Category Archives: USD
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Whether you are buying that dream property overseas, emigrating to pastures new or a large corporate trading regular positions across multiple currencies it is important to get as much information as possible to help with the timing of your transaction, it also puts you in the best position to try and maximise your exchange. To highlight how much the market can move anyone buying Euros in the past week has experienced a high low range of 1.163-1.1918 (a 2.4% shift) and a difference of €5,760 on a £200k position. A similar trend has been seen for the USD with rates shifting 1.9% (range 1.5015 to 1.5288) a difference of $5,460 on a £200k money exchange. Even more significant moves have been seen on the AUD and NZD – with both moving in excess of 6% against the pound in a six week period.
As you can see by timing your exchange significant savings can be made. The purpose of this website is to provide relevant information to help private and corporate clients with upcoming money transfers to arrange. As one of the authors on the site, my colleagues and I have personally helped thousands of clients with their foreign exchange and would be happy to see what we can do for you. I work for one of the UK’s largest independent currency brokers and am confident I can undercut any price you have been offered by your bank or current provider.
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As pressure remains on the pound we have the best rates for selling Dollars to buy sterling for 10 weeks and very good rates for buying sterling with Euros. (Ben Amrany)
The pound has really been hit against a host of currencies over the course of this week. Trading is now down at a 10 week low against the USD and is down by around 2 cents against the Euro this week. If the weakening of the pound is having an effect on the currency you need to purchase then please feel free to contact me at email@example.com and I can explain the options that are available to you to help you minimise your risk to the currency markets.
The fall for sterling all started with the drop in Inflation for the UK economy. As inflation falls it leaves the market to believe that the Bank of England are unlikely to raise interest rates and this then weakens the currency. Following on from the fall in inflation we then had the Bank of England release their minutes from their last interest rate and monetary easing decision on Wednesday. Once again this worked against the pound as three members of the Bank of England voted in favour of quantitative easing (QE). The reason why on this occasion it had such a big effect on sterling was due to the fact that the markets were expecting the number of members voting for QE to have dropped down to one or maybe two out of the nine. Recent growth figures
for the UK economy has been moving in the right direction so I think it was a surprise that three members still voted for further QE.
Going forward this could keep the pressure on the pound for the coming weeks up until the next Bank of England interest rate decision in June. Today the revised figures to the UK GDP came out the exact same so for those of you that were hoping this would have boosted the pound this did not happen. If you have an up and coming transfer to make I normally recommend my
clients act on spikes in their favour. The last couple of the weeks the pound has been fairly flat so now this movement has occurred many clients have once again capitalised on selling their Dollars and Euros to buy the pound. I feel in the long run that the pound will rise again against both the Dollar and Euro but be cautious as we have hit a low this year of 1.48 V USD and 1.13 v the EUR.
If you would like to speak with me you can call the trading floor and ask for Ben Amrany or alternatively email me at firstname.lastname@example.org with your requirement and contact details and I will discuss the best plan of action for your
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After a good run against the Euro of late Sterling has had a difficult few days to the start of the week as GBPEUR rates have dropped by 2 cents. There are a number of factors to consider that have been negative to the Pound. As highlighted in yesterday’s report Inflation rates fell which caused Sterling to drop against the Euro.
In theory if inflation is low it means that the Bank of England can keep interest rates low for a longer period of time which means less confidence in investing in Sterling therefore causing the Pound to weaken.
The Bank of England minutes out this morning at 930am have seen a 6-3 split against continuing with further Quantitative Easing. The worry for the markets is that many doubt the Bank of England’s commitment to try to affect Inflation.
The recent extension of further bond-buying by the US has led to a huge amount of Dollar strength recently and with the UK deciding to opt against further QE themselves this could be another reason for Sterling’s recent weakness.
With the new Governor Mark Carney due to take over from Mervyn King in July his stance during his time in Canada is to keep interest rates low. If you’re considering making a currency transfer and want to ensure you are getting competitive rates of exchange that can improve upon the high street banks then feel to contact me directly for a free quote. Tom Holian email@example.com
The UK has this morning published Retail Sales which were 1.3% lower in April than in March as bad weather continues to blight the UK. Food sales also fell to their lowest monthly level in almost two years. With the UK having avoided a triple dip recession recently this gave Sterling a welcome boost but potentially the release has just papered over the cracks.
If you are buying or selling Australian Dollars feel free to check out our sister website www.australiandollarforecast.com which is more specific to your needs.
The Pound has lost ground against both the EUR and USD during Tuesday’s trading, following this morning’s announcement that UK inflation figures fell during April. This announcement was not widely anticipated and came as a shock to investors, who hastily pulled their funds away from GBP. The news has only added to already growing fears over the long-term growth prospects of the UK economy, despite the recent news that we managed to avoid a further recession.
Today’s data will also lead many to believe that the Bank of England (BoE) now have further leeway to implement another round of Quantitative Easing, which will generally be viewed by the markets as a negative for that particular economy and may ultimately effect the strength of its currency.
GBP/EUR rates had remained fairly flat over the past few trading days but today’s poor economic data caused the Pound to fall by a cent against its EUR counterpart and a cent and a half against the USD. I expect further volatility on GBP/EUR, although any move back towards 1.20 will be dependent on how events in key Eurozone economies fare over the coming weeks. Personally I do not expect rates to break through 1.19 based on the current economic climate, with a move back towards 1.16 a possibility as the UK economy stagnates again during Q3 of this year. Although the USD has moved back through 1.52 against GBP, I do feel the spike will be short lived and I anticipate GBP/USD rates to move back towards 1.53 over the coming days.
Here at www.poundsterlingforecast.co.uk we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements then please call us on 0044 1494 787 478 or email me directly at firstname.lastname@example.org.
Sterling exchange rates are once again still fairly flat against the majority of major currencies, as we await inflationary data due out at 09:30am this morning.
Inflation data is key at the moment for the bank of England and it appears to be a thorn in their side, should inflation creep up too high we could start to see big calls for a interest rate hike as this is a route that can be taken to tackle high inflation. An interest rate hike is generally seen as positive for the currency concerned and a rate cut is seen as negative so this could lead to a little boost for the Pound.
Tomorrow is also key, we have the Bank of England minutes from the last interest rate decision (the first since being out of recession) and any indications of rate hikes or quantitative Easing may lead to a volatile Wednesday morning for the Pound.
Do you carry out currency transfers and find our information useful? Did you know we can help with currency exchange as well? We can get award winning rates of exchange and also offer a great level of customer service for bank transfers ranging from £1000 to multi million Pound transactions. Email me today email@example.com with a brief description of what you are looking to do and I will be more than happy to assist you.
Bank of England Quarterly Inflation report, EU GDP figures and the Australian Budget. Busy week on the currency markets! (Mike Vaughan)
Sterling started the week poorly against a number of currencies falling against the Euro and US dollar but continuing its recent resurgence against the Australian dollar. This week there is plenty of data to keep anyone with a keen eye on the money markets with some of the notable data sets as follow:
- Today 09:30 BST - Australia will release its yearly budget. This will be keenly viewed as the Australian government faces questions about its handling of the economy ahead of elections later this year. With the economy having been affected by weaker global forecasts and in particular from China, for which the Australian economy is heaviliy reliant, the outcome of the budget could be very interesting. Some analysts say that while the mining sector has been the driving force behind Australia’s steady economic expansion, other parts of the economy have stagnated or grown much less quickly. A key reason has been the strength of the AUD and the RBA (Reserve Bank of Australia) have been open in highlighting their concerns and may act to devalue the dollar, potentially good news for those buying dollars.
- Wednesday 10:00 BST- anyone with an interest in the Euro should watch out for EU GDP figures. Figures are expected to stay at -0.9% but any deviation from the expected figure and watch out for volatility on Euro exchange rates.
- Wednesday 09:30 BST – UK unemployment figures expected to stay at 7.9%
- Wednesday 10:30 BST – Bank of England Quarterly Inflation report and Mervyn King press conference. The BofE publishes a report of the detailed economic analysis and inflation projections on which the Bank’s Monetary Policy Committee bases its interest rate decisions, and presents an assessment of the prospects for UK inflation over the following two years. Watch out for any clues with regards to QE, I personally believe the Bank will stay firm on its current p[olicies until the new governor Mark Carney takes over from Mervyn King in July.
- Friday 00:45 BST – Japan GDP release, expected to show an increase from a flat 0% to 0.7%.
- Friday 13:30 BST - to finish off the week on Friday we have inflation figures and unemployment data from the US at 13:30 BST.
As you can see we have plenty of data released for the rest of the week. To be kept up to date with the impact these data sets may have for your individual requirement then please contact me and I will happily run though my forecasts and run through the various contracts we can offer to help maximise your currency exchange. I am very confident I can help achieve a better rate than your current provider. Please call the office on +44 (0)1494 787478 or email me (Mike) with a brief overview of your requirement and I will gladly contact you to help with your money exchange. I can be reached at firstname.lastname@example.org
GBP/EUR, GBP/USD, GBP/AUD exchange rate forecasts. Get help to maximise your currency exchange (Michael Vaughan)
As expected the Bank of England (BofE) decided to keep interest rates at a record low of 0.5% and decided against extending its Quantitative Easing (QE) programme.
This outcome was very much forecast and the market did very little as a result as many analysts expect little to come from the BofE until new governor Mark Carney takes over from Mervyn King in July. Following the release the National Institute for Economic and Social Research (NIESR) released its forecast for GDP for the last three months to include April, the figures showed a stronger than expected level of 0.8% continuing the recent positive tones coming from the UK, something that could lead to sterling strength against a number of major currencies.
Sterling exchange rates have shown a marked improvement against the single currency since the year low of 1.1370 in March. Since this time the market has peaked at 1.19 (a shift of 4.5%) but has now remained range bound between 1.1750-1.1850 since the start of May. But what now for GBP/EUR?
For me I believe the pound will begin to find further support and may break through the 1.20 barrier heading into June, however I believe when Mr Carney takes over his reign as the head of the Central Bank then I believe he will look to impose himself immediately and look to extend QE to help boost the UK economy further. Should we see this then I would expect Sterling exchange rates to fall back towards the 1.18 territory as a result. For this reason anyone looking to buy Euros I feel you may get better value in the weeks to come but those selling may wish to consider their options.
GBP/USD Exchange Rates
As against the Euro, sterling has seen a mini-recovery against the greenback rallying from the year low of 1.489 in March to 1.559 earlier this week. This again represents a 4.5% shift in less than two months and to me represents a strong buy opportunity.
For me I feel GBP/USD is reaching a peak and would expect levels to fall back towards the 1.52/53 level as again the pound is likely to come under threat from future expectations regarding QE. I also feel it is a matter of time before problems in Europe re-surface and the major benefactor is likely to be the USD.
For those looking at GBP/USD in the coming days watch out for a speech from Federal Reserve (FED) Chairman Ben Bernanke this afternoon at 13:30 – positive tones from Bernanke are likely to lend support to the US dollar this afternoon.
Has the Aussie bubble burst?
In the last month the pound has rallied close to 9 cents against the AUD following weaker sentiment from China, and the Reserve Bank of Australia cutting interest rates earlier this week. This is creating some great opportunities for AUD buyers a trend that may continue.
For anyone selling AUD I would still urge you to take advantage of rates that are historically still very favourable. The average trade price for GBP/AUD for the last year sits around 1.54, so with levels currently at 1.52 you are still ahead of the game. For me the current trend and sentiment from Australia is a concern and I would expect rates to move towards 1.55 as I feel the central bank is still concerned about the strength of the Aussie and the impact this is having on the value of Australian exports. I would not be surprised to see another interest rate cut within the next 3 months, something that could devalue the AUD further.
Should you have an upcoming money exchange to arrange and you would like more information on the currency service we provide please contact the office on 01494 787478 or email me (Mike) at email@example.com
Best rates on Euros and Dollars with three big data releases out for sterling exchange rates. (Ben Amrany)
Today could end up being quite an interesting day for sterling exchange rates with an interest rate decision out at midday followed by the asset purchase facility (QE), manufacturing data out at 9.30 and then this afternoon we have a GDP estimate for the month of April.
Looking at what may occur today I feel it is safe to state that we will not see the Bank of England raise interest rates. Where all sterling buyers and sellers should be cautious is with the QE decision. Due to the fact that the UK posted better than expected growth figures to avoid a triple dip recession last month I personally feel that the Bank will hold off from initiating any further QE this month. Having said that if they do unexpectedly pump more money into the economy then you may find that the pound will be under a lot of selling pressure and make your currency purchase more expensive if you are buying Euros or Dollars.
If you are looking at buying sterling with your Euros or Dollars then you may be wise to look at your options this morning. If no QE happens then the pound may start to slightly strengthen again. At the end of last week sterling was looking like it may break through the 1.19 level but could not get through this resistance level. Could today be the day where this happens.
If you are looking at buying Euros or Dollars I would see what happens this afternoon with the release of the growth (GDP) figures. After last month’s worries of falling back into a triple dip recession which was missed you may find that this afternoons data could give the pound a further boost. Do feel free to email me at firstname.lastname@example.org or call me in the office on 01494 787478 and ask for Ben Amrany to discuss your requirement and the options that are available to you. If you are concerned about what lays ahead for the pound we can help you minimise your risk to exchange rate fluctuations.
An overview of the pound in general has seen the currency gain quite significantly after the dreadful start to the year. Before the Cyprus event GBP/EUR was down at 1.13 and we hit a low of around 1.48 against the USD. Now the rates are hovering around 1.1825 versus the Euro and 1.5550 versus the US Dollar. The gains are much welcomed and if you feel that the pound is spiking and you are looking at capitalising in the near future let me know what your requirement is and I will look at helping you with your conversion by making you a significant saving on the rate of exchange over your high street bank.
My contact details are below should you want some assistance.
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Good news for the UK economy has been sparse of late and despite the UK avoiding a further recession, it should be noted that our economy did only grow by a mere 0.3%. This is hardly an inspiring figure and not one that is going to breed investor confidence in the long-term. Many believe that this is merely papering over increasingly large cracks in the UK economy and the only reason we have seen GBP spike, is the on-going economic uncertainty that has engulfed the entire Eurozone region and sucked investor out of the single currency.
Personally I always felt that we would avoid recession by the skin of our teeth and whilst this has proved to be the case, predicting how GBP/EUR rates will fare over the coming months is becoming an increasingly difficult task. The recent volatility we have seen on GBP/EUR looks set to continue, as investors will be pulled between Sterling and the EUR depending on the latest set of economic figures, or the next doom and gloom speech by key political figures.
Despite the on-going negativity we should see the recent spike against the EUR and the USD as a major positive for all those looking to purchase those currencies. We have seen GBP/EUR rates spike over 2 cents in the past couple of weeks and we have seen GBP/USD move all the way through 1.55, when only a couple of months ago we were trading in the low 1.50′s. When you have an economy as weak and fragile as our own any positive movement should be valued and if I were buying either of those two currencies, I would be looking closely at my options based on the current market levels.
Here at Foreign Currency Direct plc we are able to provide our clients not only with award winning rates of exchange but a bespoke service designed to give you the client, as much insight into the markets as possible. If you would like to find out the type of rates or contracts we offer, or need to be kept up to date with all the latest market movements then please call us on 0044 1494 787 478 or email me directly at email@example.com.
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 firstname.lastname@example.org with a brief description of what you are looking to do and I will be more than happy to assist you.