Tag Archives: the best deal on euros against the pound

GBP/ EUR progressively drops due to Greece striking a deal with creditors and poor UK economic data.

Over the last three months Greece had stolen the headlines with speculation of a possible ‘Grexit’. Greek Prime Minister Alexis Tsipras had been constantly negotiating with Eurozone leaders to secure a third bailout and stop Greece from going bankrupt.  The talks caused serious volatility within the currency markets and GBP/ EUR exchange rates spiked into the 1.44s. Finally, over a week ago, Greece won a conditional agreement to receive a third bailout, set to run for the next 3 years.

Last week we saw a contraction in the UK retail sector, normally a fantastic performer compared to global competitors and also poor industrial confidence figures yesterday morning. Poor economic data and a deal with Greece has pushed exchange rates back towards the 1.40 level. For clients who held on hoping Greece would leave the euro I am now of the opinion the window of opportunity for buying euros at the high has gone.

Over the last 7 days GBP/ EUR rates have dropped 3 cents. I think this trend could continue over the next month and GBP/ EUR exchange rates could drop back into the 1.30s. To put it simply if you bought €100,000 7 days ago it would have been £1,500 cheaper. For clients needing to buy euros within the next 30 days I would recommend getting in touch as soon as possible to book a rate. Feel free to drop me an email with your requirements and I will reply accordingly drl@currencies.co.uk (Dayle Littlejohn).

Greeks finalise bailout and GBP/EUR rates fall to 1.42

Yesterday Greece passed the crucial reform bills necessary for talks on the €86bn Euro bailout to begin. The protests outside the Greek Parliament turned ugly once more, with further petrol bombs and other potentially lethal devices being deployed.

Today a significant amount of data will be released on the UK economy, but these will likely have little bearing on exchange rates at the moment. As such it is likely that we will see a gradual decline in rates today now that the bailout will be moving forward without any more objection from Greece.

Further down the line, I’m sure negotiations over the specifics of the bailout will become very contentious as they have in the past. But this will be weeks, or even months away. Those who have a Euro requirement in the next month may be looking at the best rates available as I type this article.

Call me on 01494 787 478 and ask for Joshua to discuss how to secure the most favourable rates of exchange while they are still available. Even if your requirements are not until later in the month, it is a simple task to peg the rates as they are to avoid missing out. jjp@currencies.co.uk

Why a deal MUST be struck!

There are now so many different things going on with Greece it is difficult to keep track. I am amazed it has gone this far but we are constantly being surprised when it comes to Greece! I am of the opinion that two things will happen now.  The first is Greece will stay in the Euro and that following the agreement of a new bailout the Euro will strengthen. As disturbing as the amounts of money involved are to the process here, I just cannot see how the Eurozone will let Greece leave the Euro. To do so would be a gross turn in the history and spirit of the European project and the Eurozone.

Such a move would lead to further troubles with other Eurozone members as stagnant economies are allowed to disintegrate and effectively wither and die. This is not what the Eurozone was setup to do and is not what the Eurozone members will stand by and allow to happen. More likely I feel is that a deal will be struck to keep the Greeks in the Euro and provide further extensions on the previously agreed bailout terms. Just what is around the corner is very difficult to ascertain with the Euro but on balance I think even at this late stage it is not too late to have hope.

Allowing Greece to leave is a direct contradiction of the fundamental principles of the European Union and the Eurozone and should not be allowed to happen at whatever cost. Greece needs to be nurtured and put under strict conditions to allow an economic recovery to develop and the lives of the Greek people to improve.

For more information on this situaiton please email jmw@currencies.co.uk, I look forward to your thoughts, opinions and offering solutions.

Will GBPEUR hit 1.40 again?

GBPEUR has divebombed! This has caused some major headaches for the clients we have looking to sell the pound and buy Euros. The expectation is that the rates could fall further, the rise in the value of the Euro is attributable to the improvements in the situation for the Greek debt crisis. It is looking more and more likely that the deal will come good and the Greeks will remain in the Eurozone. Expectations that Friday’s debt will be repaid are now high, who is to say what will happen next week and beyond however!

If you need to buy or sell Euros I expect that the rates will remain volatile and react to the headlines. I see further potential for Euro buyers to capitalise if you need to sell Euros I would suggest moving on the spike. If you need to buy or sell foreign exchange in the future please contact us today to run through our services. Please email jmw@currencies.co.uk

GBP/ EUR exchange rate finished the week on 1.38. (Dayle Littlejohn)

It has been a mixed week for GBP/ EUR exchange rates with highs of 1.4021 and lows reaching 1.3812. Sterling gained momentum at the beggining of the week off the back of news that the conservative party formed a majority governement.  The rates then fell when the Governor of the Bank of England  unveiled his quarterly inflation report. Inflation for the second month was at 0% well below the banks 2% and very close to deflation. Mark Carney and the BoE then went on to cut the 2015 growth forecast from 2.9% to 2.5%.

For clients who were looking to purchase €200,000 this week they could have made it £2,000 cheaper by trading at the high compared to the low. If you are looking to trade sterling to euros in the upcoming weeks feel free to email me for  a forecast drl@currencies.co.uk or alternatively call into the office 01494 787 478 and quote Dayle Littlejohn.

The GBPEUR slide begins!

Well it has started, as expected. You cannot say we didn’t warn you, the pound is beginning to weaken against the Euro as we have been expecting for a few weeks. GBPEUR has hit 1.37 after being over 1.40 earlier this week. Can you really afford to ignore these changes? The reason is twofold, sterling weakness ahead of the election and improvements in some Eurozone data helping the Euro to climb against the peers.

If you need to buy any Euros I think moving sooner is sensible, if you are selling Euros for sterling it might be worth holding on to wait for some improvements. If there is anything I can help with in terms of the timing of such transfers why not get in touch? I am sure I can offer some useful practical assistance and information to help you get a better deal. For more information on your situation please email me Jonathan on jmw@currencies.co.uk

When should I sell my Euros for pounds? Euro selling opportunity!

I think that if you need to sell euros for sterling you are currently looking at an excellent opportunity. Selling euros has been a stress in 2015 as the Eurozone launched their QE programme and Greece has been back in the headlines. It seems that those issues are unlikley to go away and the Euro is going to continue to be under pressure. With that in mind if you need to sell Euros for the pound moving sooner during the uncertainty of the UK’s General Election seems sensible.

I can help with the planning and execution of any international money transfers you need to make. As well as offer an exchange rate better than your bank we can also help with the timing of any currency exchange. For more information please contact me Jonny on jmw@currencies.co.uk

Sterling set to weaken against the Euro (Dayle Littlejohn).

Over the last 3 weeks Sterling has lost 6 cents against the Euro. For anyone looking to purchase a €200,000.00 property abroad it will not cost you an extra £6300 compared to the high 3 weeks ago and i’m of the opinion it will only get worse.

With the 2nd of the live debates tonight at 8pm, I believe the smaller parties will get the upper hand which will lead to further political uncertainty.   Furthermore I am of the opinion week by week Sterling will continue to weaken against the Euro and the inter bank level will fall to 1.33/ 1.34 by May 7th.

If you are buying a property abroad in the upcoming months my advice would be to buy currency upfront. If you do not have the Sterling available you can still lock into today’s rates and pay later. For more information feel free to email me on drl@currencies.co.uk or alternatively call 01494 787 478.

Will GBPEUR hit 1.40 again?

The foreign exchange market is a very fickle beast, sometimes markets can fluctuate quickly and unexpectedly. The current market is one such market with exchange rates very difficult to predict and very likely to fluctuate. Therefore if you need to buy or sell Euros for sterling being prepared is the only way to benefit, simply ‘hoping’ rates will go the way you have planned is not good enough and will often lead to disappointment!

The next few weeks will see economic data released and political uncertainty from the UK’s General Election and also the Greek situation as well. Keeping up to speed with all the latest news is the only way to really make the most from your currency exchange. If you need to buy or sell the Euro please contact me Jonny on jmw@currencies.co.uk for all the latest events and news that will affect your rate!

Will GBPEUR reach the 1.42 again?

GBPEUR is likely to climb higher again in the future I feel and this will be due to movements on EURUSD. As investors anticipate the US will raise interest rates they are pouring funds in to the safe haven currency and it is appreciating value. As the dollar gains momentum much of the funds arriving in USD are as Euro. Investors are selling off Euro positions and holdings to buy the Euro in anticipation of an even stronger USD in the future.

EURUSD is expected to break parity in the coming months and some forecasts have the pairing hit 0.9 and 0.8 longer term! Sell your Euros now is I think the only way to avoid some seriously heavy losses longer term! If you wish to get an update on the market or discuss anything relating to your exchanges please contact me Jonathan on jmw@currencies.co.uk to learn more.

Can you really afford to risk holding on to sell Euros?

Once again today we have seen a further deterioration in the price of Euro as investors fears over exactly where this is headed firms up. Just think if you were an investor would you prefer to have in say 6 months or a years time the a) Pound, b) Euro or c) the USD? I think to ask most people you would recieve the least answers b) as the future for the Euro looks very uncertain. So now we are in the midst of yet more uncertainty which is likely to cause yet further turmoil on the markets.

If you need to the pound or dollar with the Euro moving sooner might be best to avoid yet further losses. This might be a painful pill to swallow but it might be worse in the future! For more information on securing your currency at the best rates of exchange please contact me Jonny on jmw@currencies.co.uk.

GBPEUR back above 1.33!

Expectations the end of better rates for Euro sellers have been thwarted this afternoon with exchange rates rising up and over 1.33 presenting excellent opportunities for Euro buyers. If you need to buy Euros now is a much better time than last year but might get more tricky later in the year due to the UK’s General Election. We could also see any resolution in the Greek situation causing the Euro to rise up higher too.

If you need to make any transfers buying or selling Euros why not get in touch to see if you could be getting a better deal? We are in business principally to undercut the banks and other sources so if you wish to look at getting a better deal or learn a bit more about the forecast on the exchange rate, please contact me Jonny on jmw@currencies.co.uk