Tag Archives: rate
Pound Sterling exchange rates – Once again Thursday is the day that may be key (Daniel Wright)
Sterling exchange rates have been reasonably static lately against the major currencies however tomorrow has the potential to be quite a market mover.
We have Australian unemployment figures out overnight tonight followed by Industrial and manufacturing production figures for the U.K tomorrow at 09:30am. The unemployment figures have the potential to shift rates against the Australian Dollar and the production figures may affect the Pound against all majors.
Most importantly we have the Bank of England interest rate decision and any further news on more Quantitative Easing will be extremely key. For those of you that have follwed the market over the past few years it seems that every time Sterling is performing well and heading into the right direction the Government or the Bank of England step in and do something to knock it back down again so you must be aware this is the perfect time for them to do so.
Should tomorrow pass without any surprises I think the Pound may be set for another positive month now that the potential recession is out of the way and focus has turned to other troubled economies hopefully Sterling will become a currency of choice once again.
If you have an upcoming currency transfer involving buying or selling the Pound then feel free to contact me directly as I can assist you with not only getting the very best exchange rate but also a full round service of making the transaction as smooth as possible. If this sounds of interest then please email me directly djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to assist you.
Pound Sterling exchange rates against the Euro – Will we see an interest rate cut today? What effect will it have? (Daniel Wright)
Today is a big day for Europe as we may potentially see an interest rate cut which could lead to further weakness for the Euro.
Exchange rates for the pound against the Euro have remained fairly steady since the big push up following the issue in Cyprus however today has the potential to move rates onwards and upwards once more.
Of course, with so much speculation that this is going to happen there is a huge risk that if we do not see a cut in rates then we may see the Euro gain a little strength quite rapidly as the markets correct themselves – If you have a pending transfer to carry out involving buying or selling the Euro then it is key that you are ready to act fast.
If you would like me to get in touch personally following the decision then feel free to email me djw@currencies.co.uk with a brief description of what you are looking to do and a contact number for me to call you on.
We also have some construction figures for the U.K this morning which could give a nod to how the second quarter started for the U.K in 2013 -This could affect the Pound against all major currencies – We are currently at an 11 week high to buy the Australian Dollar and Canadian Dollar which does lead to a great temptation to buy these particular currencies in case we see nthe rates slip back down again.
Personally I think Sterling confidence is up and the Pound may well start to creep in the right direction as I have been saying since the start of this year, however you must also be aware that the pattern tends to be that as soon as Sterling looks like it is finally about to push on something comes out to knock it straight back down again.
If you want to achieve the very best exchange rates, or even to ask me if the rate you are being offered is good before you accept it then feel free to get in touch with me directly – You can contact me by email djw@currencies.co.uk or call me directly on 01494 787 478 during U.K office hours, please ask for Daniel Wright.
Pound Sterling Forecast – What has happened and what may happen to the pound going forward? Sterling exchange rate news against the Euro, Dollar, Australian Dollar, New Zealand Dollar, Swiss Franc and South African Rand
Good afternoon – Please find the latest news surrounding the Pound and what may happen going forward:
Sterling – Euro
The Pound has had a fairly stable week against the Euro.
Today could have created a great deal of volatility and there were some fairly swift exchange rate movements however head of the European Central Bank Mario Draghi did not announce anything of any great significance during his press conference this afternoon and the bank of England kept everything as normal regarding interest rates and Quantitative Easing.
Tomorrow morning we have European Retail Sales figures out which you would imagine will not be great so we may see a small Euro buying opportunity in the morning.
Sterling – Dollar
The Dollar is seemingly making a little fight back once again against the Pound however four factors could affect this in the short term. Firstly the BOE interest rate decision today, secondly the issue with North Korea…. Hopefully this will calm down before any major action happens however be wary that you could see swift movements for the USD should the current threats start to gain some traction.
Thirdly, we have chairman of the Federal Reserve Ben Bernanke speaking this evening on the U.S economy so be aware of potential sharp swings for the Dollar overnight depending on what he says regarding future economic policy.
Finally, we have Non-Farm Payroll data out tomorrow for the States which can actually affect all major currencies. NFP data is essentially the number of people in non agricultural employment within the U.S and the reason it can lead to market volatility is it can effect global attitude to risk – Keep your eyes peeled for this data at 13:30pm tomorrow.
Sterling – Australian Dollar/New Zealand Dollar
The Pound is still finding these two as tough opposition and with news that commodity prices had risen by over 7% recently and that the Reserve Bank of Australia have once again kept rates on hold. The strange thing with these pairings is that both Governments appear to be disappointed with how strong their currencies are however neither seems to be doing much about it.
The general outlook is that the trend may continue unless someone steps in to do something about it however if global attitude to risk suddenly decreases then there is a good chance we may see a sharp spike and a potential buying opportunity – contact me today if you want to be made aware should this situation occur.
Sterling – South African Rand
This pairing has been fairly stable of late however once again attitude to risk falling globally may lead to the ZAR weakening again along with any further troubles over in South Africa that we saw a few months back.
Sterling – Swiss Franc
Again, no major movements of late for the pound against the Swiss Franc since the huge charge the Swissy made against Sterling a few months ago – Gaining around 8 cents in a week or so. This pairing is a strange one as the Swiss Government are still not particularly happy with the strength of their currency at present so at any point we could see them bring in a new fiscal policy like we saw quite some time ago where the Swiss Franc lost 10 cents in an hour!
All in all I think the strength of the Pound will be reliant on what happens with the bank of England today and also any rumours or predictions surrounding whether or not the U.K will fall back into recession on the 25th April.
If you have an upcoming currency transfer to make and you already have a trading facility then feel free to get in touch and I will be more than happy to assist you or monitor the market on your behalf. If you do not have a trading facility yet think I would be able to help you both in terms of a great rate of exchange and level of customer service then click here to register with us which is completely free and carries no obligation but will allow you to get a comparison against your current provider to see if I can help you.
I look forward to speaking with you!
New from Pound Sterling Forecast – Email rate checker get in touch today!
Well, I did predict something fairly big was due to happen a few weeks ago and so far Cyprus has certainly had quite an impact on the markets. I am sure there is still more to come from all of this and that this year is going to be interesting yet a little worrying, my previous post surrounding this can be seen by clicking here.
Are you carrying out a currency exchange today? Do you want to make sure you get the very best rate of exchange?
No matter who your current provider if you are carrying out a currency exchange today either on a standard or forward contract basis I am sure I can save you money.
If you are a regular reader you will be aware that this site has been around for years and all the authors on here including myself work for a specialist foreign exchange brokerage based in the U.K that has been trading for nearly 14 years. We are FSA regulated and authorised as a payments institute and have also won numerous awards for our rates of exchange including best exchange rates in the Sunday Times and Daily Telegraph, on top of this we also have won a National business award for our customer service.
So far I have personally helped thousands of clients save money from contacting me through this site. As a trial I welcome anyone today who is due to exchange currency (minimum £5000) to email me with the price they have been quoted by their broker plus any associated costs. Within 5 minutes I will email straight back with the price I can offer along with costs, I will also add a link to register if the rate is of interest and if it is then it takes just two minutes to get set up and I can have your rate booked and your money saved within a matter of minutes. If the rate is not of interest then you do not have to reply to me.
Even if you think you are currently getting a good rate you may not be, like with buying anything it is always good to compare and I am willing to cut our company margin for clients if it means winning new business.
Please feel free to email me directly (Daniel Wright) with your quote and costs on djw@currencies.co.uk and I will get back to you within five minutes today until 6pm.
Sterling exchange rates – What has Cyprus meant for the Pound against the Euro, Dollar and other major currencies?
The trading floor here is absolutely manic today as it has been for the past week or so mainly thanks the the on-going tale of events over in Cyprus.
Quite simply how can you be comfortable now holding more than €100,000 in an account in a bank withing one of the more troubled economies – realistically you can’t!
The Sterling – Euro exchange rate has been up and down like a yo-yo of late and with news of a potential credit rating downgrade for the U.K by Fitch on Friday evening it did look like the week may start off on the back foot for Sterling unless something major came from Cyprus.
Sterling has indeed lost ground against a number of major currencies but has also gained against those linked to the Euro after events unfolding today.
The Cypriot issue has no doubt created a huge problem for banks all over Europe and in my view is absolutely ridiculous and personally I feel it will now hold the Euro back from gaining too much strength in the near term. For those of you looking to buy Euros in the near future there should be some great buying opportunities coming up however do not make the classic mistake of getting too greedy, in my experience it is always the clients that hold out for that little that seem to end up actually losing out.
If you would like to be informed of any spike in the market then feel free to email me directly for a spike alert djw@currencies.co.uk - just last week a client got in touch with me requesting this, I emailed and called him when the market shot up and then got him a much better rate than he was being offered by his current broker – We don’t only pride ourselves on a highly efficient service but also our rates of exchange too! You have absolutely nothing to lose by contacting me for a comparison just to make sure you are getting the best price around.
Now, what does the rest of the week bring? Personally I feel there will be an extremely volatile market throughout these next few days and it is very hard to put together a decent argument as to how the Euro will strengthen back so I feel (and this is merely an opinion) that the Pound may gain a little more ground against the Euro, especially with rumours that we may see an imminent Italian credit rating downgrade.
Against the Dollar and riskier currencies I see a much flatter market however if things really do kick off in Europe you may see a little Dollar strength as investors seek a safer haven to run to.
If you would like an up to date forecast regarding any currency pairing then feel free to email me directly or to fill in the enquiry form on this website and one of our highly knowledgeable traders will give you a call back to discuss your requirements. We deal with bank to bank transfers ranging from £1000 to help pay bills overseas to multi-million Pound corporate transactions – Just leave a brief description of what you are looking to do and we will make sure the right person gets straight in touch. Contact me (Daniel Wright) the main author and owner of this site by emailing me at djw@currencies.co.uk I look forward to speaking with you.
Pound Sterling exchange rate update – The week so far – Cyprus, Bank of England minutes, The Budget and what may happen going forward this week?
Good afternoon,
Wow, what a choppy week so far for Sterling especially against the Euro!
News on Friday night that Cyprus were planning to essentially tax money from savings accounts sent the Euro into a plunge and made buying Euros a lot cheaper over the weekend, following this there has been constant speculation as to what may happen next leading to exchange rates for GBP/EUR going up and down like a yo-yo.
This volatile market has led to some great buying opportunities over the course of the week and I have made many people that have informed me of upcoming transfers aware of these spikes in the market.
This morning the Bank of England minutes from their previous interest rate decision actually helped the Pound a little against all major currencies as they showed there had been no extra votes in favour of any further Quantitative Easing.
The budget this lunchtime led to exchange rates moving by over a cent from high to low during its announcement – a difference of £735.00 on a €100,000 purchase. Luckily nothing too terrible has been announced so the Pound has indeed held its ground so far.
The Pound has indeed had a terribly rocky start to 2013 and unless we start to see potential that the U.K may avoid a triple dip recession then we may see these minor gains drop back again.
The on-going situation in Cyprus will however hold the most force this week in my personal opinion, purely by mentioning the plans to tax savings accounts we may see panic in Cyprus and possibly other troubled economies once the Cypriot banks re-open and the longer that they don’t the more chance of trouble erupting too.
Tonight we have the Federal Reserve Interest rate decision over in the States and GDP (Gross Domestic Product) details from the States.
No change in interest rates is expected in the USA but do be aware they may bring in or comment on new fiscal policies. Over in New Zealand GDP figures are expected to show growth of 0.9% which will be fairly solid for the NZD if they do come out as expected, any change to this however may lead to a sharp correction for GBP/NZD overnight.
If you have a pending transaction to make involving buying or selling Sterling against any other major currency then it is key that you make me aware, I can then inform you of any opportunities that arise in a market that literally moves every two seconds.
Feel free to reply to email me directly on djw@currencies.co.uk
I have thousands of satisfied clients that I have personally dealt with and quite simply I am here to save you money over your bank or current choice of broker along with helping you get a smooth and efficient service.
Wow – We have a very buy week ahead for Sterling exchange rates – Interest rate decisions galore rounded off with Non-farm payroll data from the States to round things off
Following an extremely busy start to the year this week shouldn’t fail to keep the market volatility going…. We have interest rate decisions from Australia, Japan, Canada, UK and Europe not to mention Non-Farm payroll data from the U.S on Friday afternoon.
We do not expect any changes to Interest rates around the globe however comments and voting regarding economic may well be key for where we se exchange rate head throughout the week.
There are many other data releases inclusive of Australian GDP and European inflation data that can also lead to big swings in exchange rates so if you have a pending currency transfer to make it is key you have an experienced and proactive currency broker on your side.
This is where we can come in and help you, not only has the company we work for won numerous awards for exchange rates in national newspapers but we have also won a National business award for out customer service.
When you call us you get straight through to a real trader and you deal with that trader throughout the entire process, we don’t do call centers and we pride ourselves on just one point of contact, meaning the person you deal with knows your situation inside out.
If you are using a broker or your bank and you aren’t getting the attention you feel you should be surrounding your currency transfer, or you feel you may be able to get a better rate of exchange than you are currently receiving then please do feel free to get in touch with us for a direct comparison. You can email me (Daniel Wright) the creator and owner of this site directly and I will deal with you personally if you so wish djw@currencies.co.uk or fill in the enquiry form on this page and one of our experienced currency brokers will call you straight back.
Personally I feel unless the Bank of England throw a spanner into the works the Pound may have a week of recovery however in this current market and with the releases due out this week it is extremely hard to know exactly what may happen next, if you want to be kept fully up to date either keep checking back on this site or email me with your contact number and a brief description of your requirements as above.
Why is the pound dropping against the Euro? What has happened? Why is the rate for GBP/EUR so weak?
The most notable movement on the markets we saw last week for Sterling followers was in my view the drop we saw for the Pound against the Euro.
GBP/EUR exchange rates came down from being up in the 1.23s to a 10 month low currently hovering just above the 1.20 level as I write this.
There are numerous reasons why we have seen this drop and quite frankly slightly surprising turnaround of late. Firstly the U.K Service and manufacturing sector data has been particularly poor so far this year, raising concerns of a triple dip recession in the U.K this year which you would imagine could knock the Pound considerably as the U.K continues to struggle to tread water in these murky trouble filled economic waters.
The NIESR (National Institute of Social and Economic Research) predicted that U.K GDP (Gross Domestic Product) figures were due to come out at -0.3% for the final quarter of 2012. The NIESR are generally quite near the mark and GDP is a measure of how much an economy grew or shrank during a particular period of time, so if they are indeed close again this time then we are back in negative territory and two consecutive quarters of negative growth would indeed officially put us in the triple dip recession.. I am sure the papers in the U.K would love that!
On the other side of things the Euro has been gaining strength against most major currencies. Head of the ECB (European Central Bank) Mario Draghi came out with some fairly positive comments at his last press conference and European bonds have sold well in recent auctions suggesting that confidence is pouring back in for investors in the Eurozone. Confidence can be a big market mover and somehow many people seem to have let the tremendous trouble still ahead for Europe, the issues in Spain and Greece have certainly not been resolved and I feel that sooner or later this will all come to a head and we will see the Eurozone crisis as front page news again… The only problem for those looking to buy Euros is that this still may be some time away!
If you are in the position where you need to buy or sell Pound or Euros then it is key to have an experienced and knowledgeable currency broker on your side… It can make a huge difference and when it comes to getting the best rate of exchange when you do decide to trade, it is important to have a broker with award winning exchange rates too.
I can offer you all of the above! If you find my information useful and would like to speak with me personally then I will always be more than happy to help, I deal with bank to bank transactions and not cash or speculation and I generally will transfer anything over £2000 up to multi million Pound transactions.
Feel free to email me directly with a short description of your requirements and with a good number to contact you on and time to call, you do not have to be U.K based to take advantage of this service. You can get in touch with me on djw@currencies.co.uk I look forward to hearing from you.
Why you should use an award winning currency broker instead of your bank (Daniel Wright)
There are many reasons why if you have an upcoming currency transaction to make you should be using a currency brokerage instead of your bank and I thought I would list them below:
1) Rates of exchange - Of course one of the main reasons a broker exists is because they can get you a much better rate of exchange than the bank. banks tend to work off of a fixed daily rate where as a broker will work to a live market and actually put some work into the levels for you. Usually they will also have the ability to put your transfer together with others of a higher value which could result in you getting the same rate as if you are transfering a much larger sum than you are.
2) Service - One of the big moans about the banks is the fact that the service people achieve from them can be fairly poor. Of course currency exchange will not be the person dealing with your needs at the banks specialist subject, yet it is exactly all a broker deals with all day every day therfore the transaction should be smooth, knowledge will be high surrounding your circumstances and in general the reports I get back from my clients is it is a much more satisyfying and less stressful way to send funds overseas or bring money back.
3) Help on decision making when to make the trade - Personally I cannot directly advise you but I can give you my personal opinion on when I would ‘press the button’ on a trade. This can be priceless information – We don’t only get you the best rate when you exchange fund but we help you decide when to do it – The markets move every two seconds so having a pair of eyes and ears on the market can make a huge difference.
4) Types of contraccts - We offer numerous contract options to suit your needs which again can save you a fortune, I will outline these below:
A SPOT CONTRACT is taken out by a client for the immediate purchase and delivery of a currency. The client secures a rate over the phone, a contract is sent to them confirming the rate that they have achieved, the
amount of currency they have bought, how much they need to settle and when by. Standard settlement date for these contracts is 2 working days and can be made by bank transfer, cheque or building society / bank draft. Once the client’s funds are with us and clear the foreign currency is available to be remitted to the account of their choosing.
A FORWARD CONTRACT is taken out by a client in order to secure a rate for delivery at a future date anything up to 2 years ahead. The client secures a rate over the phone, a contract is sent to them confirming the rate that they have achieved, the amount of currency they have bought, how much they need to settle and when by. A small deposit is required against the contract (again normally within 2 working days) and the remainder of the contract’s value is due at any point up to the final settlement date of the contract. Settlement again can be made by bank transfer, cheque or building society / bank draft. Once the client’s funds are with us and clear the foreign currency is available to be remitted to the account of their choosing. A client may choose to settle a forward contract in tranches in order to send sections of their foreign currency overseas, this method is very useful for companies sending funds on a regular basis but want the rate to remain the same throughout a given time period. The real benefit of this type of contract is that clients can be fully aware from the outset of their business cost’s therefore making these transfers more similar to the process in the UK, a process that most people would be far more knowledgeable about.
LIMIT ORDERS are placed in the market when people are looking for an exchange rate that isn’t currently available. They are confirmed to the client using a contract and are in place 24 hours a day, 7 days a week enabling rates to be secured even when UK markets are not open. If the rate is achieved the client is informed and a normal SPOT or FORWARD contract is then issued. There is no cost to place a limit order and it can be canceled or amended at any point with one phone call as long as the order has not been filled.
STOP LOSS ORDERS are similiar to a limit order however you choose a rate you want no worse than – Should the market take a tumble overnight and that rate be hit even for a second then your funds are purchased automatically – This contract is great if you have particular budget and cannot afford to go below a certain rate – Like with the limit order you cvan cancel or amend it at any time so you can in effect chase the market up if the rates get better and your order has not been filled.
These are just a few reasons why you should seriously consider using our service – If you have been following my site for a period of time now hopefully you will find the market information useful and easy to understand… If you do then why not get in contact to find out how I can help you with any currency requirements too. The company I work for has won awards for exchange rates in the Sunday Times and the Daily Telegraph along with a National Business Award for customer service. We are FSA regulated and austhorised as a small payments institute and as part of that we keep all client funds in a completely seperate client transaction account, meaning your funds are safe and secure and never part of our business dealings.
If you are currently using another broker it will do you no harm to get a comparison which takes a matter of minutes and can be done by emailing me directly on djw@currencies.co.uk and I will get back to you promptly. I
If you do not currently use a broker and have a pending transaction to carry out for either your business, you are purchasing a property abroad or indeed any reason you need to send money overseas or bring money back then feel free to contact me directly and I shall be more than happy to add you to growing and happy our list of 46,000 clients. please feel free to email me on djw@currencies.co.uk with a short explanation of what you are looking to do and I shall get straight back in touch.
For those of you that aren’t aware as well www.poundsterlingforecast.com has just been awarded best financial blog in the country in a recent competition run by Hitachi Capital Finance and this was voted for by the public, thank you for those of you who voted and more det
