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Our award winning site is not only a great source of information but we can save you money and make your life easier too! Contact us today! (Daniel Wright)

By
Daniel Wright
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Just to make you aware we have now had over 5000 people contact us through the site and so far we have managed to get better rates of exchange and win business from numerous companies, if you are using one of the following it may be worth you getting in touch for a direct comparison:

Moneycorp, HIFX, World First, Smart Currency, UK Forex, Oz Forex, Foremost Currency, Foreign Currency Exchange, Currency Index, Currencies Direct, XE.com, Transferz, NZ Forex, Halo, Afex, Tor FX and Hargreaves Lansdowne.

Not to mention Barclays, Lloyds, Natwest, HSBC, Yorkshire Bank, Clydesdale Bank, RBS, Halifax, Nationwide and pretty much all major banks.

We don’t only pride ourselves on a great exchange rate but also a really high level of service too, which you may find you are not getting to a high enough standard at present.

If you are using an online trading platform then make sure you get straight in touch, with an online platform you do not have someone negotiating on your behalf therefore generally do not receive the best rate of exchange you can.

We deal with bank to bank transfers ranging from one thousand Pounds to multi million Pound transactions for both private clients and corporate clients… We have a regular payments facility too which is free and can assist anyone with smaller payments to Europe.

The company we work for is FCA registered and Authorised as a payments institute and all funds are kept in client transaction accounts to give you peace of mind your funds are safe and secure, we have won awards both for our exchange rates and customer service and have now 50,000 clients under our wing. Anyone that contacts us through this site will deal with one of the authors, if there is an author you find particularly informative you can use them directly.

I have to say I am really proud as to how much this site has picked up over the past three years and it is thanks to my regular readers that it is as popular as it is today – Let me return the favour with exceptional exchange rates.

If you feel we could be of assistance to you as well, feel free to get in contact with me directly by emailing me [email protected] or you can indeed fill in the enquiry form on this page and one of us will call you back.

You can also join our mailing list on this page too.

We look forward to speaking with you!

Best Exchange Rates – GBP EUR USD CAD ZAR

By
Daniel Wright
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GBP USD Exchange Rate Slides after GDP Data Shows British Economy Shrank in June 

This week holds fewer data set announcements than usual, however US and UK reports could add volatility.

Following last weeks strong retail sales figures, boosted by the seasonal good weather, the UK is riding the crest of a wave. This has seen GBP strengthen to 1.17s against the Euro and 1.56s against USD. These current figures are at the top of the current ‘trading range’, which has seen GBP-EUR between 1.14 to 1.18 and GBP-USD 1.484 – 1.564.

 

Wednesday has FOMC ‘Federal Open Market Comittee’ minutes, and there is a strong possibility that we will see USD make some ground back against GBP. The US Federal Reserve has long been announcing that it will ‘taper’ or reduce the level of Quantitative Easing (money stimulus) and if there are any indications from the minutes that the ‘tapering’ is about to start, this will go hand in hand with USD strength.

UK GDP revision is due on Friday, and takes in to account any amendments to previous data sets and the affect these amendments have on previous GDP figures. Should we see any positive increases, we may see associated Sterling strength to make Friday afternoon a busy trading session. I however don’t believe that we will see a major change in the hisotic GDP figures, and that those buying a currency with Sterling would be wise to consider their position before the FOMC minutes on Wednesday.

GBP-ZAR is on the rampage at the moment and like the middle of last month, shows no sign of slowing. At the peak last month, GBP touched 16 and I believe that we may get to this point again. I believe that 16 (or very close to ) will be the mark of resistance, and trading levels close to this should be taken advantage of.

GBP CAD had again moved in to the 1.61s and is at a two year high. These are testing time for Canada as their new head of the Canadian Economy will try and keep things positive. CAD is closely linked with USD as it is a major supplier to their economy. We may see CAD strength if the US FOMC minutes are good, so CAD buyers may be wise to buy before.

Should you have a currency requirement, big or small, please feel free to drop me a line to discuss. We are able to offer a personal service, tailored to your specifications to maximise your exchange. Please either call 01494 787 478 or email me directly [email protected]

Andrew Bromley

Bank of England, ECB and Pound vs Euro rates (Tom Holian)

By
Tom Holian
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Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

The Bank of England Governor Mark Carney has spoken out about the latest Financial Stability Report and suggested that British banks will have to find over £11bn in the next year and a half in order to protect themselves against loans potentially being defaulted upon.

The Financial Policy Committee has also said that at current levels the risk is low but if things change in the future then banks will need to act now in order to be prepared.

Indeed, banks have started to loan to those with lower credit ratings and this is becoming a concern.

Credit card debt as well as car loans have been increasing in popularity and with the rates much higher if interest rates go up at some point in the future then borrowing costs will rise meaning that the debt is harder to pay off.

Owing to the news today this has caused the Pound to fall vs the Euro, US Dollar and all other major currencies but overall the real problems for Sterling exchange rates are being caused by the uncertainty both in UK government as well as the Brexit negotiations.

We are one year on from Brexit and one week in to the talks and as yet they have not been going that well.

The other negative movement for Sterling against the Euro has been caused by the suggestion that European Central Bank president Mario Draghi may be looking to reduce the stimulus that is currently taking place every month in Europe.

The comments by Draghi have helped to strengthen the Euro and we are now close to the best level to buy Pounds with Euros since November 2016 making it an excellent time to be looking at converting your Euros into Sterling.

If there is a currency pair that you would like more information on then please ask and if you would like further information or a free quote when buying or selling currency then contact me directly and I look forward to hearing from you.

Tom Holian [email protected]

 

 

Pound Sterling exchange rates creep up following solid manufacturing figures (Daniel Wright)

By
Daniel Wright
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GBP USD Exchange Rate Falls Amid Murky Economic Backdrop

The Pound had a good morning against most major currencies following slightly better than expected Manufacturing data released by the U.K.

Expectations had been for a minor drop in PMI Manufacturing data but we actually saw a small increase which in turn gave Sterling a small boost.

We also saw European unemployment figures show a minor improvement at 11.6% instead of the projected 11.7% which potentially held back further gains against the Euro (although this is still not great).

Tomorrow morning we will see growth figures for Europe as a whole so that is the next big Euro based data release to look out for. Most heads however will be turned towards the ECB (European Central Bank) interest rate decision and press conference released on Thursday at 12:45pm and 13:30pm respectively.

For anyone with an interest outside the Euro beware that Non Farm Payroll data in the States is also released on Thursday at 13:30pm (A day earlier due to independence day).

Non-Farm Payroll data is essentially the number of people in Non-agricultural employment over in the States and is a key indication as to how their economy is performing.

This release can cause quite a lot of volatility because predictions are made in advance and these can be wildly out. The market moves on rumours and predictions as well as fact, and should the figure come out quite a way from initial predictions the market does correct itself rather swiftly.The reason this effects the AUD, NZD and ZAR and pretty much most majors is because as I am sure you can imagine it will affect attitude to risk and will lead to rapid movements of large amounts of money globally.

If you have an upcoming transfer to carry out and want to get the best exchange rates along with great customer service and knowledge of the markets then email me directly on [email protected]  I welcome all enquiries for bank to bank transfers however i’m afraid I cannot help with cash transactions or speculation.

 

Will the Pound fall further due to recession fears?

By
Joe Wright
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GBPEUR Looks Vulnerable but Data Will Decide

Despite trading within a thin range against the Euro last week, the Pound experienced a pretty significant drop against the US Dollar as the week progressed, making the cost of buying US Dollars with Pounds a lot more expensive.

Sterling saw a fall of 3% over the week’s trading, and this was the biggest drop for the Pound against the US Dollar since late September. At the end of September the former Chancellor of the Exchequer gave the disastrous mini-budget which saw the rate of cable GBP/USD) drop below 1.10 and some financial commentators believe the rate could drop below this level once again in the not too distant future.

Last weeks drop comes at a time when both the Bank of England, and the US Federal Reserve Bank both opted to hike interest rates by 75 basis points.

The base rate of interest in the UK is now 3% and the decision to hike by 0.75 percentage points was the biggest hike in 33 years.

Normally, aggressive interest hikes could see the underlying currency strengthen as the currency becomes more attractive to hold funds in. This doesn’t appear to be the case this time and much of the reason behind this was the wording used by Bank of England members in recent interviews.

Due to the UK expected to enter a recession, some predicting the longest recession on record, the Bank of England has signalled that it won’t be hiking interest rates as much as some economic analysts are expecting.

The choice of words used by members of the BoE and the forward guidance offered could be key for the Pound’s value moving forward, against all major currency pairs so it’s worth looking out for these speeches if you’re interested in the Pound’s value moving forward.

If you wish to discuss an upcoming currency exchange with us you can contact me (Joe) on [email protected] directly. I will be happy to offer you a quote and explain how our service may help you save money when making currency exchanges. We also offer rate alerts to help keep you informed regarding price fluctuations.

Will there be a delay in the triggering of Article 50? And how will it effect Sterling? (Daniel Johnson)

By
Daniel Johnson
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GBP EUR Exchange Rate: The Week Ahead August 15th

Could the triggering of Article 50 be pushed back into April?

The Exit bill has now the left the House of Commons and now sits with the House of Lords. Initially it looked likely the PM would not have too much resistance invoking Article 50. However, now it seems it may not be as straight forward as expected with the House of Lords possibly seeking amendments.

There will be a two day period beginning on 20th March, the key topics of debate I would expect to be the following:

  • A  guarantee that Parliament will be given the opportunity to vote on the Theresa May’s final deal
  • Updates to parliament on the progress of trade negotiations . (a minimum of one every three months.)
  • A guarantee that the rights of three million EU citizens in the UK will be protected following Brexit.

Any amendments could well cause a delay in the triggering of Article 50 which could well weaken the Pound.

Personally I feel if you are selling Sterling it may be wise to hang fire unless you have to move short-medium term. Sterling is currently undervalued against he majority of major currencies. Even the US dollar is in danger of dropping against Sterling as Trump has stated that the high value of the Dollar will hurt exports. Despite, the Federal Reserve stating that their could be as many as three rate hikes this year, Trump has a point and this could delay any hikes in the US.

 

When should I buy Sterling?

If you are selling USD, AUD and particularly EUR I would take advantage of current levels. Many will be thinking of hanging on for improvements, there may well be the opportunity for Sterling weakness short term, but I would not procrastinate for small gains.

Selling the Pound short term? When should I move?

If you do have to move short term, you will need to be in touch with an experienced broker. If you would like my assistance I will be happy to help.  You really will need expert help if you wish to maximise your trade if you have a small time frame. A Limit and Stop/Loss order may well be the contracts of choice.

UK Inflation – Well worth keeping an eye on.

UK inflation data came in today lower than expected. This is worrying as many economists are predicting a sharp rise due to the weak pound and it seems this is yet to filter through. With imports now being considerably more expensive it seems as though it is only a matter of time before price increases filter through to consumers. Let us hope there is not a significant increase as wages will certainly not be able to keep up, which could mean trouble for the UK economy.

If you would like my no obligation assistance feel free to contact me at [email protected]. Thank you for reading and I look forward to hearing from you.

Daniel Johnson

Foreign Currency Direct

Why trading online generally does not get you the best deal… For the sake of a free phone call you could save hundreds if not thousands!!

By
Daniel Wright
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I have had an increased number of people get in touch with me through the site lately who currently buy their currency online through their existing broker, and whilst it is fairly straight forward and easy to do you must beware that it usually means you are paying a lot more than you should be for your currency.

In my experience, companies with online platforms tends to slowly stretch out their clients margins over time, so slowly that the client may not realise however if they do and call in to question the rates they are being offered then an IT error is usually blamed and rates are set back to their original tightness for a few months.

Along with this, when buying online you do not have anyone putting any work into the rate for you, therefore they cannot be getting you the best they can, here we actually put work into rates for our clients whether they are trading £1000 or £10,000,000 we treat every deal the same as a large amount of money to one person might be completely different to a large amount of money to another.

Simplicity is key too, you only need to provide onward payment details once to us too, we scan the details and keep them on file so quite simply one two minute phone call and your rate is booked, all you then need to do is organise sending us the money.

If you are currently using an online trading platform and want to check if you can get better rates, email me with your requirement and telephone number, I will aim to call you within 30 minutes (within U.K office hours 8am-6pm) so that you can compare and see jsut how much I can save you on each and every transaction you carry out. You can contact me by emailing [email protected]

Will Liz Truss lead the Tories into the next election and how will this impact the Pound?

By
Joe Wright
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GBP USD Exchange Rate Falls to Two-Year Low Amid Political Uncertainty 

Despite being appointed as Prime Minister just over a month ago on the 6th of September 2022, Liz Truss is already coming under pressure and there is speculation regarding her remaining in power already.

The Pound has traded in a more speculative fashion over the past month than it has done for years after a disastrous mini budget which sent shockwaves throughout financial markets, and saw the Pound trade against the lowest level against the US Dollar in recent history.

Truss appointed Kwasi Kwarteng as Chancellor in an ill fated move and he has already been replaced by Jeremy Hunt who has chosen to reverse almost all the tax breaks declared by Kwarteng. The Pound climbed off the back of his announcements and demonstrates the disarray the current government is in, and now Truss is coming under increasing pressure.

In the wake of new Chancellor Jeremy Hunts announcements, Liz Truss apologised for the mistakes that have been made so far.

She also made it clear that she’s not willing to give up and declared that she will lead the Tories into the next election and highlighted that by appointing a new Chancellor, she has restored economic stability.

Moving forward I think there could be further volatility for the Pound relating to speculation regarding the job security of the current PM, especially due to the Tories trailing Labour in the voting intention polls which increases the pressure on the PM. Political instability often has a negative impact on the underlying currency, so if you’re interested in the Pound’s value this is a key topic in my opinion.

Economic data releases today are light so politics will continue to drive the Pounds value today. GBP/EUR has dropped off this morning and lost over 1.5cents since the announcements from Hunt yesterday.

Inflation data will be released early tomorrow morning, so if you wish to plan a transfer around this economic release, please feel free to get in touch. As a currency specialist we have access to a number of different trading options and very competitive exchange rates.

You can contact me directly on [email protected] if you wish to discuss any of today’s topics in further details, and you can also set up rate alerts using our trading systems.

GBPEUR Inflation summary – Buying Euros – Selling Euros – STEVE EAKINS

By
Daniel Wright
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Yesterday we had what was scheduled to be the busiest day of the month for the Pound.  However it was hugely over shadowed by the Interest Rate cut in Europe last week. We did however see quite a change in the fortunes in the Pound yesterday following the release of UK Unemployment and the Quarterly Inflation Report.  This is when the bank of England gives an update on the UK economic performance and forecasts along with views on when potential change to policy will happen.  Focus is very much on the expected date when Interest Rates in the UK will start to climb.
The summary from yesterdays activity include:
  • Upbeat Bank of England as they increase growth forecast for 2013 to 1.6%, 2.6% for 2014.
  • Record numbers now in work as unemployment rate falls to four-year low
  • Interest rates to potentiallly change as soon as the end of 2014.
  • 1.4million are in part-time work but want a full-time job, ONS says
  • David Cameron says figures are proof government’s plan is working

As a result of the above rates have climbed for the UK by nearly a cent against a basket of currencies. A welcome boost for GBPUSD transfers as on Wednesday this had reached a near 2 month LOW. GBPEUR rates are now within a cent of the highest seen in 10 months and remain well over the year average of 1.17.

This however is not the end of the data for this week. Later today we have UK Retail figures and on Friday European Data, both of which could change makes once again.  My view/ I expect GBPEUR rates to climb a little further before the weeks end and finish closer to 1.20 again.  This I expect to be the highest and therefore the most attractive time to buy the single currency for the remainder of the month.  Euro sellers may want to hold their nerve and wait for better levels next week….

If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – STEVE EAKINS – via the telephone number at the top of the page or via email at [email protected]

Will sterling keep up this current trajectory?

By
Jonathan Watson
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GBP EUR Exchange Rate: Weekly Review July 16  

Tomorrow is UK Retail Sales and Friday is the latest UK GDP (Gross Domestic Product) data. Both of these releases could easily spark volatility in the market underlining the importance of keeping up to date with the market. In the last few weeks sterling exchange rates have crept up notably against the Euro but we are at multi year highs against pretty much everything! Can sterling keep on this trajectory?

Well early indications seem to think so with recent poor borrowing economic data being ignored in anticipation of an interest rate at hike at some point in the future. As is so often the case with exchange rate it isn’t just which currency is the best, it is that others are very unpopular! Take the Euro for example, we may still see some QE (Quantitative Easing) in the future. This form of ‘printing money’ is very bad for the currency as by increasing the money supply it effectively dilutes the strength of the currency. The UK used QE many years ago and this is one of the reasons the pound dipped to almost parity with the Euro, imagine the detrimental effect QE in the Eurozone would have on GBPEUR rates!

If you have any need to buy large volumes of foreign exchange getting the best exchange rate is central to making the most of your money. The authors of this blog and I are extremely confident we can undercut other sources like banks and other currency brokers on exchange rates, plus also offer practical assistance in the timing and management of your payments. For a quick rundown of your situation and a comparison why not make contact? We can then have a quick chat at no cost or obligation and you can decide for yourself what is better! After all if you were entirely happy with your current situation you probably wouldn’t have read this far!

Jonathan Watson, [email protected]

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