GBP EUR Looks to Employment Figures for Support

GBPEUR prices, buying euros, selling euros, currency prices (Steve Eakins)

Yesterday the Bank of England (BOE) kept both Interest Rates and Quantitative Easing (QE) unchanged. This was the last meeting under Mervyn King who has been with the BOE for over 27 years, 10 years at in the top chair. However in the last 10 years Sterling has dropped in value over 27% - Scary. The Monetary Policy Committee, (MPC) that makes decisions on change has been split recently over whether to increase QE, in last month’s meeting three members voted for an increase...
Pound to Dollar Rate Supported by UK GDP Data

Will worse UK data cause the pound to slide further?

UK data and the pound has been falling in the last few weeks which should really worry anyone who has a large sterling transaction to consider. Despite Unemployment unexpectedly falling, the pound is now at a worrying low level against a variety of currencies. Anyone buying Euros has been faced with the prospect of rates in the lower 1.30's compared to only 1.40 a few weeks ago. The expectation is largely for the pound to come under further pressure and to fall further as...
GBP EUR Looks to Employment Figures for Support

Sterling will not just keep on rising!

The market is now firmly expecting a strong Theresa May victory in the UK elections on June 8th. With investors betting this will lead to much less chance of any hard version of Brexit sterling is much stronger on all of this anticipated good news. Please excuse me for not being quite so positive but I do see some big risks ahead which could easily see the pound come unstuck down the line. Whilst clients holding sterling hoping for improvements are arguably in a...

Economic and Political uncertainty causes Pound exchange rates to fall (Tom Holian)

Sterling vs Euro and Sterling vs US Dollar rates fell towards the end of the week after two bouts of negative economic data. On Wednesday we saw a positive release in terms of unemployment at just 4.8% but at the same time UK average earnings showed a fall compared to the expectation and this caused the Pound to fall. Yesterday morning the Pound saw further losses against all major currencies when UK Retail Sales showed a massive drop for both month on month and year on...
Sterling Forecast: Pound rises as Theresa May enters her possible breakthrough day

Is sterling about to rally? (Dayle Littlejohn)

UK Prime Minister Theresa May is set to meet President of the EU council Donald Tusk in Gothenburg today to discuss the future relationship between the UK and EU. Reports are suggesting that the Prime Minister is willing to now offer close to €40bn in a bid for the EU to open the door  to trade negotiations. In addition David Davis will address the public in Berlin today and it may become public knowledge about the exact amount the UK have offered. Theresa May's government...

UK Growth Forecast revised Upwards (Tom Holian)

Sterling Euro exchange rates hit fresh two month highs today as the OECD raised the UK's growth forecast for the year from 0.8% to 1.5%. As momentum has carried on from he first part of the year this was sited as one of the key factors in the increase. The UK Construction sector also moved at its quickest pace in 6 years and manufacturing also continuing to pst strong figures. The PMI data for constructio in the UK was measured at 59.1 in August from...

European debt meetings latest and Sterling forecast – The week ahead

The table below shows the percentage movement of exchange rates on Friday along with the extra foreign currency you could have bought if buying with £200,000 catching your rate at the right moment. Currency % change over Friday Difference in £200,000 GBPEUR 0.68% €1540 GBPUSD 1.11% USD $3500 Ongoing European crisis, global uncertainty and what it means for your currency transfer EU Finance ministers met over the weekend and will be in discussion most of the week to finally try and come up with a resolution to a problem that appears to be spiraling out...
GBP USD Picks Itself Up Off the Floor

Greece Bailout – Terms Agreed – Euro to Strengthen? USD Forecast ( Andrew Bromley...

The Pound hit fresh 7 year highs against the Euro today, the day high being 1.3650. This comes despite the very real possibility that Greece will finally have succeeded in delaying its request to negotiate bailout terms. You'd have though this as positive news for the Eurozone as a whole, as a confirmed direction for the troublesome Greeks has been craved! Overnight progress is expected to be made with Mario Draghis announcement at 14:00 potentially giving an indication of an extension to bailout terms. Watch...
Pound Sterling Recovers Against Euro but Brexit Talks Expected to Limit GBP

GBP Forecast – Theresa May Wins Crucial Brexit Vote (Matthew Vassallo)

It’s been a positive day for Theresa May, following news that the government had won today’s crucial vote inside the House of Commons. Victory was achieved by a narrow margin of 319 to 303, meaning that the government did not need to add any clause into the Withdrawal Bill in the case of no Brexit deal being agreed. Despite this victory the market’s reaction was muted, with Sterling making only minimal gains against the US Dollar. MP’s were given assurances that they would have a meaningful say...

What has happened to the Swiss Franc? What does this mean for the future?...

Yesterday saw the largest movement for the Swiss Franc in its history as the Swiss National Bank decided to set a minimal level for the Franc against the Euro. Within ten minutes the CHF weakened by roughly 8% against everything as CHF was sold off rapidly by the SNB to get from 1.10 to 1.20 against the Euro, also against the Pound we saw similar movements as GBP-CHF went to 1.38 from 1.25! Lets see what has actually happened here and what effect this may have gonig forward...