Tag Archives: Tom Holian

Italian Politics and a positive end to the week for the Pound

It appears as though Italian politics are causing the Euro a problem as the Pound has shown signs of improvement and even EURUSD exchange rates are close to their lowest levels in months.

Both the Italian parties the 5 Star Movement and Lega have both proposed plans to leave the EU in the future and this is clearly a cause for concern.

They have also suggested that they will look to increase pensions for older Italians as well as considering a plan to create an amnesty for some tax offenders in Italy.

Recently European Central Bank President Mario Draghi suggested that political tensions could cause problems for the Eurozone and therefore the single currency so a change in Italy could potentially cause a ripple effect in the months ahead.

Yesterday, the Eurozone announced Construction Output data and this showed a fall which caused the single currency to fall against the Pound providing a good opportunity this week to buy the Euro at its highest level.

Later on this morning the Eurozone will release the latest set of Trade Balance data and this will give us a key insight into how the economy on the continent is performing.

Overall, I think we could see a positive end to the week for anyone looking to buy Euros and I think the GBPEUR exchange rate may even break past 1.15 during today’s trading session.

Having worked for one of the UK’s leading currency companies for 15 years I am able to offer you bank beating exchange rates as well as helping you with the timing of your transfer.

For a free quote then contact me directly by calling 01494787478 and asking for Tom Holian when calling or email me directly with a brief description of your currency requirement and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Bank of England keep rates on hold which causes the Pound to fall against the Euro

The Bank of England confirmed yesterday that they would be keeping interest rates on hold and the vote was split 7-2 in favour of keeping interest rates the same.

The Interbank level fell from 1.1450 to 1.1380 minutes after the announcement as some now feel that an interest rate hike may be a long time away from coming.

UK GDP data which came out a fortnight ago showed growth was at just 0.1% for the first quarter and this was one of the principle reasons for keeping rates on hold and this caused investors to sell off the Pound.

A potential interest rate hike was one of the main factors for Sterling’s strength against the Euro last month but since then the focus will turn back to what is happening with the Brexit talks which are still very uncertain.

ECB President Mario Draghi is due to speak this afternoon so any hints that there may be a change to the current monetary policy could see some volatility for GBPEUR exchange rates.

On Tuesday we are likely to see a very volatile start to the week as there are a number of economic data releases to watch out for.

We begin Tuesday with the release UK unemployment figures and at the same time Average Earnings are also due out. If average earnings show another positive reading then this could provide some support for a rate hike to come in the future and with UK Inflation Report Hearings due out at 11am we could see a lot of movement.

Also on Tuesday Eurozone GDP data is released at 10am so expect Tuesday to be the biggest day of movement for GBPEUR exchange rates.

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

For a free quote then contact me directly by calling 01494787478 and asking for Tom Holian when calling or email me directly with a brief description of your currency requirement and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

What will happen at the ECB meeting today?

The European Central Bank will be meeting later on today to discuss their latest plans for monetary policy. The current QE programme remains at €30bn per month and at the moment the expectation is that this will end towards the end of this year.

I don’t think we’ll see any change to policy this month so all eyes will be focused on the tone of the press conference and whether ECB president Mario Draghi will suggest that any changes may be coming.

Draghi has previously made it quite apparent that he wants to see further signs of growth in inflation before any change to the economic stimulus is made.

The Euro has hit the lowest level against the Pound since May 2017 in the last fortnight after rumours increased that an interest rate hike may be coming in the UK but since then the Pound slightly dropped against the single currency after Bank of England governor Mark Carney suggested that although rate hikes are ‘likely’ his tone was a little dovish.

However, in my opinion I think there is enough evidence to justify a rate hike coming in the UK as average earnings have surpassed inflation for the first time in a long time and unemployment levels are close to the lowest on record.

Therefore, even if we don’t see an interest rate hike on May 10th I think the overall tone will be that there will be one coming soon which could give the Pound a boost against the Euro.

If you’re considering buying Euros then it may be worth seeing what happens later today with the ECB before making your move.

For further information or a free quote when buying currency then contact me directly and I look forward to hearing from you. Having worked for one of the UK’s longest established currency brokers since 2003 I am confident I can save you money on exchange rates.

Tom Holian teh@currencies.co.uk

 

Could the Pound break 1.15 against the Euro? (Tom Holian)

The Pound has been performing well of late against the Euro and has briefly touched 1.15 during March and I expect to see it break past that resistance level during the course of this month.

The EU transitional deal appears to have been agreed and although the Irish border issue still remains unresolved I think we could still see the Pound make further gains against the Euro.

UK Services PMI data is due out at 930am this morning with the expectation for 50.8 so any deviation could cause movement for GBPEUR exchange rates.

Indeed, if the data is positive I think this could see the market break past 1.15 later today.

The political problems in Italy appear to also be holding back the Euro from making any gains vs Sterling. Yesterday, the Eurozone unemployment level dropped to its lowest level in 9 years and with Eurozone inflation rising this could provide support to the European Central Bank to consider ending their QE programme later this year.

In theory this would usually strengthen the single currency but it did not have the expected effect which suggests to me that the political uncertainty in Italy is causing the Euro to wobble.

At the moment the Five Star Movement and the Lega Party have still not yet concluded the talks so Italy remains in a hung parliament which is never a positive for the currency involved.

Having worked in the foreign exchange industry for 15 years I am confident of being able to offer you both bank beating exchange rates as well as helping you with the timing of your currency transfer.

For further information or a free quote then please send me an email detailing your requirement and I can look at proposing a strategy for you when buying or selling Euros.

I look forward to hearing from you

Tom Holian teh@currencies.co.uk

 

Pound close to best rate to buy Euros since May 2017 (Tom Holian)

The latest round of the Brexit talks continued focusing on the Irish border issue which remains uncertain. The transitional deal was agreed last week but the Irish border will be a key topic that is likely to remain ongoing.

With trade talks due later this year many are hoping that the Brexit terms and conditions may be agreed by October but at the moment, in my opinion, that appears very unlikely.

Brexit Secretary David Davis has been rather positive in recent times suggesting that things are looking much better between the UK and the European Union.

The Pound has recently hit 1.15 against the Euro after the Bank of England announced a split of 7-2 in favour of keeping interest rates on hold which shows that there is a growing appetite for a UK interest rate hike coming in the near future.

At the moment there is roughly a 75% chance of an interest rate hike coming in May and this is what caused the Pound to rise to the best rate to buy Euros since May 2017 creating some excellent opportunities to send money to Europe to pay for a foreign property.

However, all is not rosy when we look at the high street in the UK.

Although Retail Sales have been going very well recently the issue appears to be that consumers are buying online rather than purchasing goods in store and this has been reflected in the demise of New Look, Toys R Us and Select.

I think we may see a small rally for GBPEUR rates towards the end of this week which are known as month end flows so it may be worth looking to buying Euros prior to the Easter break.

If you would like a free quote when buying or selling Euros then contact me directly. I work for one of the UK’s leading currency brokers so a quick email could save you a lot of money on the difference when making a currency purchase.

Email me and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Pound Euro Exchange Hits 5 Week High (Tom Holian)

Sterling has hit the best rate to buy Euros in over five weeks after it was announced that the terms of a transitional deal has been agreed.

Brexit Secretary David Davis and EU Chief Negotiator Michel Barnier have agreed the legal text for the transition and this helped the Pound to climb to these recent highs against the single currency providing some excellent opportunities to send money to the continent.

The reason why this has helped the Pound at least for the time being is that it means that we should get some stability during the period between March 2019 and December 2020 as it will mean Britain will continue operating under EU rule during this period.

There is still however the ongoing issue of what will happen with the Irish border issue and until we get some clarity this could continue to weigh on Sterling.

Later this morning UK inflation is due to be released and this could cause a lot of movement for Pound vs Euro exchange rates ahead of the interest rate decision due on Thursday.

At the moment there is approximately a 75% chance of an interest rate hike coming in May so if inflation remains high this could add further support for an interest rate hike to come.

UK Unemployment figures are due out tomorrow morning with Average Earnings published at the same time.

Unemployment levels are close to their lowest level since records began but Average Earnings have been struggling to keep up with inflation.

However, if wage growth increases tomorrow this could also give support for an interest rate hike to the Bank of England so I think we could see GBPEUR exchange rates go in an upwards direction.

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

Tom Holian teh@currencies.co.uk

Pound Euro rates hit 2 week high after Eurozone inflation data (Tom Holian)

The Pound has as of this afternoon hit the best rate to buy Euros all month following the release of lower than expected Eurozone inflation data published early this morning.

Inflation fell to 1.1% year on year compared to the expected 1.2% and this has caused the Euro to weaken against both the Pound and the US Dollar. Inflation has been a very hot topic for central banks recently and the European Central Bank in particular.

Earlier this month the ECB suggested that it would be looking to possibly bring their current QE Programme to an end towards the end of this year so this morning’s fall in inflation may mean that they will continue to pump money into the market and this is why the Euro has fallen to a 2 week low vs the Pound.

As we go into next week there are a number of key announcements that could affect Sterling Euro exchange rates. UK inflation is the first important release with the latest Consumer Price Index for February released on Tuesday morning.

Expectations are for 2.9% which is still above the target of 2% so another high release will put pressure on the Bank of England to increase interest rates in the near future.

Indeed, the latest odds are 75% in favour of an interest rate hike coming in May. Therefore, I think we could see the Pound rising early next week. This will be closely followed by UK unemployment data on Wednesday and the latest Bank of England interest rate decision on Thursday.

We end next week with the EU summit and as this will cover the Brexit topic I think we could see a huge amount of volatility on GBPEUR exchange rates.

Therefore, if you’re considering making a currency transfer in the near future then feel free to contact me directly for a free quote 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.

Email me directly Tom Holian teh@currencies.co.uk

 

 

 

 

 

Spring Statement and the impact on Pound Euro rates (Tom Holian)

Sterling Euro exchange rates have made a positive move during today after a difficult few days last week when GBPEUR exchange rates hit their lowest point to buy Euros in 3 months.

Chancellor Philip Hammond is due to hold the Spring Statement tomorrow and although the main topics will be covered in autumn this could cause some volatility for the Pound vs the Euro during tomorrow’s trading session.

According to some sources the budget deficit for the UK is the smallest in over 15 years with Hammond commenting that ‘there is light at the end of the tunnel.’

The debt is currently 86.5% of GDP and this is clearly higher than the UK government would like so things will need to be done in order to reduce the amount.

There is however a clear risk to what is happening with the latest Brexit talks and with the EU summit due to take place on 22-23 March I think this is really what the currency markets are waiting for.

As yet the transitional period which takes places between March 2019-December 2020 has not yet been formally agreed so things are still very uncertain for what will happen next between the UK and the European Union.

Make sure that if you’ve got a currency transfer looming that you’re prepared for how the market may move during the Spring Statement due at 1130.

For further information about what is happening with Pound Euro exchange rates at the moment and if you need to make currency transfer then contact me directly for a free quote and I look forward to hearing form 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 transfer.

Email me directly Tom Holian teh@currencies.co.uk

Pound Euro Exchange Rates- Factors to influence GBPEUR (Tom Holian)

The Pound has had a very interesting day today against the Euro following the European Central Bank’s latest monetary policy meeting.

European interest rates were kept on hold as expected but ECB President Mario Draghi suggested that we could be seeing an end to the Quantitative Easing policy in the future.

The ECB said that QE may finish by the end of the year which was seen as hawkish and this sent GBPEUR exchange rates to a 3 month low which is great news for anyone looking to sell Euros to buy Sterling.

Indeed, the EURUSD currency pair also hit a 3 week high. However, Draghi was not all positive and this caused a bit of a bounce for the Pound vs the single currency later this afternoon.

As we head into tomorrow morning the UK releases it latest set of Industrial and Manufacturing Production data for January as well as the latest set of Trade Balance figures for the same period.

Depending on how the data comes out this could cause a lot of volatility for Pound vs Euro exchange rates as we end the week.

Later on Friday afternoon the US will announce the latest Non-Farm Payroll data which measures new jobs created in the world’s leading economy outside of the agricultural industry.

Generally speaking if the data is positive in the US this results in US Dollar strength and Euro weakness so if the data provides evidence that the US is doing well this could see GBPEUR exchange rates go in an upwards direction.

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then feel free to contact me for further information or a free quote.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to offer you better exchange rates as well as helping you with the timing of your transfer by keeping you updated.

Email me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Will the Brexit talks go well in March and the impact on GBPEUR exchange rates? (Tom Holian)

The Pound vs Euro has had a strong week so far after the news surrounding Brexit from Europe came out a little more positive than what we have seen recently.

The Pound jumped after rumours circulated that the EU is looking at preparing a document outlining more flexibility with the talks between the UK and the European Union.

With phase 2 of the Brexit negotiations due to start next month this came as welcome news and caused GBPEUR exchange rates to rise to the best rate to buy Euros in two weeks.

David Davis spoke yesterday in Vienna and his tone was also rather upbeat and he later tweeted that the UK will not be ‘plunged into a Mad Max style economy’ post Brexit.’ The tone coming from Europe recently has been a lot more friendly and I think if we have some further breakthroughs during next month the Pound could start to increase against a number of different currencies including vs the Euro.

Later this morning we have a big release for the UK with the latest set of Unemployment data as well as Average Earnings. Unemployment is due to come out to close to its lowest levels since records began over 40 years ago but wage growth is the real concern for the UK and the Pound as it is currently lagging behind inflation.

However, whatever happens with this release is likely to influence what the Bank of England does with monetary policy going forward so I think we could see a lot of movement on GBPEUR rates later on this morning.

If you would like to free quote when buying or selling Euros and would like to save money on exchange rates compared to using your own bank then contact me directly. 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 save you money and help you with the timing of your transfer.

Feel free to email me directly with a brief description of your requirement and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

UK Inflation data causes the Pound to fall against the Euro (Tom Holian)

The Pound has fallen against the Euro since the start of the week which has surprised some analysts after UK inflation data came out higher than expected at 3% in January.

The expectation was for 2.9% for last month so the rise in theory should have strengthened the Pound as it provides further support for an interest rate hike for the UK, which at the moment is 75% priced in for May.

However, one of the key concerns for the UK is that with signs that economic growth may not be as positive as recently suggested this could mean that an interest rate hike may not be coming as soon as some may think.

Looking closer at the inflation figures we have seen oil prices fall since the beginning of the year and as many goods were priced last year when we saw a drop in the value of Sterling this period may be coming to an end so we should expect inflation to start falling soon.

The over-riding factor for the UK is currently the uncertainty surrounding what is currently happening with the topic of Brexit and with phase 2 of the negotiations due to start in March this could cause a lot of volatility for Sterling exchange rates in the weeks ahead.

Tomorrow morning German inflation data is due out as well as Eurozone GDP so expect to see quite a lot of movement for GBPEUR exchange rates in the morning.

If you have a need to make a currency transfer in the near future then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

 

Global Stocks fall leading to movement on Sterling exchange rates (Tom Holian)

Global stock indices have all crashed overnight since owing to the better than expected jobs report last Friday.

As the data was so strong this is likely to lead to the US Federal Reserve increasing interest rates sooner than may expected and this could put an end to the cheap money that has been available for the last few years. Indeed, monetary policy such as Quantitative Easing which has taken place in the UK and the Eurozone has led to stock markets going in an upwards direction.

Typically when interest rates are low then global investors look elsewhere for a strong yield on their money and this is a big reason why stock markets globally have done well hitting recent record highs during January.

Whether or not this fall will be short term only time will tell and as yet the currency market has not been affected too much.

However, I think we could see some big movements coming on exchange rates if the fall in stock markets continue.

Sterling fell against the Euro during yesterday’s trading session following the release of the latest Services Purchasing Manager’s Index data which was released at 930am yesterday morning. With Services making up three quarters of the UK’s economy the fall from 54.9 to 53.9 in December showed a fall in confidence which led to GBPEUR rates moving in a negative direction.

The Bank of England are due to meet tomorrow afternoon and if the central bank announce that they are still concerned about inflation and that policy may have to change in the future we could see a lot of movement on GBPEUR rates during tomorrow’s trading session.

If you have a need to make a currency transfer in the near future then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

Sterling Euro rates stuck in limbo (Tom Holian)

The Pound has once again experienced an indifferent day vs the Euro after getting close to hitting 1.15 on the Interbank level earlier today. At the time of writing the Pound is just trading above 1.14 after falling into the 1.13 levels during mid-afternoon.

It appears as though recently that the Pound is stuck in a range on GBPEUR between 1.13-1.15 and not being able to break either side and if so not last for too long.

The Brexit talks due to start in March will be phase 2 and will be crucial as the key topics will be what happens to trade once the UK and European Union separate from each other. With the talks having gone well during the first week of December when citizens rights were agreed as well as the Irish border issue and the divorce bill I think next month’s talks could be the catalyst for better rates when buying Euros with Pounds.

We end the week with the latest figures from the Eurozone’s Producer Price Index for December with the expectation for 2.3% so anything different is likely to cause movement for GBPEUR exchange rates when this is published at 10am tomorrow morning.

However, arguably one of the most important data releases of the week is the data from the US Non-Farm Payroll due at 130pm in the afternoon. As the Euro has been trading at close to record levels against the US Dollar recently the data could cause a lot of volatility so make sure you’re prepared for what could happen to rates.

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

Having worked for one of the UK’s leading currency brokers for 15 years I am confident of being able to help you.

Email me directly Tom Holian teh@currencies.co.uk

 

How will the Pound move against the Euro in 2018? (Tom Holian)

The Pound has remained in a fairly tight range against the Euro since the start of the year as the market appears to be waiting for further progress with the Brexit talks.

With the last meeting going relatively well in early December we saw GBPEUR rates spike in an upwards direction but the gains were relatively short-lived.

The critical issue of Brexit is that it is not just the UK who will be affected but also the European Union.

When the talks initially began last year the Pound came under a lot of pressure as the cards appeared to be in the hands of the other 27 member states.

However, recently the talks have started to progress positively and I think we could see Sterling improve in the future when the next round of discussions begin again in March.

At the moment the market is relatively settled so if you’re happy converting your money at these rates and would like a free quote then contact me directly by calling 01494725353 and ask for Tom Holian when calling.

The next catalyst for change in the short term is due to come out later on this morning with the latest release of Eurozone inflation figures at 10am. Eurozone Inflation is extremely important for the central bank when deciding monetary policy so this morning’s data could impact GBPEUR exchange rates.

The European Central Bank has already previously reduced their QE programme and if inflation remains as expected we could see the ECB possibly hint at raising interest rates at the next monthly meeting in the future which could see strength for the single currency.

If you have a currency transfer to make and would like a free quote compared to using your own bank or simply want to compare rates to buy or sell Euros against your current foreign exchange provider then feel free to get in touch for a free quote. Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to help save you money on exchange rates.

Email me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Euro remains strong against the Pound but for how long (Tom Holian)

The Pound vs the Euro has been trading in a very tight range during the course of this week as the markets return for their first full week back since the start of the year.

It appears as though the currency markets are waiting for their first big move of the year and with the Brexit negotiations not due until March the Pound could remain under a lot of pressure for the next two months.

Economic data has been mixed and we have seen Sterling move up one day and then down the next and not yet settled in one direction or another.

The Euro has once again broken the 1.20 Interbank level against the US Dollar which is the highest the currency pair has been in a very long time which highlights how strong the single currency is at the moment.

Tomorrow afternoon could see the Euro end the week with a lot of movement as the US releases its latest set of inflation data in the afternoon.

Inflation is a key indicator as to which way a central bank may move interest rates so if you’re in the process of making a currency transfer involving Euros then keep a close eye out on tomorrow’s announcement.

US Retail Sales are also due to be published and like with inflation, I think we could see a lot of volatility at the end of this week.

If you have a currency transfer to make and would like a free quote compared to using your own bank or simply want to compare rates to buy or sell Euros against your current foreign exchange provider then feel free to get in touch for a free quote. Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to help save you money on exchange rates.

Email me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Brexit talks dominate GBPEUR exchange rates (Tom Holian)

The next round of Brexit negotiations are due to start later today at the meeting currently being held in Brussels.

Hopefully this could mean that things could move on to the longer-term relationship between the European Union and the UK and if the talks go well we could see the Pound make some gains vs the Euro.

Indeed, if the talks progress we could see discussions moving forward about a transition deal for what will happen once the UK has left the European Union in 2019.

The Pound made some small improvements against the Euro yesterday hitting 1.14 on the Interbank level but it appears as though GBPEUR exchange rates are waiting to see what happens with the Brexit negotiations before making their move.

I personally think we could see the Pound move in an upwards direction if the talks progress as it shows that we are getting closer to agreeing a solution.

However, whatever happens over the next few days even if the Pound does rise against the single currency I think the movements will be relatively short-lived.

Indeed, German Chancellor Angela Merkel said that progress had been made but there was ‘much more work to be done and time is of the essence.’

As we go into the start of next week Eurozone inflation data is due to be released on Monday which could cause some movements for Sterling vs the Euro but ultimately I think the market will mainly be moved by whatever happens with the Brexit discussions so make sure you’re prepared for any eventuality.

If you’re in the process of either buying or selling Euros and would like to be kept updated with what is happening over the next few days then contact me directly for a free quote.

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

Contact me directly Tom Holian teh@currencies.co.uk and I look forward to hearing from you.

The impact of exchange rates when selling a property in Europe (Tom Holian)

If you’re in the process of selling a property abroad the chances are that you’re doing research about how to save money when selling Euros to buy Pounds.

We have seen the Pound come under a lot of pressure since June 2016 when the UK voted with a majority to leave the European Union and although the Pound has been improving recently the gains could be very short lived.

The next EU summit is due to take place next Thursday and Friday and up for discussion will be the Irish border issue as well as trying to kick start the trade negotiations.

At the moment the Irish border issue is clearly far from being sorted and I think unless this gets resolved by next week the Pound could face some real problems next week as the trade talks could stall making the whole meeting almost rather pointless.

The UK announces both Industrial and Manufacturing data in the morning so this could cause some short term movements tomorrow and as we go into the afternoon the latest NIESR GDP data is announced for the last three months.

Although these are not the official figures they are usually very accurate and therefore could be an indicator as to which way GBPEUR exchange rates will move towards the end of the week.

Many of my clients who are buying or selling a house in Europe have been buying forward contracts recently in order to avoid the uncertainty as to where exchange rates could be by the time completion comes around.

This involves paying a small deposit with the balance to be paid at a later stage to guarantee an exchange rate.

If you need to make a currency transfer over the next few days or weeks and would like further information or a free quote when buying or selling currency then feel free to get in touch.

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

To find out more contact me directly Tom Holian teh@currencies.co.uk

Pound hits the highest rate to buy Euros since early November (Tom Holian)

The Pound has continued to make gains during the course of this week against the single currency as the news from the behind the scenes concerning the Brexit appears to be going a lot more positively recently.

Rumours are rife that the UK are preparing to offer approximately €50billion Euros as part of a settlement called the divorce bill in order to take the trade negotiations forward.

The next meeting is due to take place in the middle of next month and top of the agenda is likely to be the Irish border issue and as yet this could be a real sticking point for progression of the talks.

Clearly Ireland wants to remain without a physical border between north and south and this has not yet been sorted.

The amount of €50bn is not the only amount that the UK may have to pay as we also have a lot of previous financial obligations with some expectations as much as €100bn.

The Pound vs the Euro is currently trading at its best level to buy the single currency with Sterling since the start of the month creating some excellent opportunities for those looking to send money to Europe.

However, with all the ongoing uncertainty over the next few weeks a lot of my clients have been looking to buy a forward contract which allows you to fix an exchange rate for a future date.

This can take out all the concern of where GBPEUR exchange rates may be during this time and although they don’t always work they can provide you with peace of mind.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

 

Brexit negotiations to dominate Sterling vs Euro exchange rates (Tom Holian)

Brexit talks are again set to dominate Sterling Euro exchange rates as Prime Minister Theresa May has been told that she has a fortnight before she has to add more money to the pot if she wants talks to progress between the UK and the EU.

EU Council President Donald Tusk is preparing to take things forward but he has said that he wants the UK to move forward on the issue of the divorce bill as well as the Irish border.

At the moment the ‘divorce bill’ is still yet to be decided and this needs to see further progress before the next official summit due to take place on 14th December.

Tusk is due to meet with Theresa May next week but things are likely to stall at least until next year if things don’t get resolved during the next two weeks.

As we go into next week all eyes will be focused on next Wednesday’s Autumn Statement. The Chancellor Philip Hammond could face a lot of pressure from Tory Euro skeptics to be bullish about the Brexit so it will be interesting to see what plans he has for tax cuts and plans to encourage spending.

Hammond has been relatively cautious so far so further evidence of this could cause a lot of movement for Sterling vs the Euro during the middle of next week so make sure you keep a close eye out on the markets and the impact of the Autumn Statement and ongoing Brexit saga.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me with details of your requirement and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

Brexit Date and UK Economic Data – Pound vs Euro rates (Tom Holian)

Prime Minister Theresa May has set out guidelines for the UK’s date and time to leave the EU in law and claiming that she will not ‘tolerate’ any potential plans to block the Brexit.

May has claimed that the EU Withdrawal Bill will be formally changed on Friday 29th March 2019 and as we are already almost 6 months into the discussions this is a clear line in the sand by Theresa May.

This means that the government are absolutely committed to pushing through Brexit but she will still have to get it through a number of attempts to pass it via parliament.

There are still a number of opponents to the Bill but it looks at though there is at least an attempt to provide the markets with certainty.

Turning the focus back to the UK economy we have a lot of economic data due out during the course of the day starting with UK Manufacturing & Industrial Production data due out at 930am this morning.

This will be followed later this afternoon with the latest NIESR GDP estimate for the last three months.

The UK has been going through a mixed period with economic data so keep a close eye on the data releases over the next few hours.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.