Category Archives: Sterling strength

Will Sterling’s Positive Momentum Continue? (Matthew Vassallo)

GBP’s positive run against the EUR has continued this week, with GBP/EUR rates hitting 1.2868 at today’s high. This positive momentum has continued from last week, pushing the currency pair back up to a fresh two year high. This has given those clients holding Sterling some excellent buying opportunities, although many are now hoping this positive spike continues up to 1.30 on the exchange.

However, a word of caution to all those waiting for further market improvement. The EUR is likely to find support under 1.30 as this is a key resistance barrier and we will need to see a further shift in market conditions in order to breach this level and even if this opportunity does present itself, it is likely the Bank of England (BoE) will step in to try and talk down market expectations in the hope this will then curtail any further rises for the Pound. A strong Pound is attractive for those buying properties or goods abroad but ultimately it will have a negative impact on our economy if the result of this means that our largest trading partners (Eurozone) can no longer afford to import goods and services from the UK.

GBP/USD rates continue to float between 1.61-1.63, although the recent USD strength seems to have solidified the Greenbacks position under 1.65. It does now seem as if the FED will raise their interest rates before the BoE and along with recent improvements in the US economy, I expect the recent USD strength to continue.

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on mtv@currencies.co.uk

Exchange rate super saver – Last day of the month/quarter and we are feeling generous so contact us today! (Daniel Wright)

Having helped thousands of new clients that have contacted me through this site I thought I may put an offer out there for anyone that has not already got in touch yet reads our updates on a regular basis.

If this relates to you  then I welcome you to contact me directly with how much you are looking to exchange, what rate you have been offered and your contact number and I am confident I will be able to beat anything with our one day currency sale.

Any small improvement on an exchange rate can make your currency much cheaper to buy so this really is a great opportunity if you know you have a pending currency transfer to make.

Please note we do not deal in cash/ travel money.

All you need to do is email me (Daniel Wright) the editor and owner of this site on djw@currencies.co.uk with your details and I will get in touch personally.

We now have almost 60,000 regular readers each month and we would like to thank all of you for supporting our site over the years.

 

Sterling could be in for a very tough Winter…

Sterling has had a truly remarkable year making firm gains against pretty much all currencies and presenting some of the best rates to buy a foreign currency with in years. GBPUSD hit a 5 year high, GBPEUR has hit a two year high (and not far off a 6 year high!) and GBPNZD and GBPAUD are also both at multi year highs… Clearly sterling is faring well but this now begs the question will it continue?

October is looking like a tough month for the pound  with economic releases from September’s data likely to be poor owing to lower business and consumer confidence due to the Scottish referendum. I feel this is likely to feed into the rest of the year and with it interest rate hike expectations (currently expected in April) liable to be pushed back further. Economic growth in the UK is currently running at 0.8% and with house prices not rising as fast as previously I think the need to raise rates will dampen in Q4.

Tomorrow is some very important Eurozone news on Inflation which will be indicative of how much QE we can expect Thursday from the ECB. With so much volatility surrounding this release making some careful plans ready to trade on the news seems sensible.

I couldn’t possibly fit everything important in one post, would you read the whole article anyway? So if you need to consider a currency exchange and wish for further information please contact me directly on jmw@currencies.co.uk. I work as a foreign exchange dealer and we focus on a personal proactive service to help you get the most from the market. Please contact me for more information regarding your situation.

Sterling Euro close to 2 year high (Tom Holian)

Sterling Euro exchange rates have recently hit a 2 year high as Britain chose to remain United this month. The ECB also chose to cut interest rates to just 0.05% which led global investors to sell the Euro.

With the uncertainty as to how Scotland voted now old news this has led Sterling to gain against the single currency. Indeed, the ECB will decide what to do with monetary policy as it meets on Thursday. ECB president Mario Draghi has been quoted as saying  ‘the economic recovery in the Euro area is losing momentum.’

Therefore, I think we could be in for more QE either this month or next which could push Sterling towards 1.30 against the Euro during the course of October.

US  revised growth statistics were published on Friday which showed year on year growth to be 4.6% one of the highest rates in the western economies. This sent the Euro vs Dollar rate to its lowest level since July 2013 and I think investors will continue to buy Dollars and sell Euros. My other prediction for October is that we’ll see GBPUSD rates fall below 1.60 as the Fed look at end their current tapering.

On early Monday morning we see the release of Eurozone Consumer Confidence at 10am. Predictions are for a fall to -11.4 but personally I think this could be even worse for the Eurozone.

Therefore, if you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote Tom Holian teh@currencies.co.uk

 

 

 

GBPEUR levels reach 2 YEAH HIGH – Buying Opportunity

GBPEUR levels hit fresh two year highs this week against the single currency as speculation continues to build about interest rate change in the UK. Mark Carney, the head of the Bank of England, spoke yesterday afternoon and was very positive about interest rate change in the UK. That in turn increased the likelihood which was priced into the market through yesterday afternoon and into today.  Yesterday the head of the European Central bank also spoke and was the opposite with a negative outlook for the Europeans Economy.  This large different between both policy and health has created this large increase in the value of the Pound against the single currency.

When this news broke we saw  SPIKE in the market, this is when the market prices in quickly the new information and was when these new highs where reached.  Day trades push the levels up and then the profit they have made is taken out of the market which is when we see levels creep back down again.  It is a bit like a yo-yo impact and you can see that on the graphs of the currency pairing over the last 24 hours as the market prices in this information.  Here we offer SPIKE NOTIFICATIONS for our client base which are interested allowing them to take full advantage of opportunities. This is something we can equally make available to readers here if this is of interest please register via email at hse@currencies.co.uk

Moving forward I think these levels give you euro buyers a great opportunity to get a good level. Moving forward to the end of the year I do think we could have higher levels still but timing the trade will remain key.

If you are on the other side however with euro’s to sell things will not be so rose. Levels have been getting increasingly more expensive for sellers and is a trend I generally expect to continue. To limit your exposure or look at the options in full available to you to maximise your transfer please free free to get in contact to discuss. Contact myself STEVE EAKINS via my personal email address at hse@currencies.co.uk

Happy trading

Sterling on the up, will the trend continue? (Mike Vaughan)

This afternoon the pound rallied against a host of currencies following a speech from Bank of England governor Mark Carney indicating that households should be prepared for higher borrowing costs as he suggested the point at which the bank will consider raising rates is getting closer. As a result the pound has surged to fresh highs during a week that has been relatively quiet data wise.

Due to it being relatively quiet I thought I would be an opportune time to highlight the movements we have seen for sterling throughout the course of this year. This will give you an insight as to current market trends and may influence your decision regarding your own individual money transfer.

Sterling against the green back (US dollar) has seen a high/low this year ranging from 1.7160-1.6094 a 6.6% shift (majority of this having been seen in the past three weeks). The year average sits in the region of 1.65 so the current buy levels of 1.64 is about par for the course this year.

Looking at the single currency and since the 1st January the overriding trend has been in the pounds favour. On January the 1st levels sat at 1.2045 peaking at 1.28 last week (a 5.9% shift and fresh two year high). Average trade levels sit at approximately 1.2450 so with current levels sitting at 1.2750 Euro buyers are ahead of the game. If I was buying Euros I would view the current levels as an opportunity.

Finally looking at the Australian dollar and recently the GBP/AUD pairing has seen one of the biggest swings with the pound having rallied 12 cents since the 8th September. Current levels are now very much more in line with January’s price of 1.86. It peaked at 1.90 late January before slumping to the year low of 1.72 earlier this month (10.5% high/low range). Yearly averages sit roughly at 1.81 so again current prices are looking good for AUD buyers.

As you can see the pound is currently seeing some good value against a number of currencies sitting at a near 6 month high against the AUD and over a two year high against the Euro. To take advantage or get more information on the currency service we provide then please call the office on 01494 787478 or email Mike mgv@currencies.co.uk

Sterling Euro Exchange Rates hit 1.28 (Tom Holian)

Sterling Euro exchange rates have this morning broken through the levels of 1.28 following a speech by ECB President Mario Draghi this morning.

Eurozone consumer confidence has fallen and Drgahi has suggested that the ECB will act again to combat deflation, high unemployment and low growth.

For the time being this period is offering excellent opportunities to buy Euros with Sterling and for anyone who waited until after the Scottish vote they have benefited from not making a currency transfer.

Currently Sterling vs Euro has now hit a 2 year high and with inflation at just 0.4% this is worryingly low so we could see further Sterling gains during the remainder of this week.

Euro vs Dollar is the lowest since July 2013 and according to Mario Draghi ‘the economic recovery in the Euro area is losing momentum.

Tomorrow morning sees the release of both German & French consumer confidence data which if lower than expected could see further Euro weakness.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly fro a free quote. Tom Holian teh@currencies.co.uk

 

 

 

Will sterling continue to rise

The pound remains at elevated levels and it would appear it shall continue to do so. Expectations of Quantitative Easing in the Eurozone next month are keeping the Euro weak and following the dollar’s recent surge investor appetite for favourite the safe haven looks set to remain cooled for the time being.

The pound was looking in serious danger on the back of a possible Yes vote in the referendum but these fears have now cooled with the No vote. There are however significant reasons for concern for GBP weakness down the line with the UK election and the possibility of the EU referendum to follow. These topics could make the Scottish referendum look like a Parish Councillors meeting by comparison…

All in all the news is generally very positive for the pound at present but further gains in the absence of something ‘new’ to impress investors look limited. If you need to buy a foreign currency with sterling capitalising on these extremely impressive levels might be the best course of action. To be notified of any impressive spikes please contact me Jonathan on jmw@currencies.co.uk

 

Sterling Euro rates close to 2 year high (Tom Holian)

Sterling Euro exchange rates have held steady this week with rates just shy of a 2 year high reached immediately after the Scottish referendum on early Friday morning.

Focus will now move back towards the UK and considerations as to when the Bank of England may look to increase interest rates. BoE governor Mark Carney has recently hinted that interest rates are likely to go up in Spring 2015.

With the US deciding to end their current tapering plan in October we could see the Dollar strengthen leading to Euro weakness. Therefore, we could even see Sterling improve against the single currency towards the end of October if the tapering finishes.

Yesterday we saw a brief respite for the Euro with German PMI services data slightly better than expected but with French & German consumer confidence due on early Friday morning we could see another good opportunity for Euro buyers.

If you would like to be kept up to date with exchange rate movements and if you have a currency transfer to make and want to save money on exchange rates compared to using your bank then  contact me directly for a free quote Tom Holian teh@currencies.co.uk

 

 

Sterling remains stable in slow week for economic data (Daniel Wright)

The Pound has made minor gains against most majors this week so far however important economic data is extremely thin on the ground and I would expect this to be the case during trading tomorrow as well.

Sterling exchange rates had a very volatile ride over the majority of September as investors and speculators alike geared themselves up for what may come from the Scottish referendum. Now that the dust appears to have settled on that matter we have seen a little Sterling strength against most major currencies as we have a little certainty both regarding the economy and politically bought back to the market.

The Pound is close to a half a year high against the Australian Dollar today though which is refreshing news for anyone looking to buy Australian Dollars in the coming days and weeks, whilst sat on the cusp of a two and a half year high against the Euro and the highest rate against the Dollar for the past few weeks so if you are looking to buy foreign currency then now certainly isn’t the worst of timing.

Tomorrow is again extremely quite with regard to economic data so unless any major surprises crop up I would expect a fairly range bound day which could actually be the ideal time to take a moment to get in touch with us directly should you have an up and coming currency transfer to make involving either buying or indeed selling the Pound.

I can help you personally with either and do not only pride myself on an efficient level of service but also on beating the exchange rates of banks and other currency brokers, so anyone that does contact me through this site can ensure that I will do my very best to make sure they make a significant enough saving to use the company I work for rather than their current  provider.

All you would need to do if you would like a quote or more information on the service I can provide is to email me (Daniel Wright) directly on djw@currencies.co.uk and i will be more than happy to contact you personally to let you know how I can assist you.

This site is protected by Comment SPAM Wiper.