Sterling continues to climb against the Euro pre election – the race hots up

The Pound has continued its positive trend against the Euro during the start of the weeks trading this is mainly due to the underlying cracks now appearing fully in Europe,  reasonably positive manufacturing data coming out from the U.K yesterday and people shifting funds in preparation for the election.

I am hoping it will be onwards and upwards following tommorows election however anything can happen….. If you have a transfer to make then it is imperative you keep in close contact with someone who has an eye on the market and carries knowledge of the best way to go about it.

Feel free to get in touch with me personally and I will be happy to explain the various options available to you inclusive of forward contracts, stop and limit orders.

What will happen to the Pound with the election looming, will the Greece problem affect Sterling?

The Pound faces a tough week ahead now with the election geting ever closer and things really hotting up.

Investors are clearly due to be wary regarding this factor and speculators may well start to gamble heavily on the outcome over the course of next week. This may lead to some extremely volatile markets and in turn some fantastic buying and selling opportunities for those with transactions to carry out.

Should you wish to be kept informed of any movements in your favour or against you then do feel free to get in touch by either emailing me directly on djw@currencies.co.uk or filling in the enquiry form on the right hand side of this page.

The situation in Greece is also a major player at present… Although people may think it will only affect the strength of the Euro it could also have a knock on effect on the Pound as investor confidence slips away.

Once a package is in place for Greece one would imagine that you may see minor gains for the Euro as confidence rises slightly again over there.

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 contact form and I will be in touch with you shortly.

Sterling exchange rates hold firm

GBPEUR rate remains steady as markets await the Autumn Budget

The pound has suffered as the Greek crisis continues.  Fears have surfaced for some investors that if the problems spreads through Europe, it could damage the UK’s financial sector. Some are even concerned that we could see a down grade of the UK’s credit rating.  Although we are in very different circumstances to Greece (our debt is lower as a total of GDP and financed on a longer term), we have heard speculation in the past that the UK could be down graded.

In my opinion a downgrade is unlikely and improving economic performance should prevent the UK from slipping back toward credit rating problems. From an exchange rate point of view all the speculation is causing market volatility with GBP EUR having moved 0.76% form the hi to low already today.

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 contact form and I will be in touch with you shortly.

Pound Sterling Euro – What will happen?

Nobody knows for sure precisely what is going to happen in the coming weeks with the election looming, credit rating downgrades and serious economic problems in the Euro zone and Greece potentially due to be joined by a host of other economies in the Euro Zone announcing all isn’t too rosy.

I personally think that the Pound will slowly climb in the coming weeks against the Euro as there are just too many problems for them as a whole now and the U.K may be (all be it pretty slowly) coming out of our troubles.

As the Pound only has the British economy to move off of and the Euro has so many different economies to factor in Personally I think this will eventually hinder the Euro and cause some big arguments going forward.

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 contact form and I will be in touch with you shortly.

Volcano and grounded planes – will they affect the Pound?

GBPEUR rate remains steady as markets await the Autumn Budget

Grounded planes and stranded Brits – We wanted cash not ash from Iceland!

Without doubt the biggest story in the news over the past few days has been the grounded planes in Europe and the amount of Brits stranded and businesses struggling off the back of it.

It is clearly going to take quite some time to sort this mess out, and there must be a huge amount of businesses that have suffered greatly let alone the aircraft companies that are losing millions on a daily basis. This in my opinion is now big news – much bigger than the media is allowing it to be.

In a day of people keeping minimal stock many places will be reliant on stock being flown in to continue with their daily work and these hold ups and back logs in my opinion will lead to the Pound suffering even more.

Data is sure to be affected for the month of April in a negative fashion and this coupled with the potential hung parliament lead me to think the Pound has a seriously rocky few weeks ahead against most major currencies.

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 contact form and I will be in touch with you shortly.

Sterling gains in morning trading following higher than expected inflationary data

The Pound made reasonable gains folowing the release of key inflationary data this morning which actually came out higher than expected.

The main way to curb high inflation is to raise interest rates and an interest rate hike is generally seen as positive for the currency concerned.

Although I don’t see an interest rate hike in the near future it does leave scope for one going forward therefore has led to Sterling strength.

Over the course of the rest of the afternoon the Pound has slipped back however as the grounded plane saga continues.

I personally feel this whole matter has been majorly damaging to the U.K economy and there will be more to come from this which in turn may be damaging for the Pound.

Apparently things are due to get back to normal shortly but there is one hell of a backlog to clear and a lot on money has been lost.

Those with CAD interest may wish to be wary as they have suggested rate hikes in the near future and that their economy has recovered at a rapid pace, at the time of writing this GBP/CAD had dropped by 1.38%

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 contact form and I will be in touch with you shortly.

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