Tag Archives: currency transfer
Sterling Euro exchange rates have continued to tumble during the week with GBPEUR rates now at their lowest point to buy Euros since early November 2016.
The Pound has also fallen against all major currencies with big losses seen vs the US Dollar and the Australian Dollar.
The Pound has struggled as it appears, at least for the moment, that we could be facing a hard Brexit which means we may not necessarily remain in the single market which has sent shockwaves through the currency markets and therefore Sterling has fallen.
Personal debt per household has continued to rise and this means that with inflation also set to rise it may be difficult for the Bank of England to increase interest rates in the future as this could cause further problems and this has resulted in weakness for the Pound.
Indeed, Bank of England member Andy Haldane went on to say ‘interest rates are still very low, and are expected to remain so for the foreseeable future.’
On the continent the Eurozone’s leading economy Germany has announced strong economic data in the form of GDP which came out at 1.9% for 2016 which was better than expected.
As the Eurozone’s strongest economy this has led to the Euro strengthening against the Pound creating some excellent opportunities to sell Euros to buy Sterling.
Next week Prime Minister Theresa May is set to address the nation on Tuesday and hopefully we will have the announcement of the recent Supreme Court judgement coming soon.
However, MPs have been explicit in that they want Theresa May to clarify her position with regards the single market before any Brexit talks can begin.
With the continued uncertainty surrounding Brexit I feel there are further problems ahead for the Pound vs the Euro as well as other major currencies so if you need to send money abroad in the next few weeks it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.
Having worked in the currency markets since 2003 I am confident that not only can I offer you bank beating exchange rates but also able with my experience to help you with the timing of your transfer.
To find out more or if you’d like a free quote when buying or selling currency then feel free to contact me directly and I look forward to hearing from you.
Tom Holian email@example.com
UK Prime Minister told Sky last week that she didnt want to keep bots of the EU which confirmed she plans to remove the UK from the single market. The pound has been in a steep decline since. The PM has blamed the press for the pounds demise however I believe if she continues with her tone exchange rates will fall.
She is set to hold another press conference Tuesday, with the agenda simply Brexit. Many leading economists and CEOs of businesses within the UK have warned the PM that she needs to give clear direction in the upcoming weeks. HSBC leading officials have gone one step further and warned the PM that her actions could push the bank to move their headquarters to Paris, which means many jobs would be lost for the UK.
As for UK economic data since the turn of the year, figures have been strong however the pound has declined. It just shows that politics/ Brexit is outweighing economic data releases.
If you have a foreign currency to buy this month I would recommend getting in touch to discuss your options as I expect the pound will fall in value once more after the PMs press conference Tuesday.
When buying or selling the pound you also need to understand the factors that will be impacting the other currency. Feel free to email me the currency pair you are converting (GBPUSD, GBPAUD, GBPCHF etc) the reason for your conversion (company invoice, buying a property) and I will email you with my forecast for the currency pair and the process of using our company firstname.lastname@example.org.
For the readers reference the company I work for on a daily basis save clients money on currency transfers. If you are planning a transfer and are using your bank or another brokerage, I would reccomend getting in touch for a forecast and at the same time compare of exchange rates. This is free of charge and will take you a few minutes.
The pending UK Supreme Court case in the UK is critical to the short term movements on sterling exchange rates and clients with a requirement to buy or sell the pound should be making plans around this. Expectations for the initial reaction to the decision are reasonably clear but once the decision is made we will then be faced with a whole new set of questions over the next direction for the Brexit vote. Markets have loosely priced in the expectation the previous decision will be upheld but there are no guarantees!
If the previous decision is upheld then the pound should rise. GBPEUR could hit 1.17-1.18, GBPUSD upper end would be 1.25, GBPAUD 1.70 and GBPNZD towards 1.80. The pound could easily fall up to 4% if the court case does not go the way markets have been predicting. There is a very strong chance we could be looking at rates on GBPEUR retesting 1.10-1.12 territory whilst on GBPUSD we could slip below 1.20. GBPAUD may drop below 1.60 and GBPNZD below 1.70.
The biggest problem is knowing when this case will be decided. With the Supreme Court reopening tomorrow from their recess period the news could come as early as tomorrow. I expect it will be between tomorrow and next week which gives clients looking to buy or sell sterling a small window of opportunity to plan in.
In order to maximise such an opportunity the best strategy in such a market is number one to be prepared and number two to understand your options. My order book is currently very high with ‘Limit’ and ‘Stop / Loss’ orders. A ‘Limit’ order allows you trade at a higher level whilst a ‘Stop / Loss’ order allows you to protect your rate should the market fall. In such an uncertain and potentially volatile market I feel the best way forward is to use a combination of the above tools to help limit your exposure and trade on any improvements.
If you have a transaction to consider and wish for some assistance with the timing and planning of any exchanges please feel free to contact me Jonathan by emailing email@example.com with an overview of your position and preferably a phone number so I can quickly contact you.
Thank you for reading this post and I look forward to answering any questions on the markets or the services we can provide.
Sterling exchange rates have started the year poorly having fallen against both the Euro and the US Dollar.
Since rallying just before Christmas the Pound has been on the back foot as uncertainty continues surrounding the issue of Brexit and the ‘will we won’t we’ impact of leaving the single market.
At the moment Prime Minister Theresa May is suggesting that if we are not able to have full control of our borders then she will look to leave the single market and this is one of the main reasons for Sterling’s recent demise against both the US Dollar and even more so against the Euro.
This week the Pound has continued to struggle even though both construction and services data have come out better than expected.
However, the fears continue to mount owing to the uncertainty caused by the Brexit vote which will affect how the Bank of England may react in the future.
Next Wednesday the UK will announce both Industrial and Manufacturing data which have in recent times caused big movements for Sterling exchange rates particularly vs the Euro.
Any signs of negative data could cause Sterling to fall and I think with the political uncertainty continuing this will clearly weigh heavily on the Pound over the next few weeks.
With the Supreme Court judgment due to come out later this month until we have some form of resolution I think the Pound could fall lower against both the Euro and the US Dollar.
If you’re in the process of needing to send money to Europe and buy Euros then it may be worth be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.
Having worked in the industry since 2003 I am confident that not only can I save you money on exchange rates when buying or selling currency but I can also help you with the timing of your transfer.
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 and I look forward to hearing from you.
Tom Holian firstname.lastname@example.org
I feel long term we will see Sterling rally against the Euro, I feel it is chronically undervalued at present. The only reason the pound is below 1.20 is due to the electorate’s decision to leave the EU. The key factor in the pound’s value is trade negotiations, which currently leaves the nations economy in uncertainty. The High Court Judgement as to whether the government will vote on the triggering of Article 50 is due to complete in early January and this will determine whether there is a hard or soft Brexit. A hard Brexit would weaken the pound substantially. If you have to buy Euros short term and wish to eliminate any risk from your trade it may be wise take advantage of current levels.
Medium to long term as trade negotiations become more apparent Sterling should gain strength. The Euro also has some serious underlying problems which could rear their head. Political uncertainty caused by the emergence of right wing groups could cause weakness. Also we have Italian Banks bad loans in excess of €360bn, A debt crisis in Greece and shockingly low inflation. Any of these factors could severely weaken the Euro.
Following the FED’s decision to hike rates and forward planning indicating there could be as many as three more. I think the US dollar has further ground to gain on Sterling. The Dow is finishing at record highs and economic data is very strong. If I had to buy Dollars I would be moving quickly.
If you have a currency requirement it is wise to be in touch with an experienced broker. The timing of your trade is vital during such volatile times, If you have an experienced broker on board we can keeo you up to date with what is happening in the market to help you make an informed decision. If you would would like me to assist with your trade I will be happy to help you personally. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to better virtually every competitors rate of exchange. You would also be looking at saving anything up to 4% in comparison to high street banks. Please do get in touch by contacting me at email@example.com. Thank you for reading.