Tag Archives: exchange

Sterling exchange rates drop to start the day only to recover – Theresa May to speak tomorrow at 11:45am (Daniel Wright)

The Pound had a bad start to the week, dropping against most major currencies in the Asian market session on Sunday night.

By the time we entered the trading floor rates had started to recover a little and U.K Manufacturing data released this morning helped to push the Pound back closer to where we saw it end last week.

Sterling really is having a rough ride of things lately and we are seeing multi month and even year lows against some major currencies. The GBP/AUD rate almost hit its lowest point since 2013 on Sunday night, giving those looking to bring Australian Dollar sellers into Pounds a great opportunity to repatriate their funds.

Now that the dust has settled on an extremely busy trading day we look ahead at what to expect tomorrow.. And it certainly does not look like a quiet one.

We have a flurry of inflation data out over the course of the morning for the U.k, with inflation expected to have risen ever so slightly. This is not a great surprise with the low value of the Pound and the Bank of England to have slight concerns over this so they will be looking to avoid the rise in inflation being too sharp.

The main event of the day will be Prime Minister Theresa may speaking about all things Brexit at 11:45am. Personally I feel we will just here more of the same comments that we have had come out from recent interviews but anyone with a currency requirement involving either buying or selling the Pound should still be poised and ready for action.

Investors and speculators alike will be moving off of every word and looking for any hints on what we are to expect so the market may be extremely volatile during this period and for the rest of the day.

If you are in the position where you are buying or selling a property overseas, your business moves funds between currencies or you have a foreign currency requirement for any other reason then it is key to keep a close eye on rates in the coming days, weeks and months ahead.

We keep our clients fully up to date with market movements and also assist with large foreign exchange transfers too. I created this site over 7 years ago to help people with market information but we also welcome new clients to assist with their money transfers on top of this.

Should you be in the position where you may need our service, you are getting rates from another broker that you don’t feel are the best or you merely want to have an efficient, pro active and friendly broker on your side then feel free to contact me (Daniel Wright) directly. You can email me on djw@currencies.co.uk with a brief description of your needs and I will be more than happy to get back to you. Alternatively feel free to call our trading floor on 01494 787 478 and ask for me (Daniel Wright) anytime from 08:30am until 18:00pm GMT.

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.

Pound slides as May comments lead to ‘Hard Brexit’ being more likely (Daniel Wright)

Sterling exchange rates have taken quite a tumble in early morning trading today, following comments from Prime Minister Theresa May over the weekend suggesting there is a higher possibility of us looking for a ‘hard brexit’ and that control of our borders appeared to be a higher focus than remaining in the single market.

Why does a hard brexit weaken the Pound?

A hard brexit leads to Sterling weakness because it could seriously hamper trade for the U.K and a report from the centre for economics and business research discovered that all sectors that create wealth for the economy would be negatively effected. Obviously a lot would depend on any agreements that get put in place but these may take a great deal of time and the worry is that it is highly doubtful that any agreement that is eventually sought does not end favouring one sector over another, which would mean someone will end up missing out.

What this does create is uncertainty for all sectors within U.K trade and uncertainty is extremely bad for an economy, a company and most importantly for a currency so this has led to the Pound dropping off and losing value all morning so far.

Supreme Court decision to change things?

One factor that may turn around the form of the Pound is the eagerly awaited Supreme Court decision on whether to overturn the need for Thesera May to have to put the triggering of Article 50 through Parliament before moving forward.

Should the Supreme Court stick with the original decision then there is a chance members of Parliament will aim for more of a say in how things are handled which may stop a full on ‘hard brexit’ and could also slow down the process a little which would hopefully give the Pound back a little strength.

On the flip side, a decision to overturn the original result may kick the Pound whilst it is down and the Sterling exchange rates may get even weaker again.

They are back together on January 11th and we expect to see a decision in the few days after this, what this does mean is that if you have a currency exchange to carry out you need to be poised and ready to react quickly.

If you are fairly busy day to day and you do not have time to watch the rates (which move by the second) then why not let one of our dedicated, helpful and friendly brokers do this for you. We have a variety of tools available to assist you in maximising your rate of exchange including rate alerts, limit orders and forward contracts.

Should you need to carry out a currency exchange involving any major currency for you business, a property purchase/sale or any other reason then feel free to contact me (Daniel Wright) on djw@currencies.co.uk personally. Please leave a brief overview of what you need to do and I will personally contact you to discuss the options available and to tailor a game plan. Please note we do not deal in cash or travel money. You can also call our trading floor on 01494 787 478 please quote Pound Sterling Forecast and ask to speak Daniel Wright.

 

 

 

Economic data out this week to impact your currency exchange (Daniel Wright)

First and foremost a Happy New Year to all of our regular readers along with those visiting the site for the first time!

We have had a slow start to the year for Sterling exchange rates, very much like the past few weeks where the Pound has dropped off a little against most majors but there is plenty for the market to get its teeth into this week that may turn that trend around.

Tomorrow morning we have PMI Construction data for the U.K for December, and with the weather in December being considerably better than that of last year I would not be surprised to see a slight improvement year on year.

Later tomorrow evening we also have the Federal Reserve meeting minutes from their last interest rate decision. This can impact all major currencies as any comments on future interest rate changes may lead to a great deal of money moving around the world.

on Thursday morning we have Markit services PMI for the U.K in December. With the services sector being responsible for a large part of the growth figures in the U.K this can also be extremely important and expectations are for a slight drop off from the previous month, however I would not be surprised to see something a little more favourable in what may be a good week for Sterling exchange rates.

Finally on Friday we have another fairly bit data release over in the U.S in the form of Non-Farm Payroll data. Non-Farm data is the number of people in Non-agricultural employment (due to this being seasonal) and can have a huge impact on global attitude to risk.

Predictions for this data release can be way out so the market may price in one result yet the release can be quite a bit different so if you have the requirement to move any currency anywhere in the world then it is worth keeping your eye on the market at 13:30pm on Friday afternoon.

Here at Pound Sterling Forecast we do not only pride ourselves on providing regular and non-biased market information but we all work for one of the top foreign exchange brokerages in the U.K too.

If you have a currency requirement either now or in the coming months and you would like to maximise your exchange rate then we can also help with that too.

Feel free to contact me personally with  brief description of what you are looking to do and I will be more than happy to get in touch with you. We deal with bank to bank exchanges ranging from smaller sums up to multi-million Pound transactions, unfortunately we cannot assist with travel money.

All you need to do is email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to get in touch with you at the earliest possibility.

 

Sterling still struggles as investors seek a safer haven to bring in the new year (Daniel Wright)

The Pound is not having the greatest end to 2016, particularly against the Dollar.

It appears investors and speculators are stepping away from Sterling and taking their profits after a slight gain seen by the Pound over the past few weeks of trading.

As we ease into the final few days of the year there are no major signs that this will turn around so if you have a foreign currency to purchase with Sterling in the next few days it may be prudent to look at doing something sooner rather than later.

As we move into 2017 the main focus will be on the actions of the Supreme Court and whether or not they do decide to overturn the ruling over article 50. Sterling exchange rates may move suddenly straight after the result is released and following this I would not be surprised to see yet another bout of jawboning, speculation and issues hanging around the matter that will no doubt add to the market volatility.

My personal opinion is that although this may be a potential banana skin, I feel the Pound is still greatly undervalued and that Sterling exchange rates should have a good recovery to look forward to, we just need to get all of the negative press out of the way first!

If you are looking to carry out a currency exchange in the coming days, weeks, months or indeed years then it is well worth getting in touch with me personally. The company that we all work for assists clients with large currency exchanges day in, day out and we have a base of over 90,000 satisfied clients.

We pride ourselves on highly competitive rates of exchange along with the very top level of customer service, and I would be extremely surprised if we could not save you money over your bank or current broker, along with offering you a smoother service.

Feel free to contact me (Daniel Wright) by emailing djw@currencies.co.uk and I will be more than happy to get in touch with you personally to discuss the various options available to you and answer any questions or queries you may have too. I look forward to speaking with you.

Sterling not feeling the festive spirit in the lead up to Christmas (Daniel Wright)

The Pound does not appear to be too jolly in the lead up the Christmas showing slight losses against most major currencies so far this week.

We have a few key economic data releases in the next few days and with slightly thinner trading levels during this time of year you can see larger swings than normal off the back of normal economic data.

For anyone that has a currently requirement coming up in the next few weeks you must be aware that leaving a position open over the festive season can be a risky strategy, especially if you are not going to be fully available to watch the markets or transfer funds should there be a big movement in your favour or against you.

Public sector net borrowing figures have been released this morning for the U.K were a little worse than expectations and we also have Consumer Confidence figures out overnight tonight and GDP (Growth) figures on Friday morning.

This is not to forget that we also have the on-going and well publicised Brexit talks and the pending Supreme Court decision on article 50 which will no doubt lead to  a large market movement. Expectations on the result of this decision are for early in January but as 2017 has shown us surprises can pop up and things do get leaked so do not be surprised if the market starts to move on rumours well in advance of this coming out.

All in all this year has been fairly jam packed with big political and Economic information which we hope we have kept you fully up to date with. If you carry out currency exchanges through your bank or a broker at present and you find our market information useful then why not give us a try. We do not only pride ourselves on providing up to date and non-biased market information but we also offer fantastic rates of exchange and a high level of customer service at the brokerage we work for too.

Pound Sterling Forecast has been running for 7 years and the brokerage we work for has been running for 17 years so we have a wealth of experience in assisting clients with currency exchanges so will be more than happy to help.

Feel free to contact me (Daniel Wright) directly on djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to contact you personally.

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. 

 

The ‘Trump Train’ market surge fades but Sterling manages to hold on to it’s gains, but for how long? (Joseph Wright)

The Pound has surged across the board through November for a number of reasons, with the main catalysts being the likely delay to invoking Article 50 and beginning the Brexit process, and Trumps election victory in the US boosting sentiment surrounding the UK economy.

Those planning on converting Pounds into another foreign currency have been dealt a good hand this month, as the Pound has gained clawed back quite alot of it’s losses since the Brexit vote.

This month alone the Pound has gained 5 cents vs the US Dollar and 7 cents vs the Euro. In monetary terms a £200,000 GBP to EUR currency exchange is now gaining an additional €15,000+ in the space of 30 days which just highlights the importance of timing large currency conversions.

As a specialist currency brokerage we’re here to monitor the currency markets on behalf of our clients, and in volatile trading conditions like we’ve seen this month our service can really save clients large amounts of money due to the assistance with timings and reacting to market movements.

There will be manufacturing and construction figures released later this week which could affect GBP exchange rates depending on their outcome, and if you are planning a currency exchange between the Pound and another major currency and would like to plan around these events, do get in touch regarding timings and exchange rates.

The Pound has so far held onto it’s gains made this month, but currencies do tend to fall quicker than they climb and if some ‘Hard Brexit’ related news is released there is a chance the Pound could lose some or even all of it’s recent gains.

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 and ask reception to speak with me (Joe) on 01494 787 478. 

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.