Let us be your eyes and ears on the market

More »

We can help you save money when buying your overseas property!

More »

Better exchange rates than the banks for private and corporate clients - Contact us today!

More »


Euro strongest against Sterling since May (Tom Holian)

GBPEUR rates are now at their best level to sell Euros since May 2015 following some lower than expected US Non-farm payroll data released yesterday afternoon.

The expectation was originally for 205,000 new jobs created in the US during September but the release showed only 142,000 new jobs for the world’s leading economy.

In recent weeks there has been a raised expectation that the Federal Reserve would increase interest rates before the end of the year.

With Fed Chair Janet Yellen claiming any interest rate change is data dependent yesterday’s figures could postpone a rate hike this month.

The absence of a potential rate hike for the US has resulted in Dollar weakness and Euro strength as global investors sell the Dollar in favour of the single currency.

This has seen GBPEUR rates trading in the 1.34 territory and GBPUSD rates hit 1.52 on the mid-market level during Friday afternoon.

ECB president Mario Draghi will be addressing a press conference on Tuesday evening and this could cause further volatility for Sterling vs Euro exchange rates.

With UK GDP having been revised down from 2.6% to 2.4% earlier this week the NIESR release their own UK GDP figures for the last three months on Wednesday afternoon.

If the figures are come in lower then I would expect to see further Euro strength later in the week.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk




All eyes turn to the Interest Rate Decision on Thursday (Daniel Johnson)

It has been a volatile week for Sterling with GBP/EUR specifically up and down like a cork in the bath. At has been very hard to predict so be sure to stay in touch with your broker to stay on top any sudden movements.

Thursday will be key as to the current positioning of Sterling, the interest rate decision will come in at 11am. Last months MPC vote came in zt 7/1 against a hike and it wouldn’t surprise me to see that move to 8/0. In which case we may see substantial Sterling weakness. If you are buying Euros it may be wise to move sooner rather than later.

I do have several large GBP-EUR trades going through in the coming days that potentially I could tag new clients on to and achieve a very competitive rate. Please do get in touch if this is something of interest. I will guarantee to beat any bank or brokerage’s exchange rates.

I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements including your time scale and the levels you are hoping to obtain and I will notify you of  any significant movement.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.


*BREAKING NEWS* Massive movement on GBP/EUR and GBP/USD (Joshua Privett)

The release of non-farm payroll data in the US economy is one of the few market events every month which has the potential to affect almost all currency pairings.

The overestimation for the report was staggering. It was expected that more than 200,000 jobs would be added to the US economy in September, instead it fell short by more than 70,000 jobs.

As USD/EUR is the most traded currency pair in the world, whenever you lose confidence in one, the other benefits massively. This is what has happened this afternoon. GBP/EUR has now bested the lows of May and it is now the best time to sell Euros since February.

However, we have repeatedly seen these short-term gains eaten up. Those looking to sell must remember that very little of these favourable movements are to do with positive data coming from the European economy. As such these rates are artificial and were never meant to be a permanent feature on the markets. We come down to these lows only to see them evapourate immediately, this is a proven trend on numerous occasions since August.

As such I still strongly recommend that anyone with Euros to sell to call me on 01494 787 478 and ask the reception for Joshua for a free quote on your transfer to avoid missing out on these opportunities. I can offer a rate beating guarantee here to increase your chances of transferring at the absolute peak.

Similarly those with USD to buy, with the interest hike in the US looming (guaranteed by the head of the FED a few weeks ago), we may be seeing the best buying levels for the Dollar before the end of 2016 now. jjp@currencies.co.uk

GBP/EUR lined up for a tough week next week (Joshua Privett)

Anyone looking to purchase Euros received a welcome break overnight. Rates have climbed when a sharp fall was expected, and GBP/EUR is still above the 1.35 mark

Markets were obsessing over the Chinese data to be released overnight which was forecasted to be incredibly poor. Whether this was through a little tampering, very likely due to the lack of transparency in their economy, we’re not entirely sure. But the data presented a much better than expected, causing GBP/EUR to remain relatively stable.

Some may wonder why I’m writing about China when discussing GBP/EUR rates. Since the events of Black Monday in August the value of the Euro is intricately tied to events over in Asia. The Euro continues to be artificially inflated from money being taken out of investments in Asia and global stock markets and placed in designated ‘safe-haven’ currencies.

Whilst the Euro is not a ‘safe-haven’, it is still incredibly cheap, and after avoiding a Grexit investors feel the Eurozone has proven its commitment to stability, which is why this is the currency of choice to purchase during this regular string of poor Chinese data since August. The Euro strengthens through demand and GBP/EUR falls as a result.

So with unexpectedly positive data, GBP/EUR rates are slowly creeping up due to the large amount of Euros being sold. People line up to take advantage of these favorable selling opportunities which didn’t get better overnight.

However, it seems that the end of this week and next will cause some stumbling blocks for Sterling’s value which sellers and buyers should be aware of.

Tomorrow we have the release of construction data for the UK economy. As a regular poor performer, and with the UK recently having revised down its GDP growth for the year form 2.6% down to 2.4%, it’s unlikely this will be able to help Sterling’s value on the markets.

Next week will also have the interest rate decision for the UK economy. The past two months consecutively Sterling has lost value due to the lack of support for a rate hike in the UK in the near future. I would not be surprised for a repeat performance as there has been little change in our situation since August.

I strongly recommend that anyone with Euros to buy should contact me on 01494 787478 and ask the reception for Joshua to receive tailored advice on your situation as well as a competitive quote on your transfer. Even if your requirements are not for a few months, these currently favorable rates can be pegged to avoid disappointment and exposure to further negative movements. jjp@currencies.co.uk





UK Manufacturing seeing signs of a slowdown and impact for Sterling Exchange Rates (Tom Holian)

According to a recent report by the British Chamber of Commerce confidence within the UK manufacturing sector appears to be falling.

With Sterling having hit the highest level to buy Euros in 8 years during the second quarter this is likely to have had a negative effect on British exports during this time.

This backed up my argument with this week’s final revision of UK GDP figures which saw a drop from 2.6% to 2.4%.

This has caused Sterling to stutter vs the Euro but also this week the Eurozone has had a difficult period so it seems as though both parties are releasing similar negative data at the same time.

Both Germany and the Eurozone are currently in negative inflation which could put pressure on the ECB to add further Quantitative Easing in the future and if this happens it would likely weaken the Euro. However, this is still a long way off and inflation could return to positive over the next few months.

The interest rate cut by China last month has discouraged the Bank of England from increasing interest rates in the near future and the previous estimate for Spring 2016 has been put back to late 2016 which has seen Sterling being sold over the last few weeks.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk



Carney speech indicates further China woes (Joshua Privett)

The Pound slipped to its lowest level in almost 5 months against the Dollar yesterday, and to a similar position against the Euro, as we waited for Mark Carney, the Governor of the Bank of England, to deliver a speech.

In the most recent Bank of England minutes, the word China was mentioned 10 times across the 7 pages of the report. With the current market obsession at further bad news expected from China on Thursday morning, observers were wondering if Carney would give indications on how this would impact the UK’s timeline for raising interest rates.

Instead, he didn’t mention China at all.

Markets seem alarmed that he didn’t address the large menu of current events taking place that observers wanted his opinion on. Instead he focussed on climate change and its potential for global destabilization.

I know this is a big issue, but now is hardly the time.

Markets have reacted apprehensively to his active attempts not to address very important current issues. Not only does it suggest the news which will be coming out tomorrow morning could be dire, but it also indicates that Carney is unwilling to admit just how much sway this news has on the potential for the Bank of England to raise rates in the UK. You can’t raise rates if you expect global demand for your goods and services to be weakening. By not talking about it entirely, he avoided further probing questions around the topic.

Arguably the most important determinant of any major currency’s value since the 2007/8 financial crisis has been when it will be raising interest rates once more. Already Sterling is falling in value due to delays, should this data confirm further slowdowns in China, recent trends show we can expect more of the same. GBP/EUR has already dipped back below 1.35 and if I had Euros to secure over the next few weeks I would be looking to move sooner rather than later to avoid further expense.

Anyone with Euros to buy I strongly recommend contacting me on 01494 787 478 and asking the reception for Joshua to recieve a competitive quote on your transfer and tailored advice on your situation. I guarantee to beat any quotes offered elsewhere, which is more important than ever whilst markets are moving against you. jjp@currencies.co.uk

GBP/EUR now at 1.345! (Joshua Privett)

GBP/EUR rates cascaded downwards towards the end of UK trading yesterday, then US markets opened and the same trends we were seeing for the UK market throughout the day were replayed across the Atlantic.

As predicted in my post yesterday morning, we are now in the lower 1.3’s as the trends established by markets on Friday have continued on unabated.

The main determinant for this recent loss of Sterling value has actually been due to developments in the US. Janet Yelen, the head of the Federal Reserve Bank of America, gave near guarantees that the US will be raising interest rates before the end of the year.

Since the 2007/2008 financial crisis, arguably the main determinant of any major currency’s value is its timeline to raise interest rates once again. The US is making bold claims of their own, while the UK seems to be shying away. Andy Haldane, one of the 9 members at the Bank of England who vote on our interest rate level each month even mentionned the possibility of future cuts to protect the UK from negative market forces (a poorly performing China).

As such there was amass sell-off on Friday of Sterling into the US Dollar for investors looking for more likely short-term gains. GBP/USD crashed, but the large sell of of the Pound also caused secondary effects for its other currency pairings. The loss of demand for Sterling is why GBP/EUR has fallen so drastically as well.

These trends continued into Monday, but it is likely that this trend in favour of Euro sellers has now halted.

We have been down at these levels last week. Rates instantly shot back up as the temptation to sell Euros when these rates presented themselves became too high, causing markets to correct themselves rapidly.

Markets will now be looking ahead to the release of Eurozone inflation tomorrow, as such, the recent market forces in favour of Euro sellers are no longer the sole focus.

Anyone with Euros to sell I strongly recommend calling me on 01494 787 478 and asking the reception for Joshua. This way I can provide you with advice on the best time throughout the day to convert your Euros, and once we have a strategy in place I can offer a free quote on your transfer (to which we offer a rate-beating guarantee).

Those with Euros to buy may see tempting opportunities in the wake of thes recent lows by the end of the day, email me on jjp@currencies.co.uk to discuss how to maximise any moves in your favour to a level you desire or require with a limit order.

Data to watch out for this week for Sterling Euro Exchange Rates (Tom Holian)

Sterling Euro rates have started the week off similarly to where they left off last week with Sterling coming under pressure.

UK mortgage approvals are due in the morning followed by consumer borrowing and with the UK housing market still looking strong I think the data will come out positive.

However, although this is a good point there are more important data releases to watch out for this week which will impact levels to buy or sell Euros.

Wednesday is likely to be the biggest day for movements on Pound Sterling vs Euro with the release of GDP figures for the UK followed by Eurozone inflation and unemployment data.

I think in light of recent comments made by Mario Draghi and ECB member Nowotny that even if inflation falls there will be no immediate change for QE and therefore I expect the Euro to strengthen against Sterling during the course of this week.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk




Will Sterling recover from the losses last week? (Joshua Privett)

Friday shocked markets with rates undergoing a continued slide in the afternoon for most major Sterling pairings. GBP/EUR almost hit 1.34 once more and GBP/USD is down to 1.52 in a very poor Friday afternoon for Sterling.

A couple of triggers contributed to this slide which benefitted Pound purchasers.

Mario Draghi, the head of the European Central Bank, gave the single currency a welcome boost by stating that further quantitative easing had not be decided on as of yet for the Eurozone. He had previousy spoke of further emergency stimulus as a necessity, so this sudden change of tone reversed much of the recent weakness in the Euro following the Volkswagen scandal last week. The resulting Euro strength was why GBP/EUR fell so sharply in the afternoon.

More generally, the Pound lost value due to the bullish remarks by head of the Federal Reserve Bank of America, Janet Yellen, about the near guarantee of an interest rate hike before Christmas in the US economy.

The timeline for when an economy will raise interest rates has arguably been the most important factor for a currency’s value since the 2007/8 financial crisis. Recently the UK has been more dovish about the prospect, with one of the members of the Bank of England publicly stating that cuts could be required rather than hikes to protect the UK economy against slowing global demand.

With a more positive view on short term hikes for the US over the UK, a large amount of Sterling holders moved into the USD. This caused GBP/USD to fall and the mass sell-off of Sterling caused weakness across the board on Friday.

This week has little data on offer to reverse this trend. In fact, the only data releases of importance today will be housing and private expenditure data for the US economy this afternoon. Two regularly strongperformers for the US economy, should these come in as expected these will cement positive views on Yellen’s comments last week and cause futher capital to flee Sterling and into the Dollar – causing further falls in most GBP currency pairings.

I strongly suggest that anyone with Euros or USD to buy should contact me on 01494 787 478 and ask the reception for Joshua for a free quote on your transfer, as well as tailored advice on your situation. Quote this article for commercial rates of exchange on your transfer to help make up for your recent losses on the currency market.

Euro sellers, email me directly on jjp@currencies.co.uk to discuss a strategy on how to ride this recent wave in your favour further.



Sterling drops against all majors in a poor final weekly session for the Pound – Will this last? (Daniel Wright)

The Pound ended the week down against all majors in a week where very little economic data was actually released for the major economies.

In my opinion this is just a slight blip and presents a fantastic window of opportunity for anyone looking to sell Euros, Dollars, Australian Dollars, Canadian Dollars or any other major currency to buy Sterling.

Betting on interest rate hikes for the U.K has indeed been put back and yesterday BOE Governor Mark Carney did warn on a potential house price crash due to the buy to let market, but the economy is still performing pretty well compared to many others and with the rugby world cup currently giving the U.K economy a shot in the arm.

With this in mind I would expect retail sales figures to rise over the coming months and if the U.S do move forward with their rate hike in the next few months then speculation will be rife on the U.K following suit and Sterling may well get a boost from this.

My personal opinion on what to do in a market like this is to make good use of limit orders. A limit order is basically where you can place an order into the market to buy currency at a specific rate of exchange and should that level become achievable, even for a few seconds at any point (24 hours a day, 7 days a week) then your currency is bought out automatically for you.

The beauty of the order is that it can be cancelled or amended at any point as long as they have not been filled and there are no extra costs to use them.

If you feel that we could be of great use to you in terms of helping with an upcoming exchange or you would like more information on a limit order then you are more than welcome to contact me directly.

We welcome all new clients and can not only offer different contract types but we can also get extremely good rates of exchange.

All you need to do to get further information is to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to get in touch with your personally.

This site is protected by Comment SPAM Wiper.