Tag Archives: pound

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

Sterling has an extremely stable day with limited movement against all majors (Daniel Wright)

Today we have seen a fairly quiet day on the markets for Sterling followers with little economic data out and no real big headline hitters from Europe or the States.

Tomorrow has the ability to be very different with a few major points of note to be aware of.

Early morning we have German unemployment figures which could have a great impact on the Euro. Expectations are for no change at 6.5% but the key will be if we see the actual figure come out any different. many economies have surprised us with their unemployment figures in the past few months so it would not be a great shock to see a little improvement and finally a good day for the Euro.

For anyone that has an interest in the Pound, it is important to note that we have GDP figures for the U.K out at 09:30am. These figures are the final revision for Quarter 4 of 2014 and expectations are for a slight revision downwards so Sterling may struggle a little against all majors in trading tomorrow morning.

Later in the day we have inflation figures for both Canada and America, both at 13:30pm which will no doubt lead to a volatile afternoon for their two respective currencies. The Canadian Dollar has gained strength over the past 24 hours as comments from the Bank of Canada that interest rates will remain static for the foreseeable future, which gave the CAD a boost.

If you are looking to exchange any major currency and you want to make sure you are getting the most for your money (even if you already are using a broker) then it is always well worth contacting me for a quote. I regularly have people contact me through this site that find out they are not getting the best price they can and for the sake of two minutes writing me an email it is well worth getting a quote, just like buying anything it is always worth comparing.

You can email me (Daniel Wright) the owner and editor of this site 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 give you a call and help you save a great deal of money.

Greece and the Euro, Yellen and the Dollar – What happened today and how will the market react?

Greeks gain a provisional agreement

The on-going Greek saga appears to be set to continue for at least a few months as this afternoon we saw a provisional agreement confirmed by the Eurogroup. They have agreed to proceed with national procedures with a view to reaching a final decision on the extension which may be up to four months.

This agreement had little effect on Euro exchange rates as it had been widely expected for the past few days.

The next question really is how do I see the Sterling/Euro exchange rate moving in the coming weeks following this announcement? One of the main reasons the Euro has weakened over the past six weeks or so has been down to uncertainty, which has been heightened by the media hype and constant coverage over Greece. In essence the problem has not gone away it has merely been delayed for a few months.

The fact though that it has been essentially swept under the carpet could see the Euro slowly creep back a little and personally a move back below 1.34 would not be a great surprise to me.

Mario Draghi is set to speak later today at 15:30pm in a quiet day for economic data destined to be focused on Greece once again.

If you have a currency requirement in the near future and are happy with current buying levels (7 year high) then there is a great option available to you known as a forward contract. This useful contract option allows you to lock into a rate of exchange for anything up to a year in advance, paying merely a small deposit initially and then the balance on or before whichever date has been agreed, this is absolutely vita if you are working to a fairly tight budget. If you feel this may be of use to you or you just want to see how I can help with any currency transaction in terms of getting you a better rate and level of service then please feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be happy to explain how this handy market tool works.

 Janet Yellen’s Comments give us little to work off of

Janet Yellen (Head of the Federal Reserve) testified yesterday and had many questions thrown at her surrounding interest rate hikes and when we may start to see them for America.

The main comments to pull from a long conference were that she insisted that the Fed should not be chained to decisions and that although the U.S recovery is on solid ground, there are still concerns surrounding inflation and the labour market which is not yet fully healed.

Yellen mentioned that she could not see a hike for the next two meetings which pushes us back until at least May and could lead to a little Dollar weakness in the coming days and push back above the 1.55 level. If you are looking to either buy or sell Dollars in the near term and you want to achieve the very best rate along with a highly efficient service then feel free to email me (Daniel Wright) directly djw@currencies.co.uk and I will be more than happy to get back in touch personally.

GBP Forecast, how can I avoid the uncertainty of Greece? Watch out for the election too!

Sterling has risen against most currencies except the Euro in 2015 as UK economic data falls short of expectations. I think it important to note that some 40% of the UK’s trade is with the Eurozone and therefore the slowdown in the Eurozone economy will impact the British economy as well. Making plans in uncertain markets is never a bad idea! The pound could come under some strong selling pressures due to the UK General Election in May, however if selling Euros to buy sterling who is to say how weaker the Euro will be by then!

A Stop Loss order will automatically execute when the rate drops to a lower level than desired (protecting against losses) whilst a Limit order triggers when your desired higher rate is reached. Exchange rates change every second and such contracts guarantee your price even if the rate is just hit for a second. Please email me Jonathan on jmw@currencies.co.uk for more information on achieving the best rates.

Do you find our site useful? Why not use us for award winning exchange rates as well??!! (Daniel Wright)

Just to make you aware we have now had over 5500 people contact us through the site who have managed to get better rates of exchange than their current currency provider. If you are using one of the following it may be worth you getting in touch for a direct comparison:

Moneycorp, HIFX, World First, Smart Currency, UK Forex, Oz Forex, Foremost Currency, Foreign Currency Exchange, Currency Index, Currencies Direct, XE.com, Transferz, NZ Forex, Halo, Afex, Tor FX, Hargreaves Lansdowne and Transferwise. 

Not to mention Barclays, Lloyds, Natwest, HSBC, Yorkshire Bank, Clydesdale Bank, RBS, Halifax, Nationwide and pretty much all major banks.

We don’t only pride ourselves on a great exchange rate but also a really high level of service too, which you may find you are not getting to a high enough standard at present.

If you are using an online trading platform then make sure you get straight in touch, with an online platform you do not have someone negotiating on your behalf therefore generally do not receive the best rate of exchange you can.

We deal with bank to bank transfers ranging from one thousand Pounds to multi million Pound transactions for both private clients and corporate clients… We have a regular payments facility too which is free and can assist anyone with smaller payments to Europe.

The company we work for is FCA registered and Authorised as a payments institute and all funds are kept in client transaction accounts to give you peace of mind your funds are safe and secure, we have won awards both for our exchange rates and customer service and have now 50,000 clients under our wing. Anyone that contacts us through this site will deal with one of the authors, if there is an author you find particularly informative you can use them directly.

I have to say I am really proud as to how much this site has picked up over the past three years and it is thanks to my regular readers that it is as popular as it is today – Let me return the favour with exceptional exchange rates.

If you feel we could be of assistance to you as well, feel free to get in contact with me (Daniel Wright) the creator and main editor of this site  djw@currencies.co.uk or you can indeed fill in the enquiry form on this page and one of us will call you back.

You can also join our mailing list on this page too.

We look forward to speaking with you soon!

GBPEUR Forecast for this week

The UK’s General Election and any resolution in Greece would indicate the Euro stages a recovery. However Euro sellers should not expect major improvements since the problems in the Eurozone are deeply rooted, I think that any ‘solution’ will as always be a short term fix with the problems likely to resurface down the line.

As well as Greece there is key GBP news tomorrow!

Tomorrow’s Inflation data is significant since lately it has presented good opportunities to buy the pound.12 separate pieces of Inflation data will be released indicating the rate of which prices are rising (or falling). I personally expect the pound might decline as the Inflation data shows a decline too, this would indicate any interest rate hike is not so urgent. Getting the best deal is achieved through a careful mix of analysing the data and being able to react quickly. For assistance with any money transfers you might wish to consider please contact me Jonathan on jmw@currencies.co.uk

 

Pound Sterling Forecast – Upcoming data that may affect your exchange rate (Daniel Wright)

The Pound has had a funny week against most majors, remaining in the 1.34-1.35 range against the Euro, (albeit with some quite volatile moments) gaining ground back against the Dollar and pushing higher against the antipodean currencies (AUD,NZD,ZAR) even seeing the Sterling/Australian Dollar rate testing the level of 2.

One important matter that could really lead to an extremely lively start to the week is the issue with Greece. Whispers are that they are close to securing a debt deal which may bring a little certainty back to the Eurozone and confidence to the Euro, which in turn may lead to Euro strength at the start of the week.

Overnight on Monday night we also have the RBA (Reserve Bank of Australia) meeting minutes from their last interest rate decision which may give indications as to what the next move is and could really give the Australian Dollar  some fairly sharp movements out of hours.

If you have been waiting to buy your Australian Dollars at a rate of 2 then a limit order may be a sensible approach. This is where you can set an order to buy automatically if the achievable rate becomes 2 or better and can be really handy as data comes out from both economies day and night so it means that any sharp movements will be taken advantage of on your behalf. If you feel that this type of order may be beneficial to you then feel free to email me directly on djw@currencies.co.uk and I will be happy to get back to you personally.

Tuesday will bring inflation data for the U.K which has been a fairly important talking point for Governor of the Bank of England Mark Carney over the past few months as the figure continues to drop steadily with major thanks to falling oil prices. An even lower figure will possibly weaken Sterling off a little as concerns of deflation will no doubt rise and although yesterday Carney said in his inflation report that rates would not rise until at least 2016 this could still just concrete that thought a little more.

An interest rate hike is generally seen as positive for the currency concerned and a drop in rates negative so whenever an interest rate hike is pushed back you can see a currency drop in value.

If you are looking to exchange the Pound into any currency or exchange any currency back into Sterling then feel free to email me directly on djw@currencies.co.uk with a brief description of what you are looking to do along with a contact number and I will be happy to get in touch.

 

 

More is lost through indecision than a poor decision!!! Sterling at multi-year high against the Euro and multi year low against the Dollar (Daniel Wright)

Good afternoon and what a crazy week once again on the trading floor!!!

A very quick update from me as we are currently busier than we have been in a number of years!

The Euro has fallen well and truly out of fashion this week with thanks to the QE (Quantitative Easing) program bought in yesterday.

QE is generally seen as a negative for the currency concerned as we have seen previously with the U.K and U.S so this may weigh heavily on the Euro in the coming weeks.

The Dollar managed to briefly break the pivotal 1.50 level today and is now poised just above the 1.50 mark and I would not be surprised to see it potentially break through it mand offer a trading price of 1.50 at the start of next week.

If you are looking to buy foreign currency and you want the very best exchange rates then feel free to contact me directly and I will be able to not only save you money over your current provider but also ensure you get an exceedingly high level of customer service too.

Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to assist you personally.

 

 

Sterling exchange rates – Potential drop tomorrow morning to be aware of! (Daniel Wright)

Following on from an absolutely crazy end to last week the markets are starting to settle down again for Sterling against most major currencies as all eyes now appear to focus on what the European Central Bank will do on Thursday.

Talk of what may happen next with the ECB (European Central Bank) has been constant since the turn of the year and this may be the reason that the Euro has dropped off quite a lot against most major currencies.

The next key piece of economic for anyone either buying or selling the Pound in the coming days is the Bank of England minutes and U.K unemployment data, both due out tomorrow morning at 09:30am. Unemployment is expected to come out at  5.9% so any change to this may lead to volatility for the Pound. The minutes may be of greater interest as they will show what was discussed at the last interest rate decision and also how many members of the Bank of England voted in favour of or against an interest rate hike.

For a long period of time we have seen two members of the bank of England voting in favour of a hike and seven members against, and now that it is hard to see interest rates go up in the U.k this year you do start to wonder if one of the two members that were in favour of a hike now may have changed their mind?!

With an interest rate hike (or the mere speculation of it) generally being positive for the currency concerned if one less member is in favour of one then we may see the Pound drop in value against all major currencies.

If you are looking to carry out a currency transfer in the near future then I would be surprised if I could not get you a better rate of exchange than you are currently being offered along with a smooth and efficient service. If you feel that the site has been of use to you then feel free to email me (Daniel Wright) djw@currencies.co.uk directly with a brief description of what you are looking to do and a contact number and I will be more than happy to contact you personally.

 

 

Exchange rate update and forecast (Daniel Wright)

Sterling Euro

The Pound has been fairly range bound against the Euro of late following a reasonably good gain towards the start of the year. The main talking points surrounding the Euro at present appear to be  both the potential introduction of QE (Quantitative Easing) and the upcoming elections in Greece.

As regular followers will be aware QE general tends to weaken a currency (like we saw for both Sterling and the Dollar when the U.K and U.S have introduced this previously) however do also be aware that the markets do move on speculation as well as fact so the majority of this movement may have already been priced into the market.

We do appear to keep hitting a glass ceiling not too far above where the market is now and we will need to see some fairly substantial news to push us through this level of resistance so unless we see that I would not be surprised to see us remain within this range (which we are close to the top of) for the next week or two.

You should at least make me aware if you do need to exchange soon as I can then act as your eyes and ears on the markets to try and ensure you do not get caught out if the markets take a turn for the worse. You can email me on djw@currencies.co.uk or call me on 01494 787462 if you do need to carry out a transfer soon.

Sterling Dollar

After an almighty charge from the Dollar towards the end of December/start of January the mid-market price looked like it may well test the 1.50 marker but Sterling managed to hold off the pressure and I currently nestled just above that. The key now is whether the Dollar has a second wind and if it can actually break through a key resistance level.

In times of global uncertainty you general tend to see the Dollar come into favour as a perceived ‘safe haven’ currency and on top of this at present the U.S look almost nailed on to raise interest rates before the U.K.

An interest rate hike generally tends to strengthen a currency and a cut in rates can weaken it and at present the bank of England appear to be constantly pushing back their rate hike expectations which is not doing the Pound any good.

Sterling – Australian Dollar

Following on from Sterling hitting multi year highs the Australian Dollar has also managed to gain back ground moving back against the pound by almost 4% since the start of the year.

We have had comments from RBA Governor Stevens towards the back end of the year that his preference would be to see a weaker Australian Dollar since it is damaging the Australian economy. Personally I would not be surprised to see further comments or some sort of action to push the rate back up however this must be approached with caution as the Australian Dollar can move rapidly and substantially when it is in a particular trend.

With the rate also moving overnight, if you are looking to achieve a particular level of exchange there is the option of a limit order r stop loss contract to ensure that if your rate becomes available overnight it will be taken advantage of, or the stop loss can protect you from adverse market movements if you want no lower than a particular rate of exchange.

Thursday morning will bring unemployment figures from Australia which are currently expected to not be too great which may weaken the Australian Dollar a little.

Sterling – New Zealand Dollar

The New Zealand Dollar had also made great progress at the start of the year against the pound however a drop in dairy prices yesterday caused it to weaken away again, seeing it drop by almost 1.5%. Personally I feel the NZD may well try to head back towards 1.90 again unless we see any major news as demand for the currency is still fairly high.

Forward contracts

If you have a requirement in the future but you do not yet have the full availability of funds you can book out a forward contract. This is where you can book a rate out for up to a year in advance with just a small deposit, removing the risk of the currency market making your purchase any more expensive in the future.

This is ideal if you are in the process of buying a property overseas as you can know exactly how much the property is going to cost you today and eliminate the risk of the Pound dropping away again and missing out on this great opportunity.

I look forward to speaking with you if you have any questions or queries or you would like to book out a rate of exchange. Please feel free to email me on djw@currencies.co.uk and I will be more than happy to contact you personally.

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