Tag Archives: GBPEUR exchange rates
GBPEUR has rocketed as Asian markets open and investors begin dumping the Euro in anticipation of the two most important days in the history of the Euro. What happens now will decide not just Greece’s fate but also the rest of the Eurozone. Sterling is benefitting rising against all currencies so far but to make a firm prediction on just what will happen is incredibly difficult.
There is a simple formula to follow here. As the uncertainty increases with no deal the Euro will weaken and the pound should rise. This will only be true up to a point where if Greece leaves the Euro the UK would suffer some financial losses. The USD will rise as it has done possibly significantly if Greece does leave. The commodity currencies like AUD, NZD and CAD are struggling with the uncertainty too!
If a deal is struck then the Euro should recover and sterling which had benefitted from safe haven funds, weaken. A deal is what I believe will happen because I don’t think the alternative is worth contmeplating! One thing is for sure the next couple of days are significant for anyone with a currency transfer to consider. If you wish to get the latest news and understand more about what is and will drive your exchange please contact me Jonathan on firstname.lastname@example.org.
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GBP/ EUR exchange rates fall off the back of Greek PM Alexis Tsipras new debt proposal. Dayle Littlejohn
Today Alexis Tsipras confirmed to the press he has issued a realistic proposal to eurozone ministers, in order for Greece to exit their current crisis. With a deal potentially now on the cards this Friday GBP/EUR exchange rates have dropped by over a cent. Going forward the Greeks owe €300mn this Friday, €300mn on the 12th, €600mn on the 16th and €300mn on the 19th. If a deal is reached regarding the next 4 payments I believe the euro will make further inroads against the pound and exchange rates will drop towards the mid 1.30s. If you are buying or selling euros and are looking for the ‘best’ exchange rate feel free to get in touch email@example.com and ask for a quote.
Today at 2pm factory orders (MoM) came in at -0.4%, which was 0.4% beneath the consensus and 2.6% beneath previous. The data has therefore weakened the dollar and GBP/ USD (also known as cable exchange rates) has risen back into the 1.53s from the 1.51s. This means clients that purchased USD today at the low compared to the high would have paid an extra £2,000. Therefore its crucial to have an understanding of the upcoming economic data releases when purchasing a currency. If you are looking to buy a foreign currency with sterling feel free to get in touch and ask for upcoming data releases and a forecast. Please call 0044 1494 787 478 or email me firstname.lastname@example.org.
‘Sterling loses significant ground as election uncertainty heats up’ could be a headline next week as the most uncertain election in years takes place. Sterling lost 5 cents in the weeks leading up to the election in 2010. The same was true of the Scottish Referendum. Can you really afford to take risks with so much at stake? Many people buying a foreign currency with the pound have been locking in on forward contracts lately to guarantee they won’t get a worse rate in the future.
If you are transferring currency in the coming weeks or months please don’t take the current rates of exchange for granted, it could end up very costly. The election is such a rare unique event trying to make firm predictions could be a big mistake. Having said that it seems reasonable to expect the exchange rate will drop as it has done in the past at such times.
If you need to buy or sell it might be a good idea to make some plans as major uncertainty is due. For more information on just what to expect and how to benefit from the uncertainty please contact me Jonathan on email@example.com
Sterling made gains against the Euro during yesterdays trading session after members of the Bank of England (BoE) indicated they are now sitting on the fence whether to vote yes or no for an interest rate hike. With interest rates being the single most important driver of a currency, if the BoE raised the interest rate this would give strength for sterling (more €s for the £). However an interest rate hike is not on the cards until 2016 therefore I believe Euro buyers should take advantage of the recent comments and therefore the current levels we are seeing.
What will affect GBP/EUR over the next month?
The two main drivers that will effect GBP/ EUR exchange rates within the next month are the UK General Election (Weakening Sterling) and a possible ‘Grexit’ (Weakening the Euro). Over the last month the ‘Grexit’ has been outweighing the UK Election, however as of Monday I believe the tides will turn. In the lead up to the last election, GBP/ EUR dropped by over 3 cents and I don’t think this election will be any different. Therefore my prediction is GBP/EUR will be around the 1.36 mark come the 7th of May.
Depending on the outcome of the election will depend on what happens to GBP/ EUR exchange rate. Please click here for a full report on the possible election outcomes. If you are looking to buy or sell Euros within the upcoming months feel free to get in touch by emailing me on firstname.lastname@example.org or alternatively call 01494 787 478 and quote Dayle Littlejohn.
GBPEUR exchange rates fell from the highs of 1.40 at the start of the day’s trading session to touching the lower end of 1.39 as UK Retail Sales came out lower than expected.
Excluding fuel sales retail sales were up but fuel purchases saw a 6.2% fall.
To me this could just be a short term blip as in the run up to the election I would not be surprised to see positive economic data to spur on voters at the election due two weeks today.
However, with the ongoing uncertainty surrounding who will lead the country I think we could see falls for the Pound as this happened five years ago when we witnessed a hung parliament.
The Eurogroup meeting due to held tomorrow will focus on Greece and as they are currently struggling with their debt arrangements any announcements surrounding this topic could have a big impact on Sterling Euro exchange rates.
In order to avoid the uncertain period ahead it may be worth considering a forward contract as this allows you to fix your exchange rates based on current levels.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian email@example.com
For many financial experts GBP/ EUR current exchange rates are a surprise. In recent elections around the globe the currency in question normally weakens months before. This is because of the uncertainty created. Therefore GBP/ EUR exchange rate in my opinion should be around the 1.35/1.36 mark. However in recent weeks GBP/ EUR has floated around the 1.38/ 1.39 level as Greece is counteracting any political uncertainty as they are still indicating a ‘Grexit’ could occur.
Ministers within the Eurozone including Angela Merkel from Germany, understand the importance of keeping Greece within the Euro. The reason being if Greece did decide to leave we could see a ‘domino effect’ where countries like Portugal, Spain and Ireland following suit and then in my opinion the start of the end for the Euro. Therefore this is the reason I believe Greece will stay.
Going forward I still believe Sterling will weaken before the Election and by May the 7th GBP/ EUR exchange rate will be between the 1.3550 and 1.3650. Depending on which parties form a coalition (as its fair to say no party will gain the majority) GBP/ EUR could strengthen or weaken. For further information into the possible outcomes to who could form the government and the effects this could have on the currency markets please click here.
Going forward if I was looking to buy Euros I would be buying as soon as possible taking no risks. Where as if i was selling Euros I would be following the Greece story closely, however I would look to trade just before the election. For further information and a quote to receive award winning exchange rates feel free to email me on firstname.lastname@example.org or alternatively call 01494 787 478 and quote Dayle Littlejohn.