Tag Archives: exchange

Sterling weakness likely ahead, will you you need to make a GBP exchange in the coming months?

The likelihood of further GBP weakness is strong as it becomes less and less likely the Bank of England will be raising interest rates any time soon! The raising and lowering of interest rates is directly attributable to the strength and weakness of a currency. Most certainly in the case of sterling investors will be buying the currency in the hope of the interest rate going up in the future and the currency then being worth much more. Just like a higher interest rate at a bank will encourage investors to put money into that account, so will investors buy a currency if they see that central bank are planning to increase their interest rate since it makes it more likely that that the currency will be worth more in the future.

The pound’s strength is therefore very closely linked to the state of the UK economy and to attitudes to when the Bank of England is likely to raise interest rates. The upshot for anyone who is looking to buy or sell the pound is a a clear pathway as to the intent and expectations for the currency. The difficult part is predicting just how the economic data will turn out! On balance it seems the pound will remain strong but with the latest Inflation news making very clear the Bank will not be raising interest rates any time soon if you are holding on hoping sterling will just keep rising in value you might end up disappointed.

I strongly expect that the pound will lose value in the run up to Christmas as UK economic data shows us that the UK economy is not performing as well as many had expected. The dangerous thing that we cannot really plan for is what happens elsewhere! There is a strong likelihood that the Eurozone will revisit their QE programme and the US will raise their base interest rate. Expect this to cause further Euro weakness and some strengthening of the pound as investors move funds from the Euro to the pound. The key dates are 2nd December (ECB Meeting) and the 18th December (Fed decision).

If you are planning any currency exchange buying or selling the pound for the rest of 2015 or early 2016 making some careful plans now is a very good idea as there is a strong likelihood the rates on offer today will change for the reasons above. To receive updates or learn more about all of your options when transferring money overseas or back to the UK please email me Jonathan on jmw@currencies.co.uk, I am very sure I can offer some useful insight and an exchange rate that will save you money.

Sterling exchange rates remain flat today – What is due out in the coming days that may impact the Pound (Daniel Wright)

The Pound has not really given us a huge amount to feed off of today however there are still a couple of important data releases due in the coming days that may impact your rate of exchange.

Tomorrow morning we have German growth figures which will no doubt impact the Euro in early trading and shortly after this we have a speech from the Governor of the RBA Glenn Stevens speaking over in Australia which is key for those with an interest in either buying or selling Australian Dollars.

Later in the afternoon we have a flurry of figures from the States which will keep tongues wagging about the interest rate hike and then after a fairly quiet morning for economic data on Wednesday we have lots more data from America including durable goods orders which are expected to show a slight improvement.

Personally I feel that this week we may remain fairly range bound against the Euro, we may lose a little ground against the Dollar if U.S data is good and I feel we may gain back a little of our recently lost ground against the Australian Dollar.

If you have a currency exchange to carry out in the next few days (or even in the coming weeks and months) then it will be well worth you getting in contact with me (Daniel Wright) directly.

I can help you both in terms of getting you a better exchange rate than you are able to achieve elsewhere along with helping you time when you buy the currency as this can make an even bigger difference.

All you would need to do to make an enquiry with me is to email djw@currencies.co.uk with a brief description of what sum you are looking to exchange and the timescales you are working to and I will be more than happy to assist you.

A quiet day for the Pound tomorrow – Euro and Canadian Dollar in focus (Daniel Wright)

We have very little due out from the U.K tomorrow in terms of economic data with perhaps Public Sector Net borrowing figures the main data for the markets to feed off of which is out at 09:30am.

For those with an interest in Sterling/Euro exchange rates you may wish to take a look at the markets fairly early on as we have head of the ECB (European Central Bank) Mario Draghi speaking at 08:00am and this may lead to early morning volatility depending on what he actually says.

Later on in the day we have Canadian inflation figures and with expectations for a minor drop towards 2% year on year this may not have the biggest impact on Canadian Dollar exchange rates unless we see a surprise figure.

All in all, unless Draghi drops a bombshell we may be set for a fairly quiet day on the currency markets tomorrow but always be aware it is always these sort of days that tend to throw up a surprise or two. Always keep an eye on rates on a Friday afternoon too as sometimes large positions can be netted off leading to a sharp and rapid exchange rate movement without any prior warning.

If you have a currency exchange to carry out either soon or at some point in the future then we can help you with this here at Pound Sterling Forecast.

All you need to do in order to find out about our services and to get a free, no obligation quote then feel free to contact me (Daniel Wright) directly. You can email me on djw@currencies.co.uk and I will be more than happy to contact you personally.

GBP/EUR Above 1.4250 (Daniel Johnson)

After the atrocities in Paris on Friday, I had expected to see more movement on GBP/EUR. Today however has seen the inflation figures and there has been an improvement from last months -0.1% which was  only the second time in the last 60 yrs that we have been in deflation. Figures came in at 0.1% and we have seen GBP/EUR climb into the high 1.42s.

I think this provides an exceptional opportunity for Euro buyers, we are currently sitting at some of the best levels in the last 8yrs. I think GBP is currently overvalued and hanging on could prove costly.

At present I am putting through consistent large GBP – EUR trades as clients try to take advantage of  current market conditions. I will be happy to tag new clients on to these trades in order to provide a very competitive rate. I can guarantee to beat any Competitors exchange rate.

Thank you for reading our blogs I really appreciate it. I would be more than happy to assist with any of your currency requirements and I take pleasure in replying personally. Please don’t hesitate to get in touch, I can be contacted on 01494 7874787 or alternatively by e-mail on dcj@currencies.co.uk .

Sterling exchange rates set for a busy morning of inflationary data tomorrow (Daniel Wright)

First and foremost I would like to offer the thoughts and prayers of all writers here at Pound Sterling Forecast to France.

I for one will be belting out the French national anthem at the England – France game tomorrow at wembley just to help prove that the world is with you and that we are all in this together. All the majority of us want is peace.

Back to currency and the Pound is indeed set for a busy morning on the markets tomorrow morning as we have the Bank of England inflation report and then a flurry of inflation data to follow later on in the morning.

Inflation has been a key concern for the BOE of late and that will no doubt be highlighted in the report, this may lead to a little Sterling weakness initially if that should happen. The report is due at 9am.

Shortly after this at 09:30am we have all inflation data out at once, a slight move north from the -o.1% we saw last time for CPI (Consumer Price Inflation) may give Sterling a boost back in the right direction however of course if we see the opposite then the Pound may be in for a bad day.

If you are due to carry out a currency exchange involving buying currency with Sterling or bringing money back into Pounds then I can help you. The brokerage we all work for turns over half a billion Pounds worth of currency a year so we can get extremely good rates of exchange for our clients, we also pride ourselves on the very highest level of customer service too.

If you would like to enquire as to how to use our services or just to get a quote then feel free to contact me (Daniel Wright) directly by emailing Djw@currencies.co.uk with a brief description of what you are looking to do and a contact number and Iwill be more than happy to contact you personally.

Sterling exchange rates up against Euro and Dollar yet down against Australian Dollar (Daniel Wright)

The Pound had a mixed day against most major currencies yesterday, making slight gains against the Euro and Dollar yet losing ground against the Australian Dollar overnight.

Unemployment levels showed an improvement to 5.3% for the U.K yet average earnings actually dropped off so employment data released in the morning more or less cancelled each other out.

The Euro is particularly shaky as it stands with fairly dovish comments from the Head of thew European Central bank Mario Draghi speaking this morning not helping and pushing the Euro to a three month low against Sterling meaning it is the best time to buy Euros in the past three months!

The Dollar has been a funny character of late and I believe that there is still scope for it to drop back towards 1.50 should the wheels remain in motion for an interest rate hike in December.

Regarding the Australian Dollar we had a big surprise as unemployment figures came out much better than expectations, leading to Australian Dollar strength overnight and pushing rates back into the 2.12 region. What is surprising at present is that the Australian economy is standing tall once again in the midst of a Chinese slowdown.

The Australian Dollar is showing as good a defence as the Australian rugby team did in the rugby world cup, much like it did in the European crisis but I am still firmly of the belief that at some point we will see a Nonu time crumble and the rate may make it back to 2.20.

If you are looking to purchase Euros, Dollars, Australian Dollars or any other major currency and you want to make sure that you get the most for your money then it is well worth you contacting me directly. You can email me (Daniel Wright) on djw@currencies.co.uk with a brief description of your requirements and the timescales you are working to and i will be more than happy to contact you personally.


U.K Growth figures to be key for Sterling exchange rates tomorrow (Daniel Wright)

Tomorrow (Tuesday) morning at 09:30am we see the release of growth figures for the U.K and they should really set the scene for the rest of the day for Sterling exchange rates.

The Pound had a fairly flat day against all major currencies as the market had very little economic data to feed off, however I would expect this to be slightly different in trading tomorrow.

Expectations are for a slight drop off for quarter on quarter growth to 0.6% but for year on year figures to remain at 2.4%. The key thing to look out for however is if the market release comes out any different than analysts have predicted. Currency market move on speculation as well as fact so you will tend to find that in advance of a data release the market prices in expectations.

More often than not, analysts predictions are slightly out and this can lead to a spike or drop in the value of a currency.

With Retail Sales figures being fairly strong but recent services and construction data leading to a mixed bag for the U.K we may well see a slightly different figure tomorrow morning and Sterling may either strengthen or drop off within seconds of the figure coming out.

If you are in the position where you may need to buy foreign currency with Sterling or to sell another currency to buy Pounds then it is extremely important that you have an experienced and proactive currency broker on your side.

If you are in this position and you would like assistance both with the timing of your exchange, whilst getting top level market rates when you do decide to book it then it makes sense to get in touch with us directly. You can either fill in the form on the right hand side of this page or you can email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to contact you personally.

GBP/EUR rates up at 1.39! (Joshua Privett)

GBP/EUR is one of the few currencies that Sterling has gained against today, with markets still digesting the news that the European Central Bank may be extending their Quantitative Easing program beyond the September 2016 deadline, and were considering cuts isolated to current account rates in the Eurozone economy.

Yesterday GBP/EUR got a significant boost from inflated UK retails sales figures for September (a nice bump from the Rugby World Cup) announced in the morning, as well as the announcement mentioned above of a longer period of emergency stimulus being required for the Eurozone.

The news itself reduced long-term investment in the Euro as a result. Many investors had bought into the Euro recently due to its relative cheapness, and the promise of higher returns once QE was lifted at the back end of next year. This is now in doubt, and these investors moved out of the Euro, reducing its value with an the immediate and isolated mass sell-off. This has since extended into today’s traded with companies changing their long term plans involving Eurozone investment.

It must be noted that if a rate cut does occur, this will be confirmed at the end of December at the earliest because this is the next meeting of the European Central Bank.

So it seems Euro rates will largely be in limbo until confirmation of potential rate cut at the end of 2015.

With little data out until Tuesday next week, rates will likely fall away from these two month highs due to increased demand for the cheap Euro. This happened today with a fall half a cent away from the highs of midday.

As a warning, after Tuesday this fall may not be gradual when GDP data for the UK economy is released. The results from the previous two months have caused Sterling weakness due to repetitive contractions in GDP forecasts as a result of a flagging manufacturing and construction sector (not helping the current lack of houses…)

I strongly recommend that anyone with a Euro requirement before 2016 should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer to maximise your Euro return. I can also provide a competitive quote on your transfer should you wish and I have never had any issues beating the rates offered elsewhere. These current rates can also be pegged to avoid your budget continually changing over the coming months. 

Sterling Strengthens over All Major Pairings (Daniel Johnson)

This morning has seen Sterling gain ground on all major currency parings. UK Retail Sales figures came in far better than expected. Last months figures came in at -0.4%. this months predicted figures were 0.3%, but we had a considerable jump to 1.9%. It may be advisable to get a trade done if you are purchasing anything but the Euro.

This was followed by the ECB monetary policy statement where Draghi indicated they are willing to lengthen and increase QE. If you have a Euro requirement it is looking exceptional, I would be looking to move. Alternatively you could procrastinate waiting for 1.40 and lose out.

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 will guarantee to beat any bank or brokerage’s exchange rates.

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.

Pound Sterling Forecast – Get the most for your money on your currency exchange (Daniel Wright)

We have tens of thousands of clients reading this site each month and I hope that you all find it of use!

For those of you that visit on a regular basis that are not aware – We can actually carry out currency exchanges for you too.

All the writers of this website all work for an award winning foreign exchange brokerage based in the U.K and pride ourselves not only on getting our clients fantastic rates of exchange but also ensuring that they receive the highest level of customer service.

Whether you have  bills to pay overseas, you are in the process of buying or selling a property, your business has the need to exchange currency or any other reason you may find that you need to send money abroad or bring it back then it is well worth contacting us directly.

We have had thousands upon thousands of clients contact us through this site over the years that have saved money over their current currency provider. This includes those that planned to use the bank and even people that have shopped around brokers before and used a broker for years..  It is extremely rare that we would not be able to get you a better price no matter your needs.

To take a look at our site and make an enquiry with one of our experienced and friendly brokers click here or feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be happy to call you personally.


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