Category Archives: USD

Unimpressive GDP figures see Sterling marginally losing value heading into the weekend (Joshua Privett)

GBP/EUR, GBP/USD and GBP/AUD are all at a net loss so far today following some lackluster GDP figures for the UK economy which caused confidence in the Pound to wither slightly ahead of the start of December next week. 

This data was to be a second revision of the GDP growth in the UK for the third quarter of 2015. Revisions are new calculations based on more information revealed to the UK’s office for National Statistics concerning business activity within that period.

The last revision in October showed that the initial figures were massively inflated for UK GDP, and the subsequent downgrade caused Sterling to fall dramatically against all major currencies – particularly on GBP/EUR.

In this case markets were hoping that the second and final revision would show some more positive figures, and that the announcement last month was an anomaly. However this was not the case as the poorer growth was confirmed and Sterling’s value fell gradually throughout the trading day as a result. GBP/EUR hit 1.41 again briefly and GBP/USD has hit their worst buying levels since April.

The last day of the month is quite quiet in terms of data to reverse this trend. In fact normal trading patterns of ‘profit-taking’ at the end of the month will likely exaggerate this trend on Monday.

The investors at banks and financial institutions who move hundreds of millions, and are the main drivers of currency market movements, change their positions and strategies ahead of the following month of trading. Due to the poor finish to Sterling its unlikely their profits will stored in Pounds compared to better performing currencies such as the Dollar, so Sterling should be set for further falls due to lack of demand at the end of the month.

I strongly recommend that anyone with Euros to buy with Sterling (GBP/EUR) should contact me on 01494 787 478 and ask the reception for Joshua to discuss a strategy for your transfer in order to avoid any expected pitfalls and secure these currently high rates of exchange. I will remind buyers that the last time a negative trend was established on the Euro from highs above 1.40, they careered down to 1.33 – so there is certainly room for sudden negative movement.

I have never had an issue beating the rates of exchange offered elsewhere, and anyone looking to purchase Sterling should be seeing some more palatable rates appearing soon. Feel free to contact me as well to discuss the various options available to you to ride any movements in your favour between this afternoon and the close of play on Monday.



Black Friday on Pound Sterling Forecast (Daniel Wright)

Good morning and I hope you are all enjoy black Friday and manage to get yourself plenty of bargains.

Here at Pound Sterling Forecast our rates of exchange are so good all the time that we do not need to make any offers of discounts just to lure clients in, we keep our levels of exchange consistently fantastic so that our clients know they are getting a great deal every day of the year.

If you have a currency exchange to carry out involving buying or selling Sterling in the coming days, weeks or months and you want to see if you can get a better rate than your bank or any other brokerage is offering you then it is well worth getting in contact with us directly.

All you need to get in contact is to email me (Daniel Wright) on or to call me on 01494 787 478 and I will be more than happy to assist you personally.

UK Recovery Remains Firmly on Track! (Matthew Vassallo)

It’s been another positive week for Sterling exchange rates, with GBP/EUR spiking back towards the highs we saw in the summer. The Pound received a boost following investor concerns that the European Central Bank (ECB) is likely to increase its current Quantitative Easing (QE) programme in December. This news caused the EUR to weaken, which helped drive Sterling’s value up its current standing.

The good feeling was intensified yesterday following the latest Autumn Statement, where both UK Prime Minister David Cameron and Chancellor George Osborne were very bullish regarding the UK economic recovery. They felt we remained firmly on track for the growth targets they outlined and the UK remains the fastest growing economy inside the EU. This news helped to solidify the Pound’s position around the current levels and despite my feeling that we will not see the near 9 years highs of the summer breached, I do anticipate the Pound to find some protection around 1.40 in the short-term.

GBP/USD rates have remained fairly docile of late with the green-back threatening to make a decisive move under 1.50, only for GBP to find protection and move away from this key resistance level. It is now widely anticipated that the US FED will raise interest rates in December and I believe this has now been factored into the current exchange rates. We may see the USD gain further strength as and when this hike is confirmed but I don’t believe we will see a major spike, due to this reason. If for any reason we do not see a rate rise expect the USD to weaken against Sterling.

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

GBP/EUR and GBP/USD reverse the losses of yesterday thanks to strong UK spending review (Joshua Privett)

Yesterday’s losses, particularly on GBP/EUR and GBP/USD, were reversed this afternoon by George Osborne’s changes to his budget during the spending review. 

GBP/EUR fell by over a cent during yesterday’s trading with confidence in the UK economy falling following the dodging of hard questions about the UK’s inflation problems during hearings held by the UK’s treasury committee.

Political dodging gave way to political sensationalism today with Osborne speaking to Parliament about his continued objectives for the budget. While the speech has only just finished GBP/EUR is already back up to the mid 1.42’s and GBP/USD is on the sunny side of 1.51 for USD buyers. 

The speech dialed back from the pure focus on austerity over the past few years which showed greater confidence from the Government for the UK to continue on in its strong recovery relative to other countries. While cut-backs are still being announced, some areas such as the NHS will be receiving increased spending and tax credit cuts were now off the table all-together.

This shot-in the arm for those hoping to use Sterling as a purchasing currency is a welcome break following the strong moves in the favour of Euro or Dollar sellers yesterday. 

These gains will likely continue into the afternoon as North American markets open and trade on the news. We may even reach 1.43 for GBP/EUR by the end of the day’s trading, but it will be a stretch for 1.52 on GBP/USD.

Those with Euros to buy must remember that 1.43 has been reached twice in the past 2 weeks and rates have continually been pushed back from this mark. It is difficult for those GBP/EUR rates to be sustained as the demand for Euros rises dramatically in the commercial sector once buying rates become so cheap.

A popular option this afternoon for Euro and Dollar buyers have been ‘limit orders’. These allow you to secure your currency automatically at no additional cost, before any sharp snap-backs against your favour are expected.

I strongly recommend those with Euros or Dollars to buy should contact me on to discuss how to secure your target level automatically once it is achieved to maximise the value of the Sterling you hold. I have never had an issue beating the rates of exchange elsewhere, and by squeezing as much out of any positive movements you could save thousands on your transfer. 01494 787 478


GBP/EUR Autumn Statement could Cause Volatility. When should I move? (Daniel Johnson)

Today will see the release of the Autumn forecast statement. The HM Treasury will produce a statement to parliament upon publication of economic forecasts. It provides an update on economic outlook and gives an insight into the governments budget plans for the coming year. The Chancellor has indicated there will be some quite severe cuts in welfare and direct government expenses. If he strays to far from the expected budget expect a swing in GBP/EUR.

In Mark Carney’s testimony yesterday he stated there may be a drop in interest rates before a rise due to our low inflation currently at 0.1%, well below the 2% target. This does not bode well for Sterling.

With GBP/EUR currently sat above 1.42 very close to the 8yr high of 1.4407 I would seriously consider moving if I was a Euro buyer.

I am in a position to beat any rate of exchange from any competitor on nearly  all currency pairings. If you require a quote please do not hesitate to get in touch. I can be contacted on 01494 787 478 or .

Sterling weakness likely ahead, will you you need to make a GBP exchange in the coming months?

The likelihood of further GBP weakness is strong as it becomes less and less likely the Bank of England will be raising interest rates any time soon! The raising and lowering of interest rates is directly attributable to the strength and weakness of a currency. Most certainly in the case of sterling investors will be buying the currency in the hope of the interest rate going up in the future and the currency then being worth much more. Just like a higher interest rate at a bank will encourage investors to put money into that account, so will investors buy a currency if they see that central bank are planning to increase their interest rate since it makes it more likely that that the currency will be worth more in the future.

The pound’s strength is therefore very closely linked to the state of the UK economy and to attitudes to when the Bank of England is likely to raise interest rates. The upshot for anyone who is looking to buy or sell the pound is a a clear pathway as to the intent and expectations for the currency. The difficult part is predicting just how the economic data will turn out! On balance it seems the pound will remain strong but with the latest Inflation news making very clear the Bank will not be raising interest rates any time soon if you are holding on hoping sterling will just keep rising in value you might end up disappointed.

I strongly expect that the pound will lose value in the run up to Christmas as UK economic data shows us that the UK economy is not performing as well as many had expected. The dangerous thing that we cannot really plan for is what happens elsewhere! There is a strong likelihood that the Eurozone will revisit their QE programme and the US will raise their base interest rate. Expect this to cause further Euro weakness and some strengthening of the pound as investors move funds from the Euro to the pound. The key dates are 2nd December (ECB Meeting) and the 18th December (Fed decision).

If you are planning any currency exchange buying or selling the pound for the rest of 2015 or early 2016 making some careful plans now is a very good idea as there is a strong likelihood the rates on offer today will change for the reasons above. To receive updates or learn more about all of your options when transferring money overseas or back to the UK please email me Jonathan on, I am very sure I can offer some useful insight and an exchange rate that will save you money.

GBP/EUR and GBP/USD at net loss so far today from UK inflation hearings (Joshua Privett)

The event which has been delayed for two weeks and has been a worry for those looking to exchange their Sterling for an alternative currency is taking place as I type this article. GBP/EUR and GBP/USD rates have already moved in a downward trajectory over the first 15 minutes of the UK’s inflation report hearings held by the Treasury Committee.

However, not by as much as initially expected. The reason I have decided to type out my expectations now is that it is all too clear that these hearings are lacking any substance.

Recently Mark Carney, the Governor of the Bank of England, noted that the previous estimates of an interest rate hike in the UK economy for Spring 2016 were now likely to be postponed for a year – his reasoning was that the UK’s already record low inflation levels were expected to get worse before they got better. Sterling weakened heavily on the news with GBP/EUR dropping over 2 cents as an example.

These hearings were called to ascertian how the UK has got itself into this position and what can be done at this point. Yet they were delayed over two consecutive weeks, heightening market anticipation as to what poor news may be revealed from the hearings.

So far I have heard discussions of bank regulations and capital restrictions which, while important, have been beaten to death since the financial crisis and have little to do with combatting negative inflation.

They are avoiding the issue, likely because they have few answers. Inflation is a reflection of price change, and falling prices are a result of low oil prices and reduced demand overseas for our goods, which are difficult for the Bank of Engand itself to control.

Sterling is weakening at this lack of confidence in the Bank of England. But many, including myself, were expecting worse should the details and forecasts of how poor inflation could possibly reach were to be discussed in the open. GBP/EUR has moved down a full cent from the day high and low, and GBP/USD by half a cent.

North American markets will open soon and we will likely see similar falls on GBP/EUR and GBP/USD continuing into the afternoon.

Events today have softened the blow to Euro buyers who could not secure their currency yesterday when rates were above 1.42. 

If you have Euros or US Dollars to buy I strongly suggest contacting me on 01494 787 478 and asking the reception for Joshua to discuss how these current buying rates can be fixed to avoid future falls this afternoon. I have never had an issue beating the rates of exchange offered elsewhere and a comparison could save you thousands depending on the volume of your transfer.

Sterling exchange rates remain flat today – What is due out in the coming days that may impact the Pound (Daniel Wright)

The Pound has not really given us a huge amount to feed off of today however there are still a couple of important data releases due in the coming days that may impact your rate of exchange.

Tomorrow morning we have German growth figures which will no doubt impact the Euro in early trading and shortly after this we have a speech from the Governor of the RBA Glenn Stevens speaking over in Australia which is key for those with an interest in either buying or selling Australian Dollars.

Later in the afternoon we have a flurry of figures from the States which will keep tongues wagging about the interest rate hike and then after a fairly quiet morning for economic data on Wednesday we have lots more data from America including durable goods orders which are expected to show a slight improvement.

Personally I feel that this week we may remain fairly range bound against the Euro, we may lose a little ground against the Dollar if U.S data is good and I feel we may gain back a little of our recently lost ground against the Australian Dollar.

If you have a currency exchange to carry out in the next few days (or even in the coming weeks and months) then it will be well worth you getting in contact with me (Daniel Wright) directly.

I can help you both in terms of getting you a better exchange rate than you are able to achieve elsewhere along with helping you time when you buy the currency as this can make an even bigger difference.

All you would need to do to make an enquiry with me is to email with a brief description of what sum you are looking to exchange and the timescales you are working to and I will be more than happy to assist you.

Factors impacting GBP/EUR & GBP/USD exchange rates (Dayle Littlejohn)

In recent weeks Mario Draghi’s (President of the European Central Bank) dovish tone has been significantly weakening the Euro. Repeatedly he has indicated the quantitative easing program could be extended and increased in December.

Further to this Janet Yellen (Head of the Federal Reserve) comments last week suggest that the US could hike interest rates in December. However economic data will dictate whether or not this materializes.

It’s clear the market has already priced in the extension of the Q.E programme and also a US interest rate hike in December. For the reason there has been a mass sell off of Euros to buy Dollars to make profit.

In one month, the Dollar has made 4 cents against the Euro and the Pound has made over 8 cents!

Those looking to purchase Euros and Dollars with the Pound should seriously consider their positions and look to trade before the announcements. My reasoning for this GBP/EUR is close to the best buying levels since the start of the UK recession and if the ECB and FED don’t do what they say (very likely), we could see rates drop back into the 1.30s.

As for buying Dollars, I don’t believe the FED will hike in December. However I believe they will indicate further that a US hike will occur early in 2016 possible quarter one, and progressively cable exchange rates will tick down week by week.

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

A two-minute comparison could save you thousands!

Poor UK Retail Sales Halt the Pound’s Rise (Matthew Vassallo)

The Pound has trended on an upward curve against the EUR recently, with GBP/EUR levels creeping back towards the high’s we saw in the summer. This positive move was accentuated earlier this week following better than expected inflation data for the UK, which helped boost GBP/EUR levels up to 1.43. This was particularly poignant as low inflation has been one of primary concerns for the Bank of England (BoE) over recent months and although it is not at their target level of 2%, it is steadily improving.

The BoE have remained steadfast in their commitment to ensuring inflation levels reach their target level before they will commit to an interest rate hike. With this now looking unlikely for at least the next 12 months, the Pound will require other positive facets of the economy to drive it forward. Although we have seen a generally consistent run of positive data for the UK over recent months, we are not immune to further dips in our economic output. This was proved following the release of this morning’s UK Retail Sales figures, which came out worse than expected and halted the Pound’s rise in its tracks. I feel the EUR will continue to find support around 1.43 and we are unlikely to see the Pound break through the summer highs under current market conditions.

GBP/USD levels have remained fairly flat of late, with the Pound finding support around 1.52 on the exchange. However, I don’t see a major improvement for Sterling before the New Year, due to the likely December interest rate hike by the US Fed. This is now being factored into Cable exchange rates, so I wouldn’t anticipate a move under 1.50 if it does occur. If for any reason the Fed go against the grain and don’t hike rates, then expect GBP to gain value.

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

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