Sterling weakness again today – GBP drops further against EUR USD AUD CAD ZAR CHF

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30th September 2010

GBP EUR Exchange Rate: Weekly Review July 16

The Pound has once again lost ground against the majority of major currencies in trading today, which once again is terrible news for those seeking to make a money transfer from Sterling to another currency in the near future, however great news for those looking to bring money back.

How long this trend will continue is a hard one to guess, as earlier comments from MPC member Posen in the week still appear to be taking their toll on the value of the Pound and personally I believe the value of Sterling will weigh heavily on whether or not we see further comments from the Bank of England in the coming days and weeks.

I also feel that the many problems seemingly swept under the carpet in the Euro Zone may come back to light as they have are effectively a large boil that continues to be covered up and eventually one day they will come back and burst.

If you are buying a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.

Sterling euro outlook

By

Daniel Wright

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30th September 2010

Sterling has made gains following loses yesterday against the Euro. House price data from the UK came out better than expected (showing a small rise in the cost of property). Sterling gains been halted however, by good unemployment figures from Germany. The data showedlower levels of unemployment which is obviously good news for the German economy, the backbone of Europe. I believe the pound is unlikely to make considerable gains over the euro in the short term as there is significant uncertainty surrounding sterling at the moment. With government cuts coming up and a high chance of further quantitative easing, sterling is a risky bet for currency speculators and therefore many are staying away from the pound which reduces demand and subsequently the price.

Euro weakness is something that could help GBPEUR rates, considering sterling strength looks unlikely! News from Ireland that AIB (the bank) may need up to €34bn in further bailout money (worst case scenario) has had a negative effect on the euro today. However, pound is only about half a cent higher than yesterday, even taking into account this news and the fact that we’ve had the positive UK house price release.

Buying a property abroad? Want to ensure you do not get caught out by exchange rate movements??

By

Daniel Wright

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29th September 2010

The last week or so has been extremely volatile for U.K data releases and indeed for the Pound with rates dropping away by around 4% against the Euro yet gaining around 2.5% against the U.S Dollar.

These sort of movements just go to prove that the currency exchange sector of your property purchase is as important as the negotiations on price…. Just what is the point in managing to negotiate an extra 1% off of an asking price for a fantastic holiday home when within a week it may cost you 2% more to purchase the currency for the property.

There is a tool that can help you to combat this, known as a forward contract, it enables you to lock into an exchange rate for anything up to two years in advance, merely having to forward across a small deposit within two working days and the balance either on or before the date agreed.

By locking into the forward contract you guarantee there will be no nasty surprises around the corner with an interesting period forthcoming for the U.K and budget cuts looming.

I am always more than happy to keep all readers of www.poundsterlingofrecast.com completely up to date with what is happening on the markets and what may happen in the near future and although I cannot advise, I can certainly give my personal opinion based on years of market knowledge.

Alternative to Nationwide to get Euros, Dollars and any major currency now they are due to charge to withdraw abroad

By

Daniel Wright

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29th September 2010

A number of my clients and indeed new clients are geting in touch as it has come to my attention that Nationwide, who have previously been an excellent source to get currency whilst abroad are now due to charge to withdraw funds whilst overseas.

There is a great alternative to this if you have an account set up to receive a foreign currency transfer then we can help.

I work for a specialist foreign exchange brokerage and we pride ourselves of achieving better rates than the high street banks whilst offering the very highest levels of customer service too.

All you need to do in order to merely make an enquiry is fill in the form on the right hand side of this page and I will personally get in touch to discuss the options available to you.

I can assist with anything from £10 – £10 Million and upwards and treat every single client transaction exactly the same, I regret we do not deal in cash transfers so cannot help with holiday money, however if you have a bank account to send money to then I will be more than happy to help.

Dan

Sterling drops as Bank Of England MPC member Posen comments on QE Sterling weakness

By

Daniel Wright

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28th September 2010

The Pound took an almost instant hit against every major currency following Posen’s comments:

“CPI could fall well below target without stimulus. A 1990s-Japan style scenario is possible.

If QE does not work, more fiscal stimulus and purchases of corporate debt should be considered.Posen wants central banks to coordinate QE policies.”

It appears the MPC is even more split that the Fed. Sentance would like to raise rates, Posen wants to print pounds and rapidly.

If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.

Sterling remains stable GDP figures released as expected – Pound Sterling Forecast exchange rate update

By

Daniel Wright

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28th September 2010

The Pound made a sharp increase following the the release of GDP figures for the U.K this morning however this merely lasted a matter of minutes before it came back down to levels seen pre decision.

It should however bring a little bit of confidence to investors in general as it does keep the U.K a little further away from a double dip recession which is better news, a much lower figure could of led to major Sterling weakness so those of you with currency to buy in the near future can sit contently for another day, however as i’m sure you are aware, rates do move rapidly and anything can happen, you are in the best position to maximise your purchase if you have a dedicated broker keeping a close eye on things for you.

I can do this along with geting you fantastic rates of exchange compared to the high street banks, potentially saving you thousands of Pounds. To make an enquiry just feel free to fill in the contact form on the right hand side of this page and I will get back to you shortly.

U.K GDP figures released tomorrow – Sterling exchange rates set to be volatile

By

Daniel Wright

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27th September 2010

Today appears to be very light on the ground data wise for the U.K and Indeed the Pound, however I will be extremely surprised to see a quiet market this time tomorrow.

The U.K release GDP figures for quarter 2 and expected is a growth figure of 1.2%.

GDP (Gross Domestic Product data) effectively shows just how much an economy has grown or shrunk during the specific period, growth is clearly seen as positive for the U.K and contraction seen as negative, and with the mention of a double dip recession being banded around, a figure lower than expected may lead to major Sterling weakness.

The U.S of late have been talking about a potential double dip and a common saying on the currency markets is that when the U.S sneezes the U.K catches a cold so although we are yet to see major evidence of any double dip in the U.K it could be the fact that this may be just around the corner.

Personally, I see no major panic tomorrow as I think we are still a few months away from really seeing the negatives creep back in however anything can happen so if you do have something you need to trade in the near future it is well worth having either a limit or stop loss order in to protect you from market fluctuations.

Should you wish to know how these tools work then fill in the contact form on the right hand side of this page and I will get in touch to give you a simple explanation of the process and how to go about it.

Pound Sterling makes minor bounce back following yesterday’s weakness – Mortgage approvals data may turn this around..

By

Daniel Wright

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23rd September 2010

The Pound has had a better start to the day today making minor gains against the majority of major currencies, we do however have mortgage approvals data due out for the U.K at 09:30am – this is slightly different to the release seen on Monday as it is released by the BBA (British Bankers Association).

Monday’s data however was particuarly poor and it would not surprise me to see this one follow suit and the early morning gains to be wiped out.

If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.

The Pound Sterling Exchange Rates due to be Volatile with Bank Of England minutes approaching

By

Daniel Wright

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22nd September 2010

The Pound will face an extremely interesting day on the markets this morning with the Bank of England minutes being released at 09:30am

Generally the BOE (Bank of England) and in particular Mervyn King tend not to do much for investor confidence when they make such releases and from my experience in the past few years Mr King in particular tends to talk the Pound down.

The main focus will be on two factors – firstly whether or not any more menbers of the BOE voted in favour of a rate hike at the previous meeting, and secondly what the stance is going to be on further QE.

A mention of further QE and higher chances of it coming into play could lead to major Sterling weakness, on the other side a more positive spin may have the opposite effect.

If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.

Pound loses further value against a basket of major currencies as net borrowing higher than expected

By

Daniel Wright

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21st September 2010

A brief update for you that the Pound is against the majority of major currencies following worse than expected Net borrowing figures (explained in my previous post). The figure came in at over £15B even though expected was £12.2B

The only currency we appear to be gaining on is the NZD (New Zealand Dollar) with a small gain of 0.2% so far.

If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.

Predictions

Sterling weakness again today – GBP drops further against EUR USD AUD CAD ZAR CHF

Sterling euro outlook

Buying a property abroad? Want to ensure you do not get caught out by exchange rate movements??

Alternative to Nationwide to get Euros, Dollars and any major currency now they are due to charge to withdraw abroad

Sterling drops as Bank Of England MPC member Posen comments on QE Sterling weakness

Sterling remains stable GDP figures released as expected – Pound Sterling Forecast exchange rate update

U.K GDP figures released tomorrow – Sterling exchange rates set to be volatile

Pound Sterling makes minor bounce back following yesterday’s weakness – Mortgage approvals data may turn this around..

The Pound Sterling Exchange Rates due to be Volatile with Bank Of England minutes approaching

Pound loses further value against a basket of major currencies as net borrowing higher than expected

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