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GBPEUR Stress Tests warry

Sterling levels have been volatile again this week but levels are now tip toeing ready for the European Stress tests over the weekend. These are released on Sunday afternoon and summaries the work of over 6000 people who have been checking and testing the top 300 institutions across Europe.  Banks and Brokers are opening over the weekend as a result of the news and what information they publish. This will probably result in a large amount of money changing hands on Monday and levels being volatile. For another that is not a central bank or multimillionaire this is something to be wary of; it could give you an opportunity or equally provide a extra cost on any purchase you have. The safest thing to do to avoid risk is to limit your exposure beforehand by either buying early or putting limit orders in around the market. These act like a safety net around the market making sure you say within targets you set, very useful in these kind of scenarios.

For more information on your options and the potential reaction to these stress tests contact myself directly via email at  My name is Steve Eakins and I look forward of being of assistance.

Eurozone Consumer Confidence Figures Better than Expected (Matthew Vassallo)

Eurozone Consumer Confidence figures were release today and came out better than expected at -11.1%. Whilst this is still not a good reading, any improvement above expectation is seen as positive and helped the EUR to solidify its position against GBP under 1.27 on the exchange.

The Eurozone continues to fight against weak growth forecasts and high unemployment but this in itself is starting to negatively affect other major economies, including the UK and it I do feel the EUR is more likely to move back through 1.25 against the Pound, the GBP spiking back through 1.28 on the exchange.

EUR/USD rates continue to trade well below 1.30, as the USD continues to find market support against the single currency. An upturn in the US economy has helped sustain the greenbacks position and I do not see any shift in market perception in the short-term.

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

Important Euro data

GBPEUR has mainly been determined by the pound this week but tomorrow at 9.00 am the Eurozone composite PMI (Purchasing Managers Index) will possibly be an important market mover. There is a strong likelihood it will be bad news but with generally negative tones persisting on the Euro it is unlikely any further bad news will cause the rate to lose too much ground. There could even be a slight upside surprise on the rates since the Euro is being viewed negatively by investors, any small improvement in the data could cause the Euro to find a little traction.

I would view any improvement on the Euro as well worth taking advantage of if selling since the longer term prospects I do feel favour the pound over the Euro. Making firm predictions is of course impossible but we really strive to offer useful information and an award winning rate when you do trade. For more information on getting the best deals please contact me Jonathan on

Bank of England Minutes (Tom Holian)

Sterling Euro exchange rates have remained relatively flat today as the Bank of England minutes came in exactly as expected. The vote was 7-2 in favour of keeping interest rates the same and the amount of QE has been kept at £375bn.

I think the currency markets are waiting to see what happens with UK GDP due out on Friday. The chief economist within the Bank of England was quoted recently as saying the economic outlook is different compared with the optimism of 3 months ago and that interest rates may not go up until summer 2015.

If he thinks the economy has slowed down I think we could see this reflected in the GDP figures on Friday which could see GBPEUR rates fall.

UK Retail Sales are also due out tomorrow and any negative data could see Sterling weakness.

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





Sterling Euro – Forecast For The Week Ahead

The Sterling Euro exchange rate has a busy week ahead as the next 5 days hold several key data releases.

Wednesday 23rd October – Bank of England Minutes

Wednesday has the release of the minutes of the Interest Rate meeting which was held at the beginning of the month. The meeting is held by the Monetary Policy Comittee (MPC) and chaired by the governor Mark Carney, deciding the Bank of England base rate for the month – one of the key indicators of economic strength / weakness. The Interest rate has remained at 0.5% for in excess of one year, however as the UK has achieved sustained economic growth, economists in the city have been murmuring towards and increase in the rate – a real indicator to the progress made. The minutes on Thursday will give us a good insight in to the internal thoughts of the MPC and can really move the markets. My thoughts are that the short to medium term will primarily hold Sterling strength, and would therefore be inclined to sell GBP prior to Wednesday.

Thursday 24th October – Retail Sales Figures

Those selling GBP will also want to be wary of both Thursdays Retail Sales Figures and Fridays GDP announcement (paragraph below).

Friday 25th October – UK GDP Announcement

Friday holds potentially the most important piece of data for the week. The GDP figure for Quarter 3 2014 is released and given the turbulent quarter (primarily Scotlands Political activity) we can potentially expect a market provocative figure. I have seen GDP figures move exchange rate pairings by over 2% in a moment of seconds. Had you been selling €100,000 and the rate moved against you, you’d achieve thousands of pounds less!

As such, please feel free to contact me with regard to any transfer requirement you may have. My contact details are either or 01494 787 478

Will the Euro recover against the pound?

This week is a busy week and it may be that exchange rates move outside of recent ranges. The expectation longer term is for the pound to rise against the Euro since the UK appears to be on a stronger economic footing than the Eurozone. My personal approach would be to sell Euros on the dips in your favour to avoid potential pitfalls of the pound rising against the Euro in the future.

This week we have the Bank of England Minutes which are not expected to show much change, Thursday UK Retail Sales which I think could be a big market mover and Friday we have UK GDP, the first estimate for Q3 economic growth. Thursday we also have flash PMI surveys for the Eurozone which may well be market movers too, all in all plenty to move the market!

If you need to move any currency internationally now is a good time to make some careful plans regarding your currency exchange. For more information on the forecast please contact me Jonny on

GBPEUR rates continue to fall

GBPEUR levels are CRASHING THIS WEEK, THIS MONTH. There have been a number of factors impacting market trends but it is safe to save a negative trend has been well established. UK data this mounting continue to be poor as it reflects September when everyone was wary about the Scottish vote. European news continue to been poor, very poor in fact which is driving investment away from the single currency and the Pound by association.  There is the potential that next month we will see a pick up and a change in trend for the GBPEUR pairing but I think we will have to wait a while to re-capture the losses we could see over the next fortnight. As a result anyone buying euros may want to move sooner rather than later to avoid any further disappointment.  Euro sellers should equally be in a position to move when the tide turns which could only be 10 days time.

For more information on any of the topics above please feel free to get in contact when you get some time. Feel free to contact myself directly for a personal reply at

GBPEUR drops! Have you made plans for the worst case scenario?

The pound suffered today as Inflation data showed a fall, meaning no real rise to raise interest rates anytime fast! This bodes well for anyone selling the Euro to buy the pound but I would be concerned if buying the euro with the pound since the exchange rate looks likely to fall if this continues.

Ultimately there are many factors affecting the pound lately including the fears of Ebola and the general deterioration in sentiments on the currency markets. For more information please contact me Jonathan on

Sterling Euro Exchange Rates Falling (Tom Holian)

Sterling Euro exchange rates have been falling during the course of this week and have dropped by almost 2 cents since hitting a 2 year high recently.

One key event of the week was yesterday’s Bank of England interest rate decision which confirmed that UK interest rates will remain on hold. Indeed, with an election in May I think it could be quite some time before the BoE looks at changing interest rates in the near future.

Yesterday the IMF predicted that we could see a 40% chance of a fall for the global economy and today we have seen the FTSE fall to its lowest level in 2014.

Earlier this month the European Central Bank decided to combat inflation by introducing another round of QE. This actually helped to strengthen the Euro as it was seen as a positive move for the continent in an attempt to promote growth by encouraging spending.

One looming fear for the Eurozone is that Germany is at risk of entering recession with exports dropping by as much as 5.1% last month this is not good news for the Eurozone’s leading economy.

Next week sees the release of UK CPI & RPI which are measures of inflation. Also out is the announcement of UK unemployment due on Wednesday. I think the figures will be slightly negative for inflation but positive for unemployment so we could see Pound strength later in the week.

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








A Quiet Week for the EUR (Matthew Vassallo)

It’s been a quiet week for the EUR with little economic data of note out to shift the single currency. We have seen the EUR realign itself slightly against GBP, with the pair floating around 1.27 on the exchange. This has come after a difficult couple of weeks for the EUR, which culminated in the Pound hitting a fresh two year high of 1.2855 last week.

I believe we will see the EUR supported around the current levels and in my opinion we are more likely to see a move back towards 1.25, rather than see rates spike up to 1.30. ECB president Mario Draghi’s speech this afternoon could cause additional volatility for EUR exchange rates. Depending on his stance regarding the Eurozone recovery is likely to determine how the markets react to his speech.

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

GBPEUR rates falling from recent highs but is now the time to buy?

The euro has gained some strength against the Pound this week but a majority of these gains is not euro strength but Pound weakness. Date out of the UK has generally been in line with expectations however missed the general improvements many had become accustomed to. Recently the UK has lost its AAA credit rating but the IMF overnight put the UK ahead of most of the world in turns of growth. They did however state that it remains unbalanced which may be reason to worry.  Equally with a large exposure to the single currency it could be said that their low levels of performance could be having an impact on the value of the Pound.  A fact that is being overlooked in my opinion is also the 40% chance of a double dip recession made but eh IMF. This could be as soon as next year which could have a significant impact on the Pound moving forward. Lastly we have also recently seen the forecast for UK interest rate hikes pushed back until the middle of next year, lowering the amount of investment, demand and therefore the value of the Pound.

All rather negative I am afraid or at least information to be wary of when we see rates drop further in the weeks and months ahead.  What I would however also remind readers of is the fact that the GBPEUR level is, if you ignore the last 2 weeks, at the highest levels seen for 2 years! As a result it still represents a good buying level that may be worth taking, the risk of rates falling are perhaps higher than the chance of rates improving further.

If you would like to discuss your options in full with ourselves feel free to email me at remembering that you also have the option of locking in levels even if you don’t have the full access to the capital. Plenty of options available for every situation.

Look forward to hearing from you.

Will NIESR GDP Boost The Pound Versus The Euro Today? (Colm Gilhooly)

Today we have UK Industrial and Manufacturing Production figures released at 9.30 which will give an indication of how the UK economy is performing and therefore influence sterling euro exchange rates.  However the big news of the day is likely to be the unofficial GDP figures released by the NIESR (National Institute of Economic and Social Research) which is a very well respected think tank who’s figures often accurately forecast how official UK figures will actually appear.

If the data is strong we could see sterling euro exchange rates go up substantially.  However as always with data forecasts, the outcome and the effect on the markets will always be a bit of a gamble.  In my view the Euro will come under more pressure over time, so if you are selling euro it may be worth moving soon to take advantage of the recent strength following the ECB decision.

If you need to make a currency transfer, and want to get the best exchange rate, then feel free to email Colm at and I would be happy to help.