

We are now a year on since the Brexit vote when the British public voted to leave the European Union and during this time we have seen huge losses for the Pound against the Euro.

As yet we are no clearer as to whether the UK will opt for a soft or a hard Brexit. Clearly in the interests of the UK and the Pound a soft Brexit would be preferred but this could take a very long time from coming to fruition.

Yesterday, Theresa May was in Brussels speaking about the subject of Brexit and she has suggested that the UK will maintain the rights of EU nationals living in the UK of which there are over 3 million.

The issue though is that the EU has not yet discussed a reciprocal arrangement and that is why the Pound has had a difficult end to the week.

As yet the Tories have still yet to from an alliance with the DUP which is necessary in order to form a majority government.

I think we are only a few days from this happening and when it does take place I expect the Pound to rise against the Euro but I think the gains will be short lived so if you need to buy Euros keep a close eye on the political situation in the UK.

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. I have worked for one of the UK’s leading currency brokers since 2003 and I’m confident of being able to offer you better rates when buying currency as well as helping you with various contract types.

Tom Holian teh@currencies.co.uk

Brexit talks begin and the impact for Pound Euro exchange rates (Tom Holian)

The Brexit negotiations have now finally begun after the triggering of Article 50 many weeks ago. We are also almost one year on from the vote to leave the European Union which caused the Pound to plummet by almost 15 cents and as yet it is still not clear whether the UK will opt for a hard or a soft Brexit.

As yet the Conservatives have failed to reach an agreement with the DUP but to me this is just a matter of time. The importance of this arrangement could be key to the Brexit talks as the Irish border is clearly an enormous issue so it could be argued that the DUP could be integral for a softer Brexit.

It is going to take months before a clear picture as to how Brexit will pan out but in the short term I would be surprised to see this have any positive effect when it comes to Sterling vs the Euro.

My reasoning is that there are 27 member states that want to keep the European Union together compared to just the UK so for me I think the talks will be rather difficult as well as protracted which surely cannot help the Pound vs the Euro.

Therefore, if you are looking to buy Euros it may be worth organising this in the short term.

 

Having worked in the foreign exchange markets since 2003 for one of the UK’s leading currency brokers I am confident not only of being able to offer you better exchange rates compared to using your own bank but also help you with the timing of your transfer of currency.

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

Tom Holian teh@currencies.co.uk

Will the Brexit negotiations cause problems for the Pound? (Tom Holian)

Sterling against the Euro has been struggling recently owing to what is happening politically and at the time of writing this article the Tories have yet to form an agreement with the DUP. Indeed, when the government had to form a coalition previously it took 20 days to organise.

As we go into next week the Brexit negotiations will start which is almost 12 months to the day since the vote to leave the European Union.

As there is no current majority government there has been no confirmation whether the UK will opt for a hard or a soft Brexit and until this issue is sorted I think the Pound will struggle against the Euro.

We saw a brief recovery in GBPEUR exchange rates on Thursday when the Bank of England confirmed a 5-3 split in favour of keeping interest rates on hold.  This surprise revelation helped to provide the Pound with some small gains vs the single currency but to me I think the gains will be short lived.

Therefore, if you need to send money to Europe it may be worth taking advantage of the current rates. If you don’t have the full amount of money available at the moment it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.

Having worked in the foreign exchange markets since 2003 for one of the UK’s leading currency brokers I am confident not only of being able to offer you better exchange rates compared to using your own bank but also help you with the timing of your transfer of currency.

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

Tom Holian teh@currencies.co.uk

Best rate to sell Euros to buy Pounds since November 2016 (Tom Holian)

The Pound has now dropped to its lowest level to buy Euros since November last year as the political landscape remains uncertain.

Although the Tories managed to succeed as the largest party they did not win enough votes to form a majority government and at the moment talks are continuing between the Conservatives and the DUP in an attempt to conclude the election result.

The Queen’s Speech has been delayed for a few days until things are sorted out with the initial date of June 19th having now been postponed. The speech is one written by the government and outlines its plans for how it will run parliament during its term.

All this news does not bode well for Sterling Euro exchange rates as uncertainty will often cause problems for the currency involved. Previously when the Tories were forced to form a coalition with the Lib Dems back in 2010 it took almost 3 weeks after the election result to have the Queen’s Speech.

I personally think we’ll see further problems ahead for the Pound against the single currency whilst all this uncertainty continues.

The election result may even delay the Brexit talks which were also due to start next week. Until we have some form of agreement then we will be stuck in limbo so I cannot see the Pound making gains vs the Euro in the short term until things settle down.

Having worked for one of the UK’s leading currency brokers for almost 15 years I am confident of being able to offer you better exchange rates than using your own bank when buying or selling Euros as well as offering you a number of different contract options typically unavailable from your high street bank.

For further information or for a free quote when exchanging currency then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

General Election causes Pound to fall against the Euro (Tom Holian)

Sterling vs the Euro has crashed as the election result caused a big shock for the foreign exchange markets. The fall happened immediately after the release of the first exit polls on Thursday night which showed that a hung parliament would be likely with the Tories not being able to form a majority government.

Even when I saw the release of the initial poll owing to what happened during 2016 when the polls were completely wrong in predicting both the Brexit vote as well as the Trump victory I didn’t have too much faith in them being correct.

However, on this occasion the results were almost spot on and we saw the Pound drop into the 1.12 region at one point on Friday morning.

The Tories failed to achieve a majority government and this led to a fall in value of Sterling vs the Euro and at the time of writing the Tories are looking to sort out an agreement with the DUP.

The Pound managed to put a stop to its losses by midday on Friday and with calls for Theresa May to resign this could have caused further uncertainty for Sterling so as she has stayed this helped the Pound to resist falling further vs the single currency.

The next stumbling block for the Pound will come in just over a week’s time with the German Chancellor Angela Merkel suggesting that there is now no reason to delay the Brexit talks.

As we now know who will be leading the country the talks are due to start on June 19th and as we have already seen in the last few months the European leaders are likely to make the talks as difficult as possible in order to discourage other countries from doing the same.

Therefore, I think the Pound could be under further pressure this month vs all major currencies including the Euro.

If you’re in the process of buying a house in Europe it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.

To find out more or for a free quote when buying or selling Euros compared to using your bank then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Election news causes the Pound to wobble against the Euro (Tom Holian)

The Pound has slipped vs the Euro during Friday’s trading session as the most recent opinion poll has shown that the lead for the Tories over Labour has slipped to just 5%.

Previously the Tories were showing a huge lead over the opposition and this data release has caused a big surprise to the markets and we have seen rates to buy Euros with Pounds drop to their lowest level in months.

With the Tories previously expected to win by a huge majority this has led to the Pound weakening as any change in the voting pattern has caused concerns for investors.

Generally speaking if the existing government wins it provides another term of financial stability for UK businesses and therefore this is why the change in the poll has caused the Pound to suffer against the single currency.

Immediately after Easter when Theresa May called a snap general election this saw GBPEUR exchange rates challenge 1.20 on the Interbank level and although they didn’t reach that rate this was the highest we had seen the Pound get to vs the Euro since the end of 2016.

The Pound has also been weakening owing to rising inflation levels. Typically the Bank of England would look at increasing interest rates to combat high inflation levels but with the amount of QE having been used in recent years I cannot see any change in interest rates coming anytime soon.

Therefore, the central bank is struggling what to do next in terms of controlling inflation and this is causing problems for Sterling exchange rates vs the Euro.

With less than two weeks to go if you would like to make a currency transfer and save money compared to using your own bank then why not contact me for a free quote. I work for one of the UK’s leading currency brokers and have done since 2003 so I’m confident that a quick email could save you a lot of money.

I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Pound continues to fall against the Euro as predicted (Tom Holian)

Pound Euro exchange rates have continued to fall during today’s trading session and this has been the case for almost two weeks now.

There doesn’t appear to be a lot of confidence in Sterling at the moment and the Euro is going from strength to strength.

Not only is the Euro strong vs the Pound but it is also strong vs the US Dollar.

Typically when the Dollar weakens this results in Euro strength and this appears to be the case at the moment.

There is a lot of economic data due out for Europe tomorrow with German GDP data for the first quarter as well as manufacturing data.

As Germany is the leading economy in Europe if the economic data is strong in the morning expect GBPEUR exchange rates to fall.

Turning the focus to the UK, inflation has been one of the main culprits for Sterling’s recent demise vs the Euro. The Inflation Report Hearings are due out at 11am and if they highlight the ongoing problem then I expect to see the Pound fall even further against the single currency.

With just over a fortnight to go before the UK’s general election then we could see further volatility ahead so if you want to avoid the risk of the market moving against you then it may be worth looking at buying a forward contract which allows you to secure an exchange rate for a future date.

If you would like further information or a free quote when buying or selling Euros compared to using your own bank then contact me directly and I look forward to hearing from you.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as helping you with the timing of your trade.

Tom Holian teh@currencies.co.uk

 

Could the Pound fall further against the Euro? (Tom Holian)

Pound Euro exchange rates have had a difficult last fortnight with a loss of over 3 cents. The problem that the British economy appears to be facing at the moment is that of rising inflation.

This was confirmed in both the Quarterly Inflation Report as well as the Consumer Price Index which came out earlier this week.

Rising inflation is a problem for the UK and part of this has been caused by the strength of the US Dollar. As we import so much from overseas and GBPUSD exchange rates have fallen by approximately 15% since last year when the Brexit vote was held the cost of living is rising.

Indeed, unemployment which came out at its best level in 45 years should have in theory strengthened Sterling vs the single currency but as Average Earnings came out lower than the current rate of inflation this means that although more people are in work their spending power has been reduced.

Increasing inflation would usually be tackled by the Bank of England with an interest rate hike but the central bank has a problem in that Quantitative Easing seems to be the monetary policy used in recent years. The Bank of England voted earlier this month to keep rates on hold with only one member voting for an interest rate hike.

Therefore, I think we will see the Pound struggle against the Euro until the issue of inflation is tackled or it comes down by itself.

With less than 3 weeks to go another question that I am frequently being asked is what will happen to the value of the Pound once the general election takes place.

Usually we would see the Pound strengthen if the existing government maintains the status quo but I think this time round as it is so obvious that the Tories will win I think this has already been priced in to GBEUR exchange rates.

If you would like further information or for 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

 

 

Economic data to set the tone for Pound vs Euro exchange rates this week (Tom Holian)

The Pound has continued to drift down vs the Euro during today’s trading session as the markets are still digesting the news from the back end of last week.

However, the market has remained relatively quiet today in anticipation of another big day in terms of economic data tomorrow and Wednesday.

Although we saw the news from the latest Quarterly Inflation Report on Thursday all eyes will be on tomorrow morning’s Consumer Price Index due at 930am. The expectation is for 2.6% which is higher than the Bank of England’s target of 2% so anything different could cause some volatility for GBPEUR exchange rates.

Closely following the UK’s inflation data the Eurozone will release GDP data for the first quarter of 2017. The expectation is for growth of 1.7% year on year and with the German economy performing well in recent weeks I would not be surprised to see a positive announcement for the Eurozone and if this takes place we could see the Pound lose ground vs the Euro during tomorrow’s trading session.

On Wednesday UK unemployment data is due and although unemployment figures have been getting lower here in the UK the real problem is that of Average Earnings which have started to slow recently.

In layman’s terms this means that although there are more people in work their spending power is reduced and generally speaking this tends to weaken the currency involved.

Therefore, I think over the next two days Sterling will face a difficult period vs the Euro.

If you would like further information or for a free quote when buying or selling Euros compared to using your own bank then contact me directly and I look forward to hearing from you.

Working for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as being able to offer you different types of contracts including forward contracts which allows you to fix an exchange rate for a future date.

Email me below.

Tom Holian teh@currencies.co.uk

 

Has Sterling’s rally vs the Euro come to an end? (Tom Holian)

The UK published a number of lower than expected economic data releases on Thursday which caused the Pound to hit a one week low vs the Euro.

The Pound has had a very good run in recent weeks but the combination of poor Industrial & Manufacturing data caused the Pound to fall vs the single currency.

The UK’s Trade Deficit figures came out at £13.4bn and this is not a good thing for the British economy and in particular the Pound vs the Euro.

Whilst the Bank of England kept interest rates on hold the governor of the central bank Mark Carney cut the UK’s growth forecast from 2% to 1.9% and this led to investor confidence waning in the UK and as such the Pound fell against the Euro.

Inflation has been predicted to rise to 2.8% whilst average earnings are predicted to fall to just 2% which effectively means that the cost of living is going up whilst wages are falling.

German economic data out this morning showed an improvement in GDP compared to the first quarter from 0.4% to 0.6% and this helped the Euro to end the week on a high vs the Pound which has provided some good opportunities to sell Euros to buy Sterling compared to recent times.

We ended this week with US Retail Sales falling in April and typically when we see Dollar weakness this results in Euro strength which has been evident this afternoon.

As we go into next week the focus is likely to return to the UK’s political landscape and with the Tories looking like they will win without any significant challenge could this provide the Pound with a recovery against the Euro?

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rtes compared to using your own bank .

Therefore, if you would like further information or a free quote when buying or selling currency then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Will the Pound continue to go up against the Euro? (Tom Holian)

The Pound has made gains during April and I expect the Pound to continue to rise in the next few days against the Euro as the second round of French elections are due to take place on 7th May.

The two candidates include the controversial character Marine Le Pen who has pledged to remove France from the European Union as well as bring back the French Franc.

With the risk to the stability of France and its relationship with the European Union if Le Pen gets in this could send GBPEUR exchange rates flying in an upwards direction quickly. However, the outcome if more likely that Emmanuel Macron will win and this could cause the Euro to strengthen vs the Pound.

With the voting due to take place next week this is the reason why I expect the Pound to continue to make gains vs the single currency and we could even see GBPEUR rates hit 1.20 by this time next week if the voting gets close.

Following the French election the focus will then return back to what is happening politically in the UK with the election due to take place on June 8th. At the moment it looks likely that Theresa May will win convincingly and this is why the Pound has had a good run since the announcement of a snap election. However, as we saw last year with the Brexit vote and Trump winning it is not a certainty so we could see a volatile period for the Pound in the weeks ahead.

If you would like a free quote when buying or selling Euros or simply more information about how I can save you money compared to using your bank or another currency broker then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

French election news strengthens the Euro vs the Pound (Tom Holian)

Sterling vs Euro exchange rates have fallen from their recent high reached five months ago after the UK announced a snap general election last week.

This gave the Pound a much needed boost vs the Euro but the gains have been short lived as the French elections announced their first round of results over the weekend.

The French public have voted for two candidates who will now go head to head in the next round which is due to take place on May 7th. The likelihood is that Emmanuel Macron will defeat the more controversial National Front leader Marine Le Pen.

This has led to the single currency recovering from its losses from the end of last week and the reason for the improvement in EURGBP exchange rates during today.

On Thursday there are a number of data releases likely to affect GBPEUR exchange rates with Services data from the Eurozone alongside a Business Climate indicator survey.

This will be followed by the latest European Central Bank decision due out and the subsequent statement released by ECB president Mario Draghi.

Having worked in the foreign exchange industryfor one of the UK’s leading currency brokers since 2003 I am confident not only of offering you bank beating exchange rates but also help you with the timing of your trade,

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

 

Pound Euro exchange rates on the rise (Tom Holian)

Pound vs Euro exchange rates have continued to improve since the formal announcement that Brexit talks can begin and we are now at the best rate to buy Euros with Sterling in over 6 weeks. The French elections are due to start in the next fortnight and at the moment the polls are showing quite mixed reports in Europe.

The controversial character and leader of the National Front Marine Le Pen appears to be looking like one of the favourites to get through the first round of voting which takes place on 23rd April.

However, the likelihood is that Emmanuel Macron will end up winning the final round which takes place on May 7th.

The problem for the single currency is that once the elections begin this is likely to cause a lot of volatility for Sterling vs the Euro and in my opinion I think we could see problems for the Euro and this could even result in GBPEUR rates hitting 1.20.

Therefore, if you need to buy Euros it would be worth your while paying close attention to what will happen once the voting in France takes place.

As we enter the Easter break the markets will be still be moving globally so if you’re based in the UK you may wish to contact me at some point today if you have a currency purchase to make in the next week.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency providers I am confident of being able to offer you better rates of exchange than using your own bank.

If you have a currency transfer to make and would like to save money on exchange rates then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Pound falls against the Euro owing to poor economic data (Tom Holian)

The Pound has ended the week falling against the Euro after the UK posted worse than expected economic data.

UK Industrial & Manufacturing data both fell in March and this led to the Pound falling from close to a 1 month high earlier in the week vs the Euro to 1.1.6 during today’s trading session.

After the triggering of Article 50 last week the focus has now turned back to the economic data both here and the Eurozone and owing to the lacklustre data the Pound fell vs the single currency.

We also saw the release of the latest three month’s worth of UK GDP data published by the NIESR.

The figure was 0.5% for the quarter which although is still relatively strong it didn’t give the markets the boost they were perhaps looking for.

Moving the focus towards next week UK inflation data will come out on Tuesday morning.

Inflation has been rising recently in the UK and the previous month’s MPC meeting minutes showed that one of the 9 members actually voted for an interest rate hike.

Therefore, if inflation shows another increase on Tuesday it could provide support to last month’s vote and we could see a slow shift in favour of raising interest rates in the UK sooner than some have predicted.

Therefore, if you’re considering making a currency purchase between Sterling and Euro then Tuesday could cause some big movements depending on the data release.

If you would like a free quote when buying or selling Euros compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Having worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates.

Email me with details of your enquiry.

Tom Holian teh@currencies.co.uk 

Could the Pound hit 1.20 this month? (Tom Holian)

With the trigger of Article 50 now one week behind us the focus is now returning back to the economic data in both the UK and the Eurozone.

The Pound has seen some small gains since last week touching 1.17 on the Interbank level during today’s trading session and the Pound has been creeping up against a lot of other currencies during the course of this week.

We are now less than 3 weeks away from the French elections which are likely to cause problems for the Euro as the controversial politician Marine Le Pen looks as though she will get through the first round of voting due to take place on 23rd April.

However, although she is very likely to get through the first round the likelihood is that she will be defeated when the second and final round takes place on 7th May.

However, as we have already seen with the Brexit vote and the Trump win during 2016 there appears to be a voice for change so anything is possible when it comes to politics.

If we see a surprise win for Le Pen this could send GBPEUR rates in an upward direction very quickly but personally I would be amazed to see her win the elections next month.

In the short term the UK releases the latest set of GDP figures for the last three months when the NIESR confirms the data on Friday. I think this could be rather positive for the UK as Retail Sales released recently showed a big jump and as Retail Sales are a big part of the British economy I think this could result in some positive GDP figures.

Therefore, if you’re in the process of buying Euros with Pounds then the end of the week could potentially provide a better opportunity.

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 and I look forward to hearing form you.

Tom Holian teh@currencies.co.uk

 

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

 

Article 50 triggered so what next for Pound to Euro rates? (Tom Holian)

With Article 50 now having been triggered we have not seen some of the volatility on Pound Euro exchange rates that many were expecting.

The event itself left markets with little to move on and so the foreign exchange markets as well as global stock markets remained relatively flat.

The UK has now formally triggered Article 50 of the Lisbon treaty and as we have officially started the Brexit process we have now passed the point of no return.

Prime Minister Theresa May went on to try and reassure markets that the UK will be looking for the best possible deal for the UK and she is hoping to make ‘close ties’ with Europe.

I think the speech gave some reassurance to Sterling but as the trigger was expected to happen Pound to Euro rates did not see much movement.

Therefore, the focus will once again turn back to economic data.

Eurozone Consumer Confidence data is due out shortly and this is likely to impact Sterling Euro rates.

Tomorrow we could see a big day for the short term trend for Pound Euro exchange rates with a number of different data releases due to come.

On Friday UK GDP data is due out at 930am followed by Eurozone Consumer Price Index at 10am so expect to see big swings on GBPEUR exchange rates during Friday morning as both data releases are expected to be positive for both sides

Having worked in the foreign exchange industry for one of the UK’s leading currency brokers I am confident that I can offer you bank beating exchange rates. 

If you have a currency transfer to make and would like a free quote when either buying or selling Euros then email me directly with your particular requirement and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Article 50 and the expectations for Pound to Euro rates (Tom Holian)

Pound to Euro exchange rates have once again started to fall as we are now just days away from Article 50 being triggered.

There are many mixed opinions about what may happen to the value of Pound Sterling Euro rates once the official announcement has been made and my personal opinion is that this could be problematic for the Pound.

Although it could be argued that Article 50 has already been priced in to GBPEUR rates I cannot foresee any gains for the Pound as surely the announcement will be looked at negatively by Europe and therefore I’ll think we’ll see the Pound fall vs the Euro.

UK Retail Sales released yesterday came out much better than expected and although the Pound rose immediately after the data release the gains were short lived as the focus returns to what will happen to Sterling Euro exchange rates once Article 50 has been triggered.

I think we could see EU leaders focusing on the recent bad economic data in the UK and they may look to make an example of the deterioration in the UK economy to highlight the importance of staying in the European Union.

Sterling has got close to a 4 week high recently but I think this is short lived and simply the calm before the storm.

There is little economic data coming out during the early part of next week so it will be political influences that will cause the Pound Euro rate to move.

If you’re concerned about the impact of what may happen once Article 50 is triggered then it may be worth organising your transfer prior to Wednesday to avoid any potential risks to GBPEUR exchange rates.

Working for 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 transfer of Euros.

For further information or for 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

 

 

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