Category Archives: Sterling strength
Sterling Euro exchange rates have finished the week almost 3 cents higher than when the week first started.
Prime Minister Theresa May was rather bullish in her speech on Tuesday and claimed that she would seek parliamentary approval concerning Article 50.
With the Supreme Court decision originally due to take take place earlier this week this has now been delayed and the expectation is now for Tuesday morning. However, it appears as though the ‘horse’ has bolted with the PM already having spoken about the issue.
This shows that the power is still clearly with the government and it will be them who will ultimately decide when Article 50 will be triggered and this is what helped the Pound to make the gains.
However, I think investors and speculators will be looking closely at the announcement nonetheless and I think this is likely to cause volatility for Sterling exchange rates so if you’re considering buying or selling Sterling then keep a close eye on the currency markets on Tuesday.
Yesterday evening saw the inauguration of the new President of the United States Donald Trump and although this has yet been felt in the foreign exchange markets his rhetoric was extremely pro-US and bringing back manufacturing to the US.
However, this will clearly be very difficult to change in the short term so expect to see volatility for the US Dollar as next week commences and the US opens for business on Monday.
My prediction going into next week is for Sterling strength against the Euro but weakness vs the US Dollar.
My name is Tom Holian and I have been working in the foreign exchange markets for over 14 years for one of the UK’s leading currency brokers.
Not only does the company I work for offer better rate of exchange than using your own bank but also I can help you with the timing and offer you various different types of contracts to suit your needs.
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The pound has had a very turbulent start to 2017 being pulled from pillar to post on all fronts. What started as a reasonably positive year as markets expected a quick Supreme Court decision to help lift sterling soon gave way to Theresa May attracting headlines over her hard Brexit approach. The roller-coaster continues next week with the Supreme Court case being released Tuesday at 09.30 am. Then on Thursday we have the latest UK GDP data. All in all a busy week, how will sterling react?
Most commentators expect the Supreme Court decision will lead to sterling strength as the court upholds the previous decision by the High Court to force Theresa May to seek parliamentary approval to trigger Article 50. My personal view is this will be the case and sterling could enjoy a very good start to next week. GBPEUR could hit 1.16-1.17, GBPUSD could hit 1.24-1.25, GBPAUD could hit 1.65-1.66. If you have a transfer to consider then making some plans in advance is well worthwhile to capitalise on the volatility. I do feel any spikes will be short-lived so if you need to buy a foreign currency with the pound making some plans sooner rather than later is the best way forward.
As the market has ‘priced in’ the good news the real risk here is if the previous decision is rejected. Most commentators have reported that this is the big risk, sterling is more likely rise than fall. but if it falls it could be a big all! We have learnt in the last few weeks that nothing should be taken for granted on exchange rates, things can change very quickly. The best way to limit your exposure is to make yourself aware of any pending exchanges you might have and we can monitor the market and offer you some practical assistance with the timing of your plans.
My name is Jonathan Watson and I have worked for nearly ten years helping clients buy and sell foreign exchange. Whether buying or selling an overseas property or paying foreign currency invoices I can help business and private clients. Even if you deal with another currency broker it is important to point out that all companies are not the same. I am very confident I can undercut any exchange rate you are offered from another currency broker as well as offer you some insight into the timing and planning of your transaction.
The one certainty to me is that pound sterling rates will remain volatile. I would be very interested to hear from you to offer some help with this volatility and help you to maximise your currency transfer. Please speak to me Jonathan Watson by emailing firstname.lastname@example.org.
Thank you for reading and I look forward to hearing from you and assisting in the future.
UK Prime Minister Theresa May has stolen the headlines this week. The PMs approach of “No deal is better than a bad deal” and that she will allow MP’s to have the final say has surprisingly given the pound a well needed boost against the euro. Furthermore she went on to tell the World Economic forum in Davos that she plans to make the UK a ‘world leader’ on trade.
Mrs May’s positive approach has seen the pound gain 2 1/2 cents against the low points early this week. To put this into monetary terms a €200,000 purchase is now £3,800. Looking ahead the next major decision that will impact GBPEUR exchange rates is the Supreme Court decision, Tuesday morning.
With Mrs May given Parliament the final say on Brexit, I wouldn’t be surprised if she already knows that the Supreme Court will rule in favour of the High Court and that’s why she made the statement in the first place. Therefore Tuesday’s decision could lead to further improvements for GBPEUR exchange rates.
When should I buy my euros?
With exchange rates improving this week and the Supreme Court decision on the horizon, I would ride out the decision and then make my decision. If the market spikes I would look to trade immediately. The company that I work for will keep you up dated with market information whilst having the ability to improve on exchange rates that you will be offered by your bank. If you are looking for the best rates whilst being kept up to date feel free to email email@example.com with your requirements. If you would like to speed the process up call 0044 1494 787 478 and ask to be connected to Dayle Littlejohn.
If I have not covered the currency pair you are trading feel free to email me with the pair (GBPUSD, GBPAUD) the reason for the currency conversion, the timescales and I will respond with my forecast.
Sterling’s Value Soars Following Theresa May’s Brexit Speech – Will This Trend Continue? (Matthew Vassallo)
Sterling’s value soared during Tuesday’s trading, following UK Prime Minister Theresa may’s speech regarding the UK’s Brexit.
This was her most detailed speech to date regarding how the government hopes to facilitate our exit from the EU, with Article 50 still scheduled to be triggered in March to start the formal process.
The Pound benefited from positive comments regarding a future relationship with the remaining EU states and made significant gains against all the major currencies.
GBP/EUR rates rose by over two cents with the pair now trading above 1.15, whilst GBP/USD rates gained over three cents at the high with the pair moving through 1.24, before retracting slightly this morning.
The markets have been left in limbo for months regarding how the UK economy intends to prosper following our exit, so yesterday’s more detailed plan will have come as a relief to investors who have been craving some solid information to work with. Personally, I don’t think the speech gave us a real insight into future policies but of course the noises being made were that the UK would create a stronger economy, which still had a relationship with our closest neighbours.
Theresa May did state that we would no longer be part of the single market but hoped for new custom arrangements with the remaining 27 EU states and that we would still contribute to the EU budget but wasn’t specific regarding how much.
All of this has led to increased investor confidence and the Pound has benefited as a result. This spike has flattened this morning and whilst the speech was certainly more bullish than many expected I’m not convinced it was strong enough for Sterling’s to continue its aggressive advance ever the coming days.
If I was holding GBP and had a short-term currency exchange to make I would be tempted to monitor the market over the coming hours, before making a decision on when to move. I still do not feel that the Pound will be able to sustain any aggressive move up against either the EUR or USD, with March’s timeline for Article 50 likely to handicap any major advances over the coming months.
We may find that investor confidence allows for a short-term improvement but if we start to see a snap back I would be tempted to take advantage of Sterling’s increased value, rather than gamble on what is still a very fragile and unpredictable market.
If you have an upcoming Sterling currency exchange to make and you are concerned by the increased market volatility of late, it may be wise to look at protecting the gains you’ve made, or limiting your losses with one of our forward contracts, rather than gamble on what has become an increasingly volatile and unpredictable market.
If you would like to be kept up to date with all the latest market movements ahead of your currency exchange, or simply wish to compare our award-winning exchange rates with your current provider, then please feel free to contact me on 0044 1494 787 478 and ask one of the team for Matt. Alternatively, I can be emailed directly on firstname.lastname@example.org
Sterling has gained by a huge amount against all major currencies following Theresa May’s comments made earlier today in her Brexit speech.
Although the Prime Minister has said that the UK can not remain in the single market as staying means that we will not be leaving the European Union she also went on to say that the UK would be looking for new trade deals elsewhere as well as trying to negotiate with our European neighbours.
Theresa May is still confident that the UK will trigger Article 50 by the end of March and that it would be parliament that will vote on the final deal due to be agreed between the UK and the European Union.
This is arguably one of the clearest moments since October concerning Brexit and one of the main reasons for Sterling’s improvement during today’s trading session.
We have also seen the Pound make improvements across the board after the losses that Sterling saw over the weekend against all major currencies.
However, although the Pound has made huge gains today the Supreme Court judgement is still due to come out and this could cause further volatility for Sterling exchange rates when the decision is announced.
The biggest winners of the day are those people looking to buy US Dollars with Sterling and with Donald Trump due to be inaugurated on Friday we have seen the Dollar weaken against Sterling by almost 3% or the difference of £3,000 on a currency transfer of £100,000.
We have also seen Sterling gain by almost 3 cents from the low to the high for GBPEUR exchange rates as it looks as though there is a clear intention to carry on the negotiations rather than cast ourselves adrift.
With all the uncertainty expected to continue in the foreign exchange markets it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date and avoid the risk of the market moving against you
If you would like further information about the process or for a live quote when buying currency then feel free to contact me directly.
Having worked in the currency markets since 2003 for one of the UK’s leading currency brokers not only am I able to offer you bank beating exchange rates but also help you with the timing of your transfer.
Tom Holian email@example.com
Sterling exchange rates still looking shaky as we await news on Supreme Court – On the plus side a trade deal with New Zealand may be agreed (Daniel Wright)
As most of our regular readers will be more than aware, Sterling exchange rates have had a pretty torrid time this week, with the pound dropping to its lowest point on a trade weighted basis since October.
We have seen Sterling almost drop below 1.20 on against USD, 1.13 against EUR, 1.60 against AUD, 1.70 against NZD, 1.20 against CHF and it is sat below 1.60 against the Canadian Dollar as I write this!
The uncertainty caused by comments from Prime Minister Theresa May over the weekend and during the week are still causing investors and speculators to remain shaky over the Pound, and economic data has not done anything to provide a backup like it has been over the past few weeks.
The key talking point now is just what will the Supreme Court decide to do? As previously mentioned this decision matters a huge amount not only because it will show us what the next steps will have to be for article 50 being invoked, but it will also more than likely lead to lots of MP’s having their say afterwards and every single comment has the potential to move the market considerably.
On Tuesday we also have Prime Minister Theresa May speaking about Brexit, which makes me wonder whether or not she is expecting to have a result from the Supreme Court before then, if we do then Sterling is set for an extremely busy week.
One positive for the Pound today was news that we appear to have all but agreed a trade deal with New Zealand, and it appears that this is ready to go as soon as possible after Brexit. A number of major economies are stepping forward and happy to do business with the U.K which is no great surprise to me.
More and more good news like this that comes out during this long winded process should only lead to the Pound getting stronger, we just need to get over the potential banana skin of the Supreme Court and Article 50 being invoked first.
If you are in the position where you need to carry out a large currency exchange either imminently or in the coming weeks and months then it is extremely important to have an experienced and proactive broker on your side. Most brokers out there will only try and convince you to buy or sell your currency as soon as possible but we are here to help you try and make the right decision for you.
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Sterling has come under pressure this week following comments made over the weekend by UK Prime Minister Theresa May, regarding how she wished the UK to facilitate our exit from the EU.
She stated the UK would look towards a “hard Brexit”, which ultimately means that we will be cutting nearly all ties with the EU. This has caused investors to panic and the markets have reacted accordingly, with the recent loses against all the major currencies a result of this.
Despite these obvious fears May also mentioned she wanted the best deal for the UK in terms of leaving the EU but stated that we will not be keeping part membership and we were going to break off completely. This means that trade deals and immigration rights will need to be renegotiated and this causes a huge amount of market uncertainty.
Market uncertainty is a currencies killer and this is why the Pound is fighting an uphill battle. Talk of Brexit and how we will facilitate this is likely to drive investor confidence and in turn the Pound’s value for months if not years to come.
These comments were clouded somewhat by UK Chancellor Philip Hammond who admitted no decision had yet been made as to whether the UK would stay in the single market post Brexit. It may be that the Prime Minister is trying to give herself a strong bargaining positon ahead of negotiations with the EU but wither way we just don’t have enough information to hand to make a firm decision either way.
I would not be gambling on the current market and with the UK economy so fragile in the minds of investors and GBP/EUR falling back below 1.15 at yesterday’s low, it may be time to secure your Sterling position and remove the uncertainty surrounding the whole debacle.
With the Supreme Court meeting again today we could get a decision regarding the triggering of Article 50 at any time, so it would be wise for anyone with a Sterling currency requirement to keep in close contact with their personal currency broker, to ensure any opportunities that arise are not missed.
If you have an upcoming Sterling currency exchange to make and you are looking for the best exchange rates available, then please feel free to contact us on 0044 1494 787 478 and ask one of the team for Matt.
We can provide key market information and analysis ahead of any transfer, whilst keeping you up to date with all the latest market movements. We help our client to time their exchange to maximise the market value available and have awards for our exchange rates and service.
If you would like to contact am directly I can be emailed on email@example.com