Tag Archives: rate

Pound slides as May comments lead to ‘Hard Brexit’ being more likely (Daniel Wright)

Sterling exchange rates have taken quite a tumble in early morning trading today, following comments from Prime Minister Theresa May over the weekend suggesting there is a higher possibility of us looking for a ‘hard brexit’ and that control of our borders appeared to be a higher focus than remaining in the single market.

Why does a hard brexit weaken the Pound?

A hard brexit leads to Sterling weakness because it could seriously hamper trade for the U.K and a report from the centre for economics and business research discovered that all sectors that create wealth for the economy would be negatively effected. Obviously a lot would depend on any agreements that get put in place but these may take a great deal of time and the worry is that it is highly doubtful that any agreement that is eventually sought does not end favouring one sector over another, which would mean someone will end up missing out.

What this does create is uncertainty for all sectors within U.K trade and uncertainty is extremely bad for an economy, a company and most importantly for a currency so this has led to the Pound dropping off and losing value all morning so far.

Supreme Court decision to change things?

One factor that may turn around the form of the Pound is the eagerly awaited Supreme Court decision on whether to overturn the need for Thesera May to have to put the triggering of Article 50 through Parliament before moving forward.

Should the Supreme Court stick with the original decision then there is a chance members of Parliament will aim for more of a say in how things are handled which may stop a full on ‘hard brexit’ and could also slow down the process a little which would hopefully give the Pound back a little strength.

On the flip side, a decision to overturn the original result may kick the Pound whilst it is down and the Sterling exchange rates may get even weaker again.

They are back together on January 11th and we expect to see a decision in the few days after this, what this does mean is that if you have a currency exchange to carry out you need to be poised and ready to react quickly.

If you are fairly busy day to day and you do not have time to watch the rates (which move by the second) then why not let one of our dedicated, helpful and friendly brokers do this for you. We have a variety of tools available to assist you in maximising your rate of exchange including rate alerts, limit orders and forward contracts.

Should you need to carry out a currency exchange involving any major currency for you business, a property purchase/sale or any other reason then feel free to contact me (Daniel Wright) on djw@currencies.co.uk personally. Please leave a brief overview of what you need to do and I will personally contact you to discuss the options available and to tailor a game plan. Please note we do not deal in cash or travel money. You can also call our trading floor on 01494 787 478 please quote Pound Sterling Forecast and ask to speak Daniel Wright.

 

 

 

Sterling exchange rates extremely fragile against all currencies (Daniel Wright)

The Pound remains on a knife edge against most major currencies at present, with sharp swings happening totally out of the blue. Today has not been so bad but as an example yesterday evening Sterling lost around 1% in value within an hour, only to gain the majority of it back by the time we came back to the trading floor this morning.

The rest of this week we have a fairly minimal amount of economic data out for the U.K but overnight there are plenty of releases from China which may impact the AUD and NZD along with a flurry of data from the States, not to forget the on-going U.S election which is really starting to heat up.

Next week we will see the U.K release of inflation, unemployment and retail sales data and those waiting for the Pound to get stronger will be hoping that these are positive and act as the catalyst they have been waiting for to pick the Pound back up off of the floor.

With so many violent and unpredictable swings happening it is more vital than ever that you have not only a currency broker helping you with your exchange, but a proactive and well experienced one as booking your rate of exchange at the right time or taking advantage of a spike in your favour can make the difference of thousands of Pounds.

This is where we can step in, there are many currency brokers out there that will say they offer the best rates but the majority are beatable and do not necessarily give you the best level of service. We like to think we do both and with over 100 years of experience between myself and all other writers on this site you would be mad not to give us a try.

Even a quick email to ask for a quote will take you just two minute to do and may make a healthy difference to the cost of your upcoming transaction. We deal with clients that need to buy or sell the Pound all day every day and help with exchanges from £5000 to mulit million transactions. Feel free to email me (Daniel Wright) on djw@currencies.co.uk with a description of your needs and I will be happy to contact you personally.

Make sure you get the most on your foreign exchange – Take a few moments to get a free, no obligation comparison with us (Daniel Wright)

Over the past 6 years we have helped countless readers get a better rate of exchange than they are being offered elsewhere for their business transactions, property purchases/sales, car purchases, overseas weddings, wages or just simply their living expenses.

During the current economic climate it is important to make sure that you are getting the most out of your money and with currency exchange it really is no different.

We have seen an increase in clients contacting us that have been using the same broker for many years assuming that they are still getting a fantastic rate of exchange. Whilst that may be true with some, many actually found that when they compared with us we could actually get them much better and that their rate had slowly got worse year on year much the same as if they did not change their car insurance or electricity supplier.

We also have a lot of property buyers or sellers who come to us that have been referred a broker by their estate agent…. This also more often than not means that you will not be getting the most for your money and the agent generally is pushing you to use their broker because most will get paid a commission for passing over their client. If a brokerage has to pay out a commission then they cannot afford to give the client the very top rate so you end up losing out.

If you are in any of these positions it is important to realise that here at Pound Sterling Forecast we also can help with currency exchanges too, and generally at better rates than elsewhere. We all work for a huge independent brokerage based in the U.K and have been helping clients all over the world for 17 years now.

It is well worth taking two minutes out of your day to email me (Daniel Wright) directly on djw@currencies.co.uk for an honest opinion and to see if we can actually get you a better deal. even saving half a percent on a £200,000 exchange makes it £1000 cheaper for you so it is well worth getting in touch. You can also fill in the form below.

 

RBA cut rates in Australia as expected – U.K PMI Construction out this morning – Will it follow the doom and gloom of yesterday? What will the Bank of England do? (Daniel Wright)

Overnight the RBA cut interest rates in Australia leading to a slight drop in the value of the Australian Dollar and a small buying opportunity for AUD buyers.

The cut was widely expected by the markets so we didn’t see a huge movement in rates, I feel that many investors and speculators are waiting to see what happens with the Bank Of England on Thursday at 12:00. Again, an interest rate cut is expected so I wouldn’t see this having a huge impact on exchange rates however the most important factor on Thursday will be the minutes from the meeting, if we see any nod to QE (Quantitative Easing) and what they suggest could happen next for the U.K economy.

QE is basically printing more money and is generally seen as negative for a currency, so if they do introduce more this is where the Pound may slide. Any other comments on future fiscal policy may also give the Pound an extremely volatile afternoon so keep a close eye on exchange rates this Thursday.

First thing today we have U.K PMI construction figures at 09:30am – This is also one to watch as yesterday the manufacturing figures were the worst since Feb 2013 and led to a drop in the value of Sterling. Throughout August we will continue to see the first full data sets post brexit so the Pound may be in for a tough month.

Should you be in the process of buying a property, sending money overseas for your business or exchanging currency for any other reason then it is well worth getting in contact with me (Daniel Wright) the creator of this site directly. It is rare that we cannot help clients get a better rate than they are being offered elsewhere and we also but a lot of effort into helping our clients time their purchase. You can email me on djw@currencies.co.uk with a brief description of your requirements and a contact number and I will be more than happy to deal with you personally.

Inflation and unemployment figures key for where the pound heads next (Daniel Wright)

We have seen a  fairly quiet day on the trading floor today with little in terms of economic data for the markets to feel off of, however the next two days there are a few big releases for the markets to get their teeth into.

The Pound has been sat just above and just below what I see as a pivotal point against the Euro of 1.20. I feel that if we see Sterling break above this level then the Pound may push up by a couple of cents.

Tomorrow morning we have inflation data out at 09:30am and with inflation being one of the key factors involved in interest rate changes, investors and speculators alike will be watching  to see the results.

Following on from this we have the unemployment rate on Wednesday morning, also due to be released at 09:30am. Expectations are for unemployment to remain steady at 5% so any deviation from this level will no doubt lead to the Pound being particularly volatile.

I personally still feel that the weakness for Sterling will not last, of course there are banana skins ahead that could lead to the odd drop off, but in my opinion Sterling has slightly overshot the runway and should be a little stronger than it is at present.

We do not only offer out up to date and insightful market information but if you have a currency exchange to carry out involving any of the major currencies and you would like to speak with me personally then feel free to email me (Daniel Wright) on djw@currencies.co.uk – I deal with clients buying and selling properties overseas, business transactions, high-net-worth individuals and premier league footballers on a daily basis so would be happy to assist you too in the strictest of confidence.

It only takes two minutes to email me on djw@currencies.co.uk to get a comparison and those few moments spent may save you a great deal of money as it is very rare that I cannot better someones rate of exchange and in this current market it is even more important to make the most of your money.

Pound rallies as the Bank of England leave rates on hold – Boost for Sterling exchange rates (Daniel Wright)

Today we have seen the Pound gain value against every major currency following the Bank of England members voting 8-1 to keep interest rates on hold.

An interest rate cut had been expected by the financial markets and somewhat priced in so the fact that this did not happen led to the Pound gaining back some of the value it had lost.

For anyone looking to buy foreign currency this is a welcome result as your up and coming currency purchase has just become a little cheaper! One word of warning is that Mark Carney did state that easing would more than likely have to happen next month so don’t feel like we are not going to see an interest rate change or other easing bought in, it has just been merely delayed for the time being.

I would imagine the recent change in the political position has had an impact in this decision and that the Bank of England now wish to hold fire on making any sweeping moves to see how the land lies once the dust has settled.

We deal a lot with clients looking to buy or sell overseas property and I had a good long chat with the managing Director of Girasol Homes, a property finder for clients looking to buy property in Portugal and Spain (they do also cater for those looking to sell). We discussed the current market conditions and everything really is a lot more positive than many people have been led to believe out there in the overseas property market.

Those looking to sell have seen a welcome boost in the value of their Euros should they need to bring money back into GBP and those looking to buy  are only a few cents from the rolling ten year average for GBP/EUR so the market really isn’t in that bad a place. Those buyers that do have concerns about market conditions could also approach the possibility of hedging their position a little with a mortgage, this appears to be an inceasingly popular approach.

Should you be looking to buy or sell in Spain or Portugal and you would like to speak with Nigel about the market or how he will be able to help then feel free to visit www.girasolhomes.co.uk or email him at nigel@girasolhomes.co.uk quoting Pound Sterling Forecast so he knows where you found him.

Back on the currency front we have a fairly quiet day for most currencies now but overnight we have Chinese growth figures which should impact the Australian Dollar, and European inflation/trade balance figures at 10:00am tomorrow.

Mark Carney, Governor of the Bank of England is speaking tomorrow at 1pm so for anyone with an interest in buying or selling Sterling it would be well worth you getting in touch with us directly so that we can keep you in touch with the action.

Not only do we ensure clients get up to the minute market news but we all work for a brokerage turning over roughly a billion pounds worth of currency a year, meaning we could probably get you a better rate of exchange than your current provider or bank due to our buying power.

If you would like to get a quote or to find out more information about our award winning rates and customer service then feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will be happy to get in touch personally.

Sterling exchange rates cool off after a very bullish week, will this trend continue? (Joseph Wright)

After the week we’ve just had I’m expecting next week’s trading session to be very interesting for Sterling exchange rates, and hopefully by this time next week we’ll have more clarity as to which direction the Pound is moving.

In the meantime I believe those looking to sell GBP in order to purchase other major currencies such as US Dollars, Euro’s or Australian Dollars for example, have been presented with some surprisingly good entry levels, especially when we consider that the EU Referendum is just around the corner and that event is what’s been weighing on Sterling’s value for most of this year.

This week Sterling hit it’s strongest level against the Euro for 3 months, and this was mostly due to the UK bookies now claiming that there is a 70% likelihood of the UK remaining within the Eurozone.

This news has been well received by the marketplace as historically speaking, political uncertainty weighs on the value of the underlying currency, therefore the bookies and polls suggesting that the UK public has already made its decision has resulted in a strong Pound as investors and speculators become less tentative when buying Pounds (or buying financial asset’s denominated in Pounds).

Today, Sterling has weakening across the board as many would have expected. Having gained so much ground on it’s peer’s this week I felt that it was inevitable that Sterling exchange rates would cool off today, particularly this afternoon, as day traders and speculators alike take their profits which would then drive down the value of Sterling somewhat.

Next week I’m expecting Sterling to continue to ease off as I struggle to justify the likes of GBPEUR trading above 1.30 with such a historic vote around the corner, and I think anyone with a currency requirement involving selling Pounds should consider making that transfer sooner as opposed to later.

If you would like to discuss an upcoming currency exchange you have to make, feel free to contact me on 01494 787478, just ask reception for Joseph. I work for one of the UK’s longest standing specialist currency brokers. We can save clients thousands when compared with the high street banks and also offer a lot more than just award winning exchange rates and high levels of security. Next week see’s the release of some key data which could swing exchange rates so we can also discuss how these events could effect your exchange if you like. You can also contact me by email on jxw@currencies.co.uk 

Pound Sterling Forecast – Inflation and unemployment key for Sterling exchange rates in the next two days (Daniel Wright)

Tomorrow morning brings the release of key inflation data for the U.K at 09:30am and expectations are for a slight drop off month on month but for figures to remain steady at 0.5% year on year.

The target for the Bank of England is to keep inflation steady at 2% so any figure higher than expectations may give Sterling a welcome boost and any drop off for inflation figures could knock the Pound back after a solid enough start to the week.

On Wednesday morning, also at 09:30am we have unemployment figures for the U.K and expectations are for the level of unemployment to remain at 5.1%. Unemployment is one of the key parameters considered when the Bank of England think about interest rate changes along with average earnings. The reason average earnings are so key is that if they are not going up in line or above inflation then the public would not have any more spare money to spend so an extra lump to pay on their mortgage payments each month may make life fairly difficult.

With the referendum slowly creeping up on us I feel like the Government and Bank of England would be doing their best to make economic data appear steady so I would not be surprised to see a good few days for Sterling exchange rates and a slight boost for the Pound.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk  and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

Sterling exchange rates have a quiet start to the week – Tomorrow and Thursday are sure to be different! (Daniel Wright)

So far this week we have not seen a great deal of movement for Sterling exchange rates but may that be about to change?

Tomorrow morning we have industrial and manufacturing figures out for the U.K and following poor construction figures last week, investors and speculators will be poised to see how the U.K performed in these sectors during April. Both releases are due out at 09:30am tomorrow morning so if you have an imminent exchange to make it is well worth tracking the market shortly after this time.

Thursday has the greatest potential for market volatility as we have the Bank of England interest rate decision, inflation report and the meeting minutes from the interest rate decision.

It is highly unlikely that we see any changes to interest rates however investors and speculators alike will be watching to see if any of the 9 members of the BOE have changed their stance with which way they would like interest rates to move.

The inflation report will also be of great importance, Mark Carney (Governor of the Bank of England) will give an overview as to what he plans to do about the current level of inflation and any potential changes to forecasts or fiscal policy may also result in a volatile day for Sterling exchange rates.

With releases like this coming out all the time it is key that you have a proactive and reliable broker on your side should you be due to carry out an exchange and that is where I can step in.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk  and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.

Sterling exchange rates crumble further as Brexit concerns still hang over the head of the Pound (Daniel Wright)

The Pound has taken yet another bashing in trading over the last 24 hours and my confidence in a recovery is starting to be seriously tested.

We even saw industrial and manufacturing data coming out as negative on Friday morning and in my view should we start to see a big push back up in the direction we need a catalyst and so far that just has not arrived.

The next big data we have out for the U.K is a flurry of inflation data due out on Tuesday morning. Further negative news may lead to yet another tumble but a positive release could finally give those that are looking to buy foreign currency the lift they are waiting for.

The issue for the Pound at present is uncertainty, both in a political and economic sense. The referendum is not only causing investors and speculators to leave the Pound alone as they do not know what our economy will be facing shortly, but it is also causing our politicians to fight between themselves and this is also bad news for a currency.

All in all I still believe that against the grain there is room for the Pound to improve in the coming weeks, however the catalyst does need to arrive and fast.

If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.

If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on djw@currencies.co.uk and I will be more than happy to get in touch with you personally.