Tag Archives: pound

Sterling exchange rate movements today – Quiet week for economic data this week (Daniel Wright)

First and foremost our sincere condolences to anyone involved in the air crash today, always deeply saddening to hear such news.

Regarding currency, we have seen another fairly stable day for Sterling against the Euro and Dollar yet with fairly sharp drops against the Swiss Franc, Australian Dollar, Canadian Dollar, New Zealand Dollar and South African Rand.

We saw inflation figures out earlier this morning which immediately knocked the Pound as inflation dropped to a rather concerning 0% against market expectations of dropping down to 0.1%.

The inflation issue remains a concern for the Bank of England, along with the fact that Manufacturing figures at the start of the week showing the U.k manufacturing levels are really down.

This may be partially down to the fact that Sterling has been so strong against the Euro of late which has possibly led to European clients of U.K businesses seeking to buy their goods and services from elsewhere in Europe instead of from the U.K as Sterling is just so expensive for them.

With this in mind it is no surprise that the 1.40 level for GBP/EUR did not stick around for long and although there are many problems still within Europe I personally still do not see Sterling gaining significant ground against the Euro in the coming weeks, so if you have a pending requirement to buy Euros for your business or to purchase a property overseas then it may be prudent to look at making a purchase soon rather than potentially seeing another boat of opportunity sail away.

If you have the need to exchange any currency in the coming days, weeks or months then it is key to have a proactive and efficient currency broker on your side for it. The company we work for has won awards both for our exchange rates and customer service so even if you are already set up with a broker it may be well worth you getting in touch with me directly and should save you money.

You can email me (Daniel Wright) on djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to contact you personally. I look forward to hearing from you.

 

Sterling Euro creeps down from 1.40 – Market poised on Federal Reserve decision tomorrow and RBA minutes confirm future interest rate cut is probable (Daniel Wright)

An interesting day on the currency markets for Sterling, seeing the rate come down from 1.40 against the Euro, finished the day in the mid 1.47s against the Dollar and ended close to 1.94 against the Australian Dollar.

Earlier this morning European inflation figures were one of the main drivers for a little Euro strength which has been an extremely rare occurrence over the past few weeks. This gave those looking to sell Euros a brief opportunity to achieve a slightly better price and showed again just how important it is to buy on spikes when they occur and not to get greedy and miss out.

There is every chance we may see the rate push back through 1.40 but it is key to remember that if you are buying Euros then you are almost already a whopping 10% up on the rate at the turn of the year so if you are in the process of buying a property overseas with Euros it may be prudent to at least lock in a portion of your funds as there are still plenty of issues that could bring the rate back down… One being the election.

If you are looking to buy or indeed sell Euros in the near future and you would like my assistance and to get not only award winning exchange rates but a high level of customer service then feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be more than happy to contact you personally.

Anyone in the position of selling Dollars will be pleased with the last few weeks movements as we saw the rate burst through the 1.50 mark for the first time in a few years. Tomorrow we have the Federal Reserve interest rate decision and monetary policy statement which will be a key indicator as to when the Fed may look to raise interest rates and could lead to quite a volatile evening for the Dollar.

For Australian Dollar followers the RBA commented last night in their latest meeting minutes that they would cut interest rates if they needed to in the future which suggests there is every chance of an interest rate cut and the Australian Dollar to weaken again in the coming months.

An interest rate cut is generally seen as negative for a currency and a hike in rates is generally positive and with exchange rates moving on speculation as well as fact even the slightest hint of a cut or hike can lead to quite a lot of market movement.

Tomorrow is an extremely busy day for those with Sterling to exchange to or from any other currency. We have the Bank of England minutes from their last interest rate decision at 09:30am and the budget at 12:30pm so be sure to keep a keen eye on the rates on and shortly after these times.

Once again if you have an exchange to carry out then I welcome all new clients and can generally get better exchange rates than any other company out there so even if you are already set up with a broker there is a good chance you can still save money. All you need to do to get in touch is email me (Daniel Wright) directly on djw@currencies.co.uk with a number and an explanation of what you are looking to do and I will make sure I get in touch.

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!

Sterling Euro rate at best in nearly 8 years!

The Pound has spiked to levels that we have not seen since I started working here on this trading floor nearly 7 and a half years ago, creating a fantastic opportunity for those looking to send money overseas.

Anyone in the process of buying a property over in Europe has had a fantastic year so far and we are almost being surprised on a daily basis with the movements we are seeing.

If you are looking to make a purchase of Euros either now or in the near future then it may be sensible to get in touch with me directly to take advantage of movements we have not seen in years and years.

The mere fact that the U.K is considering and still discussing raising interest rates whilst we only just have the European Central Bank starting a QE (Quantitative Easing) plan just shows how far behind us in terms of recovery the Eurozone is and this has been well and truly shown in the rate swing.

With the election soon to gather pace in the media which will more than likely create political uncertainty this opportunity may not hang around for long.

If you are looking to purchase a property overseas this year and you want to take advantage of current buying levels 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.

Feel free to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to contact you personally to help with any currency transaction you need to carry out.

Important economic data out tomorrow for those with an interest in Euros and Dollars (Daniel Wright)

Although quiet for the U.K tomorrow brings us two fairly important pieces of economic data from both Europe and the U.S with European growth figures and U.S Non-Farm payroll data due out at 10:00am and 13:30pm respectively.

The final revision for growth figures during quarter 4 of 2014 is due out at 10am and expectations are for the figure to have been revised up a little which may lead to a little Euro strength to end off what has been a torrid week for Euro exchange rates.

Later on in the day we have U.S Non-Farm Payroll data which is a data release important for those with a Dollar interest and indeed interest in the ‘riskier’ currencies such as the AUD, NZD and ZAR. Non-Farm Payroll data is essentially the number of people in Non-agricultural employment over in the States and is a key indication as to how their economy is performing.

This release can cause quite a lot of volatility because predictions are made in advance and these can be wildly out. The market moves on rumours and predictions as well as fact, and should the figure come out quite a way from initial predictions the market does correct itself rather swiftly.The reason this effects the AUD, NZD and ZAR and pretty much most majors is because as I am sure you can imagine it will affect attitude to risk and will lead to rapid movements of large amounts of money globally in what generally presents an interesting week to say the least without any surprises popping up during the course of it.

If you have an upcoming transfer to carry out and want to get the best exchange rates along with great customer service and knowledge of the markets then email me (Daniel Wright) directly djw@currencies.co.uk I welcome all enquiries for bank to bank transfers however i’m afraid I cannot help with cash transactions or speculation.

 

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!

This site is protected by Comment SPAM Wiper.