Tag Archives: dollar
Sterling spikes as Theresa May reassures business and brings confidence to the Pound (Daniel Wright)
The Pound has had a fantastic start to the week, gaining ground against every major currency but the South African Rand over the course of trading today.
As I write this we have seen Sterling exchange rates breach 1.17 against the Euro, hanging around the 1.25 mark against the Dollar and closing in on 1.70 against the Australian Dollar.
Days like this really do show just why it is key to keep in contact with an experienced and proactive currency broker, I have informed lots of clients today about the spike and many of them have taken advantage which has made their currency purchase a lot cheaper.
We deal with overseas property purchases/sales, business transactions, wage payments and much more so if you are in the position that you may need to carry out a currency exchange for any of these reasons then feel free to contact me (Daniel Wright) directly on email@example.com and I will be happy to get in touch personally.
Later this week we will have Chancellor Philip Hammond and his Autumn Statement. Investors and speculators alike will be watching this with baited breath, waiting on hints for how the economy is due to be tackled throughout the ‘brexit’ process and how he plans top approach certain matters.
We still have the small matter of the high court decision regarding Article 50 so this may lead to some exceedingly volatile times coming up which is why it is essential to have someone on your side.
All of the writers here work for one of the top foreign exchange companies in the U.K and can help anyone around the world with their currency exchanges.
We pride ourselves on achieving our clients market leading rates of exchange but on top of this we like to think our level of service is second to none. We now have over 90,000 satisfied clients and have helped thousands of readers of this blog save money over their bank or current broker over the past 7 years.
Feel free to contact me (Daniel Wright) by emailing firstname.lastname@example.org if you feel I can be of assistance to you and I will be more than happy to contact you personally to discuss the various options available to you in simple terms.
Following on from the announcement this morning that Donald Trump had won the U.S Presidential election Sterling exchange rates have had a fantastic afternoon, with the pound up against every major currency. Sterling climbed to 1.14 against the Euro, 1.25 against the Dollar, 1.72 against the New Zealand Dollar, 1.65 on the Australian Dollar, 1.22 on the Swiss Franc and 1.69 against the Canadian Dollar.
Initially we saw a fairly large sell off for the riskier currencies (Australian Dollar, New Zealand Dollar and South African Rand) however as of writing this they had started to claw back quite a bit of ground. Stocks and shares had a similar reaction, initially dropping off quite harshly and then slowly creeping back up as the day has gone on.
It appears the markets in general are waiting to see what Trump says next and how he plans to move forward with the economy before the next move. The general thinking is that a trade deal for the U.K may now not be “at the back of the queue” as Trump would favour the U.K getting a deal a little more than Obama may have.
I personally feel that focus will now move on to Brexit once again so be aware that the media will now be looking to fill their pages up with new material as the Trump/Clinton battle has cooled off.
There is a chance now that Sterling may fall back into fashion, and with Sterling exchange rates so low the Pound is cheap to buy so I would not be surprised to see this trend continue, but do beware that further Brexit news may dampen this.
For the rest of the week I feel we will more than likely see some volatility depending on what we hear from Trump, but there are a few other releases of note for the markets to digest.
We have the RBNZ interest rate decision over in New Zealand this evening and expectations are for a cut from 2% down to 1.75% which may weaken the New Zealand Dollar a little more. Most important may be the press conference after it and if there are any indications of further cuts.
More likely than not the markets will be hinging off of Trumps every word in the coming days and weeks, and with the U.S being a number of hours ahead of the U.K we may see large swings overnight.
If you are in the position where you may need to carry out a currency exchange involving buying or selling the Pound then it would be sensible to get in contact with me. I have worked at one of the largest currency brokerages in the U.K for the past 10 years and can assist you with sending money overseas or bringing money back. We do not only offer market leading rates of exchange but also an exceptional level of customer service too. Feel free to contact me (Daniel Wright) if you feel I may be able to assist you. Even if you already use a broker it is still worth spending two minutes emailing me as I would be surprised if I could not save you money.
You can email me directly on email@example.com and I will get back to you straight from our trading floor.
Finally some positive movements for the Pound! I know a lot of our regular readers have been hoping for this…
Despite a relatively bullish day for the Pound, particularly by its own recent standards, the currency is on track for it’s weakest month since the month of the Brexit vote back in June.
The reason behind today’s bullish Pound is a meeting between the Governor of the Bank of England, Mark Carney has had a meeting with Theresa May (UK Prime Minister) regarding his future, and the general feel around it so far is positive as just prior to their meetup, May announced that the Governor has her full support.
There were rumours in the city last week that Carney would shortly be announcing his planned departure in 2018 but as it stands that doesn’t seem to be the case. I think that if he decides to extend his stay until 2021 and complete a full 8-year term we could see the Pound spike upward once again but certainly not back up to the levels we saw at the beginning of October.
This uncertainty surrounding the key figure of the Bank of England has not come at a good time for the Pound’s value, after we’ve already seen the currency lose almost another 5% through October after Theresa May outlined the end of March as the time to invoke Article 50.
This week is set to be a busy one in terms of economic news releases, with Thursday expected to be the busiest day for Sterling exchange rates as it’s the day of the BoE’s next Interest Rate Decision. Mark Carney will also be speaking that day so feel free to get in touch to discuss any planned currency exchanges in more detail as planning around these events could be key.
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 firstname.lastname@example.org and I will be more than happy to contact you personally to discuss the various options we have available to you.