Pound exchange rates up following positive Brexit news

Busy Day on the markets – Have you protected your rate?

Today we have the Bank of England (BoE) and European Central Bank (ECB) interest rate decisions. The BoE decision is at 12.00, and the ECB is 12.45. Possible outcomes: The BoE may announce further Quantitative Easing (QE) for the UK, although this is not wholly expected. Nevertheless the pound has lost recent gains against the Euro, with trading levels creeping back into the 1.19’s.. More QE will likely cause a move towards the 1.17-1.18 range. The ECB may cut rates by 0.25% to 0.75%, but this is again not wholly expected. I would expect...

The gamble is doing nothing…

Morning Readers, Further to my post yesterday, here is some data on GBPEUR which shows just how quickly rates can change. As discussed I feel there is room for a bit more euro weakness, but that we would not go higher than 1.25 (if we even break 1.22). As you can see from the information below, history dictates that rates could fall back significantly and quickly… November 2008 rate 1.21 1 month later GBP fell 15.7% to 1.02 June 2010 rate 1.2251 1month later GBP fell 4.3% to 1.1721 August 2010...
Sterling fails to make any inroads against the Euro despite positive UK services data

Should I buy euros now? How can I protect the gains I have seen?

With trading levels close to the best they have been in 16 months, there are numerous reasons to buy euros. Many clients who have been bravely holding out for a 1.20 trading level have been quick to capitalise, but there are others who believe things will improve further. In my role as a currency specialist for one of the UK's largest currency brokers I am continuously asked what will happen on exchange rates and this is the favourite topic right now. Anyone with a close...

1.20 on the markets! Buying Euros – Looking to trade at 1.20+ ?? Speak...

1.20 on the markets! It feels good to be saying that on the trading floor today.. Well against many expetcations the euro has weakened again. GBPEUR has broken the 1.20 barrier and this is presenting a great opportunity for savvy clients. With trading levels above 1.20 on a large majority of recent trades we have some very happy clients today! Are you looking to trade at 1.20 buying Euros? Have you a project in Europe long put off due to the terrible rates on offer in recent...
GBP/EUR exchange rates creep up over the course of the trading week

GBPEUR Forecast – What will happen on GBPEUR in 2012?

The end of 2011 saw the return of some of the most favourable GBPEUR rates seen in years. Trading levels approaching and above 1.20 represent a goal for many clients and these levels were hit in December, the highest the rate had been in nearly a year. So will this continue in 2012? Well on a balance of probabilities I feel not. This is because the reason for the recent improvements are more to do with euro weakness as opposed to sterling strength. When looking...
GBPEUR Forecast : How will GBPEUR levels react to the Brexit vote?

GBPEUR Forecast – Should I sell Euros now?

This is a question i am being asked almost daily by clients. GBPEUR has moved massively against all those people looking to sell Euros in the current climate and most are not hanging around. Should I sell Euros now? I personally see it going only one way at present and that is against you. It is not just the Euro crisis causing this. The ECB (European Central Bank) cut their interest rate by 0.25% last week. This is the second rate cut in two months and...
GBPEUR rate remains steady as markets await the Autumn Budget

Crucial couple of days for anyone looking to make a currency exchange

With the global economy at practically standstill, I believe European events in the next few days will be key to shaping the short and medium term movements of exchange rates not just on the Euro, but also the Pound, the Dollar and all majors. Two key decisions today could more specifically also help move GBPEUR, GBPUSD and EURUSD. An exceptionally volatile few months have cooled slightly this week, but I feel things could be pushed one way or another depending on the outcome of the European summits. If you...
GBPEUR rate remains steady as markets await the Autumn Budget

Will the Euro weaken? Important Events on the Euro Rate this week

With the official estimate out at 10.00 am this morning for Eurozone GDP (Gross Domestic Product) expectations are that the economy supporting the Euro grew at 0.2% in Q3 of this year. With the rate of growth shrinking this year there are fears that the countries in the Euro could be heading into recession. This release is likely to have an effect on the Euro so if you have any short term requirements do be aware of this release. To be kept up to...
GBPCHF rates hit near 3-month highs

Is this time to look at selling Euros? Will the Euro survive? Shall I...

Yet another week goes by and once again Euro news has been in the headlines… Yes for sure there is just so much trouble within Europe and without a doubt 2012 will see some changes that have never been seen before but I cannot see that even if there is a decision to dissolve the Euro it will be done at a great pace.   When a country has moved to join the Euro in the past, it takes months and years for the powers that be to track exchange rates...
GBPEUR rate remains steady as markets await the Autumn Budget

Excellent GBPEUR rates – POUND EURO Forecast

The budget statement yesterday was pretty gloomy. With growth forecasts being revised down it looks like the UK is set for continued problems, this is highlighted quite substantially by the strikes today. Over 2m Public Sector workers will go on strike at protests against pension reforms as well as a wider protest at the lack of growth and low prospects for the future. Amidst the doom and the gloom the pound made some impressive gains yesterday. Against the Euro we climbed close to the 9...