Daily Archives: April 18, 2012
Pound Hits 20 month high against Euro! Also spikes against Dollar, AUD,NZD, CAD,ZAR, JPY, CHF and many more!
The Pound saw yet further gains today against the Euro and indeed a basket of major currencies.
This is a breath of fresh air for those in the process of purchasing a foreign property or that have had to put up with poor exchange rates over the past few years.
If you are in the middle of a purchase overseas or rates at present are well over what your company has budgeted for the year then there is the option of booking out your rate on a forward contract… This is where you can lock in to a rate of exchange for anything up to two years for just a small deposit, you can then send the balance to us at any time on or before the date we have agreed at no extra cost and we will provide the Euros for you at the original agreed rate.
Of course if the rate continues to climb you do miss out but there is nothing better than having the peace of mind that you know exactly how much that property will cost and that you won’t get any nasty surprises when you come to pay your balance.
I have been saying the Pound will climb on this site for an awful long time now and those that have sat tight and ridden the wave with me will have truely benefited.
If you have a transfer either large or small (we do not deal in cash) and you would like me on your side then email me directly djw@currencies.co.uk and I will be happy to help you, you could also join our mailing list for free by filling in the form in the top right hand corner of this site… Or if you really want to hear news ‘straight from the horses mouth’ give me a call on the number just above that form.
Important UK data releases this morning – Update
BoE Minutes – Adam Posen changed his previous vote of calling for QE to no call for QE.
Unemployment – Rate has dropped to 8.3%.
Both outcomes have given the pound a lift. If you are looking to trade and would like to be kept up to date with all the important information moving the rate speak to us today.
Will the Pound tumble this morning?
I have highlighted this morning as the opportunity for anyone looking to buy the pound. That is because at 09.30 we have UK Unemployment data and the Bank of England Minutes from their last meeting. Let us have a quick look at why these are important and why they could provide a good opportunity in what is a tough market for anyone selling a foreign currency to buy the pound.
Unemployment – Currently at 8.4% and expected to remain at this level, the number out of work is at 2.67 million. High Unemployment means less tax revenue, higher benefit costs and less consumer spending which all leads to lower growth in an economy. It puts a real strain on the economy and since the UK’s position is not improving fast, is a weight on the pound. If the data comes in this morning better than expected we could see the pound get a lift, but since no change is expected there may not be too much movement. If it has risen, we will surely see some sterling weakness.
If you are looking to make any currency transfers and are hanging on waiting for the right time we can help. You can open a free, no obligation trading facility in minutes online and trade once this is done. Call me on 01494 787 478 or email jmw@currencies.co.uk asking to speak to me, Jonathan, quoting PSF.
Bank of England Minutes - The MPC (Monetary Policy Commitee) set interest rates for the UK at the Bank of England. There has not been any change since May 2009, but this meeting also determines whether or not more Quantitative Easing will be announced. The meetings takes place on Wednesday of the first full working week in any month, with the decision on the Thursday. Then two weeks later the minutes are released which show how the members voted. This is what we will learn this morning at 09.30. Will we see a sign that more QE is on the horizon? It is these sentiments that will move the pound and are worth being aware of today.
If you have any transfers to make we can help with the very best exchange rates as well as all the information you need to make an informed decision about when to trade. If you would like to find out more why not speak to me directly on jmw@currencies.co.uk or call 01494 787 478 and ask to speak to me, Jonathan, quoting PSF.
I look forward to hearing from you and assisting with the best deal!
