Tag Archives: GBPUSD exhange rates
The pound has dipped this morning despite a raft of good economic data showing improvements in government borrowing and falling budget deficit. There had been some high expectations of seeing the pound move higher due to a more hawkish outlook by the Bank of England but this failed to materialise. As one of my clients said to me ‘you can’t even trust the Bank of England’ nowadays…
This was in reference to their commitment to consider raising interest rates if the Unemployment rate dipped below 7%. This particular caveat was of course met recently causing the pound to spike but for now the BoE will not be raising interest rates, it would simply cause more problems.
If you are expecting the pound to just keep rising you could therefore be very disappointed as we need to see some really good data to warrant such a spike. I find the best way to maximise your return on your currency exchange is to set realistic targets and limits. If you would like some assistance in the execution and planning of your transfers please contact me Jonathan on firstname.lastname@example.org, even if your transfer is just a once off, we can help get you the most for your money.
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 email@example.com
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 firstname.lastname@example.org for the very best rates and latest news on what will move your rate!
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 email@example.com
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 firstname.lastname@example.org. I am very confident of being able to undercut any other firms and save you money.
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 email@example.com
Mark Carney and the Bank of England have raised UK growth forecasts helping sterling to gain against a number of currencies. At the same time they have underlined interest rates will be on hold for a long period of time which limits just how much higher we can expect sterling to rise in the coming weeks and months.
If you have a sterling transfer to consider in the coming weeks and months making some plans now at these levels may be a sensible move.
In other news the new Federal Reserve Chairmen Janet Yellen underlined Quantitative Easing in the US is likely to continue until there are significant improvements in the jobs market. And overnight Chinese economic data was much stronger than expected presenting what I believe is a very good opportunity for anyone selling Australian dollars or South African Rand to buy GBP.
I am available to assist in the planning and execution of any international money transfers you need to make (including bringing funds back to the UK or Europe). Unfortunately no one can tell you exactly what will happen on exchange rates but having won awards for our service and rates, we are extremely well placed to offer expertise in managing your currency exposure.
For a breakdown of strategies and options on your particular exchange please call me Jonathan in UK office hours on 01494 787 478 or if you prefer email a quick outline of your position to firstname.lastname@example.org
Tomorrow is a key release for the UK with UK GDP released at 09.30 am. This will detail how the UK economy grew in the final quarter of 2013 and underline just how solid this recovery is. On balance I would be expecting a strong number above the forecast and sterling strength for this release.
I remain of the opinion if you are selling a currency to buy GBP then moving sooner is the best move since it is likely the pound will continue to strengthen as the UK economy improves.
Wednesday is a very important release too with the US Fed decsion on whether or not they will be embarking on more QE ‘tapering’. There is a strong likelihood of a further $10bn in cuts as they have forecast but this may have been priced in to an extent already. If they taper by more or do nothing then there could be a big market reaction not just on the USD but also sterling, Euro and riskier currencies of the EM which have been driven by the Fed’s actions for so long now.
EM stands for Emerging Market’s and represents the BRICS and other emerging markets from recent years. Many of these assets have been buoyed as a result of Chinese economic dominance and cheap money from the US Federal Reserve ‘QE’ (Quantitiative Easing) programme. On this particular issue you can read more from my recent post here.
If you are planning an exchange now or in the future an awareness of all of your options in advance will help you to get better exchange rates. For more information please contact me on email@example.com or call 01494 787 478 and ask t speak with Jonathan.
This morning we have Retail Sales for the UK released at 09.30 am. Retail accounts for a large portion of our GDP and the figures will be closely watched and may well move sterling. Therefore if you have a transaction to consider an awareness of the possible outcome and how to prepare yourself is wise!
The pound is performing very strongly against a range of currencies and this morning’s data is expected to show an improvement of 0.1% in the sector. I have read a few forecasts that predict a lower number which would weaken sterling. I however would expect a higher number as despite some supermarkets reporting lower numbers many other retailers like Next and John Lewis reported very high sales. We also had retailers discounting in the weeks leading up to Christmas and many sales started on Christmas Day.
Another interesting point to consider however is the growth of online sales and the impact of this on the High street. The widely reported increases are of course welcome but are the sales going overseas or is it benefiting the British economy? I have actually emailed the ONS (Office National Statistics) and will let you know!
We can book a price in minutes following your initial contact. We are able to undercut other sources of currency and give you insight into the issues and events affecting your exchange. For more information please contact me on firstname.lastname@example.org or call 01494 787 478 and ask to speak with Jonathan.