Tag Archives: currency

Sterling continues to climb in the wake of Theresa May’s Brexit plan speech, how much further could the Pound climb? (Joseph Wright)

The Pound has gradually climbed in value throughout today’s trading session against almost every other major currency. This is likely to be a continuation of the positive sentiment surrounding the UK since May outlined her Brexit plans, offering the markets clarity.

The safe haven currencies, such as the Japanese Yen and the Swiss Franc have lost a lot of value today versus the Pound, which I personally think is a key indicator of Sterling’s potential future price movements. It appears that investors are less risk adverse right now meaning that the Pound could continue to climb and get closer to key trade levels such as 1.20 between the GBP/EUR pair and 1.25 between GBP/USD.

For those that are planning on making a currency exchange between the Pound and also think the Pound will gain over the short term future, there are a number of options available to you that I’ll be happy to discuss in further detail if you wish to get in contact.

One of these is a Limit Order. A Limit Order is an automatic order to trade at a level that’s more favourable than what’s available at the current levels, and it’s a very useful tool for those that wish to trade at better rates than what’s possible at the current time. For example, at the moment it’s impossible to trade at 1.1650 between the GBP and EUR pair, because that level is above the current inter-bank level of 1.1580. Therefore if you think the GBP/EUR will continue to climb, you can set up an automatic order to trade at 1.1650 so if it becomes available, you’ll trade at that level.

It’s also worth noting that our exchange rates are more competitive than the typical banks therefore if you would like to compare our offers with your current providers, feel free to get in touch with me.

Tomorrow is likely to be a quieter day for the Pound as there’s no major economic updates scheduled for release out of the UK, but next Tuesday we are expecting to hear the official result of the Governments on-going appeal with the Supreme Court. I believe that if the Government is successful and permitted to formally begin the Brexit process without parliamentary approval, we can expect to see the Pound lose momentum and perhaps lose this week’s gains but on the other-hand, an unsuccessful appeal is likely to boost the Pound which is why I think understanding Limit Orders is important for clients (or potential clients).

If you would like to discuss your currency exchange plans with me, I may be able to help you maximise your results with our array of trading options. I’m confident that our UK based, specialist currency brokerage can offer you a better rate of exchange than your current provider and therefore save you money. You can email me directly on jxw@currencies.co.uk with an outline of your plans, and I’ll be back in touch with you as soon as possible. 

You can also call in and ask reception to speak with Joe by calling 01494 787 478.

Sterling exchange rates still looking shaky as we await news on Supreme Court – On the plus side a trade deal with New Zealand may be agreed (Daniel Wright)

As most of our regular readers will be more than aware, Sterling exchange rates have had a pretty torrid time this week, with the pound dropping to its lowest point on a trade weighted basis since October.

We have seen Sterling almost drop below 1.20 on against USD, 1.13 against EUR, 1.60 against AUD, 1.70 against NZD, 1.20 against CHF and it is sat below 1.60 against the Canadian Dollar as I write this!

The uncertainty caused by comments from Prime Minister Theresa May over the weekend and during the week are still causing investors and speculators to remain shaky over the Pound, and economic data has not done anything to provide a backup like it has been over the past few weeks.

The key talking point now is just what will the Supreme Court decide to do? As previously mentioned this decision matters a huge amount not only because it will show us what the next steps will have to be for article 50 being invoked, but it will also more than likely lead to lots of MP’s having their say afterwards and every single comment has the potential to move the market considerably.

On Tuesday we also have Prime Minister Theresa May speaking about Brexit, which makes me wonder whether or not she is expecting to have a result from the Supreme Court before then, if we do then Sterling is set for an extremely busy week.

One positive for the Pound today was news that we appear to have all but agreed a trade deal with New Zealand, and it appears that this is ready to go as soon as possible after Brexit. A number of major economies are stepping forward and happy to do business with the U.K which is no great surprise to me.

More and more good news like this that comes out during this long winded process should only lead to the Pound getting stronger, we just need to get over the potential banana skin of the Supreme Court and Article 50 being invoked first.

If you are in the position where you need to carry out a large currency exchange either imminently or in the coming weeks and months then it is extremely important to have an experienced and proactive broker on your side. Most brokers out there will only try and convince you to buy or sell your currency as soon as possible but we are here to help you try and make the right decision for you.

Should you feel that I could be of assistance then I deal with both business clients and private individuals that need large currency transfers and would be more than happy to help you too. I created this site over 7 years ago and have helped thousands of clients that have contacted me save money over their bank or current broker.

All you need to do to make a simple enquiry is to email me (Daniel Wright) the creator of this site on djw@currencies.co.uk with a brief overview of what you need to do and I will be more than happy to contact you personally.

Why is the Pound losing value at the moment, and will it continue? (Joseph Wright)

Brexit jitters are continuing to weigh on the Pounds value, with the currency losing a substantial amount of value over the past week across the board of major currency pairs.

Currency markets were already weary of the Pounds future price movements as we await the outcome of the Supreme Courts impending decision on whether or no the UK Government requires parliamentary approval before beginning the Brexit.

These fears were exacerbated over the past weekend as a much talked about interview offered the marketplace an insight into the UK PM’s plans for the Brexit. UK Prime Minister, Theresa May alluded to prioritising the control of immigration, as opposed to focusing on retaining the UK’s access to the single market.

Moreover, May commented that the UK cannot keep ‘bits’ of EU membership and this comment has fueled the fire of bearishness towards the Pound at the moment.

It’s for these reasons that we’ve seen the Pound soften over the week, and the sell-off accelerated this afternoon after May announced that she will be giving another major speech on her Brexit plans on Tuesday of next week.

I personally think that the Supreme Court decision will have been announced by then, so there’s a possibility we could see a lot of volatility between GBP exchange rates between now and then.

Until then, I think that anyone with a currency exchange requirement involving the Pound should pay close attention to the Supreme Court decision. The likelihood is that if the Government is successful in their appeal we can expect to see the Pound fall further, as the Government plans on invoking Article 50 at the end of March and there polices generally lean towards a ‘Hard Brexit’.

On the other hand if they’re unsuccessful the general consensus is that the Pound could get a lift. Feel free to get in touch if you wish to be kept up to date with the outcome of the Supreme Court’s decision, as of yet we have no definitive time as to when this announcement will be made.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

You can also speak to me directly on the phone by calling 01494 787 478 and asking reception to speak with Joe.

Sterling remains under pressure despite positive data release, is this a sign of things to come? (Joseph Wright)

The Pound has come under pressure today despite the UK economy posting some better than expected figures in an important sector of the UK economy.

After beginning the day negatively the Pound received a slight boost this morning as Services PMI data came out better than analysts had expected. The data showed that sentiment within the services sector is positive, which is important for the UK economy as the services sector amounts to more than two-thirds of the countries economic output.

In normal market conditions it wouldn’t be unusual to see the Pound spike upward off this news, and although it attempted to the currency is currency down against all major currency pairs with the exception of the US Dollar, which has dropped in value today also across the board.

Those concerned with the value of the Pound should pay close attention to the outcome of the Supreme Courts decision on whether or not the government needs parliamentary approval before beginning the Brexit process.

This topic appears to be the biggest mover of currency pairs involving the Pound and the Euro could also feel the effects of the decision. The outcome is scheduled to be released between the 12-17th of this month and I expect expectations of the decision to effect Sterling’s value between now and then.

Other than this, economic data could also weigh on Sterling’s value especially if it disappoints considering what happened today. Feel free to get in touch if you wish to discuss any upcoming news releases and how they could effect your upcoming currency exchange requirement.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in touch with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

You can also call in to speak with me on 01494 787 478, just ask reception for Joe. 

 

Will this week’s data releases help push the Pound even higher? (Joseph Wright)

Sterling has managed to hold on to the gains it made through November as the currency continues to trade at a 3 month high against the Euro, and also a 2 month high when paired with the US Dollar.

The recent boost within the Pounds value has been welcomed by those planning on exchanging Pounds for another foreign currency, as at the beginning of last month Sterling was trading around it’s lowest levels against the Euro by almost 5 years, and at it’s lowest levels against the Dollar in around 30 years.

The recent upward movement for the Pound has made large currency exchanges involving the Pound considerably cheaper, and I think that Pound sellers have a key decision to make when it comes to their transfer. For example the Pound could continue to strengthen and consolidate above 1.20, that level could also act as a ceiling and we could see the Pound struggle to breach that level before falling back into the mid to low teens.

One approach would be to book at least part of your currency transfer around the current levels, as this approach allows clients to take advantage of the current 3 month highs whilst leaving themselves open to booking the next part at a more advantageous level, should that favourable movement occur.

There are a couple of factors which could impact the Pound over the following weeks. The Supreme Court hearing came to an end on Friday of last week, and although the result isn’t expected to be released until the end of January, expectations are for the High Courts ruling to remain in place. Despite this consensus I think that if the Government is successful with their appeal, we can expect to see the Pound fall as the Brexit process will be more straightforward and therefore, likely to happen sooner.

There are some key data releases this week and later this morning which could affect the Pounds value, and readers of this blog can feel free to get in touch regarding the times and details of these potential market movers.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages.

Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible. You can also provide me with a telephone number to contact you on, or you can call in on 01494 787 478 and ask for reception to speak with Joe.

Sterling exchange rates enter December in good health, but will the Pound continue to climb? (Joseph Wright)

The Pound is entering the new month in a much stronger position than it entered November, after the currency gained an impressive 4.5% against the Euro through last month as well as performing well against a number of other major currencies.

Yesterday afternoon the Pound spiked upward against the Euro, as did the US Dollar, after both UK GILT (bonds issued by the UK government) and US government issued bond yields both increased in anticipating of further quantitative easing from the European Central Bank, (ECB) and also expectations of an aggressive fiscal plan by the US President elect Donald Trump.

Whilst complicated the result was Sterling strength across the board.

People planning on converting Pounds into another major currency such as the US Dollar, the Euro or the Australian Dollar for example have been presented with a much more attractive opportunity than this time last month, due to the Pounds unexpected gains off the back of the unexpected election of Trump.

Personally, I think the Pound may gain further on the Euro as we enter December and the Italian Referendum this weekend may be the catalyst. If the Italian Prime Minister (Matteo Renzi) is unsuccessful in his plan to change the Italian constitution in order to reform the banking system in Italy, I think we could see further Euro weakness as soon as next week. Feel free to get in touch if you wish to be kept updated on this topic.

Those in the process of buying property abroad or moving large amounts of money internationally have the chance to save thousands if we compare the Pounds value now compared with just a month ago, and with the help of a specialist currency exchange brokerage like ourselves we can help clients get even more for their money as our rates can improve on the banks offerings by between 1-4%.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

You can also call in to speak with me over the phone on 01494 787 478, just ask reception for Joe if I don’t answer myself. 

 

Why should you contact us here at Pound Sterling Forecast? (Daniel Wright)

Over the past seven years we have had many clients contact us to see if we can assist them both with the timing of their currency exchange, but also with saving money over their bank or other currency brokerages.

All of the writers here work for one of the largest brokerages in the U.K and between us we have over 70 years experience of helping people send money overseas or bring money back for property purchases, property sales, business transactions or any other reason that involves a currency exchange.

We do not deal with holiday money or cash transactions unfortunately but we do pride ourselves on the very highest level of customer service along with seriously good rates of exchange.

Most of our traders have been doing this longer than our competitors have existed, so by contacting us here at Pound Sterling Forecast you can have the peace of mind that not only will you get a great rate, but your transaction will be handled smoothly and efficiently by a team that know exactly what they are doing.

We love providing our regular readers with up to date and important market information on this site and welcome all new enquiries with a personal response as soon as we possibly can.

Looking at the economic calendar we are fairly thin on the ground for data over the next few days as the month ends but do be wary as you can see fairly large swings for currencies as you near the end of the month as larger corporations net off positions and we start to see month end flows.

If you would like to be kept fully up to date with market movements or you would like to save money on any pending currency exchange you have then feel free to get in touch with me (Daniel Wright) personally on djw@currencies.co.uk and I will be more than happy to give you a call or reply to you email and answer any questions or queries that you may have. I look forward to speaking with you.

 

Sterling exchange rates boosted after the Autumn Budget, will the Pound continue to strengthen? (Joseph Wright)

The current levels for converting Pounds into other major currencies are surprisingly attractive when we consider the outlook for the Pound just a few weeks ago.

I think that people planning on converting their Pounds into another major currency, for a property purchase for example, have been dealt a fortunate hand as the Pound hit a 2-month high yesterday on a trade weighted basis, whereas just a few weeks ago the pound was trading at over 5 year lows against the Euro and at over 30 year lows against the US Dollar.

The Pound to Euro exchange rate is now trading closer to 1.20 than 1.10 after gaining 7 cents off the back of Donald Trump’s election victory. The UK economy, and therefore the Pound, has been boosted by the ‘Trump train’ after his warm words about the relationship between the UK and US in his campaign. Barack Obama had previously said the UK would be at the back of the queue on business deals whereas Trump said the opposite, and Trump also has a number of interests in the UK.

The gains for the Pound against the Euro specifically are extensive, making a €200,000 purchase £10,650 cheaper.

The Pound was boosted further yesterday afternoon after the Autumn Budget sprung no surprises. I do think that those planning on converting Pound into another major currency should watch the rates and news as the Pound could come crashing down quicker than it’s risen as is usually the case.

If you are planning a currency conversion involving the Pound, it’s worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

You can also call in and ask reception to speak with me (Joe) on 01494 787 478.

Sterling exchange rates receive another boost, but will the Pound hold onto its recent gains? (Joseph Wright)

Sterling is the best performing currency in the G10 so far this week, after it was boosted yesterday off the back of some Brexit positive news from the UK’s Prime Minister Theresa May.

Whilst addressing the CBI conference (a gathering of the leading names from the world of business, politics and media) May gave a number of hints that the government will be looking to create new opportunities through ‘new and dynamic’ trade deals. She implied that she would be looking for a transitional deal for business after the Brexit which suggests that she’s open to the UK retaining access to the single market for as long as possible.

Readers hoping for a stronger Pound should continue to pay close attention to comments by leading figures within the UK surrounding the Brexit.

The Brexit is the biggest driver of currency movement involving the Pound, with any talk of the UK retaining access to the single market, the Brexit initiation process being delayed or extensions to the 2 year separation process being met well by the markets.

The Pound is at it’s highest level vs the Euro in 2 months after gaining around 6 cents in a short period of time, mostly due to the High Courts recent ruling, Trumps election victory and May’s comments yesterday at the CBI conference.

There are a number of major financial institutions that despite Sterling’s recent gains, are still expecting the Pound to decline to levels not seen for 5 years during 2017.

HSBC remains particularly bearish regarding Sterling’s projected value next year, and DNB Markets have specifically given the GBP/EUR pair a 12 month price target of 1.0869 which is almost 10 cents weaker than its current level.

If you would like to be kept up to date with the latest Sterling news, and would like to discuss the timing of an upcoming currency exchange you’re planning on making involving the Pound, feel free to get in touch with me (Joe) directly on jxw@currencies.co.uk for a free overview. 

We’re here to help you make a well informed decision on when to make your currency transfer, and to help you benefit from highly competitive exchange rates as we’re one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible. You can also call in and ask reception for Joe on 01494 787 478. 

Will Sterling lose its recent gains or continue to climb? (Joseph Wright)

After performing well against the major currencies for the past week or so, the Pound has dropped sharply this morning wiping away much of the currencies recent gains.

After trading close to 1.17 against the Euro for the first time in months, the GBP/EUR pair have tested the late 1.14’s within the past 20 minutes and cable (GBPUSD) has also lost a cent this morning.

Sterling has recently gained a lot of value after Donald Trump’s successful presidential campaign in the US. The property tycoon has commercial ties within the UK, was pro-brexit and his mother was Scottish. His success in the presidential election has so far boded very well for the Pound as the currency recently has one of it’s best week’s against the US Dollar since October 2009, and the High Courts decision to rule in favour on whether parliament must be consulted before invoking Article 50 has also boosted the Pounds value.

The UK Prime Minister, Theresa May has appealed the High Court’s ruling and I think whether or not she’s successful will have a large bearing on how the Pound performs, as the Pound is likely to fall once again if Theresa May is successful just like it did when she initially outlined her plans of invoking Article 50 at the beginning of next year.

There’s a chance that the Pound could drop back to levels seen prior to the High Court Ruling and Trumps victory, and if so then now is the time to take advantage of what’s left of the Pounds recent gains.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me (Joseph Wright) directly on jxw@currencies.co.uk  and I will be more than happy to contact you personally to discuss the various options we have available to you.