Tag Archives: currency

Do you find this site of use? If so then it makes sense to contact us to assist you with your currency exchange!

Here at Pound Sterling Forecast we have now spent over 5 years keeping readers fully up to date with market movements by giving timely, up to date and non biased market views and opinions.

All the writers on this site work for a currency brokerage with a turnover of half a billion pounds a year that has won numerous awards both for rates of exchange and customer service so we thought we would make you aware in case you didn’t know.

I have personally had nearly 5000 new clients get in touch with me through the site over the years and for anyone exchanging over £10,000 there has not been one that we have not been able to make a saving for, so if you are in the process of buying a property overseas, emigrating, buying a car or your company carries out large currency exchanges then it would be well worth you contacting me personally even if you feel you are currently getting a good deal through another broker as more often than not you can still do a lot better.

If you are using the bank then it is essential that you get in touch as it is very rare a banks exchange rate is anywhere near what we can offer as a company.

You can email me (Daniel Wright) the creator of this site personally on djw@currencies.co.uk  or fill in the enquiry form on the right hand side of this page with a brief description of what you need to do along with a contact number and I will personally call you to discuss your requirements and let you know how I can assist you.


Sterling Breaks 1.37 When should I buy Euros?(Daniel Johnson)

Sterling has strengthened over the Euro today due to positive  UK unemployment data and a rise in average earnings. To add more to Euro woes there was below par figures out for CPI in the Eurozone. We have seen GBP/EUR hit 1.3755 in the last few minutes. If I had a Euro requirement short to medium term I would be looking to move at anything above 1.3740 before GBP hits resistance.

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 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.



What can you do on pound sterling exchange rates this week?

Sterling is performing well as UK GDP pointed to further improvements in the UK economy and we get back to pre-crisis levels. The unbalanced recovery is a concern and it appears unlikely the pound will just keep rising!

With the uncertainty surrounding Greece now removed from the market attention has shifted to wider concerns on interest rates and economic recovery. Personally I cannot see the UK raising interest rates any time soon but the pound appears likely to reach to the data as it has done in the last week.

I think it is really important to understand your options when buying currency with us so here is the information!

1 – Store currency safely in a client account. You don’t need a foreign bank account to buy foreign exchange with us! You can buy Euros and we can keep them here until you need them sending out perfect for business or overseas property investors who don’t yet have a foreign bank account. You can split payments too. eg buy 200k euros and send out 20k euros for deposit leaving remainder here until a foreign bank is open or you need sending out. This means you can buy whilst rates are good not just when you need the currency or have opened a foreign bank account.

2 – We can offer a forward contract to fix today’s rates for up to one year in advance useful for business and anyone buying a large volume of currency. You pay a deposit and choose how far forward. Eg you could fix 300k euros for 3 months and draw it down after 8 weeks if you needed them earlier. Again you don’t need a foreign bank account open to buy with us and can buy or lock in to a price whilst rates are good.

3 – Limit Order’s target a rate you wish to buy currency at in the future. eg 1.60 on GBPUSD. You give us a firm order and we place it into the market. Once the rate is achievable we buy at your desired rate.

If you need to buy or sell the pound understanding all of your options and what is going on in the market is the best way to minimise your exposure. For more information at no cost or obligation please speak to me Jonathan on jmw@currencies.co.uk. Just email a quick outline of your position and your situation and I can hopefully offer some useful information to help you get a better deal.

I look forward to hearing from you!


Strong GDP Figures surprise markets and boost Sterling (Joshua Privett)

Even though yesterday was a relatively quiet day for data releases, significant weakening for Sterling was recorded. Rounding off a general trend away from the fresh 8 year highs reached last week for GBP/EUR rates at 1.44, poor retail sales figures released in the UK economy caused rates to drop to the low 1.40’s. It was expected that due to the contraction recorded in the retail sector, normally a fantastic performer for the UK economy, that GDP figures will dissapoint markets further on the British economy. As a result, this lack of confidence in the Pound caused rates dip back below the magic 1.40 marker.

However, GDP figures came in higher than expected, surprising everyone, and causing all of the losses for the Pound on Monday to be reversed. Rates suddenly catapulted up to 1.41 this morning. But it is important to note that rates were moving in the opposite direction before this little psychological stunt in the markets. GDP figures also did exceed expectations at the start of the month, they simply did not come in lower than the 0.7% previously predicted.

Without strong data to change the current course of GBP/EUR rates following the agreekment, I fully expect rates to continue journeying downwards. Those looking to purchase Euros should call 01494 787 478 and ask for Joshua to receive a free quote on your transfer. Alternatively, email me on jjp@currencies.co.uk to discuss how to maximise the value of your Sterling while the market is moving against you.

Why the pound can only strengthen from here

When trying to determine the exchange rate forecast there are various indicators to consider which can help us to work out the ultimately impossible to answer question ‘what will happen next on exchange rates’. My favourite indicator to look at is the words and comments of the central bankers and their teams to see what kind of language they are adopting. The Bank of England today confirmed that they felt the time for an interest rate rise is moving forward and as such sterling is highly likely to strengthen in the future.

One of the main reasons the Bank of England kept interest rates on hold this month is the fears over Greece. That is not to say that removing Greece from the equation would have led to an interest rate rise but that it was a factor preventing most members from looking at the economic situation of the UK. With Greece seemingly dealt with now market attention has and will continue to look more at the economic data and see to what extent it corresponds to the Bank’s own language on raising interest rates.

Why do interest rates strengthen a currency?

Raising Interest rates by a central bank strengthens the currency concerned and the mere prospect of that event happening in the future will serve to increase the value of the currency concerned. When considering a large currency purchase and trying to understand which direction your exchange rate will take, working out what drives the exchange rate will be of key importance to understand what might happen.

Therefore if UK economic data keeps showing the UK economy is growing, creating jobs and people are spending money the Bank of England will be more likely to raise the base rate which should strengthen the pound.

The pound has strengthened and is currently enjoying multi-year highs against the Euro, Australian dollar, Rand, Canadian dollar, Kiwi dollar and the Swedish Kroner. If you need to buy the pound then you might wish to make some plans sooner rather than later. If you are business getting paid in Euros or an overseas property investor looking to repatriate funds and buy in the UK our services might really be up your street.

If you are considering a large volume currency purchase why not get in touch to see if we can offer some assistance with your exchange? Alongside friendly and knowledgeable customer service you can check your current exchange rate to see if you really are getting the best deal.

My name is Jonathan and I have been working as a currency specialist for over 5 years. I like to think I am approachable and can answer any questions you might have not just on the markets but also our services!

Please feel free to drop me an email on jmw@currencies.co.uk and I really do look forward to hearing from you :)

Sterling Euro breaks past 1.40 as predicted (Tom Holian)

If you’ve been reading my previous articles then you’ll not be too surprised to see Sterling gain vs the Euro today as the Greek saga continues.

Last night’s discussions did not end with a deal and with only a week away from their payment to the IMF the clock is ticking faster and faster resulting in Euro weakness.

We are now at the 2nd best exchange rate for buying Euros in 8 years creating some excellent buying opportunities to send money overseas.

The Greek news is dominating the market and until this is resolved we could see some further gains but we could still be days away from a deal being reached.

I think a deal will be in place by the end of the month which is likely to settle global currency markets and bring some certainty to the situation but until then if you have to buy Euros it is worth taking advantage of these current highs.

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




Could there be a Resolution to Greece’s Debt Problems? (Daniel Johnson)

Crucial to any GBP/EUR trade is the situation in Greece. 

Greece are due to pay €300m to their creditors on Friday. The latest news  is that the IMF and the ECB have put a deal together to present to Athens. Tsipiras representing the Greeks is also set to produce his proposal. The Currency market does move on rumor, and news a deal is probable has seen the Euro strengthen considerably over Sterling already.

I feel the Greeks will make their payment. However trouble looms later this month with a further €600m to be paid. My view is Greece will remain in the Eurozone. It is in both sides interest to come to an arrangement.  As if Greece were to leave it would be catastrophic for their economy and the IMF and ECB want their money back. What also has to be taken into account is if Greece were to leave the Eurozone it will set a precedent.  Would Italy or other nations follow suit? If other members were to leave, Euro confidence would take a severe hit.

Current market conditions for Euro buyers are still very favorable, sitting close to the eight year high of late. I have witnessed many trying to hang on for that extra buck and get caught out.

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 at dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.


To what extent will sterling recover in the coming weeks?

Sterling is down against all currencies on political uncertainty arising from the most uncertain General Election in decades. The Tories and Labour are neck and neck fighting to gain any seats to reduce their reliance on other parties in coalition. Just what can we expect for the pound in the next 24 hours and weeks? It looks like sterling is going to fall further whoever gets into power!

Tory Majority – Sterling Positive. As plans on the economy to keep on the current course should help investor confidence surrounding the pound. Although the Tories have pledged a referendum on Europe which could damage business confidence for the coming months and in the future.

Tory and Lib Coalition – Sterling Positive. The Current partnership has reduced Unemployment and is currently in charge of a growing economy.

Tory, Lib, UKIP – Mildly Sterling Positive. Increaeses the chances of an EU Referendum being held sooner than expected which could be GBP negative.

Labour Majority – Sterling Negative. The increased spending plans are unlikely to boost confidence in sterling and fears over the mismanagement of the economy would be rife.

Labour Lib Coalition – Mildly Sterling Negative. The Liberal Influence may be viewed positively by markets.

Labour SNP Coalition – Strongly Sterling Negative. The SNP are likely to seek another referendum on the Union which they are more likely to win than before. The splitting up of the Union could be very worrying for investors seeking certainty on the outlook of the UK.

In short there are many outcomes that may affect your price! To be kept up to date with all the potential outcomes and learn what happens please contact jmw@currencies.co.uk

GBPEUR could well drop 6 cents! Are you buying or selling?

‘Sterling loses significant ground as election uncertainty heats up’ could be a headline next week as the most uncertain election in years takes place. Sterling lost 5 cents in the weeks leading up to the election in 2010. The same was true of the Scottish Referendum. Can you really afford to take risks with so much at stake? Many people buying a foreign currency with the pound have been locking in on forward contracts lately to guarantee they won’t get a worse rate in the future.

If you are transferring currency in the coming weeks or months please don’t take the current rates of exchange for granted, it could end up very costly. The election is such a rare unique event trying to make firm predictions could be a big mistake. Having said that it seems reasonable to expect the exchange rate will drop as it has done in the past at such times.

If you need to buy or sell it might be a good idea to make some plans as major uncertainty is due. For more information on just what to expect and how to benefit from the uncertainty please contact me Jonathan on jmw@currencies.co.uk

GBPEUR rates unstable around Greece

GBPEUR levels are holding up well and the reason for this surprise so close to the election is the Greek story. The latest is that they have initially, up to Friday to get a budget reform plan accepted by the ECB and IMF before the next lump of funds are released to them. They also have a large amount of repayments to be made next month which is another concern. The only play they have is to make this as muddy as possible which has weakened the euro.

The deadline for the next ‘update’ probably not a solution is on Friday of this week and when this happens I expect the Euro to strengthen making buying the single currency more expensive. This however could easily be the catalysts that starts the rates on a a negative trend in the run up to the election in the UK which is just 15 days away.

What I am saying is that many experts are thinking that we will now have a negative trend start for GBPEUR levels. So if you have euros to buy in the near future you have to have a very strong argument to wait. For a full break down of forecasts, live prices and tools contact myself or the team via hse@currencies.co.uk




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