Category Archives: Euro Strength

Sterling moving from Strength to Strength. (Daniel Johnson)

The stall in Greece’s debt negotiation has caused Sterling to rise even further against the Euro. GBP/EUR is currently sat comfortably in the 1.37′s and has tested 1.38 at some points today. Key data to watch out for next week will be the European Consumer Price Index, Euro Gross Domestic Product and Euro Retail figures.

The market sentiment does not bode well for the Eurozone,  For any serious movements in the Euro’s favour we will need to see a resolution in the Greece situation or positive inflation figures. The postponement on Greece’s debt negotiations is set to last for four months and with Quantitative Easing only being introduced in March, we will not see if it has had any affect until at least a month after. I am sceptical of QE.  It is very hard to judge the impact of the cash injection and the only definite is the economy in question’s debt will grow exponentially. The ECB will be pumping in €1.1 trillion a figure not easily repaid.

 

If you are a Euro seller your losses could be severe if Greece exit the Eurozone. And with the GBP/EUR trend set to continue you should be seriously considering making a move.  If you wish to call me to discuss your currency requirements please do get in touch by calling me on 01494 725353 and ask for Daniel Johnson, alternatively drop me an e-mail on dcj@currencies.co.uk .

GBP-EUR Best Rates – 1.37 still holding after being tested during the morning trading session. (Joshua Privett)

No ground was gained today in total, but it was regained after the Euro rallied back against Sterling this morning.

Even strong data coming out of the German economy wasn’t enough to encourage the market movements everyone was expecting.

What we currently have is a very agitated investment base in the Euro. Those who wanted to get out and were expecting the Euro to rally more, are cutting their losses. With the move half-a-cent in the favour many took it. The reminder yesterday that a strong American Dollar can have a disproportionate affect on the value of the Euro, seeing it crash further, meant many investors already cornered into an impossible decision, took the chance while the rates were there.

They bit the bullet and took these rates with the hope of future profits when interest rates are raised there first.

The pull-back expected once an agreement with Greece was already lessened by the fact that no agreement was really made, just pushed back by 4 months. Furthermore, any signs of a Euro rally are immediately jumped on before the rally can really mature. Those selling Euros should still try and take advantage of this if they can, we could see a further fall-back at the start of this week. But it seems in the short-term we may be holding ground in 1.37 until the start of trading on Monday.

 

If you have a currency requirement and what a competitive quote, or some advice in this still volatile atmosphere, then call through to the trading before the end of trading today on 01494 725353 and ask for Joshua, or email me on jjp@currencies.co.uk over the weekend and I can get back to you for some more tailored advice.

GBP/ EUR fresh 7 year high!

With Greece and the Eurozone coming to an agreement on an additional 4 month bailout, the uncertainty created by this has pushed GBP/ EUR rate to a fresh 7 year high. I’m a strong believer going forward in the upcoming months the bailout terms will be renegotiatied. Therefore I believe GBP/EUR rates will drop back to 1.34s.

If you are purchasing a property abroad in the upcoming months it might be wise to lock into a forward contract. This is where you lock the rate of exchange in now and pay later. For more information feel free to email me drl@currencies.co.uk or alternatively call 01494 787 478  and quote Dayle Littlejohn.

Markets Trading on Uncertainty – Euro Buying Opportunity ( Andrew Bromley )

GBP EUR shot up dramatically yesterday afternoon as the markets still wait a resolution in Greece. Although the bailout extension has been provisionally agreed, the overall direction for the troubled country is yet to be confirmed. The most recent announcement is for a German led vote on the bailout, which could again highlight the Germans discontent with the situation.

Yesterdays US Inflation data also unfortunately proved poor for Euro holders. What was received as positive sentiment for the US economy influenced international investors, subsequently moving funds in to the US Dollar and out of the Euro – Weakening the single currency yet further!

If you do have a currency requirement, please feel free to get in contact on 01494 787 478 – please ensure that you ask for Andrew Bromley and quote this blog – that will ensure access to unbeatable exchange rates! Alternatively, drop me an email to AJB@currencies.co.uk – I’ll be in touch with a response.

The Euro is in freefall!

The Euro has struggled even more this week with investors bracing themselves for further losses in the future. All in all it has been one of the worst years so far in Euro history, what can we expect now? I think the Euro will now test the 1.40 level as investors refuse to accept the problems are solved and anticipate future danger.

All in all if you need to sell Euros you should really take stock of the current forecast to avoid disappointment. When buying or selling Euros it is very important to buy or sell at the better levels and make sure you do not miss out on the current opportunities. We suggest making contact at an early stage so that  you don’t suffer from the uncertainty!

Please contact me for any information on jmw@currencies.co.uk

 

Greece proposals accepted by Eurozone ministers! (Dayle Littlejohn)

Yesterday was a positive day for the future of Greece as Eurozone ministers accepted the list of economic reforms proposed. This has lead to Greece now recieving an additional bailout of 4 months.  I am surprised  the Euro has not significantly strengthened from this and exchange rates have not dropped to the 1.34s.

However going forward there are three main reasons why I would be looking to buy Euros sooner rather than later:

- Exchange rates have stayed at a 7 year high.

- Greece have accepted a four month bailout something they swore they would never do as they wanted to end austerity. I now believe in four months time negotiations will go smoothly and therefore will strengthen the Euro.

- With the upcoming UK election, there is no doubt this will stir political uncertainty, therefore this should weaken the currency in question (sterling) and exchange rates should drop.

If you are looking to buy Euros in the future but do not have all of the Sterling available an option for you is a forward contract. This is where you can book today’s 7 year high rate of exchange and then pay later. If you are looking for further professional advice feel free to email me on drl@currencies.co.uk or alternatively call 01494 787 478 and quote Dayle Littlejohn.

 

Where Next for EUR Exchange Rates? (Matthew Vassallo)

The EUR has continued to come under pressure against most of the major currencies during the early part of the trading week, with GBP/EUR rates hitting a fresh 7 year high during Monday’s trading. This move was enhanced due to the uncertainty surrounding the current Greek debt crisis and the failure to reach an agreement with its creditors.

However, reports today have indicated that Eurozone finance ministers have agreed to reform proposals submitted by Greece in order to extend its current loan repayment deadline and this is likely to ease pressure on the single currency if confirmed. Whilst the approval still needs to be rubber stamped, it is the first inclination that we may find a positive resolution and will be welcomed by investors hoping for the recent market volatility to subside.

Looking ahead and tomorrow’s speech by ECB president Mario Draghi is likely to be key and could cause additional volatility on EUR exchange rates, as could Thursdays UK GDP figures.

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 mtv@currencies.co.uk

7 Year Highs – BUY Euros Now? ( Andrew Bromley )

The Euro is teetering on a knife edge this morning, as confirmation of an extension to the loan payment date of 28th February has still not been finalised. In the last hour the ECB has confirmed receipt of the required list of reforms, potentially meaning that we should hear shortly that the extension has been approved. This could provide Euro sellers with a brief window of opportunity to achieve a slight respite on an ever slipping Euro value.

The other key point today for Euros sellers is the statement from Eurozone Central Bank Governor Mario Draghi. Draghi is speaking on Quantitative Easing which was announced in January, so discussing Greece could be counterproductive / off topic.

If you do have a currency requirement, please feel free to get in contact on 01494 787 478 – please ensure that you ask for Andrew Bromley and quote this blog – that will ensure access to unbeatable exchange rates! Alternatively, drop me an email to AJB@currencies.co.uk – I’ll be in touch with a response.

Will the Euro strengthen against Sterling this week? (Tom Holian)

With Sterling Euro exchange rates having recently hit 7 year highs could the Greek deal that has been proposed see an end to this period of strength for the Pound?

Recent data for the Eurozone has been relatively good including GDP which confirmed growth of 0.9%. However, whilst the uncertainty of Greece continued any positive releases were overlooked by GBPEUR rates.

During the last 24 hours Greece has been granted an extension of 4 months which is likely to help strengthen the single currency over the next few days.

However, the deal is still yet to be finalised with Eurozone ministers in order for them to ratify the bailout extension on Tuesday.

This week I think we’ll se the Euro strengthen against Sterling as the Eurozone makes the decision to stick together and support Greece.

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 teh@currencies.co.uk

 

 

 

 

Greece Debt Renegotiations set to continue next week. (Daniel Johnson)

I have been following live updates with regards to the situation in Greece and it looks as though renegotiations will run into next week. The poker play between the the two sides has been the cause of  much hilarity with Greece stating the letter they sent agreeing to bail out conditions was in fact the wrong letter, apparently an “administrative mistake”.  And so it looks as though the fallacious strength  posturing is set to continue.

I still feel an agreement will be reached and we will see Euro strength.  If you wish to call me to discuss your currency requirements please do get in touch by calling me on 01494 725353 and ask for Daniel Johnson, alternatively drop me an e-mail on dcj@currencies.co.uk .

When should I sell my Euros?

If you are holding Euros and wondering when to sell them to buy pounds or even dollars you could soon be looking at an excellent opportunity. The exchange rate has really moved against anyone holding Euros as the European Central Bank unveiled a significant programme of QE (Quantitative Easing). The longer term forecast for the Euro is not particularly favourable because of this, the current Greek news has only made things worse!

Once however some agreement is made on the Greek situation I would expect the Euro to strengthen against its currency pairs. if you need to buy or sell Euros making some plans in this market is a very sensible option. Please speak to me Jonny on jmw@currencies.co.uk to learn more.

UK Unemployment Data Better Than Expected (Matthew Vassallo)

The EUR dropped again this morning against GBP, following the release of the latest Bank of England (BoE) minutes and UK unemployment figures. UK unemployment figures were expected to come out at 5.8% but the slightly improved figure of 5.7% helped to push GBP/EUR levels back up towards a 7 years high.

The EUR had started to realign itself yesterday following weaker than expected UK inflation figures but this improvement did not last long and whilst the uncertainty surrounding Greece continues, then the EUR will struggle to make any sustained inroads against any of the major currencies.

Whilst I do feel the BoE are likely to want to control Sterling’s value in order not to alienate our trade partners, they will struggle to do this unless Greece and its creditors agree upon some sort of an extension on their debt repayment deadlines, a scenario which I feel is the most likely outcome.

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, then please feel free to contact me directly on mtv@currencies.co.uk