Tag Archives: strength

Euro strength at present – What is causing the current level of strength?

We have an exceedingly busy trading floor here today so I thought I would direct you all to my most recent market report on the Euro which can be found by clicking here.

This report should explain just what is causing Euro strength and how long we may expect for it to continue.

For news on the Australian Dollar and how the Chinese stock plunge is having an impact click here


Feel free to email me (Daniel Wright) directly on djw@currencies.co.uk if you would like any further information.

GBP to rise this morning?

The pound is in for a very busy day with a number of key releases mainly from the labour market with UK Unemployment data due. This release actually rose last month and could be a cause for concern. If we see a further increase sterling might really come under some pressure owing to the weaker economy. All in all if you are looking at making a transfer buying or selling pound sterling an awareness of all of your options well in advance is usually a good idea. If you need to make a transfer how do you know you are  getting the best rates? Speak to me to find out by emailing jmw@currencies.co.uk

The next thing to beware of on exchange rates is very much likely to be this Chinese news with the Chinese central bank cutting their pegged level to other currencies. This has presented much uncertainty into the forex markets with a major sell off on the Aussie and Kiwi presenting a very good time to buy these currencies with the pound. The volatility of the last 48 hours just shows nothing should ever be taken for granted on exchange rates!

For more information on your options and how to navigate the uncertainty please speak to me Jonathan on jmw@currencies.co.uk

Just what will happen with Greece and how will this impact sterling exchange rates?

Trying to figure out what is next with Greece is a very difficult thing. We just don’t know how the markets will react when there is such a wide range of outcomes! The sensible thing in this case is to plan for all eventualities I feel and take stock of the current rates. Do not be upset if you find out that the rate you had been expecting and banking on is no longer available next week! Trying to make plans in such an uncertain market is of course no easy feat but something I would suggest doing in this environment.

If you need to buy a foreign currency with sterling the current exchange rates are much improved compared to recent years. There is a strong likelihood they could dip once a Greek deal is achieved since many foreign currencies will strengthen as investor confidence returns to the market. The Euro will rise on the back of any positive news for Greece and commodity currencies like the AUD, NZD and CAD will also strengthen. The USD should weaken as it goes against the trend, tomorrow’s Non-Farm Payroll for the US is the big news for the end of the week. For more information at no cost or obligation please contact me Jonathan on jmw@currencies.co.uk

Euro gains back a little strength as Greece may now accept terms – GBP/CAD spikes following poor growth figures (Daniel Wright)

We have seen a little Euro strength this morning as the Greek situation took one step closer to being resolved…. Well for the time being anyway!

Personally I feel all we are going to see is some papering over of cracks at best and this whole situation will no doubt be back in the headlines before we know it.

The only thing that is certain over the next week or two is that there will be some great buying opportunities and some fantastic selling opportunities for the Euro so if you are in the process of buying or selling a property overseas then it may be prudent to get in touch with us here. We have a number of free contract types than can help you to secure a rate should there be a spike or protect yourself again a drop in exchange rates should it happen suddenly. You can email me directly on djw@currencies.co.uk and I will be more than happy to contact you personally to explain how these work.

We have seen a great spike for those looking to buy the Canadian Dollar of late thanks to growth figures in Canada coming out a little worse than expectations and indeed dropping into negative territory at -0.1%.

Rates for Sterling against the Canadian Dollar are creeping towards the 2 mark and I feel this may now be a distinct possibility in the coming weeks.

if you are looking to exchange any major currency then I can assist you both in terms of assistance with timing and getting you a great rate when you do book it out. As above just feel free to contact me (Daniel Wright) by emailing on djw@currencies.co.uk with a brief description of your requirements and a contact number and I shall be more than happy to contact you personally to explain how I can help you.


Best Time in 8 years to buy Euros with pounds!

With the UK election now out the way and concerns remaining over Greece GBPEUR is at some of the best levels for 8 years presenting an excellent opportunity for anyone buying Euros. Continued uncertainty over Greece may push this higher but with the latest revision of UK GDP due tomorrow, the current excellent levels may not last too long.

This morning’s UK GDP data has seen sterling come under pressure. Last month’s data showed the UK economy was growing at 0.3% which was less than most other leading economies causing GBP to fall. If you have a transaction involving the pound please let me know so I can alert you to any developments. Making some plans to buy soon might be sensible as we could now see sterling fall from these excellent highs, particularly if there is a Greek deal arranged soon.

For more information or to trade please contact me on jmw@currencies.co.uk 

Where next for the pound?

The pound is often a tricky currency to predict with movements being related not just to what is happening in the UK but also globally. For example part of the rise on GBPEUR in 2015 is attributable to the worries in the Eurozone, investors parked their cash in their UK and reduced Euro holdings to compensate for the uncertainty. Recent improvements in the economic outlook for the Eurozone have seen the rate tip back and attention come back to the UK.

Despite the inherent difficult in making firm predictions we can sometimes forecast events which are likely to have an important impact on the market. Every four of five years there is an election in the UK which usually causes the pound to weaken. The economic uncertainty as a result of the election is highly likely to cause the pound to weaken in the weeks leading up to it. If you need to make a transfer around this time making some firm plans in advance is a good idea.

In such uncertainty you always have options including fixing exchange rates in advance and using Stop Loss or Limit orders which will trigger at automatic levels so you don’t miss out on any spikes in your favour. Please speak to me about all of your options ahead of this very important event by emailing jmw@currencies.co.uk. The gamble in such a market is keeping the blinkers on and not at least considering your options….

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!

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 strength today following positive unemployment figures – The Pound hits over a seven year high against the Euro – Is this now the best time to buy Euros? (Daniel Wright)

The Pound shot up during morning trading and has continued to creep higher during this afternoon following much better than expected unemployment figures along with uncertainty over Greece still casting a grey cloud over the Euro.

The Greek debt agreement is now starting to feel like an old soap opera with us being left with cliffhangers over and over again without really seeing any real resolutions.

The latest I had heard earlier today was that Greece would be looking to request a six month extension on their debt deadline which will further delay a main resolution and will no doubt keep this saga continuing.

Those looking to buy a property within the Euro zone will currently have a huge smile on their face as buying €300,000 has now become £16,000 cheaper so the temptation to book something in now is hard to resist.

It is easy to forget that you do not have to book out all of your currency in one go, a mistake many people still make. If ever I have the need to make a large currency purchase I would split my requirement into two or even three chunks. The beauty of this is that you are eliminating a portion of your risk should the rate suddenly come back down yet should it creep up a little further you are still able to take advantage of it.

If you have Euros to buy or sell, or indeed any other major currency to exchange and you want the very best rates of exchange along with exceptional customer service then you can deal with me personally. All you need to do is email me (Daniel Wright) directly on djw@currencies.co.uk and I would be more than happy to contact you personally.


GBPEUR is close to a 7 year high, the best time to buy Euros with sterling since 2008

The Swiss National bank decision last week reminds us of the uncertain nature of the currency markets and with two extremely important events tomorrow and Sunday for the Euro, I wanted to make sure you my clients understood the potential implications. Whether selling the New Zealand dollar or buying the Australian and US, the events in the Eurozone have changed market sentiment towards all currencies.

If you are planning any transfers in not just the next week but the next few months you might want to consider all of your options or highlight a situation to me. That way I can provide updates and information so you do not miss out.

GBPEUR is close to a 7 year high, the best time to buy Euros with sterling since 2008

GBPUSD is close to a 18 month low, it is the best time to sell USD for GBP since July 2013

The only way to predict the future is to create it!

Against such uncertainty using one of our contracts you can create the future. Forward purchasing using a ‘forward contract’ allows you to buy all the currency you need today paying only a small deposit and the balance within a year. Limiting your exposure to some of the most uncertain markets in years seems a very good idea to me.

Alternatively 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.

For more information trade please email me Jonathan on jmw@currencies.co.uk

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