What is happening to Sterling vs the Euro and will the Pound make gains? (Tom Holian)

Sterling Euro exchange rates have finished the week almost 3 cents higher than when the week first started.

Prime Minister Theresa May was rather bullish in her speech on Tuesday and claimed that she would seek parliamentary approval concerning Article 50.

With the Supreme Court decision originally due to take take place earlier this week this has now been delayed and the expectation is now for Tuesday morning. However, it appears as though the ‘horse’ has bolted with the PM already having spoken about the issue.

This shows that the power is still clearly with the government and it will be them who will ultimately decide when Article 50 will be triggered and this is what helped the Pound to make the gains.

However, I think investors and speculators will be looking closely at the announcement nonetheless and I think this is likely to cause volatility for Sterling exchange rates so if you’re considering buying or selling Sterling then keep a close eye on the currency markets on Tuesday.

Yesterday evening saw the inauguration of the new President of the United States Donald Trump and although this has yet been felt in the foreign exchange markets his rhetoric was extremely pro-US and bringing back manufacturing to the US.

However, this will clearly be very difficult to change in the short term so expect to see volatility for the US Dollar as next week commences and the US opens for business on Monday.

My prediction going into next week is for Sterling strength against the Euro but weakness vs the US Dollar.

My name is Tom Holian and I have been working in the foreign exchange markets for over 14 years for one of the UK’s leading currency brokers. 

Not only does the company I work for offer better rate of exchange than using your own bank but also I can help you with the timing and offer you various different types of contracts to suit your needs.

To find our more or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Will this sterling rally keep going?

The pound has had a very turbulent start to 2017 being pulled from pillar to post on all fronts. What started as a reasonably positive year as markets expected a quick Supreme Court decision to help lift sterling soon gave way to Theresa May attracting headlines over her hard Brexit approach. The roller-coaster continues next week with the Supreme Court case being released Tuesday at 09.30 am. Then on Thursday we have the latest UK GDP data. All in all a busy week, how will sterling react?

Most commentators expect the Supreme Court decision will lead to sterling strength as the court upholds the previous decision by the High Court to force Theresa May to seek parliamentary approval to trigger Article 50. My personal view is this will be the case and sterling could enjoy a very good start to next week. GBPEUR could hit 1.16-1.17, GBPUSD could hit 1.24-1.25, GBPAUD could hit 1.65-1.66. If you have a transfer to consider then making some plans in advance is well worthwhile to capitalise on the volatility. I do feel any spikes will be short-lived so if you need to buy a foreign currency with the pound making some plans sooner rather than later is the best way forward.

As the market has ‘priced in’ the good news the real risk here is if the previous decision is rejected. Most commentators have reported that this is the big risk, sterling is more likely rise than fall. but if it falls it could be a big all! We have learnt in the last few weeks that nothing should be taken for granted on exchange rates, things can change very quickly. The best way to limit your exposure is to make yourself aware of any pending exchanges you might have and we can monitor the market and offer you some practical assistance with the timing of your plans.

My name is Jonathan Watson and I have worked for nearly ten years helping clients buy and sell foreign exchange. Whether buying or selling an overseas property or paying foreign currency invoices I can help business and private clients. Even if you deal with another currency broker it is important to point out that all companies are not the same. I am very confident I can undercut any exchange rate you are offered from another currency broker as well as offer you some insight into the timing and planning of your transaction.

The one certainty to me is that pound sterling rates will remain volatile. I would be very interested to hear from you to offer some help with this volatility and help you to maximise your currency transfer. Please speak to me Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you and assisting in the future.

Jonathan Watson

Pound to Euro prediction (Dayle Littlejohn)

UK Prime Minister Theresa May has stolen the headlines this week. The PMs approach of “No deal is better than a bad deal” and that she will allow MP’s to have the final say has surprisingly given the pound a well needed boost against the euro. Furthermore she went on to tell the World Economic forum in Davos that she plans to make the UK a ‘world leader’ on trade.

Mrs May’s positive approach has seen the pound gain 2 1/2 cents against the low points early this week. To put this into monetary terms a €200,000 purchase is now £3,800. Looking ahead the next major decision that will impact GBPEUR exchange rates is the Supreme Court decision, Tuesday morning.

With Mrs May given Parliament the final say on Brexit, I wouldn’t be surprised if she already knows that the Supreme Court will rule in favour of the High Court and that’s why she made the statement in the first place. Therefore Tuesday’s decision could lead to further improvements for GBPEUR exchange rates.

When should I buy my euros?

With exchange rates improving this week and the Supreme Court decision on the horizon, I would ride out the decision and then make my decision. If the market spikes I would look to trade immediately. The company that I work for will keep you up dated with market information whilst having the ability to improve on exchange rates that you will be offered by your bank. If you are looking for the best rates whilst being kept up to date feel free to email drl@currencies.co.uk with your requirements. If you would like to speed the process up call 0044 1494 787 478 and ask to be connected to Dayle Littlejohn.

If I have not covered the currency pair you are trading feel free to email me with the pair (GBPUSD, GBPAUD) the reason for the currency conversion, the timescales and I will respond with my forecast.

 

Sterling continues to climb in the wake of Theresa May’s Brexit plan speech, how much further could the Pound climb? (Joseph Wright)

The Pound has gradually climbed in value throughout today’s trading session against almost every other major currency. This is likely to be a continuation of the positive sentiment surrounding the UK since May outlined her Brexit plans, offering the markets clarity.

The safe haven currencies, such as the Japanese Yen and the Swiss Franc have lost a lot of value today versus the Pound, which I personally think is a key indicator of Sterling’s potential future price movements. It appears that investors are less risk adverse right now meaning that the Pound could continue to climb and get closer to key trade levels such as 1.20 between the GBP/EUR pair and 1.25 between GBP/USD.

For those that are planning on making a currency exchange between the Pound and also think the Pound will gain over the short term future, there are a number of options available to you that I’ll be happy to discuss in further detail if you wish to get in contact.

One of these is a Limit Order. A Limit Order is an automatic order to trade at a level that’s more favourable than what’s available at the current levels, and it’s a very useful tool for those that wish to trade at better rates than what’s possible at the current time. For example, at the moment it’s impossible to trade at 1.1650 between the GBP and EUR pair, because that level is above the current inter-bank level of 1.1580. Therefore if you think the GBP/EUR will continue to climb, you can set up an automatic order to trade at 1.1650 so if it becomes available, you’ll trade at that level.

It’s also worth noting that our exchange rates are more competitive than the typical banks therefore if you would like to compare our offers with your current providers, feel free to get in touch with me.

Tomorrow is likely to be a quieter day for the Pound as there’s no major economic updates scheduled for release out of the UK, but next Tuesday we are expecting to hear the official result of the Governments on-going appeal with the Supreme Court. I believe that if the Government is successful and permitted to formally begin the Brexit process without parliamentary approval, we can expect to see the Pound lose momentum and perhaps lose this week’s gains but on the other-hand, an unsuccessful appeal is likely to boost the Pound which is why I think understanding Limit Orders is important for clients (or potential clients).

If you would like to discuss your currency exchange plans with me, I may be able to help you maximise your results with our array of trading options. I’m confident that our UK based, specialist currency brokerage can offer you a better rate of exchange than your current provider and therefore save you money. You can email me directly on jxw@currencies.co.uk with an outline of your plans, and I’ll be back in touch with you as soon as possible. 

You can also call in and ask reception to speak with Joe by calling 01494 787 478.

Sterling Exchange Rates Steady after Brexit Statement (James Lovick)

Following the excellent jump higher for the pound on Tuesday following on from UK Prime Minister Theresa May’s speech the pound has struggled to continue the drive higher. After a sizeable drop lower yesterday the pound today however is still maintaining the higher ground and pushing marginally higher, currently sitting just below 1.16 for GBP EUR and at 1.23 for GBP USD.

For anyone needing to buy or sell pounds the next key date for the diary is next Tuesday 24th January where the Supreme Court ruling will be announced and high volatility should be expected. Although Theresa May has stated that Parliament will get a say on the final Brexit deal there are still likely to be complications for government before that happens.

There are a number of politicians who wish to keep Britain within the single market so should Theresa May lose the appeal then these voices are likely to gather momentum and this could start to see a softer Brexit in the making. This could be very beneficial for the pound in this scenario and in my view the pound would likely strengthen. On the other hand if Theresa May wins the appeal then she will be able to be tougher in negotiations driving a harder Brexit which in the short term is likely to see the pound weaken as result of uncertainty as to where the negotiations will end up.

As far as the economy is concerned the fundamentals are all doing well. Inflation picked up earlier this week on Tuesday whilst unemployment has remained steady and healthy with the headline unemployment figure sitting at 4.8%. This all bodes well for the pound so it is just this Supreme Court ruling that needs clarifying and which will permit new direction for the pound. Those clients who have a currency requirement would be wise to get in touch has there is a lot riding on this Supreme Court ruling.

If you would like further information on sterling exchange rates and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

Exchange rates for buying Euros and Dollars hold onto gains with Supreme Court decision date released (Joshua Privett)

This nervous market has delivered something rarely seen in this post-Brexit landscape…rates for buying Euros and Dollars have held their value after a powerful day for Sterling on Tuesday.

For those unaware, Theresa May delivered a very measured and confident speech yesterday which received praise from global financial markets, shown by the massive buy up of Sterling which saw GBP/EUR, GBP/USD (in particular), GBP/AUD and GBP/CAD benefit. Sterling to US Dollars saw its biggest single daily rise since October 2008.

And what was the root cause? The fundamental point that was taken away from May’s speech, at least from a currency perspective, was that she was paving a course for the Brexit where Parliament was heavily involved.

Parliament is seen as a moderating actor. One which will delay rather than accelerate, and one which we urge caution rather than extreme measures. Whatever your politics the currency world has shown repeatedly that they wish to avoid a quick and hard exit from the EU, and this anxiety translates into a weaker Pound. Hence why this news caused the complete opposite effect on the Pound yesterday.

The fact that May took the time to say that Parliament will vote on any final deal with the EU is suggestive of continual consultation. Whether Parliament will be consulted on the triggering of Article 50, the beginning of the formal process to leave the EU, will be decided by the Supreme Court next Tuesday at 9:30am.

Given the line May took, and the fact that the heavy favourite is for the Supreme Court to uphold the initial Judicial Court decision in November, the Pound could see further improvements in the medium term.

However, Euro and Dollar buyers should be mindful that each weekend further political reactions can be expected to the Brexit. Not just from Theresa May but her European counterparts who have already expressed their own tough rhetoric. When she last discussed a hard Brexit GBP/EUR, GBP/USD and GBP/AUD fell by 1.2% as a collective average, and the very prominent example of when Hollande and Merkel said the UK’s aims were completely unrealistic, the October flash crash saw a 3%+ drop in all buying rates within a few hours.

The closer we get to March, arguably the more twitchy and nervous your will find this marketplace. Easily changeable, and with greater downside risk than positive improvement for foreign currency buyers.

USD buyers are the only ones who may enjoy greater variance in the forecasts, but that is because Trump is considered such a considerable wildcard.

As such the sensible option for anyone planning a transfer should be either to take advantage of the recent gains, or see next Tuesday as a final point of opportunity – as after this, there is little more to be decided until the official commencement of the process to leave the EU in March. Effectively this should create a ‘sweet spot’ of opportunity for Euro, US Dollar, Australian Dollar, and Canadian Dollar buyers before this period begins.

Sterling buyers, based on your personal timeline of course, do not seem to face the same degree of urgency, with the likelihood for a nervous market to produce sudden opportunities to buy the Pound fairly cheaply being quite high.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on jjp@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

You can also speak to me directly on the phone by calling 01494 787 478 and asking reception to speak with Joshua.

Sterling’s Value Soars Following Theresa May’s Brexit Speech – Will This Trend Continue? (Matthew Vassallo)

Sterling’s value soared during Tuesday’s trading, following UK Prime Minister Theresa may’s speech regarding the UK’s Brexit.

This was her most detailed speech to date regarding how the government hopes to facilitate our exit from the EU, with Article 50 still scheduled to be triggered in March to start the formal process.

The Pound benefited from positive comments regarding a future relationship with the remaining EU states and made significant gains against all the major currencies.

GBP/EUR rates rose by over two cents with the pair now trading above 1.15, whilst GBP/USD rates gained over three cents at the high with the pair moving through 1.24, before retracting slightly this morning.

The markets have been left in limbo for months regarding how the UK economy intends to prosper following our exit, so yesterday’s more detailed plan will have come as a relief to investors who have been craving some solid information to work with. Personally, I don’t think the speech gave us a real insight into future policies but of course the noises being made were that the UK would create a stronger economy, which still had a relationship with our closest neighbours.

Theresa May did state that we would no longer be part of the single market but hoped for new custom arrangements with the remaining 27 EU states and that we would still contribute to the EU budget but wasn’t specific regarding how much.

All of this has led to increased investor confidence and the Pound has benefited as a result. This spike has flattened this morning and whilst the speech was certainly more bullish than many expected I’m not convinced it was strong enough for Sterling’s to continue its aggressive advance ever the coming days.

If I was holding GBP and had a short-term currency exchange to make I would be tempted to monitor the market over the coming hours, before making a decision on when to move. I still do not feel that the Pound will be able to sustain any aggressive move up against either the EUR or USD, with March’s timeline for Article 50 likely to handicap any major advances over the coming months.

We may find that investor confidence allows for a short-term improvement but if we start to see a snap back I would be tempted to take advantage of Sterling’s increased value, rather than gamble on what is still a very fragile and unpredictable market.

If you have an upcoming Sterling currency exchange to make and you are concerned by the increased market volatility of late, it may be wise to look at protecting the gains you’ve made, or limiting your losses with one of our forward contracts, rather than gamble on what has become an increasingly volatile and unpredictable market.

If you would like to be kept up to date with all the latest market movements ahead of your currency exchange, or simply wish to compare our award-winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on mtv@currencies.co.uk

Huge Sterling rally following comments made by Theresa May’s Brexit Speech (Tom Holian)

Sterling has gained by a huge amount against all major currencies following Theresa May’s comments made earlier today in her Brexit speech.

Although the Prime Minister has said that the UK can not remain in the single market as staying means that we will not be leaving the European Union she also went on to say that the UK would be looking for new trade deals elsewhere as well as trying to negotiate with our European neighbours.

Theresa May is still confident that the UK will trigger Article 50 by the end of March and that it would be parliament that will vote on the final deal due to be agreed between the UK and the European Union.

This is arguably one of the clearest moments since October concerning Brexit and one of the main reasons for Sterling’s improvement during today’s trading session.

We have also seen the Pound make improvements across the board after the losses that Sterling saw over the weekend against all major currencies.

However, although the Pound has made huge gains today the Supreme Court judgement is still due to come out and this could cause further volatility for Sterling exchange rates when the decision is announced.

The biggest winners of the day are those people looking to buy US Dollars with Sterling and with Donald Trump due to be inaugurated on Friday we have seen the Dollar weaken against Sterling by almost 3% or the difference of £3,000 on a currency transfer of £100,000.

We have also seen Sterling gain by almost 3 cents from the low to the high for GBPEUR exchange rates as it looks as though there is a clear intention to carry on the negotiations rather than cast ourselves adrift.

With all the uncertainty expected to continue in the foreign exchange markets it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date and avoid the risk of the market moving against you

If you would like further information about the process or for a live quote when buying currency then feel free to contact me directly.

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

Tom Holian teh@currencies.co.uk

 

 

Major Volatility expected ahead of Supreme Court Judgement and Theresa May Speech (Daniel Johnson)

Supreme Court Judgement imminent

Today there are expected to big swings on the currency market. It would not be surprising to see the decision from the Supreme Court Judgement arrive before Theresa May’s speech at 11.45am. If it is not however, the PM’s speech will become even more important as she well have a good idea as to the outcome and her speech could give hints to investors. I think it is probable that parliament will get to vote on the triggering of article 50 and this should be seen as positive for Sterling as it would point toward a softer brexit. Temporary trade deals could be in place while new deals are negotiated.

If they do not get the option to vote on article 50 it would mean the UK could well be moving toward a hard brexit. This is what Theresa May is indicated is her preference. The current target for a full exit from the EU of two years would be even more unrealistic and the uncertainty surrounding the future of the UK economy would damage investor confidence considerably. Sir Ivan Rogers recently resigned from his position as UK ambassador to the EU stating the exit strategy is insufficiently planned and trade negotiations could take as long as a decade.

Theresa May to deliver Brexit Plans

Theresa May’s Speech commences at 11.45am and she is set to reveal plans for exit from the EU. It is expected that she will tell other European countries that the UK wishes to trade as freely as possible but she does wish to have a full exit, a further hint toward Britain leaving the single market. May stated during a Sky news interview last weekend she would be willing to sacrifice free trade in order to have control over immigration.

The speech will be watched very carefully by investors and high levels of volatility are expected. It is crucial to be in touch with an experienced broker in order to maximise your return. We have contract options available to suit your individual needs and can notify you of opportune moments to get the most from your transfer. If you already have a currency provider I will provide a comparison and I am very confident in showing you a significant saving. If you would like my assistance I can be contacted at dcj@currencies.co.uk. Thank you for reading.

Daniel Johnson

 

 

Sterling exchange rates drop to start the day only to recover – Theresa May to speak tomorrow at 11:45am (Daniel Wright)

The Pound had a bad start to the week, dropping against most major currencies in the Asian market session on Sunday night.

By the time we entered the trading floor rates had started to recover a little and U.K Manufacturing data released this morning helped to push the Pound back closer to where we saw it end last week.

Sterling really is having a rough ride of things lately and we are seeing multi month and even year lows against some major currencies. The GBP/AUD rate almost hit its lowest point since 2013 on Sunday night, giving those looking to bring Australian Dollar sellers into Pounds a great opportunity to repatriate their funds.

Now that the dust has settled on an extremely busy trading day we look ahead at what to expect tomorrow.. And it certainly does not look like a quiet one.

We have a flurry of inflation data out over the course of the morning for the U.k, with inflation expected to have risen ever so slightly. This is not a great surprise with the low value of the Pound and the Bank of England to have slight concerns over this so they will be looking to avoid the rise in inflation being too sharp.

The main event of the day will be Prime Minister Theresa may speaking about all things Brexit at 11:45am. Personally I feel we will just here more of the same comments that we have had come out from recent interviews but anyone with a currency requirement involving either buying or selling the Pound should still be poised and ready for action.

Investors and speculators alike will be moving off of every word and looking for any hints on what we are to expect so the market may be extremely volatile during this period and for the rest of the day.

If you are in the position where you are buying or selling a property overseas, your business moves funds between currencies or you have a foreign currency requirement for any other reason then it is key to keep a close eye on rates in the coming days, weeks and months ahead.

We keep our clients fully up to date with market movements and also assist with large foreign exchange transfers too. I created this site over 7 years ago to help people with market information but we also welcome new clients to assist with their money transfers on top of this.

Should you be in the position where you may need our service, you are getting rates from another broker that you don’t feel are the best or you merely want to have an efficient, pro active and friendly broker on your side then feel free to contact me (Daniel Wright) directly. You can email me on djw@currencies.co.uk with a brief description of your needs and I will be more than happy to get back to you. Alternatively feel free to call our trading floor on 01494 787 478 and ask for me (Daniel Wright) anytime from 08:30am until 18:00pm GMT.

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