Tag Archives: the best deal on euros against the pound

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 jjp@currencies.co.uk 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.

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 jmw@currencies.co.uk, 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. drl@currencies.co.uk Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask for Dayle Littlejohn.


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 drl@currencies.co.uk. Dayle Littlejohn.

What next for the Euro?

The Euro has had a very rough few weeks weakening significantly against all its peers, will this continue? Well the likelihood is that yes it will since the ECB have made clear further QE is on the cards in the future. December is when they might announce this measure which is bound to weaken the Euro as investors sell of the Euro. If you need to sell Euros for the pound in the future then I would suggest moving sooner rather than later! The forecast for the pound next week is not very good as we get the latest Inflation reports for the UK, Inflation has been the big worry for the pound and the UK, therefore this release could provide a very good short term opportunity to sell euros for the pound.

Looking to the next few weeks there are further releases which might help Euro sellers but on balance if I had Euros to sell I wouldn’t be holding on. If you need to sell or buy Euros in the future understanding what is driving the market is key to understanding what to expect on your exchange rate in the future. For a forecast specific to your position please email me Jonny a brief description of what you need to by emailing jmw@currencies.co.uk

GBP/EUR exchange rates to gradually decline before steep fall on Thursday (Steve Eakins)

The exchange rate for GBP/EUR was incredibly volatile to start the month off yesterday, with companies shifting capital to manage their assets for the next month causing violent shifts in the markets. However, as expected, there was a marginal net loss for the Euro. As I type this the rate is currently just above 1.40.

Today we have some construction sector data which is set to come in quite positively to match the stronger than expected manufacturing data released yesterday morning. Sterling could receive a short-term boost as a result.

However, market forces currently in play are causing pressure on GBP/EUR rates, and gains for Sterling from renewed confidence in UK manufacturing evaporated quickly yesterday afternoon. 1.406 was the high but 1.39 was back on the markets by lunch.

There are two reasons for this. Firstly, these current rates of exchange were made so favourable so suddenly that the rush of Euro buyers to take advantage of the current levels are driving up the value of the Euro through increased demand.

Those who have been watching the markets regularly will remember that the rates of exchange were as low as 1.33 during October, the worst time to buy Euros since February. This website has covered how much the artificial collapse in Euro value in the final week of October following hints of an interest rate hike in December for the US economy has helped Euro buyers.

Secondly, data over the coming weeks is unlikely to support the current buying levels, as comparative UK and EU economic performance do not justify such high GBP/EUR rates of exchange.

On Thursday the UK interest rate decision and monetary policy statement will be released. Month on month since August we have seen a serious snap-back in Sterling value following indications that an interest rate hike in the UK economy will suffer continuous delays.

Our current levels of inflation are the worst since records began, much worse than the positive data posted by the Eurozone last week. This is why, for the fourth month in a row, delays are expected once more as there is little change in the UK landscape. Sudden Sterling weakness will not surprise me, resulting in a slide on GBP/EUR.

I strongly suggest that anyone with Euros to buy over the next few months should contact me on 01494 787 478 and ask the reception for Steve to discuss a strategy on your transfer in order to maximize your Euro return by buying at an opportune time. We can also discuss a competitive quote for your transfer, and I have never had an issue beating the rates offered elsewhere. 

Furthermore, if you have Euros to buy later in the year or even in early 2016, the 7 cent improvements for GBP/EUR in October do not have to be wasted. You can peg these current rates of exchange for up to 12 months to avoid volatility causing your transfer to become more expensive. hse@currencies.co.uk




GBP/EUR rates weaken slightly as Eurozone inflation remains stable (Joshua Privett)

GBP/EUR rates were climbing yesterday afternoon ahead of the inflation data to be released this morning. It seemed markets were expecting some terrible figures to be coming in and were already pricing in a poor result and Euro weakness before the data was announced at 10 am this morning.

Previously poor inflation data released from Germany, the powerhouse of the European economy, showed very poor inflation figures and the consensus on the markets was that this should translate into the figures reflecting the Eurozone as a whole. When this wasn’t the case, rates weakened slightly and have since settled.

Most are reporting that these better than expected figures were down to a 9.8% increase in car sales last month! This figure came out alongside the inflation report, and this is the most surprising piece of data I’ve come across all year seeing as the Volkswagen scandal was expected to stall the marketplace! However, Italian firms have picked up the slack, with Fiat posting record numbers to compensate.

The appeal and flexibility of the Euro economy is continuing to surprise markets, which is why buying rates continue to be pushed down.

The first few weeks of each month are where most of the volatility is generally seen on the markets as this is where most of the economic data from the previous month is released. Following this there is little else to be seen and as such, markets tend to follow current trends established at the end of this initial period. This nice boost for Euro confidence today will likely keep buying rates for Euros down, and possibly even cause a further Euro rally as investors plan for the coming November and start investing in European business off the back of this news.

As such I strongly recommend that anyone with Euros to purchase over the next few weeks should contact me on 01494 787 478 and ask the reception for Joshua to receive a competitive quote on your transfer and to discuss a strategy for you to take advantage of any peaks that catch your eye that you would like to seize. Even if you do not need your Euros until November, these current rates can be pegged to avoid subjecting your transfer to further volatility. jjp@currencies.co.uk





GBP/EUR When should I move? (Daniel Johnson)

Sterling took a heavy hit earlier in the week against all major currency pairings after UK inflation figures pushed the economy into deflation. I would think this could well be down to a considerable drop in fuel and commodity prices. GBP/EUR dropped into the low 1.33s during Tuesday’s trading. It seems the days of 1.40 could be well and truly over. This will surely mean interest rate hike will be well off the cards until late 2016.

Average earnings were released yesterday and it is something that the country’s population really feel in their pocket. It came in lower than expected the general consensus was that it was meant to come in at 3.1% but we saw a slight decline down to 3%. On a more positive note we did see a drop in unemployment, the figures came in better than expected down from 5.5% to 5.4% which did give Sterling a much needed lift across the board.

UK data releases for the week are scarce so market movement will be more dependent on what is happening elsewhere. I do feel we are now seeing new buoyancy levels for GBP/EUR between 1.3350 – 1.3550. Even 1.37 seems unrealistic at present. Those who are hanging on for the high 1.30’s should seriously reevaluate there trading strategy if you need to move short term.

Friday will see the release of Consumer Price Index (CPI) data for the Eurozone. CPI captures the changes in price of goods and services. It is a key barometer as to the health of an economy so keep your eyes peeled as any move away from the -0.1% estimate could cause volatility in the market.

There is also the Trade Balance figures to be released on Friday. It is the balance between imports and exports of total goods and services. A positive reading shows trade surplus and a negative value shows trade deficit. It can cause significant swings in Euro strength. I think we could see a drop in exports which would cause Euro weakness.

The reason behind my prediction is due to Mario Draghi’s recent statement. Mario Draghi is the head of the European Central Bank (ECB) and he has indicated that he feels the Euro is too strong and hindering trade. He has stated he is willing to lengthen the amount of time Quantitative Easing (QE) is in place and also the amount of funds pumped into the economy. QE is effectively launching cash into an economy in order to stimulate growth. This will almost guarantee Euro weakness in the coming months. If I was a Euro seller I would be moving quickly.

I do have several large GBP-EUR trades going through in the coming days that potentially I could tag new clients on to and achieve a very competitive rate. Please do get in touch if this is something of interest. I will guarantee to beat any bank or brokerage’s exchange rates.

I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements including your time scale and the levels you are hoping to obtain and I will notify you of  any significant movement.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.

Euro set for further strength overnight (Joshua Privett)

Today was an interesting day on the markets as multiple forces seemed to be acting on the Euro. 

GBP/EUR climbed for the first half of the day as it was announced the Eurozone will be stepping up the amount of quantitative easing into the European economy to €2.4 trillion.

Mario Draghi, the head of the European Central Bank, previously mentionned that it was no yet decided whether this emergency stimulus should be taken further. This marginal vote of confidence was enough to strengthen the Euro by more tha two cents against Sterling a few weeks ago. This sudden turnaround, however, only weakened the Euro by about a cent.

The reason the change in rates wasn’t like-for-like is because of data to be released overnight for the Chinese economy.

Since ‘Black Monday’ in August, everytime poor news emerges on the Chinese economy,the Euro gains an artificial boost. With China accounting for almost 40% of the world’s economic growth, any indications of a slowdown causes panic on the stock markets. The result is that investors sell-off shares, and repeatedly they have stored their capital in Euros due to its relative cheapness on the markets compared to safe-haven currencies such as Sterling and the USD.

Markets have been obsessed with this data release all week, and all commentators are taking a morbid view of the outcome. Should this data come in as expected, we will likely get a repeat of the short-term bouts of Euro strength we have seen almost twice a month since August.

Anyone with Euros to sell I strongly rcommend contacting me overnight on jjp@currencies.co.uk for a free quote on your transfer and my opinion on how to maximise the Sterling figure you acheive.

Anyone who has been waiting for the best rate to sell their Euros may well be seeing the best time to sell them for the rest of 2015, as rates will likely be creeping up following the data release. Alternatively, call me in the morning from 830am before UK trading opens on 01494 787 478 and ask the reception for Joshua – quote this article to recieve commercial rates of exchange on your transfer.


Euro set to weaken in the short-term (Joshua Privett)

The Euro has been the most volatile currency on the markets in recent weeks. Firstly, due to the scandal over at Volkswagen, which saw GBP/EUR rates push up to 1.39, we saw Euro weakness. This was then followed by Euro strength, where money was artificially pumped into the Euro as a safe-haven currency after more bad news coming from China came to light. This occurred in similar fashion to Black Monday in August when rates moved down to 1.35/6, this most recent release Chinese economic conditions and stock-market slides has moved the Euro further up in value and now 1.34 is seen in the markets.

Since Friday there has been little data out to change this trend. Hence the more than 3 cent movement against the favour of Euro buyers this week.  Today this changed.

Inflation data for Germany was released for the September period and the results were alarmingly poor. Prices contracted by -0.3% last month alone, and new forecasts now put Germany on the brink of deflation for this year. This caused the Euro to weaken and rates have just moved back above 1.35 as I write this article.

I believe we can expect more of the same tomorrow. The effect of criminal behavior coming to light at Volkswagen on the currency markets has already proved how much German performance accounts for Euro value. As such, the inflation data for the Eurozone tomorrow will likely cause similar Euro weakness to compound the trend established on the markets today.

However, I believe this spike for GBP/EUR will be short-lived. On Thursday, further Chinese data will be released which commentators have been obsessing about in news coverage over the past few days. The tone of the coverage has been morbid, and should this data confirm fears of a continued showdown in China, the Euro will be strengthening from investors seeking a safe-haven currency to purchase. This has happened time and time again over the past two months and I’m confident in predicting a re-occurrence.

As such, tomorrow could present a brief window of opportunity for Euro buyers before GBP/EUR rates fall down to their current resistance levels at 1.34/5 again.

I strongly recommend that anyone with Euros to buy should contact me by calling 01494 787 478 and asking the reception for Joshua. You’ll be put through to the trading floor and we can discuss a strategy on how to maximize any moves in your favour. Limit orders can be placed where any Euros you require can be bought automatically, even if your desired rate is hit even few a few seconds, which happens regularly during these data releases. Alternatively, email me overnight on jjp@currencies.co.uk for an immediate response.

It’s very rare that such a clear indication on currency market movements are given, I would not waste this opportunity to both limit risk and profit from positive market movements.

Those with Euros to sell, feel free to contact me on to receive a free quote on your transfer. If you can move ahead of tomorrow I would, If not I can still help you should the predicted movement in your favour occur again on Thursday. We do offer a rate-beating service here to guarantee you get the most out of your Euros should you wish to make an exchange.





GBP/EUR set for further falls today (Joshua Privett)

The Euro gained significantly against Sterling once more on Friday, with GBP/EUR rates almost hitting 1.34 once more.

A few triggers contributed to this slide which benefited Euro sellers.

Mario Draghi, the head of the European Central Bank, restored a lot of confidence back to the single currency on Friday after a poor start to the week thanks to the scandal for mammoth German car manufacturer Volkswagen.

In a speech he stated that further Quantitative Easing for the Eurozone (essentially cash injections) was yet to be decided. Previously he had spoken of emergency financial stimulus in the future as a matter of ‘when’, not ‘if’. This change in tone injected a lot of confidence in the Eurozone economy, and the resulting Euro strength was was GBP/EUR rates fell so sharply in the afternoon.

The second reason for the fall in GBP/EUR was also Sterling weakness. This actually came from news in the US economy.

Janet Yellen, the head of the Federal Reserve Bank of America, gave guarantees of an interest rate hike in the US before Christmas.

Since the 2007/8 financial crisis, arguably the main determinant of any major currency’s value has been its timeline to raise interest rates once more. Now that Andy Haldane, one of the members of the Bank of England Monetary Policy Committee has come out saying that cuts could even be on the horizon for the UK economy, the USD became a more attractive currency to hold. As such, the mass Sterling sell-off into the USD has caused the Pound to weaken against most currency pairs.

This same trend could be set to continue today. The release of housing and private expenditure data for the US economy in the afternoon, regular strong performers, could cement the views expressed by Yellen should the data come in as expected. Any increase on the certainty of a rate hike in the US will likely continue the current sell-off of Sterling and lower GBP/EUR further.

With few data releases for the UK economy this week available to reverse this current slide, anyone with Euros to buy should be looking to move sooner rather than later. 

Get in touch with me by calling 01494 787 478 and asking the reception for Joshua to receive a free quote on your transfer and tailored advice on your situation. Quote this article to receive commercial rates of exchange on your transfer.

Rates can be pegged at their current levels for anyone who does not need to buy for a few months time to avoid further losses. Conversely, anyone with Euros to sell, email me on jjp@currencies.co.uk to discuss a strategy on how to ride this current move in your favour.



GBP/EUR incredibly volatile heading into the weekend (Joshua Privett)

GBP/EUR rates have been moving significantly this morning, with the final trend being a spike downwards towards the low-1.35’s as we enter the weekend and trading grinds to a halt.

The downward trend has been established for a sustained period now, with GBP/EUR being as high as 1.44 a few months ago. However, this particular spike may well be the bottom of the trend.

The reason for the spike is due to a return in confidence to the stock-markets following the disastrous effects of that the recent Volkswagen scandal has had on the European stock-market itself. The sell-off of European stocks this week and last were matched by a sell-off of Euros. Now that stocks have stabilized, with money flowing back into the market at the end of the week as investors look for cheap opportunities, the corollary is the opposite effect on the currency markets. The Euro is strengthening once more.

Rates are already moving back up as I type this, it is unlikely that we will know where rates will stabilize until Monday morning.

Those with Euros to sell and have had the ability to hold on over the past few months as rates eventually reached these lows may have just seen the peak and should be looking to move on this.

We have already hit this currency level this week and the rates have cannoned back up, we are already experiencing similar movements.

Those with Euros to buy should contact me over the weekend on jjp@currencies.co.uk to receive tailored advice on your situation on Monday as we receive more information on how high we can expect rates to move and discuss a strategy to avoid further losses.

Those with Euros to sell I strongly recommend that you do the same and I can provide a free quote on your transfer. Quote this article to receive commercial rates of exchange . I guarantee to beat any rates offered elsewhere to make sure you get the highest value for your Euros whilst the markets are favourable.