Tag Archives: the best deal on euros against the pound
If you need to buy Euros with pounds we currently have the best rates since the beginning of March on offer thanks to some uncertainty over Eurozone economic policy and a much stronger pound. After two months of the Leave camp appearing to have swung sentiment, the Remain camp is now firmly in the running with a raft of arguments to support their cause. This all goes to show how unpredictable the markets can be and how sensible it is to make plans in advance as things can change very quickly. It seemed only very recently that the rates were going to drop below 1.20 and now we are looking at a rise to 1.30!
Euro rates up to the Referendum
Between now and June I think there could be some further big unexpected swings on sterling to euro exchange rates and at the very extreme would predict swings of between 1.20 and 1.35. This is taking into account the very worst and best expectations of sterling performance. Such big movements will have a big impact on financial markets and the amount of currency you receive. Whilst it might be tempting to look on this as a great opportunity and of course it is and could be, you should also look at the downside too. Assuming a Remain vote and hanging on for the rate to go above 1.31 for your European house purchase is great but if it is a Leave vote and rates drop to 1.15 will you be able to afford the house?
Two key orders in such a market are the Stop Loss order which guarantees you won’t get a worse rate if rates start to plummet. So for example you might set a Stop Loss at 1.22 buying Euros currently. A Limit is the other which guarantees you a higher price if rates rise above a certain level. So a popular GBPEUR Limit order to buy Euros is 1.30.
If you are looking to buy or sell Euros at a better rate than is currently achievable you really should be plans on how you will achieve this. Understanding the market and all of your options in advance gives you the best possible chance to trade at a better level. If you wish to discuss your situation please email me Jonathan Watson on email@example.com. There is no cost or charge for my services, any introductory information is provided completely free of charge and at no obligation so you have nothing to lose from getting in touch.
Euro rates after the Referendum
Of course how Euro rates perform post the Referendum will come down to the outcome of the Referendum. Most assessments focus on sterling weakness on a Leave vote which might see GBPEUR slip to 1.20 and below. I wouldn’t rule out a continued slide on the pound with some forecasts predicting sub 1.20 even in the teens. A Remain vote should see the pound rise with GBPEUR above 1.30 with a possible move over the days and weeks to 1.40 not out of the question.
My experience on exchange rates tells me to expect and highlight the unexpected. It might be that the Euro is actually weakened from a Leave vote. The Euro has relied on lots of overseas investment in recent years which might easily be unwound as we have seen in recent years on the back of the Greek crisis. Could the result of a Leave vote trigger a constitutional crisis in the EU which would expose other wounds? The problems with Greece are far from resolved and it might be that a Leave vote is actually very damaging for the Eurozone and the Euro.
Conversely a Remain vote might not be all sunshine and smiles for the GBPEUR rate. The UK economy has been confirmed to be growing at a very slow pace this year because of the uncertainty over the Referendum. Businesses and private clients are refraining from big decisions such as hiring new workers and investing in their business or property until after the Referendum. This has dented economic activity and is putting further pressure on the economy. A Remain vote is also an implicit agreement to carry on with the (amended) EU relationship which may not be in the UK’s best interests. Perhaps the Leave camp are right and the EU is no longer fit for purpose and the UK being entwined will suffer longer term.
As you can see there are lots of ifs, buts and maybes. I can speak from experience looking after both private client and business transfers for the last 8 years that big events such as this move markets. The Scottish Referendum and the last two General Elections all saw big swings in the weeks leading up to the events. This Referendum is much more important and none of the predictions above could be completely ruled out.
For more information on how to protect yourself and plan a currency purchase in this clearly volatile period please email me Jonathan Watson on firstname.lastname@example.org
Jonathan Watson is Associate Director at one of the UK’s leading foreign exchange brokers and offers a wealth of knowledge on the currency markets having worked as a currency broker for over 8 years – offering his expertise to both individual and corporate clients on a daily basis. Jonathan’s comments have recently featured in The Telegraph and he has also appeared on BBC News discussing the EU Referendum.
The recent Eurozone economic data was actually better than expected with Inflation rising to 0.0% which is much better than previous deflationary figure of -0.1%. Does this means that the single currency is out of the woods? Well for the time being the pressure is absolutely off the European Central Bank who had been the target of the markets owing to poor economic data and worries over deflation. The ECB has made some major moves to weaken the Euro which have actually ended up strengthening the Euro conversely! The idea was that extra Quantitative Easing and a reduction in interest rates would increase economic activity and boost Inflation, the economic measures were also designed to weaken the Euro which would also help boost economic growth and increase inflation.
Expectations now focus on the ECB Meeting next week which I would suspect will provide Euro sellers with better news, if you are looking to buy or sell the pound with Euros then Wednesday is also the release of UK Unemployment data which should provide some movement as this is a very important release. If you need to buy or sell the Euro then making some plans in advance of any decision is in my opinion the best way forward.
For the latest news and information on securing the best exchange rates please speak to me Jonathan by emailing email@example.com
Its now clear that the ‘Brexit’ has started to weigh down on the Pound as GBPEUR exchange rates have dropped over 6 cents since David Cameron announced the UK would hold a referendum in regards to EU membership.
This trend is set to continue up until June 23rd therefore if you have euros to buy trading sooner rather than later may be wise, where as if you are selling Euros to buy Sterling holding off for an extra cent or two could pay off.
If you are looking to buy or sell Euros this year (especially before June 23rd), the currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales. Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on firstname.lastname@example.org.
The more information you provide me, the more information I can provide you. Below is a list of what I require: your name, currency pair, brief description of requirement, amount, budget, timescales, telephone number and convenient time to call.
If you are buying or selling Euros this year or especially before June 23rd I would seriously be considering your position.
The UK’s referendum is now in full swing and therefore we expect GBPEUR exchange rates to continue to slide up until June 23rd. My prediction is for GBPEUR to be fluctuating between 1.18 and 1.22 come June 23rd.
If the UK were to leave the EU many of the leading banks such as Lloyds and HSBC have predicted rates will fall to parity however I believe 1.10 is more likely. Where as if the UK were to remain a part of the European Union I predict rates will increase back towards 1.30.
Many of my clients want to buy Euros now however do not have all of their funds available, we can still help. A forward contract allows clients to lock into todays exchange rates however they pay later for it. All we require is a small deposit.
Data releases to look out for this week are:
- German Inflation numbers Wednesday morning
- UK GDP numbers Thursday morning
- German Unemployment rate Thursday morning
The currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales within the Eurozone. Therefore if you are buying or selling a property in Europe this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on email@example.com. The more information you provide me, the more information I can provide you, below is a list of what I require: your name, brief description of requirement (buying a house in France), amount in Euros, budgets, timescales, telephone number and convenient time to call.
PLEASE NOTE DUE TO THE MARKETS BEING CLOSED FOR THE BANK HOLIDAY I AM NOT IN THE OFFICE UNTIL TUESDAY MORNING. HAVE A GREAT EASTER BREAK AND I LOOK FORWARD TO SPEAKING WITH YOU THEN.
Last week the Pound gained over 3 cents against the Euro and I put this movement down to investors selling off their Euros for the cheaper Pound we are presently seeing, and the anticipation that Mario Draghi could increase the Quantitative Easing program on Thursday.
Inflation has been a worry for the European Central Bank for many years and the ECB intervened last year (March 2015) by implementing quantitative easing (Q.E). Q.E is where the central bank increases the money supply entering the economy.
If Draghi increases Q.E I believe GBEUR will break through 1.30 and will finish the week in the 1.32s. However its more likely that Draghi will keep his cards close to his chest and this leads to Euro strength and GBPEUR finishes the week in the 1.27.
If you are buying or selling Euros this year, I can give you economic information to help you time your transfer and can also offer you a better exchange rate than what you would receive with your bank and other brokerages. This can be anywhere between 1-5%. My direct email is firstname.lastname@example.org Dayle Littlejohn. Alternatively call me Monday morning on 0044 1494 787 478 and ask to be put through to Dayle Littlejohn.
If you are already using a brokerage I recommend emailing me with the exact figures and I will give you our live price so you can make a comparison. This will take you 2 minutes but could save you a considerable amount of money.