Tag Archives: Tom Holian

Pound makes gains vs the Euro at the end of the week (Tom Holian)

After experiencing a very difficult last few days the Pound vs the Euro has started to make a fightback vs the Euro during this afternoon’s trading session.

With the Europeans discussing what is happening with the Brexit talks things appear to be going better than previously expected. Indeed, European Council President Donald Tusk has suggested that the deadlock has been exaggerated and that ‘doesn’t mean there is no progress at all.’

Various leaders of the European Union have been involved in a two day summit and Tusk has also stated that he will try to be a ‘positive motivator for the next five or six weeks.’

Clearly the Pound has been suffering for most of the year with the uncertainty caused by the Brexit and the likelihood is that things will continue this way for some time to come. The ‘divorce bill’ which is the cost for the UK to leave the European Union has still yet to be decided and as yet we are still none the wiser.

As we go into the final quarter of the year we could get some progress with the discussions but until we agree a figure I think the talks will stall.

The other topic which is likely to have a big effect on the rate to buy or sell Euros with Pounds is the topic of whether or not the Bank of England will look at raising interest rates on 2nd November. The general expectation is that we will see a rate rise owing to inflation recently hitting 3%.

However, with average earnings lagging behind I think a rate hike could cause problems for the British economy and therefore I would not be surprised to see rates kept on hold and as the market expects a hike this could be to the detriment of Sterling.

Therefore, if you’re looking to buy Euros with Pounds it may be worth taking advantage of today’s short term spike.

If you would like further information or a free quote 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

Brexit Talks, Inflation and European Union Summit – Impact on GBPEUR exchange rates (Tom Holian)

Pound vs Euro exchange rates have remained range bound during today’s trading session in anticipation of what could be a huge day on the currency markets tomorrow.

Both UK inflation and Eurozone inflation is due to be released tomorrow morning and this could cause big movements for GBPEUR exchange rates.

The reason for Sterling’s gains back in September was the rumours that the Bank of England may be considering hiking interest rates and so if inflation comes out high this could cause Sterling strength vs the Euro but if we see inflation falling I expect to see the Pound drop against the single currency as it means the BoE will be less likely to consider raising rates on November 2nd.

UK unemployment figures are due on Wednesday and like with the inflation data this could cause volatility on the markets.

To end the week the European Union will be holding a summit which will include the topic of Brexit and any trade deals that could be proposed between the continent and the UK so overall a busy end to the week for Sterling vs Euro exchange rates.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as I can.

Pound falls against the Euro owing to political uncertainty (Tom Holian)

The Pound has made some very positive gains vs the Euro in September with gains of over 6% during last month against the single currency but Sterling has now started to struggle.

Since the start of this month Sterling has fallen by almost 2% vs the single currency or the difference of £3,500 on a currency transfer of €200,000.

This highlights the importance of being kept up to date with what is happening at the markets by using an experienced currency broker.

There are a few economic data releases due out on Tuesday morning which are likely to cause a lot of volatility for the Pound against the Euro. On Tuesday morning UK Manufacturing & Industrial production data is due as well as the latest set of UK Trade Balance data.

The Pound was listed as the best performing global currency in September so we could see a fall in demand for British exports during last month and I think this could be reflected in a lower than expected UK Trade Balance.

There are problems ahead for the UK with the political situation still under a lot of pressure.  Former Tory Party Chairman Grant Shapps has suggested this week that there are  approximately 30 MPs who are in favour of holding a leadership election.

Since April when the conservatives lost their majority and had to form a coalition there has been a feeling that many are gearing up for a change in the Prime Minister.

Therefore, I think we could see a very difficult week ahead for the Pound vs the Euro.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as I can.

Will the Pound improve against the Euro in October? (Tom Holian)

The Pound vs the Euro has had a very strong month in September with a number of positive economic data releases.

From the low to the high we have seen almost 6% movement between Pound and Euro which is the difference of £5,500 on a currency transfer of €100,000 highlighting the importance of timing when making a currency transfer.

As we go into October we have on Monday the release of UK Manufacturing data closely followed by Eurozone unemployment data.

UK manufacturing data has been performing well during the last few months with orders from Europe having increased owing to the weakness of Sterling and this is why I expect the data on Monday to be positive for the UK.

Therefore, I think we could see a positive start to the week for the Pound vs the Euro.

However, clearly next month the GBPEUR exchange rate will be affected by the ongoing Brexit talks so depending how these go this is likely to be one the main influences of Sterling over the next few weeks.

At the moment the key issues are that of citizen rights across Europe as well as the ‘divorce bill’ and various trade agreements.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Pound makes small gains vs the Euro after the German Election (Tom Holian)

The Pound vs the Euro has made some small gains since the weekend after the German general election results were announced.

With Chancellor Angela Merkel winning again although this did not come as a surprise the win was not by as much as expected, which has led to the Euro weakening marginally against the Pound.

I think the biggest movement for GBPEUR exchange rates is likely to come on Wednesday when the latest set of UK GDP figures are due to be released.

The Bank of England recently announced that recent UK economic growth has been much better than expected so if we see the figures come out strong on Wednesday then in my opinion I think we could see the Pound making gains vs the single currency providing anyone with a requirement to buy Euros with a good window of opportunity.

However, the subject of Brexit continues to weigh heavily on Sterling exchange rates and until we get some form of clearer resolution I think the Pound will continue to struggle.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

 

Will Theresa May help the Pound make gains vs the Euro? (Tom Holian)

Sterling has continued to make gains vs the Euro after last week’s very positive movement for Sterling exchange rates which saw them hit the best rate to buy Euros with Pounds since early July.

UK Retail Sales data came out this week better than expected which has also helped the Pound to maintain its gains vs the single currency.

With Theresa May due to speak in Florence tomorrow to outline her vision of a post-Brexit Britain we could see a lot of movement for GBPEUR exchange rates over the next 24 hours so it is very important that you’re prepared for the movement.

Then over the weekend the Germans go to the polls to vote in the latest general election.

The expectation is for Angela Merkel to win again which will be the fourth time that she leads the country and typically when the existing party stays in power this often results in Euro strength.

Therefore, depending what happens with Theresa May’s speech I think we could see GBPEUR exchange rates fall early next week once we know the election result.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Pound hits 2 month high against the Euro following Bank of England meeting (Tom Holian)

Sterling Euro exchange rates are now trading at their highest level since July after the Bank of England claimed that they may be considering raising interest rates earlier than markets currently expect.

Bank of England governor Mark Carney said that he was pleased with UK economic growth which has been positive in recent months and combined with record low levels of UK unemployment this could be a justification for raising interest rates.

Inflation continues to run high after hitting 2.9% during August which is the highest in 5 years and this also helped the Pound to make gains vs the Euro.

Indeed, rumours are that the Bank of England may be considering raising interest rates early next year compared to the previous expectation of 2019.

However, I don’t think we see a rate hike coming anytime soon so I think this was just posturing in order to help the Pound make gains.

On Friday next week Prime Minister Theresa May will be in Florence to set out her vision of post-Brexit Britain in which she will talk about the UK ‘leaving the EU but not leaving Europe.

This could potentially cause a lot of movement for GBPEUR exchange rates so keep a close eye out for what may happen to rates at the end of next week.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Will the Pound continue to make gains vs the Euro and the Bank of England (Tom Holian)

The Pound has hit its best level to buy Euros since early August as the UK has announced two positive things this week.

Early on Tuesday morning the EU Repeal Bill was approved by every single Conservative member which showed that Theresa May is now moving closer towards a ‘strong and stable government.’

We also had UK inflation which came out at 2.9% hitting a 5 year high which has led to the Pound making gains against the single currency.

With inflation rising this will put a bit of pressure on the Bank of England to think about what to do with interest rates going forward.

The expectation is for rates to go up in 2019 so with a meeting today any talk of a rate hike being brought forward could see the Pound rising against the Euro later on today.

With Germany set to go to the polls in the next two weeks we could see a bit of volatility coming for GBPEUR rates but if Merkel wins again which appears very likely this could see the Euro fight back.

Therefore, if you’re thinking about buying Euros it may be worth getting this organised in the next fortnight.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

 

Sterling Euro Exchange Rate Forecast (Tom Holian)

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

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

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

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

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

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

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

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

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

 

When will the European Central Bank taper their QE Programme? (Tom Holian)

The Pound has seen some small gains during this week but I fully expect GBPEUR exchange rates to experience a huge amount of volatility later on today.

The European Central Bank are due to meet at 1245pm today and ECB president Mario Draghi is due to address the markets later this afternoon.

There has been much talk of the current QE programme and when the ECB may start to taper the programme.

The likelihood is that the tapering will commence later in the year in perhaps December so any absence of when this may take place could see the Pound make gains.

However, if Draghi does look to announce or at least suggest when QE may start this could cause the single currency to dramatically strengthen against the Pound.

Overall the market for GBPEUR exchange rates is likely to continue to be dominated by the Brexit talks and today’s ‘Great Repeal Bill’ will be hotly debated in the House of Commons later today.

The uncertainty and the ambiguity over the costs of Brexit and what Brexit actually means has caused Sterling to experience real problems lately and in the short to medium term I cannot see the Pound making any real gains vs the Euro.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Could Brexit send Sterling lower against the Euro? (Tom Holian)

The fears caused by the Brexit talks continue to weigh heavily on the Pound vs the Euro which is now trading at its lowest level to buy Euros with Pounds for 8 years.

The previous time the GBPEUR rates were lower than they are at the moment was back in 2008 during the credit crunch era when Sterling crashed against all major currencies including the Euro.

A lot of the large banks have been predicting that the Pound could hit parity vs the Euro and at the moment I am finding it difficult to work out how the Pound will be able to recover against the Euro whilst the uncertainty surrounding Brexit continues.

Indeed, the Euro has been trading at 18 month highs against the US Dollar as the suggestion is that the European Central Bank may look at tapering their current Quantitative Easing programme which could see further strength for the Euro vs the Pound.

In the short term we may see some small spike for Sterling owing to profit taking but medium to longer term could see GBPEUR rates lower than current levels.

 

A lot of my clients have been using a forward contract which allows you to secure an exchange rate for a future date for a small deposit and this has worked out very well for many of my Euro buyers over the last few weeks.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

 

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

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

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

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

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

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

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

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

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Euro at 10 month high against the Pound (Tom Holian)

Pound Euro exchange rates have continued to fall this week hitting support levels of 1.10 earlier this afternoon.

The Pound is really struggling caused by the uncertainty of Brexit and the recent downgrading of the UK’s growth forecast for both this year and next.

Earlier on today French Trade Balance came out much better than expected as did their Export figures which further highlighted the strength of the economy in the Eurozone.

Indeed, the Euro is now trading at its best level in almost 18 months against the US Dollar which is good news for anyone holding Euros at the moment.

If you’re in the process of selling a property in Europe but have not yet completed it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

This involves paying a small deposit and the remaining balance at a date that works for you. This means you know exactly how much Sterling you will get when the property completes and can be especially useful if you’re concerned as to what may happen to GBPEUR exchange rates in the weeks ahead.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

 

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

The Pound has crashed against the Euro during yesterday’s trading session after the Bank of England confirmed that interest rates will remain on hold for the 11th month running. The split this time round was 6-2 which was lower than June’s vote which was 5-3.

One of the members of the Monetary Policy Committee Kristin Forbes has left since the previous meeting and the incoming Silvana Tenreyo was unlikely to have caused a surprise.

The Bank of England have also downgraded the UK’s growth forecast for this year from 1.9% to 1.7% as well as cutting next year’s growth forecast from 1.7% to 1.6%.

This has led the Pound to fall against the Euro to its lowest rate since October 2016 and this is largely part to the Brexit discount currently on offer.

Bank of England governor Mark Carney has spoken out about the uncertainty caused by the Brexit and this is causing a lack of investment in the UK until a resolution is reached which is likely to take a long time.

One good thing for the British economy is that UK inflation appears to be falling at the moment from 2.9% to 2.6% but for the Pound this is not good news as it provides further support to keep interest rates low for a long period of time.

If you’re in the process of selling a property in Europe and would like to take advantage of these current low exchange rates to buy Pounds then feel free to get in touch.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Will the Pound recover against the Euro? (Tom Holian)

The Pound is now at is lowest rate to buy the Euro since November and the problems for the Pound do not appear to be reducing anytime soon. The fears of the Brexit affecting the economy are appearing to be realised which is resulting in the Pound falling against the single currency.

The negotiations have been going on for a few weeks now and so far little progression has been made. There has been no decision as to whether the UK will opt for a softer or a hard Brexit and until this is resolved I think the Pound will remain under huge pressure for a long time to come.

The first estimate of UK GDP for the second quarter was published on Wednesday and although it came out as expected with 1.7% year on year this did little to support Sterling. Indeed, the Pound vs the Euro fell to its lowest level at the end of the week since last autumn.

Next week the Eurozone releases inflation on Monday morning as well as the latest set of unemployment data. If both announcements come out positively then I think we could see further losses for GBPEUR rates to come going into August.

EURUSD exchange rates are now trading at their highest rate since the start of 2015 and it is becoming clearer that not only is the Pound weak against the single currency but the Euro is also very strong against a lot of other currencies at the moment.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Further losses for the Pound this week? (Tom Holian)

The Pound vs Euro is now at its lowest level since last autumn as economic and political woes continue to increase in the UK.

UK Inflation has started to fall which in a way is a good thing but this has caused the Bank of England to rethink any attempt to look at raising interest rates in the near future.

Meanwhile across the water on the continent the European Central Bank have suggested that they may be looking at tapering their current QE programme.

The Eurozone is performing very well recently and this has led the Euro to hitting its best level to buy US Dollars in over a year which highlights how strong the single currency is compared to other currencies as well.

UK GDP for the second quarter is due for release on Wednesday and as this period covers both the general election as well as the start of the Brexit talks I think this could be lower than the expectation of 1.7% and in my opinion I think we’ll see losses for the Pound vs the single currency on Wednesday.

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

 

Brexit Repeal Bill due today and the impact on Sterling Euro rates (Tom Holian)

The UK will announce today their plans for the Repeal Bill which essentially means that the UK will apply the same laws in the UK before the Brexit vote whilst giving power to parliament in order for them to be able to change them at a later date.

There is already a lot of disagreement between the various political parties but the plan is not due to be debated until later this year but will need to be put in place by the time the UK is due to leave the European Union which will come in March 2019.

This has yet to cause too many problems for the Pound vs the Euro but it does demonstrate how much uncertainty there is politically at the moment in the UK.

Brexit Secretary David Davis has said ‘the eyes of the country are on us and I will work with anyone to achieve this goal and shape a new future for our country.’

This appears as though Davis is willing to listen to ideas from various parties in the interests of the country but I think this could cause real problems for the British economy as clearly the political parties in this country have very different priorities and agendas.

We end the week with Eurozone Trade Balance for May which has been very positive recently so expect volatility for GBPEUR exchange rates towards the end of the week.

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

If you have a currency transfer to make whether it’s 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 

UK Inflation to set the tone for Pound Euro exchange rates (Tom Holian)

We begin the morning with UK construction data due out at 930am with expectations of a possible fall but the real movement for Pound vs the Euro exchange rate is likely to come with the latest set of Inflation Report Hearings due out this morning.

UK inflation has been rising recently to the level of 2.9% compared to the target level of 2%. Bank of England Governor Mark Carney is likely to be questioned and any suggestion that interest rates may be coming back on the agenda could lead to some movement for the Pound vs the Euro.

Indeed, this could see the Pound making some gains vs the single currency if there is any hint that an interest rate hike may be coming sooner than expected.

Tomorrow sees the latest release of PMI Services sector data for the UK and as this sector makes up such a huge amount of our overall GDP this could cause volatility for GBPEUR exchange rates.

On Thursday arguably one of the biggest data releases of the week is the latest NIESR GDP estimate. Although this is not the official data it is very up to date as it measures the last three months of the UK’s performance.

This could be the biggest market mover of the week so if you’re in the process of thinking about buying currency in the near future keep a close eye on what happens on Thursday morning immediately after the data release.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident of being able to save you money on exchange rates compared to using your own bank. 

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

Tom Holian teh@currencies.co.uk

 

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