Monthly Archives: April 2010
What will happen to the Pound with the election looming, will the Greece problem affect Sterling?
The Pound faces a tough week ahead now with the election geting ever closer and things really hotting up.
Investors are clearly due to be wary regarding this factor and speculators may well start to gamble heavily on the outcome over the course of next week. This may lead to some extremely volatile markets and in turn some fantastic buying and selling opportunities for those with transactions to carry out.
Should you wish to be kept informed of any movements in your favour or against you then do feel free to get in touch by either emailing me directly on djw@currencies.co.uk or filling in the enquiry form on the right hand side of this page.
The situation in Greece is also a major player at present… Although people may think it will only affect the strength of the Euro it could also have a knock on effect on the Pound as investor confidence slips away.
Once a package is in place for Greece one would imagine that you may see minor gains for the Euro as confidence rises slightly again over there.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
Sterling exchange rates hold firm
The pound has suffered as the Greek crisis continues. Fears have surfaced for some investors that if the problems spreads through Europe, it could damage the UK’s financial sector. Some are even concerned that we could see a down grade of the UK’s credit rating. Although we are in very different circumstances to Greece (our debt is lower as a total of GDP and financed on a longer term), we have heard speculation in the past that the UK could be down graded.
In my opinion a downgrade is unlikely and improving economic performance should prevent the UK from slipping back toward credit rating problems. From an exchange rate point of view all the speculation is causing market volatility with GBP EUR having moved 0.76% form the hi to low already today.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
Pound Sterling Euro – What will happen?
Nobody knows for sure precisely what is going to happen in the coming weeks with the election looming, credit rating downgrades and serious economic problems in the Euro zone and Greece potentially due to be joined by a host of other economies in the Euro Zone announcing all isn’t too rosy.
I personally think that the Pound will slowly climb in the coming weeks against the Euro as there are just too many problems for them as a whole now and the U.K may be (all be it pretty slowly) coming out of our troubles.
As the Pound only has the British economy to move off of and the Euro has so many different economies to factor in Personally I think this will eventually hinder the Euro and cause some big arguments going forward.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
Problems in Greece and Spain dent investor confidence and the pound
Credit ratings have been the key focus for European Markets over the last few days. Greece was downgraded to Junk status, and Portugal to -AA. Today S&P has down graded Spain to AA. While this ultimately has more effect on the Euro, sterling has also suffered as investor confidence is effective.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
GBP exchange rates fall on opinion polls
The pound has weakened across the board today following on from the big gain in value yesterday. Today’s less favourable movement appears to be due to less than conclusive opinion polls that show no party has a clear lead in the run up to the Election on May 6th.
Yesterday’s strongmovement was a result of an opinion poll showing that the conservatives had taken a commanding lead. With the pound having dropped off today, it highlights the point that we here at PSF have been making for the last week or so that a hung parliament is priced in to the market around the 1.14-1.15 interbank levels v’s the Euro. Obviously other factors will influence GBP EUR and other pairs but it would appear that most speculators and investors have “priced in” a hung Parliament.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
Sterling slips in morning trading… Is the spike now over?
Many clients have been asking me this morning “is the spike now once again over?”
The truth really is that nobody really knows however over the past 18 months the general pattern has been for the Pound to take a two steps forward and then follow up with a few steps back again.
As mentioned in previous posts I am quietly confident that the Pound has much better times to come this year however it may take a few knocks along the way.
This morning mortgage approvals for the U.K have come out slightly worse than expected which has led to Sterling weakness against a basket of major currencies as it suggests the housing market may not recovering as quickly as thought.
With the housing market being a major driver for the U.K economy this obviously isn’t exactly great news for the long battle to get things really moving again and has countered the numerous days of strength we have seen of late.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
Sterling Rally Continues
The recent strength in sterling was reversed on friday last week (the pound weakend v’s the Euro and USD, as well as other currencies) following worse than expected GDP figures for the UK. However, the week is off to a good start this morning, with the pound already up today across the board and most of fridays losses have been wiped out. This demonstarates the underlying strength in the pound in my opinion. In the past, negadive GDP data wuld have sent sterlign tumbling away, and the strong house price figures today wouldn’t have been enough to turn the tide!
GDP data confirms growth in the first quarter for the U.K – The Pound turning a corner?
The Pound made further gains in yesterdays trading following confirmation that the U.K economy had grown by 0.2% in the first quarter of 2010 which although is only a slightly positive movement it is still positive and rules out the chance of a double dip recession.
I even heard on the radio this morning that champagne sales were officially up by 15% which suggests to me that confidence in the U.K and indeed the Pound is well and truely on the up as mentioned in my last post I am going against most major analysts and fully expect us to slowly creep up against most major currencies with the odd step back.
Obviously this is dependant on the election not bringing in a hung Parliament which once again personally I cannot see happening no matter how much hype there is over it!
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
Sterling strength – will it continue? Hung Parliament – Will it happen?
The Pound has had a great day on the market today following better than expected unemployment figures once again a positive data release for the U.K this week.
My personal opinion is that I would not be surprised to see the Pound continue to slowly going strength over the coming weeks although it will probably take a few steps back along the way.
I’m going to stick my neck out here and go against many of the major analysts – I cannot see us ending up with a hung Parliament and I think the Pound will rally off the back of this…. Please don’t rely on this information as absolutely anything can happen on the currency markets and things can change within seconds…..
Anyone with upcoming transfer to buy or sell the Pound may wish to seriously consider the various options available to them inclusive of forward contracts, stop and limit orders to try and make the most of their money – get in touch for further details.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
Sterling Strengthens on Strong Economic Figures
The UK had strong inflation figures yesterday which gave the pound a boost as it suggest further Quantitative Easing is unlikely and that we may even see an interest rate rise at the back end of the year.
Today we have had low unemployment figures for the UK, which has led to the pound gaining almost 0.5% against the Euro USD and Japanese Yen. With national debt figure out tomorrow for the UK, this could be a short lived spike.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
