Tag Archives: pound

Buying Euro and Dollar rates soar from Boris and David’s comments (Joshua Privett)

Fresh two and a half month highs were reached earlier today on buying Euro and Dollar exchange rates following surprising and contentious comments made by the men spearheading the Brexit project.

David Davis and Boris Johnson, the Brexit Secretary and the Foreign Secretary respectively, have come out this morning seemingly having taken a U-turn on key positions which financial markets pounced on immediately. At its peak GBP/EUR bridged 1.1950, GBP/USD breached 1.2690 and GBP/AUD just pipped over 1.7150.

Financial markets have made no secret that they want the UK to remain part of the single market. Collectively there is greater appetite for investment in the Pound if they know the transition away from the EU is expected to be gentler – hence the term ‘soft Brexit’.

Johnson, as was shown all over major newspapers today, has stated privately to ambassadors that he was ‘all for’ free movement of people. And David Davis has stated that the UK will likely continue to pay for preferential access to the single market today in a statement in the House of Commons.

An utter reversal on both Government and Boris’s own public opinions stated recently, and the greater likelihood of a softer Brexit suggested in the comments saw the Pound soar against all major pairings, with buying Euros and US Dollar buyers being the key winners.

However, as the day waned on the ‘run’ on the Pound began to lose its momentum and eventually fell back heavily. Speculators taking profit from such serious movements today are seen as the root cause.

Moving forward, GBP/EUR, GBP/USD and GBP/AUD exchange rates will need to navigate the upcoming Italian Referendum and US non-farm payroll figures.

The US figures are to be released tomorrow lunchtime and the Italian Referendum results are expected on Monday.

The referendum will be key for buying Euro rates as a NO result will likely mean the rise of the far right over in Italy, and create further questions marks regarding the Eurozone’s future. Polls are currently neck and neck, but heavy movement is expected on Monday either way. As such a premium will be put on being able to move quickly on Monday to secure tempting levels or protect yourself from any sudden downturns.

I strongly recommend that anyone with a foreign currency requirement using Sterling should contact me on jjp@currencies.co.uk to discuss a strategy for your transfer to safeguard it from any adverse movements and to discuss how best to seize any particularly tempting levels which emerge in the short term.

I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on a prospective transfer.

I will also remind our regular readers that if you are looking to be securing an exchange rate for a future purchase based on the recent improvements in the Pound, this is easily done using a forward contract, whereby the rate is pre-booked at today’s levels to be utilized for a later date. Again simply email me on jjp@currencies.co.uk to discuss this further.

The ‘Trump Train’ market surge fades but Sterling manages to hold on to it’s gains, but for how long? (Joseph Wright)

The Pound has surged across the board through November for a number of reasons, with the main catalysts being the likely delay to invoking Article 50 and beginning the Brexit process, and Trumps election victory in the US boosting sentiment surrounding the UK economy.

Those planning on converting Pounds into another foreign currency have been dealt a good hand this month, as the Pound has gained clawed back quite alot of it’s losses since the Brexit vote.

This month alone the Pound has gained 5 cents vs the US Dollar and 7 cents vs the Euro. In monetary terms a £200,000 GBP to EUR currency exchange is now gaining an additional €15,000+ in the space of 30 days which just highlights the importance of timing large currency conversions.

As a specialist currency brokerage we’re here to monitor the currency markets on behalf of our clients, and in volatile trading conditions like we’ve seen this month our service can really save clients large amounts of money due to the assistance with timings and reacting to market movements.

There will be manufacturing and construction figures released later this week which could affect GBP exchange rates depending on their outcome, and if you are planning a currency exchange between the Pound and another major currency and would like to plan around these events, do get in touch regarding timings and exchange rates.

The Pound has so far held onto it’s gains made this month, but currencies do tend to fall quicker than they climb and if some ‘Hard Brexit’ related news is released there is a chance the Pound could lose some or even all of it’s recent gains.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible. 

You can also call in and ask reception to speak with me (Joe) on 01494 787 478. 

Why should you contact us here at Pound Sterling Forecast? (Daniel Wright)

Over the past seven years we have had many clients contact us to see if we can assist them both with the timing of their currency exchange, but also with saving money over their bank or other currency brokerages.

All of the writers here work for one of the largest brokerages in the U.K and between us we have over 70 years experience of helping people send money overseas or bring money back for property purchases, property sales, business transactions or any other reason that involves a currency exchange.

We do not deal with holiday money or cash transactions unfortunately but we do pride ourselves on the very highest level of customer service along with seriously good rates of exchange.

Most of our traders have been doing this longer than our competitors have existed, so by contacting us here at Pound Sterling Forecast you can have the peace of mind that not only will you get a great rate, but your transaction will be handled smoothly and efficiently by a team that know exactly what they are doing.

We love providing our regular readers with up to date and important market information on this site and welcome all new enquiries with a personal response as soon as we possibly can.

Looking at the economic calendar we are fairly thin on the ground for data over the next few days as the month ends but do be wary as you can see fairly large swings for currencies as you near the end of the month as larger corporations net off positions and we start to see month end flows.

If you would like to be kept fully up to date with market movements or you would like to save money on any pending currency exchange you have then feel free to get in touch with me (Daniel Wright) personally on djw@currencies.co.uk and I will be more than happy to give you a call or reply to you email and answer any questions or queries that you may have. I look forward to speaking with you.

 

Profit taking undermines the Pound – where next for GBP/EUR, GBP/USD and GBP/AUD? (Joshua Privett)

Like clockwork speculative trading on Friday has attacked some of the Pound’s heavy gains against the Euro and the Australian Dollar in particular over the past 3 weeks.

After breaching fresh 10 week highs just on Thursday, the Pound was hit on two fronts on Friday.

Firstly, harsh words from the Maltese Prime Minister about the upcoming negotiations with the EU were enough to upset a clearly hypsersensitve market at the moment.

Sterling recouped some of those losses when it was quite clear it was an overreaction to those comments. Though you can’t blame investors for jumping the gun…the last time a few leaders from the Eurozone made comments like that it was the beginning of October and it caused a flash crash on the Pound, with GBP/EUR falling 4 cents as an example.

Following this, the rollercoaster continued for buying Euro and Dollar rates, and the reasoning points to worrying expectations for exchange rates in the latter part of next month.

Profit taking and protective trading will likely see the Pound undercut quite heavily as markets relieve themselves of riskier currencies ahead of the Christmas period when trading winds down. Essentially many traders are not at their desks so will likely buy up ‘safe haven’ currencies such as the Swiss Franc and US Dollar to avoid coming back to work in January to see hard earned profits lost.

The expected mass sell off of Sterling is why companies and individuals are already planning to protect themselves during this period.

A more muted version of this actually happens every Friday as investors sell off their Sterling to protect themselves heading into the weekend when they are not at their desk.

The fact that this continues to happen is why anyone with a buying Euro, US Dollar, or Australian Dollar requirement should be wary of the Christmas period.

 

If you are planning a currency purchase involving the Pound, it is certainly worth your time contacting me on jjp@currencies.co.uk to order to explore the options open to you to seize any peaks which emerge on GBP/EUR, GBP/AUD and GBP/USD, and to safeguard your transfer from any unexpected turns in global politics and the financial world.

I offer my customers a proactive service to make sure you remain a well informed purchaser and avoid being ‘last to the party’ when attractive levels for buying or selling suddenly emerge. I also work for one of the UK’s leading currency exchange brokerages who provide highly competitive currency exchange rates.

To avoid the inherant risk of the Christmas period, I would remind our regular readers that you can also ‘pre-book’ your currency at today’s rates for a later period to avoid navigating particularly volatile periods when you have a planned currency exchange in 2017.

Buying rates for Euros and Australian Dollars testing new highs, but GBP/USD lagging behind (Joshua Privett)

The Pound has had a fantastic two weeks to say the least after what had been heavy drop after heavy drop on buying Euro and Dollar rates of exchange. We are now entering a period of stability following a stint where in two weeks the market has moved more than the last three months combined for GBP/EUR, GBP/AUD and GBP/USD.

Buying Euro rates in particular have been the main beneficiary from this recent movement, being hit by a Trump Presidency from two angles which explain the 7% plus gains since November 9th.

Due to the special relationship between the US Dollar and the Euro, a stronger Dollar tends to draw capital away from the Euro. Whilst Trump is a wildcard his very public support for a US interest rate hike in December is fueling heavy Dollar interest, with investors in the Euro diverting their attention to the other side of the Atlantic. The Euro thus deflates as disinterested parties go elsewhere.

Furthermore, the expectation of a change in the US stance of a hostile Obama to a supportive Trump for the UK leaving the European Union has also buoyed market confidence in a better result for the UK in upcoming negotiations.

Now that the Autumn statement has passed, with Hammond’s praise of the positive impact of the Bank of England’s interest rate cut and increase in monetary stimulus suggestive that further emergency stimulus is not necessary in the UK since the vote, the Pound can move forward at its gradual pace of improvement barring any political surprises.

Without much economic data out between now and the beginning of December when the cycle begins once again with a fresh look at November, buying Euro and Australian Dollar rates will likely continue to benefit from a stronger Pound.

Apart from the unknowable factor which is the Supreme Court’s decision over the role of Parliament in the Brexit to be decided on December 10th, red flags and flashing sirens are abound for anyone with a GBP/EUR, GBP/AUD, or GBP/USD requirement in the latter part of December.

Profit taking and protective trading will likely see the Pound undercut quite heavily as markets relieve themselves of riskier currencies ahead of the Christmas period when trading winds down. A more muted version of this actually happens every Friday, so feel free to have a look at rates on Friday afternoon to see if this materializes and get a better understanding of how markets are functioning at the moment.

In the meantime, Sterling buyers may be wise to move quite quickly if the time period for your transfer does not allow for you to wait for this latter December period.

Conversely Euro and Australian Dollar buyers may be wise to monitor market rates over the next few weeks, particularly in the run up to December 10th.

If you are planning a currency purchase involving the Pound, it is certainly worth your time contacting me on jjp@currencies.co.uk to order to explore the options open to you to seize any peaks which emerge on GBP/EUR, GBP/AUD and GBP/USD, and to safeguard your transfer from any unexpected turns in global politics and the financial world.

I offer my customers a proactive service to make sure you remain a well informed purchaser and avoid being ‘last to the party’ when attractive levels for buying or selling suddenly emerge. I also work for one of the UK’s leading currency exchange brokerages who provide highly competitive currency exchange rates.

I will answer your email as soon as I am able to since time can very regularly be of the essence when it comes to currency queries. Please feel free also to contact me 01494 787 478 during office hours (8:30-6pm) and ask the reception team to be put through to my line (Joshua).

 

Sterling exchange rates boosted after the Autumn Budget, will the Pound continue to strengthen? (Joseph Wright)

The current levels for converting Pounds into other major currencies are surprisingly attractive when we consider the outlook for the Pound just a few weeks ago.

I think that people planning on converting their Pounds into another major currency, for a property purchase for example, have been dealt a fortunate hand as the Pound hit a 2-month high yesterday on a trade weighted basis, whereas just a few weeks ago the pound was trading at over 5 year lows against the Euro and at over 30 year lows against the US Dollar.

The Pound to Euro exchange rate is now trading closer to 1.20 than 1.10 after gaining 7 cents off the back of Donald Trump’s election victory. The UK economy, and therefore the Pound, has been boosted by the ‘Trump train’ after his warm words about the relationship between the UK and US in his campaign. Barack Obama had previously said the UK would be at the back of the queue on business deals whereas Trump said the opposite, and Trump also has a number of interests in the UK.

The gains for the Pound against the Euro specifically are extensive, making a €200,000 purchase £10,650 cheaper.

The Pound was boosted further yesterday afternoon after the Autumn Budget sprung no surprises. I do think that those planning on converting Pound into another major currency should watch the rates and news as the Pound could come crashing down quicker than it’s risen as is usually the case.

If you are planning a currency conversion involving the Pound, it’s worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

You can also call in and ask reception to speak with me (Joe) on 01494 787 478.

Sterling spikes as Theresa May reassures business and brings confidence to the Pound (Daniel Wright)

The Pound has had a fantastic start to the week, gaining ground against every major currency but the South African Rand over the course of trading today.

As I write this we have seen Sterling exchange rates breach 1.17 against the Euro, hanging around the 1.25 mark against the Dollar and closing in on 1.70 against the Australian Dollar.

Days like this really do show just why it is key to keep in contact with an experienced and proactive currency broker, I have informed lots of clients today about the spike and many of them have taken advantage which has made their currency purchase a lot cheaper.

We deal with overseas property purchases/sales, business transactions, wage payments and much more so if you are in the position that you may need to carry out a currency exchange for any of these reasons then feel free to contact me (Daniel Wright) directly on djw@currencies.co.uk and I will be happy to get in touch personally.

Later this week we will have Chancellor Philip Hammond and his Autumn Statement. Investors and speculators alike will be watching this with baited breath, waiting on hints for how the economy is due to be tackled throughout the ‘brexit’ process and how he plans top approach certain matters.

We still have the small matter of the high court decision regarding Article 50 so this may lead to some exceedingly volatile times coming up which is why it is essential to have someone on your side.

All of the writers here work for one of the top foreign exchange companies in the U.K and can help anyone around the world with their currency exchanges.

We pride ourselves on achieving our clients market leading rates of exchange but on top of this we like to think our level of service is second to none. We now have over 90,000 satisfied clients and have helped thousands of readers of this blog save money over their bank or current broker over the past 7 years.

Feel free to contact me (Daniel Wright) by emailing djw@currencies.co.uk if you feel I can be of assistance to you and I will be more than happy to contact you personally to discuss the various options available  to you in simple terms.

Autumn statement to impact sterling exchange rates this week (Dayle Littlejohn)

Economic data for the UK that was released towards the end of the week exceeded expectation and consequently the pound has remained strong against all of the major currencies. Unemployment has dropped to an 11 year low and monthly Retail Sales numbers were up 1.5% compared to the previous.

The main talking point this week for sterling exchange rates will be the Autumn statement by Chancellor Philip Hammond. The Chancellor has already stated that the UK economy must be ‘watertight’ as Brexit negotiations in the upcoming months will have a major impact on the pound.

I wouldn’t be surprised to see Mr Hammond remain positive whilst given his statement and continue to state that the UK need to seize the opportunities of leaving the European Union. However the statement itself could put pressure on the pound and therefore the gains we have seen for the pound since Donald Trump become President of the US could be reversed.

When purchasing currency it’s crucial to analyse both the currencies you will be trading, as there could be spikes in the market to take advantage of.

Feel free to email me the currency pair you are trading (GBPUSD, GBPAUD, GBPCHF etc) the reason for your trade (company invoice, buying a property) and I will email you with my forecast for the currency pair drl@currencies.co.uk.

Property purchases and sales are my area of expertise, therefore if you need to purchase a foreign currency or you are about to complete on a sale abroad, today is the day to get in touch to discuss your options and to get an understanding of how we can save you as much money as possible.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you minutes and in the past I have saved clients thousands! **

 

Buying Euro and Dollar rates largely stable despite record 14 year highs in retail sales figures (Joshua Privett)

Buying Euro rates are up at some new two month highs today following strong retail sales figures in the UK economy. Luckily for Euro sellers this rally on the Pound was muted thanks to comments over in America.

A mixture of cold weather, worries about further price rises due to the Pound’s relatively weak buying power for foreign goods, and potentially some very prudent planning for the Christmas period, has seen the largest single increase in UK retail sales figures in 14 years.

Euro and Dollar buyers alike can lay their thanks squarely at the feet of this news this morning. However, the gains even before the intervention of news from the US were lacklustre compared to how markets would normally react to such news. 1.17 was only briefly reached on GBP/EUR and such staggeringly positive news regarding such a large sector of the UK economy normally translates into sustained gains measured in whole cents.

We have become used to markets operating with this form of tunnel vision towards large political events such as the Brexit over economic data, however, the next big market mover is expected next Wednesday with the Autumn Statement in the UK.

As stated it was events in the US which managed to stop what should have been a larger rally for the Pound against the Euro.

Events in the US tend to have a direct impact on the Euro’s value, as USD/EUR is the most heavily traded currency pairing in the world, so any negative news in one currency tends to translate into the opposite effect in the other.

In this instance, hints from the FED that the US would not be raising rates at their latest December meeting allowed the Euro to benefit from lowered confidence in the Dollar.

Given that even positive news is not registering heavily on the currency markets for the Pound, and with the potential for the Autumn Statement to reflect the sudden and heavy borrowing activity announced by Theresa May’s new government, Euro and Dollar buyers may be wise to seize the recent gains made available with the surprise impact of the Trump Presidency before this is likely tested next week.

I strongly recommend that if you have a Dollar or Euro buying or selling requirement you should contact me on jjp@currencies.co.uk whilst markets are largely inactive overnight to discuss a strategy for your transfer and the options open to you to secure any tempting levels which emerge immediately.

I have never had an issue beating the rates of exchang on offer elsewhere, and these current buying levels can be fixed in place for anyone planning a foreign currency purchase later in the year and wish to secure these current levels ahead of what is expected to be a tumultous period.

You can also fill out the form below and I will respond to you as soon as I am able.

A potential window of opportunity tomorrow for foreign currency buyers (Dayle Littlejohn)

It has been well documented that Donald Trump’s appointment as President of the United States of America has given sterling a boost against most of the major currencies which is good news for foreign currency buyers. In addition, Unemployment numbers dropped today to a 11 year low to 4.8% (released by the office for National Statistics) providing further strength for the pound.

Retail sales is a measure of the total receipts of retail stores and is a key indicator to consumer spending. The monthly figure is set to rise by 0.4% and the yearly figure up by over 1%. If this is the case I expect the pound will spike further against most of the major currencies which provides a window of opportunity.

Longer term the UK’s Supreme Court decision in regards to Brexit, should continue to ask questions about the strength of the pound. It’s difficult to predict the Supreme Courts decision and how the UK will leave the EU, however the closer we get to the decision volatility will rise and therefore the gains we have seen could diminish. For foreign currency buyers before Christmas, in my opinion the spike in the market is worth taking advantage of.

If you are looking for a currency provider who can keep you up to date with exchange rate movement whilst being able to offer excellent exchange rates, feel free to email me Dayle Littlejohn drl@currencies.co.uk with the currency pair you are trading, the reason for your transfer and the timescales you are working to and I will respond with my forecast.

The type of clients I deal with on a day to day basis are high net individuals, property buyers/ sellers and business owners. In addition if you are already using a brokerage feel free to email me and we can compare exchange rates to make sure you are receiving the best rates possible drl@currencies.co.uk.