Tag Archives: currency
The Pound has had a really good morning against all major currencies this morning following much better than expected unemployment figures for the U.K and also news that after six long years wage growth has now overtaken inflation.
Both of these factors have led to a spike in the market for Sterling which is great news for anyone looking to buy foreign currency in the near future.
If you are in the process of buying a property overseas then your dream home abroad has indeed just become a little cheaper for you!
We have some European inflation data out shortly and then this afternoon we have the Canadian interest rate decision and statement so keep a keen eye on exchange rates between 3-4pm this afternoon.
Personally I think the Pound has the potential now to kick on once again as long as we see this positive trend continue in terms of economic data.
If you are looking to buy or sell foreign currency in the near future then it is well worth getting in touch with me directly. Not only can I help you achieve better exchange rates than your bank or current broker but I can also help you with the timing of your transaction with years of knowledge of the currency markets. Feel free to email me directly on email@example.com with a description of what your requirements are and a contact number and I will be more than happy to assist you personally.
Do you need to exchange foreign currency? Whether you plan to use your bank or already have a currency broker in place we can more than likely save you a great deal of money! (Daniel Wright)
I have now had thousands of new clients contact me through this site in the 4 years I have been running it and have found that I have been able to save the vast majority a great deal of money on their foreign exchange needs.
Some were planning to just send money through their banks and others have used a broker a few times already if not for years…. I would say 99% of people that have got in touch have got a better rate through me than the other options they have available.
For the sake of taking two minutes to email me directly you may potentially save yourself thousands of Pounds so if you feel that our award winning exchange rates and level of customer service may be of use then feel free to contact me (Daniel Wright) on firstname.lastname@example.org
Benefits of you getting in touch and dealing with me are:
- I will be your personal account manager, so you have one point of contact for all transfers
- We have been trading for over 14 years and are one of the UK’s leading specialist foreign exchange companies with over 45,000 satisfied clients
- We are registered with the FCA and Authorised as a Payments Institution
- We have achieved Best Currency Deals, Best Currency Provider and Best Exchange Rates 3 years running by the Sunday Times as well as more recently by The Telegraph. I am confident I will get you the best rate.
- We have been recently voted as a finalist in the Orange ‘National Business Awards’ for customer service
- We are purely an execution only service and we do not speculate with your funds, or company funds
If you feel that you are not getting the very best rate of exchange that you can through your bank or current broker or feel that there is room for improvement on the service side of things then it may be prudent to get in touch.
Once again all you need to do is email me (Daniel Wright) on email@example.com with a contact number and a brief description of what you are looking to do and I will be more than happy to contact you personally.
Next week we have a fairly busy start with key inflation data on Tuesday morning for the U.K followed by unemployment figures on Wednesday, keep checking back here for further information on how this affects the strength of the Pound.
Good afternoon Readers! The pound is at some truly excellent levels currently, levels that should not be easily dismissed in the hope of much better rates. If you need to buy or sell currency there are a few pointers to note that will make your life easier and your wallet heavier!
Accept that you will not get the ‘top’ or the ‘bottom’ of the market. All too often I am managing one of my client’s currency exposure and they base all their calculations on a recent high. So for example selling Euros to buy pounds at 1.19 or buying Euros with pounds at 1.22. If you do this you are likely to be disappointed. Speak to me about what is a more realistic rate to achieve by calling 01494 787 478 or why not email me firstname.lastname@example.org
Do your research! There can be major difference between the exchange rates offered by banks and currency brokers like us. But there can also be major differences between the rates offered by different brokers. Here at poundsterlingforecast.com we seek to undercut other brokers and on large volumes the differences can be significant.
GBPEUR is currently 1,2131, GBPUSD is 1.6751, GBPAUD is 1.7921 and GBPCAD is 1.8261
Getting the best exchange rate on a large volume currency transfer (£10,000 +) makes a big difference to the amount you receive. If you are transferring a sum of this size and want to learn the current forecast please contact me on email@example.com for the very best rates and latest news on what will move your rate!
RBA minutes lend support to the Australian Dollar. Focus now on the UK’s budget and Bank of England minutes tomorrow (Mike Vaughan)
Sterling has started poorly against most majors pushing close to the 1.18 territory on GBP/EUR, back into the 1.65s for cable (GBP/USD) and 1.82s on GBP/AUD.
The Australian dollar has rallied following the release of the latest minutes from the Reserve Bank of Australia. In their assessment they were clear that it would be unlikely to see further interest rate cuts in the near future and they also appear to have taken a different stance on the value of the Aussie. Previously the RBA had always cited concerns over the strength of the dollar and the impact this would have on their exports. This view seems to have now somewhat changed and the central bank said that “decline in the exchange rate seen to date would assist in achieving balanced growth in the economy”. This suggests the RBA is comfortable with the current level, has the recent sell off for the Aussie stopped for now?
Looking at the pounds moves this week and the main talking point will be tomorrows budget. Other areas should also be focused on with a speech from Mark Carney this evening, should he be cautiously optimistic, as he has been in the past, will the pound find some strength this afternoon? Also tomorrow will see the release of the Bank of England minutes at 09:30. This will give insight as to how the MPC voted at the last interest meeting and will give a nod towards future monetary policy the bank may have in store.
As mentioned we also have the budget at 12:30 which could be a market mover as well depending on any revisions to the growth and borrowing forecasts. Alongside patting himself on the back it will be interesting to see what Osborne puts out on offer and how this affects sterling exchange rates.
Finally looking at the US dollar, Wednesday will also be an important day with the release of the Federal Reserve minutes and their interest rate decision. Rates are expected to remain on hold but look for clues as to what the bank may have in store for future tapering, a continuation in current policy and I would expect support for the dollar.
To get further insight into the currency service we provide and to discuss the current market trends in more detail please do not hesitate to contact me. I would be happy to run through the service and the various contracts we can offer to see if we can help you save money when compared to your current provider. Please email Mike at firstname.lastname@example.org
Mark Carney and the Bank of England have raised UK growth forecasts helping sterling to gain against a number of currencies. At the same time they have underlined interest rates will be on hold for a long period of time which limits just how much higher we can expect sterling to rise in the coming weeks and months.
If you have a sterling transfer to consider in the coming weeks and months making some plans now at these levels may be a sensible move.
In other news the new Federal Reserve Chairmen Janet Yellen underlined Quantitative Easing in the US is likely to continue until there are significant improvements in the jobs market. And overnight Chinese economic data was much stronger than expected presenting what I believe is a very good opportunity for anyone selling Australian dollars or South African Rand to buy GBP.
I am available to assist in the planning and execution of any international money transfers you need to make (including bringing funds back to the UK or Europe). Unfortunately no one can tell you exactly what will happen on exchange rates but having won awards for our service and rates, we are extremely well placed to offer expertise in managing your currency exposure.
For a breakdown of strategies and options on your particular exchange please call me Jonathan in UK office hours on 01494 787 478 or if you prefer email a quick outline of your position to email@example.com
Last night the Federal Reserve tapered by another $10bn as expected so the Dollar has fought back against the Pound and the Euro. However the big news has been the commodity currencies, where sterling has gained considerably. The fear for many countries is now that the tap of cheap money from the US is being switched off, their economies could suffer. South Africa followed India and Turkey in a surprise interest rate hike yesterday to try and stop the massive slide in the ZAR. However the currency is still near a decade low and currently just under 19! If you are buying Rand then it is a great opportunity on a very volatile currency.
Rates for NZD are also very good as the RBNZ didn’t hike interest rates (there was an outside chance they would hike) so we have seen Kiwi weakness as a result. Rates up over 2 have been pretty difficult of late as it seems to be a resistance point so again I would be tempted to buy now in the short term. The Aussie rate decision comes out on Tuesday and there is unlikely to be a change there but the accompanying statement could cause a lot of movement. We do have Chinese Manufacturing PMI over the weekend which will affect demand for Aussie raw materials, and Japanese monetary policy could be determined by tonight’s inflation figures- any sign of a further weakening could cause a lot of regional volatility for both the Aussie and the Kiwi as a result.
In all I cant see sterling gaining huge ground under its own steam after Carney dampened down interest rate expectations in the UK, so the current weakness for the 3 big southern hemisphere currencies could be a great opportunity to buy. If you do need to transfer currency to New Zealand, Australia, or South Africa then please do not hesitate to contact me on firstname.lastname@example.org or call 0044 1494 725 353 and ask for Colm
As predicted this morning it turns out Retail Sales were better than expected at 2.6% versus the 0.4% expectation. I would not have foreseen such a large improvement but this is obviously welcome for the UK economy although not the best news if you are selling a currency to buy GBP today.
I did hear back from the ONS (who were very fast and efficient I may add) who were not able to comment on which companies they sample for the Retail Sales figures for confidentiality issues. What they did say is that ‘if they have a UK registered address then they could potentially be included in the sample’.
The true impact of more shopping online with overseas businesses and the impact on the UK high street and Retail figures remains to be seen from this particular data therefore. It may be that one of the better retailers like John Lewis was included whilst poor performers like M&S were not. In any event it is a sample of companies and we have to go with what we have. It is certainly what other investors and economists will be using!
Looking ahead Q4 2013 GDP figures Tuesday 28th January is now very interesting. Will these Retail figures be reflected in the GDP data? With Retail accounting for 60-70% of the UK economy you could soon be looking at further improvements for the pound. As I have been saying for many weeks if you have a foreign currency to sell for sterling moving sooner really may be the best option.
For the latest news and more information on what is moving the market, as well as how to get the best rates of exchange please contact us or me directly using email@example.com or call 01494 787 478 and ask to speak with me Jonathan.
Enjoy the weekend
Having seen a few friends already break their new year resolutions this weekend I can smugly say that so far I am still going strong with mine.
One is to complete the Dryathon (no drinking in January) for the second year running and the other is to save money on whatever I can.
Everyone likes to save money and I think it is high time I listen a little more to the money saving expert Martin Lewis (his blog is number 2 and this one is number 4 of the top U.K finance blogs) and make sure I ask myself before paying for something if I really am getting the best price.
There is a fortune to be saved by shopping around and this by no means changes when exchanging foreign currency!
If you have a currency transfer to make in the near future then you need to make sure you get two quotes to ensure you are getting the most for your money as a tiny improvement on the rate can make a big difference in the amount of currency you purchase. On overseas property purchases you can actually save enough to furnish the property or even pay for numerous flights to your new dream home overseas by using a currency broker over using your bank.
On the flip side if you already have a currency broker it makes no harm to get a rate comparison now and again just to make 100% sure you can’t do any better.
The company I work for has won best exchange rate awards in both the Sunday Times and Daily Telegraph and we also pride ourselves on fantastic customer service. We are FCA (Previously the FSA) regulated and authorised as a payments institute which also makes us exceedingly secure to deal with.
If you want to follow my lead and start saving a little extra cash then why not start it right here. We have over 50,000 visits a month and generally do our very best to provide you with great market knowledge on what has happened to the Pound, why it has happened and what may happen in the future.
If you find our information useful then it may be prudent to get in touch to let us help you with your currency transfer either imminently or that is due to be carried out in the future.
Should you wish to have me call you personally to discuss the various options available to you then feel free to email me directly with a brief description of what you are looking to do and a contact number, I will be more than happy to help. You can email me on firstname.lastname@example.org and I will get back to you shortly.
A busy week ahead for the Pound, week overview will follow here tomorrow.
Thanks for reading!