Tag Archives: GBPEUR exchange rates
Two Important considerations forecasting Pound Sterling Exchange Rates
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 jmw@currencies.co.uk
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 jmw@currencies.co.uk for the very best rates and latest news on what will move your rate!
Jonathan
Markets await GDP data from Europe with GBP/EUR at 1.2050 (Ben Amrany)
The pound has been range bound against many of the majors so far this week with rates hovering around 1.2050 against the Euro, 1.6650 against the USD & 1.80 against the AUD. With very little data out during the early part pf the week for the UK eyes have been firmly set on data from Europe and the US to drive global markets. Having said this the UK did post some fairly poor manufacturing data yesterday and if we see the same trend for the construction sector today the pound could be in for another day of losses.
We are also expecting the GDP figures for the Euro zone out at 10.00 am this morning. We are not expecting any significant change in the number so GBP/EUR may be flat on the day. Tomorrow though the ECB will announce their latest interest rate decision for April. With the rate of inflation still falling within the single currency many analysts are calling for the central bank to cut interest rates to combat the fall in inflation. It has been a similar theme over the last 2-3 months and the ECB have stated in the past that they are not overly worried about the inflation rate and that things will settle down on its own accord over time. These comments in the past have gone to strengthen the Euro and if the same happens tomorrow we could see further EURO strength. Also keep an eye out for the retail figures which will be released before the interest rate decision tomorrow morning. This could bring a window of opportunity between the two releases.
I hope you enjoy our informative posts to help you judge when you should be looking at converting your funds. There is no set rule as to when is the best time but if you do have a requirement to buy or sell the pound then I will be delighted to help you try and judge when to look at your conversion. If you are reading the info here and were planning on using your bank why not let us give you a quote to show you what the savings can be over the high street banks. The savings can be significant as this is a volume driven business and due to the volumes we exchange we can normally beat the banks time and time again.
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at bma@currencies.co.uk
Will the pound weaken again?
Sterling has found favour today due to the impressive Retail Sales figures showing the UK is on the up. Sterling seems to have shaken off the more recent wobbles and is now looking like a safe bet to make further gains in the future. If you need to make a transaction involving the pound, I would strongly recommend speaking to us to find out the very best rates of exchange and allow us to explain the current forecast. Please feel free to drop me a line on jmw@currencies.co.uk
The outlook on the pound is positive and the recent euro gains against the pound look set to be on the back burner for the time being. If you need to sell euros to buy the pound then I would focus on making the transaction sooner rather than later as the longer term prediction would appear to favour GBP. The main driver in this situation will be the likelihood of any interest rate hike, tomorrow’s UK GDP data whilst old news, could act as a very interesting trigger for further GBP strength.
We are currency specialists, experts in forecasting and managing client risk to the foreign exchange market. If you need to make a transaction and want the very best rates and service please contact me Jonathan on jmw@currencies.co.uk. I am very confident of being able to undercut any other firms and save you money.
Sterling Continues to fall creating excellent opportunities to sell Euros into Pounds (Tom Holian)
Sterling has fallen against the Euro for the fifth day in a row fuelled by the comments last week that the Eurozone growth forecast has been upgraded for 2014, 2015 and 2016. Yesterday comments from Bank of England deputy governor Charlie Bean made it rather clear that there is little urgency for interest rates to be raised any time soon and it is mainly dependent how the economy will perform over the next few months. The tone is very different from the recent rhetoric provide by Mark Carney who has generally provided the economy with stability.
Yesterday EU Industrial production data released showed a higher figure at 2.1% which provide the Euro with further strength. However, it is clear that the EU has some time to go before things dramatically improve. This morning Mario Draghi will provide us with the ECB Monthly Report and this will be key for short term movement for GBPEUR exchange rates. If you’re looking to sell Euros soon it’s worth getting in contact with me to discuss your options and the process of how we can save you money compared to using a bank to exchange Euros. Send me an email directly Tom Holian teh@currencies.co.uk
Having helped thousands of individuals save money on exchange rates over the last eleven years I’m confident I can help you too.
With inflation running rather low in the Eurozone recently there was a very small change that interest rates were going to be cut at this month’s meeting. However, there was no change and the ECB have confirmed that inflation will be not a catalyst in changing interest rate policy which has led to the Euro gaining against the Pound this month. Already since the start of March we have seen rates move by 2% from the high to low.
With the European industrial sector showing signs of improvement and the ECB Monthly Report due out this morning I think we could see rates challenge 1.19 this morning on Interbank levels.
If you have a currency requirement to make and want to save money on exchange rates then contact me directly Tom Holian teh@currencies.co.uk
Sterling weakness up ahead? Why now is a good time to buy the pound
Jonathan Watson
Currently sterling is well supported largely due to the strong likelihood of the UK raising interest rates next year. Investors are taking up positions on sterling in anticipation of better returns in the future. 80% of currency transactions are speculative and whilst this is not a topic we deal in for clients , it is a topic that is extremely relevant in determining future market movements for our clients.
Longer term sterling appears bound to increase significantly as the prospect of ultra low interest rates becomes the past. The pound has been flirting with 5 year highs on a trade weighted basis which when you consider interest rates have been at rock bottom for 5 years makes sense.
Since we won’t actually see any actual hike for some time there is certainly a good chance of more GBP weakness but it will be in pockets and not reflective of a greater downward trend. If you are going to need to purchase the pound in the future moving sooner is I believe the best course of action. Please contact me directly for assistance in sourcing the best rates and the optimum peaks to trade on. I assure you of being able to beat the banks and currency brokerages.
Many of my clients selling say Euros and Dollars after a property sale are quibbling over the fact they are trading at multi year lows. I wholly sympathise with these clients because when you do the calculation on the losses selling six figure sums in the last year they are substantial. But if you look further back say at the 10 year and 5 year figures you will see current rates are not so bad.
Take Mr Smith in France for example, who may have purchased there when rates were say 1.50. Imagine buying a 200,000 Euro property at 1.50. This would have cost you 133333.33 GBP. Fast forward ten years and unfortunately he has had to sell to come back to the UK and had to take a hit on the price. He had to sell for 175,000 Euros and was not happy at having lost 25,000 on the price. However he managed to get 1.20 on the rate which means his 175,000 Euros are actually worth 145833.33 GBP. Suddenly it is not such a bad deal and when he considers all the fun times he had there, the whole experience has actually not been too bad!
This just shows the importance of exchange rates when considering overseas transactions. Sterling is at a very good level now which may yet improve. Understanding what is driving exchange rates is critical to getting the best deal. For more information on the forecast for your particular situation please don’t hesitate to contact me directly on jmw@currencies.co.uk
