Tag Archives: exchange

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!

 

Pound makes gains following growth figures this morning (Daniel Wright)

Sterling has had a fairly solid day against most major currencies after growth figures released this morning confirming that the economy had grown a little more than expected during the second quarter of 2015.

The U.K has indeed now seen 10 consecutive quarters of economic growth and chancellor George Osbourne has also commented that the economy is indeed ‘motoring ahead’.

This is great news for those looking to buy foreign currency in the coming weeks and months but also a little worrying for anyone with currency to exchange back into Sterling at some point soon.

Tomorrow is the next big point of note for the markets as we have the Federal Reserve interest rate decision due out in America at 7pm BST and this can have an impact on all major currencies as it has an affect on global attitude to risk. Should we even see the hint of an interest rate change coming up for the States the Dollar may gain strength and markets may well move around quite a lot overnight.

There are contracts that we offer that can help protect you from adverse market movements or to take advantage of a spike in your favour without needing to be available 24 hours a day. Feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to have a no obligation and confidential discussion to explain how I may be able to help you.

Do you enjoy our market information? Just in case you were not aware then we can actually help you with currency exchange too! (Daniel Wright)

It has now been over 5 years that we have been consistently updated this site with market information and non biased forecasts on how we feel the Pound may perform against most major currencies in the future.

We now have over 100,000 unique visitors to the site and I thought it would make sense for me to remind you all that we can indeed assist you with currency exchange too.

All of the writers on this site including myself work for an award winning currency brokerage with a turnover of half a billion pounds worth of currency a year. So far we have had thousands of new clients contact us looking for a better deal than their bank or current broker and we have been only too happy to offer them both a better rate of exchange than than they have been offered elsewhere but also a much more efficient and proactive service.

If you transfer currency on a regular basis or you have a one off larger transaction to carry out either for your business or to buy an overseas property then it is well worth contacting us.

Feel free to fill in the form on the right hand side of this page and one of our friendly and helpful brokers will call you personally to discuss the various options available to you. We deal with transfers ranging from a few thousand pounds to multi million pound deals, we have tens of thousands of regular clients ranging from pensioners that live in France to Premier League footballers so can cater for anyone.

If you would like to speak to me (Daniel Wright) the creator of the site about a specific requirement then feel free to email me on djw@currencies.co.uk and I will be happy to get in touch.

Pound may surge in trading tomorrow morning if BOE minutes give a nod towards a rate hike (Daniel Wright)

Sterling exchange rates have the potential to creep up over the course of trading tomorrow morning as we have both the Bank of England minutes and the inflation report.

Interestingly enough the BOE are due to change the amount of meetings they have from 12 to 8 which I found out yesterday.

The key really will be how many members of the BOE voted in favour of an interest rate hike, should we have even one more member now in favour of a hike in rates then Sterling may rise off of the back of it as an interest rate hike is generally seen as extremely positive for the currency concerned.

If you have a currency exchange to carry out either now or in the future then it is well worth getting in touch with me personally. I can help you not only get a great rate of exchange but also with the timing of your transaction. Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to get in touch personally to speak to you.

Pound Sterling Forecast – The week ahead… Economic data which may affect Dollar, Euro, Australian Dollar, Canadian Dollar, New Zealand Dollar and Pound Sterling exchange rates (Daniel Wright)

We have had a reasonably quiet start to the trading week but I thought I would take a look at what the rest of the week has to offer.

This evening we have the RBA (Reserve Bank of Australia)  meeting minutes from the last Australian interest rate decision. Any indication on future interest rate cuts or a change in fiscal policy may lead to Australian Dollar movement overnight. It has been Governor Glenn Stevens that has time and time again suggested he would like a weaker Australian Dollar and he is finally now getting what he has asked for. It would not surprise me to see comments from him that may make the Australian Dollar a little weaker.

The rest of the day tomorrow is fairly quiet all round however we have another late night release for those with an interest in Australian Dollars with a flurry of inflation data for Australian and then Glenn Stevens speaking shortly after.

Wednesday will no doubt be interesting and volatile for Sterling exchange rates with the Bank of England minutes coming out from the last interest rate decision in the U.K. Most important will be how many members of the BOE have voted in favour of an interest rate hike. Recent comments by Governor of the BOE Mark Carney have led to Sterling strength so another nod towards a potential hike may give the Pound a boost.

Shortly after this we have the inflation report and this can also lead to a volatile period for Sterling. This is released at 10:30am and I would expect a jumpy market during this period.

An interest rate decision is then the main focus later on which comes from New Zealand and then Thursday only really has Canadian retail sales figures to offer in the latter part of the afternoon.

Finally on Friday we have some manufacturing data for Europe throughout the course of early morning trading  rounded off with New home sales over in the states in the afternoon.

If you have a currency exchange to carry out either now or in the future then it is well worth getting in touch with me personally. I can help you not only get a great rate of exchange but also with the timing of your transaction. Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to get in touch personally to speak to you.

GBP/EUR Rates hit highs of 1.435 (Joshua Privett)

While Greece has agreed to the current terms of the bailout, we are still waiting for the treaty to be ratified by other European governments before it can be confirmed, which is why the rates are currently still climbing. People are nervous about Britain’s current objections towards providing loans, and many in Germany are still advocating that Greece temporarily leave the Euro zone until they recover. So the potential Grexit, and by association the Euro, are not out of the woods yet.

This is an issue that will continue over the weekend and into next week. There is potential for even greater rates to be made available before the inevitable correction once the bailout passes through the various levels of the European parliament.

To take advantage of a specific economic event, you can put a limit order into the market which will buy your currency when it hits a particular rate, even for a few moments. Or a stop loss order to buy your currency if it drops a cent following a solid ‘agreekment’ and you want to buy before it drops any more. Email me on jjp@currencies.co.uk to discuss how to implement this overnight, and make sure you buy at the absolute top of the markets. 01494 787 478

Why sterling will rise further!

The pound has gone from strength to strength in the last week as investors worst fears over Greece fail to materialise and the strong likelihood of the UK raising interest rates comes sharply back into focus. Markets and investors look for safe bets and it seems a fairly safe bet at the moment the UK will be one of the first leading economies to raise their base interest rate. Interest rates are a key aspect of any currency as the higher an interest rate the more likely it is that currency will strengthen. So for example if investors believe the UK will raise their interest rate in the coming months investors will buy into the pound expecting the value of it to rise in the future.

All in all there is a strong likelihood the pound will rise and rise particularly if the Greek affairs pass off successfully and UK data keeps helping show improvements. The strength of sterling was not even dented by news today that Unemployment had unexpectedly risen. This just shows how confident market participants are in the value of the pound so if you need to buy or sell sterling taking stock of this current forecast is I believe a very sensible move. For more information on all of your options please contact me Jonathan on jmw@currencies.co.uk

Greek Banks have little Resources Left, A Deal is sure to be on the Cards (Daniel Johnson)

The  referendum “no” vote was meant to be used as a bargaining chip to be used against Greece’s creditors, however the strength of this bargaining chip is questionable. With Greece’s Finance Minister Varoufakis’s resignation a deal may be on the cards. The new Finance Minister Tsakalotos has a far more agreeable stance on coming to an agreement.

Greece’s banks are now down to less than €500m, emergency funds are needed sooner rather than later. A deal for a bail out could be coming very soon. If that is the case expect the Euro to strengthen over Sterling. If you have a Euro requirement it would be the safe option to get your trade done.

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.

Rates still remain steady awaiting the next move regarding Greece (Daniel Wright)

As another day passes without an agreement regarding Greece the GBP/EUR rate of exchange has remained rather steady apart from a quick Sunday night spike once again as covered in the previous article.

This is still having an impact on all major currencies and continues to be the main talking point on the currency markets at present. Any news to do with Greece is having an effect on global attitude to risk which can impact the perceived safer havens (USD,CHF) and also the riskier currencies (AUD,NZD,ZAR).

When it looks like there may be an agreement in place you would expect the safer havens to weaken off, making them a little cheaper to purchase and the riskier currencies to get stronger as confidence and certainty creeps back into the global market.

Should this really blow up and no agreement be made then I would not be surprised to see Sterling head back down towards 1.50 against the Dollar and to potentially break through the 2.10 mark against the Australian Dollar for the first time in many years.

I really do hope for the Greek people that something is resolved soon as for the general public over there this is far from ideal and I really do feel for them.

The next 24-48 hours will be vital not only for Greece but for where currency rates will head next I have no doubt about that. I personally would not be surprised to see something cobbled together to patch over the problems which may give the Euro a little certainty and strength for the time being and that we will be talking about this situation for many months to come!

If you have a currency exchange to carry out either imminently or in the coming weeks or months then it may be prudent to contact me directly as I will be able to help you both with getting a fantastic rate of exchange and with timing the transfer as well.

Feel free to contact me (Daniel Wright) personally on djw@currencies.co.uk and I will be more than happy to get in contact with you to discuss your currency needs.

Greek people vote ‘NO’ in referendum on bailout conditions (Joshua Privett)

British and European trading markets have not even opened yet, but GBP-EUR exchange rates have already gone beserk on the markets. Last night, in the space of 10 minutes, they went from 1.401 to 1.415! Since then they have now calmed down and dipped below 1.41 to 1.408.

This is why I am up at 4am this morning, to get an idea of how the value of the Euro has behaved on other markets overnight to give a rough idea on what to expect today when UK and European markets open for trading. So it seems we will expect some heavy initial spikes in the morning, which will likely have a large correction as we progress further into the day.

It would not be a stretch to say that the GBP-EUR rates on offer today could be the best available for the rest of 2015. This Greek referendum was called as a negotiation tactic for the Greek government to recieve a better bailout deal through a popular mandate. Essentially as a nation they are saying ‘we won’t accept this, so offer us something more palatable if you want to see any money paid back at all’. So while this is currently causing chaos in the markets at the moment, the results will be used to try and achieve long term stability for Greece and the Eurozone in partnership.

So the rates today will move heavily in the favour of Euro buyers, but these will be settling down by the end of the afternoon. After that, talks will resume with Greece, and both sides will now have a greater urgency to achieve some kind of deal. Greece is almost out of money, and the Eurozone needs to offer something new if these damaging talks to their reputation will end anytime soon. As we have seen in the past, positive steps in the negotiations have moved GBP-EUR rates down by 6 cents in 7 trading days, which is why I believe whatever highs we reach today could be the best available in 2015. Sterling should strengthen against most major currencies.

Those with Euros to buy should call into 01494 787 478 today and ask for Joshua to receive a free quote on their exchange and some advice on how to buy at the high of the day (or year…). Those who do not have a requirement until later in the year do not have to wait until then and miss out, these rates can be pegged at no additional cost so that you do not have to hope the rates you have to purchase at will be in the same league as they are today. jjp@currencies.co.uk

 

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