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GBP/EUR rates completely flat ahead of UK GDP data to be released tomorrow (Joshua Privett)

GBP/EUR rates of exchange rates have ended the day with only a slight net loss ahead of UK’s GDP figures to be released tomorrow morning. Rates did get as low as 1.419 before recovery above 1.42 at the close of play today.

The flatness is largely due to American markets being closed for the Thanksgiving holidays.

My post below this morning did predict a drop below 1.42 but I was surprised at the immediate snap-back on the rates upwards to end the day essentially where we started. When trading is thin you do tend to get sharper spikes on the markets rather than gradual changes throughout the day that we’re used to. So today is a good indication of the kind of volatility many Euro buyers can expect in December when trading begins to wind down at most banks and financial institutions.

While there was little change today there was still a negative emphasis on GBP/EUR rates of exchange, which is understandable with expectations of lower than expected GDP data for the UK economy presented tomorrow morning.

This will be a second revision of how well the UK performed in the third quarter of 2015. The first revision showed lower growth than first thought which caused GBP/EUR to fall by more than a cent during a day of trading last month. As such I would not be surprised to see similar results and shifts on GBP/EUR as the morning progresses.

The fact that rates are still above 1.42 after the initial fall this morning is a gift to Euro buyers ahead of the data release tomorrow. If I had a Euro requirement I would be tempted to seize the current highs ahead of time as we have already been given indications of what to expect tomorrow.

The end of the month also tends to see ‘profit-taking’ as traders wind down their positions ahead of December’s change of strategy for most companies – so expect serious movement on Friday and Monday.

You can reach me overnight on to discuss a strategy for your transfer in order to maximise your Euro return. I can also supply a competitive quote for your transfer and I have never had an issue beating the rates of exchange offered elsewhere.

Euro sellers can do the same, and we can discuss how to make the most of any opportunities that present themselves in the coming weeks in order to reverse some of your recent losses.

GBP/EUR exchange rates have a roller coaster day on the markets yesterday (Joshua Privett)

GBP/EUR exchange rates were catapulted upwards yesterday morning with a combination of positive US data and a strong Autumn Statement from George Osborne concerning the British economy.

Over the past month the Euro has been losing value from capital outflows to the US Dollar, due to the explicit hints that the US are set to raise interest rates in December.

With the Eurozone’s current base interest rate down to 0.05%, the US rise to 0.5% is an attractive proposition. This explains the loss of demand for the Euro on the markets, and hence the cheapening of the Euro on GBP/EUR rates from the absolute lows of 1.33 endured in October.

Yesterday positive retail data for the US economy was what gave greater certainty of a looming interest rate hike, hence further capital outflows from the Euro, permitting GBP/EUR to rise above 1.42 again after dipping below on Tuesday.

Osborne’s Autumn statement also added further confidence to Sterling.

The speech dialed back from complete focus on austerity which showed greater confidence from the Government in the UK’s current economic position. While cuts are still being announced, increased spending was forecasted for the NHS and the proposed cuts to tax credits for low-income earners are now off the table all together.

This morning positive Eurozone data is causing the 1.42 level to be tested once more and I expect it to be broken through later today with almost no information set for release which could reverse this trend.

Tomorrow we have UK GDP data which traditionally shows a slight lull before the Christmas period as consumer habits stagnate ahead of the explosion of activity during the Christmas period. As I am predicting more risk than opportunity currently in the markets for anyone looking to buy Euros in the final few days of November.

I strongly recommend that those with Euros to buy should contact me on 01494 787 478 and ask the reception for Joshua to discuss a strategy for you transfer in order to maximise your Euro return. These current levels can be fixed to avoid harmful movements in your favour –

GBP/EUR Will the Autumn Report Caused Volatility?(Daniel Johnson)

The Autumn Report has not caused any great shakes this afternoon, with GBP/EUR currently sitting at 1.4222. I think the most important release to have impact on GBP/EURn was the head of the Bank of England Mark Carney’s testimony yesterday. There are worries over UK inflation currently sat at 0.1%, the target is 2% and Carney indicated he would be willing to drop interest rates before there would be a hike.

Despite reports of a firm UK economic recovery this is a very worrying situation, I think with GBP/EUR levels currently very close to the eight year high of 1.4407 I would be very tempted to get something done if I was a Euro buyer. Potential gains could be slim but losses could be substantial, we witnessed how Black Monday knocked GBP/EUR back to the 1.34s only weeks ago.

I would be happy to assist with your currency requirements and I am currently in a position to beat any rate of exchange from any competitor. Please do get in touch if I can be of assistance. I can be contacted on 01494 787 478 or .

Euro rates rise!

A surprisingly buoyant report from the Treasury and favourable news from the US saw the Euro weaken against both the pound and the dollar this lunchtime. Expectations are firmly on the ECB for any possible QE move next week, if you need to buy or sell euros making some firm plans sooner rather than later is probably a very good idea! The Bank of England has been talking down sterling lately but essentially the UK is still now well ahead of other economies (but behind the Sates) as the economy most likely to raise interest rates in the future. This has boosted the pound (as well as the USD) and should see sterling remaining stronger against the Euro.

December is shaping up to be an exceptionally busy month on the foreign exchange market with the ECB Meeting 2nd December and the Federal Reserve meeting 18th December. Euro exchange rate movements hinge on two key factors. One is whether or not the ECB launch or indicate further QE at their 2nd December meeting. There is much speculation about how much, when and also whether any interest rates cuts are planned. The ECB is in a difficult place with plenty of speculation and pressure as to what they will do next! The Fed’s decision is also vital, if you need to buy or sell Euros in the coming weeks and next year then making some plans now is very sensible!

For more information at no cost or obligation please email me Jonathan on, I am very confident I can offer some useful insight to help you make a decision on what to do.

Sterling loses value against the euro (Dayle Littlejohn)

Throughout today’s trading period the pound has lost over a cent value against the euro. 

The morning started with a host of German economic data that started the spiral. Business climate conditions had improved however GDP YoY stayed at 1.8%

Later in the morning Mark Carney (Governor of the Bank of England), gave his latest press conference in regards to inflation. His dovish stance continued to dent the purchasing power of sterling and the market continued to slide. However he did eliminate any talks of  the Bank of England abolishing cash, as this would mean the Bank of England would abandon the inflation target causing sterling weakness.

Tomorrow is quiet for economic data releases. The only release to note is UK Mortgage Approvals at 9.30am. Mortgage approvals are a key indicator to how the housing market is performing. The consensus is for a small rise therefore we could see sterling make back some of today’s losses.

If you have an upcoming currency transfer and I have not covered the currency pair that you are looking to trade (EUR/USD, EUR/AUD, etc). Feel free to email me with the currency pair and your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with a forecast and the buying process. Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask for Dayle Littlejohn.


Sterling Euro Rates quiet ahead of a busy week (Tom Holian)

Sterling Euro exchange rates have remained relatively quiet during today’s trading session as the market waits to see what happens later this week with various data releases.

German GDP data is due out in the morning and this could provide us with some short term movements for the Euro depending on how the figures come out compared to the expectation.

US GDP is also out in the afternoon and I think this could mean a higher chance of the US increasing interest rates next month and this is part of the reason why Sterling Euro are close to an 8 year high at the moment.

We end the week with UK GDP on Friday and we could see a good end to the week for Sterling Euro exchange rates.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian



GBP/EUR exchange rates set for Euro strength to begin the week (Joshua Privett)

A quiet week for UK economic data will see GBP/EUR rates of exchange governed largely by events in Europe and the USA.

Tuesday will see Gross Domestic Product data released for the German economy during the third quarter of this year. As the powerhouse of the European economy, German performance is recognised as a strong barometer for the value of the Euro as well.

Germany has weathered the storm of the VW emissions scandal surprisingly well. Recent trade data for the German economy – likely a result of the Euro becoming significantly cheaper in the middle of October. As such I expect Tuesday’s data release to reverse the losses for the Euro last week on GBP/EUR exchange rates.

The reason for these losses was nothing to do with weak Eurozone performance, or strong UK data (which have been struggling to wow markets recently).

Most of the movement on GBP/EUR has been artificial (a result of financial trading patterns) – which is the only way to explain GBP/EUR rising by 10 cents to 1.43 from lows of 1.33 at the start of October.

The US have made explicit hints that they will be the first country in the western world to hike interest rates since the 2007/8 financial crisis. The magnitude of this announcement is what is driving Euro holders to exchange the single currency for US Dollars in the hope of better returns further down the line.

The current interest rate on Euros is 0.05%, and the US will raise theirs to 0.5% soon, hence the attraction. The reason the Pound isn’t being hurt in the same manner is that our interest rates are already at the 0.5% mark. The sell-off of Euros in return for Dollars is causing the Euro to lose value through lack of demand.

Further data will be released on Wednesday which is set to provide further confirmation of a rate hike, weakening the Euro further in the short-term. However, the crystal ball question is will this weaken the Euro more than it is set to be boosted on Tuesday?

Personally, I feel the question is largely irrelevant. Any net gains if they occur will be minimal, and rates of exchange keep getting pushed back from the ‘magic’ 1.43 mark immediately for Euro buyers on GBP/EUR rates.

As we are so close to multi-year highs, I strongly suggest that those with a Euro purchasing requirement should contact me on 01494 787 478 and ask the reception for Joshua  to discuss how these current rates of exchange can be seized and secured to avoid any harmful movements against your favour.

I have never had an issue beating the rates of exchange offered elsewhere and these current levels can be easily fixed for a future transfer to make a ‘wait-and-see’ approach unnecessary for your GBP/EUR exchange.


Sterling Euro exchange rates for the week ahead (Tom Holian)

Sterling Euro exchange rates have got close to an 8 year high this week as pressure mounts on the ECB to introduce more Quantitative Easing in December.

ECB president Mario Draghi’s dovish tones from this week and his comments  highlighted deflation risks which is clearly damaging for growth for the Eurozone.

I feel it is in the interest for the Eurozone to have a weak single currency but at the same time how long can it last?

I think we could see Sterling fall by Tuesday when the UK may finally publish its Inflation Report Hearings.

They have been due to take place on a couple of occasions recently but both have been delayed.

However, UK inflation has fallen recently and investors have so far overlooked this issue so if the findings on Tuesday show that there is a concern we could see a fall in the value of Sterling vs Euro if my prediction rings true.

One of the main driving influences upon GBPEUR exchange rates over the last few weeks has been the issue of the US Federal Reserve considering an interest rate hike before the end of the year.

The reason why we have seen positive movement for GBP vs EUR is that all this speculation has led to Dollar strength and Euro weakness.

On Wednesday the US publishes unemployment data and as the Fed has claimed on numerous occasions already this year that a rate hike is data dependent I think the data will be strong which will almost definitely force the hand of the Fed to raise rates in December.

Therefore, any fall for Sterling vs Euro exchange rates on Tuesday could quickly be reversed if the US data is positive on Wednesday.

My prediction for the week is Sterling strength vs Euro beginning on Wednesday afternoon.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian




Mario Draghi continues with a dovish tone! (Dayle Littlejohn)

Throughout a speech in Frankfurt this morning (Friday), Mario Draghi indicated further that the European Central Bank (ECB) could extend and increase the €60bn quantitative easing program in December. The ECBs target of 2% at present seems farfetched as the medium term forecast is for no change.

The Q.E. program started in March and at present it seems to have not worked, as inflation remains at a worrying low. Therefore I feel that Mario Draghi has no alternative other than to intervene and increase the amount of Q.E. each month. Investors/ speculators must be of the same assumption, as the market has already priced in the announcement and that’s why GBP/EUR has spiked 10 cents in 4 weeks.

I would recommend individuals who are looking to buy euros in the future should seriously consider buying now. My reasoning for this, if Draghi doesn’t increase the Q.E. programme and this is another bluff to make exports cheaper, we could see the rates plummet back into the 1.30s. Further to this as I have stated above the market has already priced in the announcement therefore I don’t believe the market is going to climb further than the 8 year highs we are seeing at present.

Quite simply I think it’s an unnecessary risk to hold out for an extra cent!

Important data releases to look out for next week are:

  • German GDP 9am Tuesday
  • UK inflation hearings Tuesday 10.00am
  • UK Consumer confidence Friday 01.05am
  • UK GDP figures Friday 10.30am

If you have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or simply wish to compare our award winning exchange rates with your current provider, then please feel free to contact me directly on Dayle Littlejohn.

Mario Draghi talks down the Euro yet again (Tom Holian)

Sterling Euro exchange rates have breached 1.43 this morning as ECB president Mario Draghi has again talked down the strength of the single currency.

Mario Draghi has stated that he will use all instruments if the price stability goal is at risk and that policy will remain accommodative for as long as needed. In layman’s terms he is keeping the door widely open for further QE.

Euro Dollar has fallen by 0.5% already this morning and Sterling vs Euro has also picked up by almost the same percentage.

If you have been reading my previous articles then you will noticed that each time Mario Draghi takes centre stage this weakens the Euro as I think the ECB president wants to keep the single currency weak as it helps domestic growth.

Low inflation is also a major worry for the Eurozone and the likelihood for December is that the Eurozone will implement additional QE into the market on top of the allocated €1.1 trillion.

This is one of the reasons why Sterling has been trading close to 8 year highs vs the Euro this month and with the US Federal Reserve contemplating an interest rate hike next month this again is a big reason for Euro weakness.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian




Is now the best time to buy Euros with pounds?

I think the answer to this question has to be positive since we are so very close to those best levels of 2015 not seen since November 2007. Some of the more keen market watchers out there might point out the rate is not quite at the previous top hit in July of 1.44 but I don’t think that should detract from the fantastic levels on offer. By and large the last few years have been a punishing time to purchase Euros with the pound since the UK economy has been struggling and there was a high level of confidence in the Eurozone despite uncertainty elsewhere. Since then the UK economy has recovered whilst the Eurozone is still lagging and economic fears rife. The currency markets are fickle beasts and events can quickly change, I do believe that with everything going the right way for Euro buyers currently now is the time to really take stock and not risk losing such amazing levels.

The upshot is the bad news surrounding the Euro is very much priced into current levels and any change in the forecast could see a big change on the rate, in short I feel there is more to lose from holding on too much longer than gain. If you need to buy or sell Euros in the future making some careful plans is sensible, if you wish to get an overview of the market and get an understanding of our services and rates please email me Jonny on

When to Buy Euros (Daniel Johnson)

Today saw the release of UK retail sales figures and they came in below par. GBP/EUR dropped from the high of the day ,1.4319 and now sits in the mid 1.42s.

The reason GBP/EUR is currently sitting at some of the best levels in the last eight years is due to the ECB (European Central Bank) indicating they are willing to increase and lengthen their QE program. Essentially QE is pumping money into an economy in order to stimulate growth. Although the increase is set to be implemented the market has already factored in the increased QE.

If I was a Euro buyer I wouldn’t be hanging on for small gains, to procrastinate can prove costly.

I am currently in a position to beat any bank or brokerage’s. If you have a Euro requirement I will be happy to assist and provide strategy depending on your personal situation. You can contact me by calling 01494 787478 or feel free to e-mail me at . Thank you for reading my blog it is appreciated.