Tag Archives: GBPEUR exchange rates

Mixed week for Sterling Exchange Rates (Tom Holian)

Already this month Sterling has moved by over 4% from the high to low against the single currency as the Eurozone finally began their first round of Quantitative Easing.

This saw Sterling reach an 8 year high against the single currency and the highest level reached pre-credit crunch for GBPEUR exchange rates.

The Euro has also weakened to its lowest level against the US Dollar in over ten years which has caused global investors to sell Euros to buy Sterling hence the positive movements for Sterling during March.

However, over the last few days we have seen UK unemployment drop below expectations of 5.7% which although the figure is arguably very good for the British economy the markets will often move on expectation so a fall will often result in a bit of weakness for the currency involved.

The UK Budget did not really throw up many surprises so the exchanges rates remained static during the announcements.

On Friday Sterling saw a fall toward the end of the trading session as profit taking took place.

Next week the biggest day for Sterling Euro exchange rates will arguably be Tuesday as the UK releases inflation data. If UK inflation falls this typically results in weakness for Sterling as it puts off an argument for putting up interest rates.

I expect to see a fall in inflation owing to energy price falls so therefore expect to see Sterling fall against the single currency on Tuesday providing a good opportunity in the short term to sell Euros into Sterling.

On Thursday we could see Sterling recover against the Euro with the release of UK Retail Sales which have generally been on the rise.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Important News for GBPEUR buyers and sellers in the next 24 hours!

Tomorrow is the UK budget and some Unemployment data which could mean some volatility. Rates have already dropped due to comments by the Bank of England Governor the pound is overvalued. The ray of hope would be tomorrow night’s US Federal Reserve meeting where we will learn more about the prospect of the US raising their base interest rate. One driver of Euro weakness has been USD strength. As the USD strengthens much of the funds are arriving from the Euro (as EURUSD is the most heavily traded currency pairing) and this means further USD strength should mean more Euro weakness.

So if you are prepared to risk further losses holding on for later in the week is an option, if you are concerned and would be upset at it dropping further moving sooner is probably best. Longer term the UK election seems likely to cause GBP weakness and current levels are significantly improved from the last few weeks, months and years. In my opinion therefore representing an excellent buy opportunity.

Is this useful? I am very confident I can save you money over other brokers and the banks. Registering takes a minute online and we can be quoting you a live price to buy your currency within minutes of you contacting us. Even a small difference on the price you receive from your broker could be a big difference in the currency you receive. Please email me jmw@currencies.co.uk to learn more!

GBPEUR soars!

GBPEUR has been over 1.36 representing some excellent opportunities to buy Euros not seen for 7 years. If you need to buy or sell the pound taking stock of current levels could be the best way to maximise your deal. The outlook for the currency markets is rather uncertain with the Greek news and further uncertainty up ahead.

If you need to buy or sell the pound making plans is always sensible. Leaving everything until the last minute is not generally a very good option as you never know what will happen! For more information please contact me Jonathan on jmw@curencies.co.uk

Greece Deal Agreed and Impact on Euro Exchange Rates (Tom Holian)

GBPEUR exchange rates have been trading close to 7 year highs recently over the uncertainty of the Greece bailout deal.

For the last couple of weeks the Euro has weakened against Sterling providing some excellent opportunities to buy Euros.

On Friday the UK posted its worst monthly fall for Retail Sales since records began in 1997 and although Sterling dropped against the single currency the fall was not as much as it could have been.

It appears as though the Greek issue has dominated the currency movements and this weekend it has been announced that Greece has come to an arrangement with the Eurozone.

The deal is that Greece will have another 4 months to organise the refinancing of the current package.

The deal will be reviewed on Monday and unless it does not get fully approved think we could see a very quick fall for GBPEUR exchange rates.

German GDP data is due on Tuesday as well as Eurozone inflation data. If the news is positive we could see rates for Sterling Euro continue to fall.

ECB President Mario Draghi is due to speak on Wednesday and clearly the topic of Greece will be top of the agenda. My expectation for this week is to see Sterling fall against the Euro.

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 teh@currencies.co.uk

 

 

 

Are you selling a foreign currency to buy the pound? Making plans now could be a wise move…

Sterling has spiked against its peers as UK data shows improvements in the various sectors of the economy, notably the Manufacturing Industry and the Services Sector. Unless you are buying USD with the pound, 2015 has been pretty much plain sailing for anyone buying a foreign currency with the pound. What I wish to focus on are the numbers of clients buying the pound currently. Tomorrow and next week could be some very good opportunities to buy the pound as the Bank of England release some important information. Sterling looks set to rise over the longer term so making some plans soon is probably wise!

EUR to GBP – 2015 has been a rough ride for anyone selling a property or getting paid in the Eurozone. Quantitative Easing and the Greek election have caused the Euro to sink to a 7 year low against the pound and the forecast for Euro sellers is not very rosy. I would be seeking to trade on any dips in your favour. The General Election later in the year may help but in my opinion holding on for so long is a risky move. To learn more about the process of moving funds out of the Eurozone at the best exchange rates please contact me Jonathan on jmw@currencies.co.uk

AUD to GBP – The Aussie has weakened to multi year lows against sterling too, principally on the back of the RBA (Reserve Bank of Australia) decision to cut interest rates to stimulate growth. Falling commodity prices have caused the Australian dollar to plummet and we are only a couple of cents off the historic 1 GBP for 2 AUD being reached. With the global economy slowing it would seem reasonable to expect further losses for the AUD as the RBA act to keep the Australian economy growing.

Even if you are holding on expecting rates to majorly improve for buying the pound depending on the currency you are holding it is probably sensible to make some firm plans now. We offer a specialist service to move money internationally at the very best exchange rates. Assisting in the planning and execution of said transfers we have directly helped over 4000 clients to make an informed decision about when to execute their exchange plus countless others who read the site. If you are a regular reader and wish to learn more please email me Jonathan on jmw@currencies.co.uk

Greek Issues dominate Euro exchange rates (Tom Holian)

GBPEUR exchange rates have drifted higher again this morning as the Greek issue continues to dominate the currency markets.

Germany has stated that it will not offer more money to Greece unless the conditions of the bailout are adhered to which is adding to the uncertainty across the Eurozone.

EC President Juncker has warned the Greeks that they will  not bow to pressure from them which has caused further instability.

Ultimately the Greek issue will get resolved and to me it is only a matter of time until we see some positive reports and then we’ll see the Euro strengthen quite quickly so it may be worth taking advantage of these 7 year highs to buy Euros at the moment.

The Quarterly Inflation Report is now due out on Thursday and with inflation falling globally I think the report could be taken as slightly negative for the Pound.

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 teh@currencies.co.uk

 

 

 

 

Have GBPEUR Rates hit their Peak? (Tom Holian)

On Wednesday this week we saw the highest level for GBPEUR exchange rates since February 2008 as the currency markets continued to digest the news from the QE performed by the European Central Bank and the conclusion of the Greek elections.

Sterling saw huge gains during January but one real problem for those needing to buy Euros is when to make the decision to make a currency transfer.

As Sterling has been riding high for a few weeks one problem for the British economy is that if the Pound remains as high as it has this month it ultimately starts to affect the price of British exports making them less competitive particular for European consumers which ends up having a detrimental affect on UK GDP.

The Bank of England minutes out recently confirmed that no members would like a rate change which suggests to me that the UK will keep interest rates on hold until at least next year.

If you would like to take advantage of current levels and have a currency transfer to make then contact me directly for a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Sterling very high against the Euro (Tom Holian)

GBPEUR exchange rates have ended the week strongly after a mixed week on the currency markets.

UK services data which was released on Wednesday gave Sterling a push towards 1.27 and alongside the positive announcements made in the Autumn Statement this helped the Pound gain against the single currency.

However, during the ECB press conference which came on Thursday afternoon Sterling fell by almost 1% against the Euro. ECB president Mario Draghi suggested that the central bank are putting steps in place to change monetary policy soon. This could take place in the first quarter of 2015.

This helped to give strength to the Euro as stability helps to strengthen the currency involved. However, the gains were short term as on Friday Sterling went back to almost 1.27 on the Interbank level.

Tomorrow sees the release of Eurozone industrial production data and anything lower than expected could see Euro weakness creating some excellent opportunities to buy Euros.

Arguably the most important data of the week will be Tuesday afternoon with the release of the UK’s NIESR GDP estimate. A strong reading could see Sterling get close to the 2 year high hit in October for GBPEUR exchange rates.

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 teh@currencies.co.uk

 

 

GBPEUR rates spike higher above 1.27 but fall back very quickly!

GBPEUR has fallen from 1.2755 as the high today back down towards 1.2637 as Mario Draghi disappointed on the big Eurozone ‘QE’ question. In fact what we saw was him refrain from announcing a full blown QE operation. This caused the Euro to strengthen and I think represents a good opportunity for anyone selling the Euro in the future. Longer term it does seem very likely that the Euro will be weaker against the pound, on balance if you are buying sterling with Euros buying on the dips is the best way to maximise your transfer.

The big gamble on GBP rates in 2015 is going to be the election. It would not be surprising to see an increase in voter apathy and the old 2 or 3 way party system split yet further. If you have any major transactions in the New Year making some careful plans now might be a very good idea. We offer a range of contract options including the option to fix prices for the future and trade automatically at certain higher or lower rates. A quick discussion with us over the best strategy to maximise your deal really might be best the course of action. Just look at the high to low movements today! A well placed order could really make a big difference in rates on a large volume of currency.

If you wish to learn more please contact me Jonathan directly on jmw@currencies.co.uk

Euro Strengthens against Sterling (Tom Holian)

GBPEUR exchange rates have ended the week down following a whole host of Eurozone data due out earlier today.

German Retail Sales showed an improvement up to 1.7% from the expected 1.4% which is seen as a good sign for the Eurozone as a whole.

As Germany is the Eurozone’s leading economy any positive signs often helps to strengthen the single currency and this is what has happened today.

Eurozone inflation came out at 0.3% year on year which although is very low it came in on the estimate.

It is likely that the European Central Bank will intervene with monetary policy but whether or not this will happen next Thursday is up for debate. Typically a central bank does not like to change policy in December so I think we will not see a change until either January or February.

However, I am confident that comments from the ECB president Mario Draghi will possible strengthen the Euro as I think he’ll talk about the upcoming change which is likely to settle the unrest at the moment.

Next week we have the release of UK manufacturing data as well as mortgage approvals on Monday morning. Both these are likely to cause volatility on Sterling vs Euro exchange rates.

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 teh@currencies.co.uk

 

 

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