Friday, 8 December 2017

GBP/EUR reaches a 6 month high to then fall away heavily in the afternoon session

Those of you that were in a position to act swiftly managed to catch sterling at its highest level against the single currency in nearly 6 months this morning. For the first time since June the pound pushed over 1.15 but these levels were not to last. In fact by the close the pound had fallen by over 1% to reach 1.1360.

Initial signs were  good this morning following news that Theresa May had struck a last minute deal with the EU in a bid to move Brexit talks onto the next phase. There will be no "hard border" with Ireland, and the rights of the EU citizens in the UK and UK citizens in the EU will be protected. Its so called "divorce bill" will amount to between £35 and £39bn - less than the £50bn as speculated a week or so back but still enough to push the pound through 1.15.

As mentioned, however, these gains did not last and anyone hoping for a push towards 1.16 will have been mightily disappointed. For me this see-saw effect is a trend that will continue and for this reason should you have a future transfer to arrange it is key to get yourself in the best position to take advantage of a spike. By utilising the services of a specialist foreign exchange broker we can be your eyes and ears on the market to help you with the timing of your international money transfer.

Tuesday, 5 December 2017

Australian Dollar rallies overnight

The Australian Dollar gained more than two cents against the pound following the Reserve Bank of Australia's (RBA) latest interest rate meeting.

As expected the central bank decided to keep the base rate on hold , but a far more optimistic outlook from the policymakers regarding wage growth, helped push the Australian Dollar significantly higher during the Asian session.

We are still seeing some strong buying levels for those looking to secure AUD, particularly the GBP/AUD pairing. Prior to the RBA meeting the pound was at its strongest level in over a year topping 1.78 - we are now back in the 1.75's again highlighting how volatile the pairing is currently.

Should you have an upcoming international money transfer to arrange and you would like more information on the full range of currency services we provide then please get in touch. As specialist foreign exchange brokers we have access to commercial banking levels enabling us to significantly undercut the high street banks.

To find out what rate we can offer, click here to make a free enquiry. It doesn't cost anything and there is no obligation - the saving to you could be significant.

Monday, 4 December 2017

Brexit talks cause volatility for the Pound.

It's been an interesting Monday for the Pound, with exchange rates proving to be very volatile due to Brexit talks and rumours of a deal. This morning, there was talk that a deal was going to be announced, and Sterling/Euro shot up to €1.1420 as a result.

Then this afternoon, news broke that actually a deal would not be announced today, and down the Pound went. It's stabilised a little now, with GBP/EUR currently at around €1.1350.

Click here to see live currency charts  

Sterling is incredibly susceptible to any rumours and news about Brexit at the moment. Anything that hints or suggests that trade talks will start soon is sending the Pound higher against other currencies. Any news that casts any doubt on the progress of the talks will send the Pound lower again. As you can see from the GBP/EUR chart below, this is creating quite a choppy market for the Pound:

With a key EU summit coming up later this morning, I think that the Pound will remain very volatile in the short term. As the chart above shows, this is creating some good opportunities for those that need to convert funds, and this is where having a good currency broker on your side can help.

We don't just offer market commentary, we also offer very competitive rates of exchange that can save you thousands when converting large sums. If you need to convert currency in the coming weeks and would like to know if the Pound will rise or fall, then we can help keep you up to speed with what's happening.

To find out what rate we can offer, click here to make a free enquiry. It doesn't cost anything, there is no obligation - find out how much you could save today.

Thursday, 30 November 2017

Sterling hits a 13 month high against the Australian Dollar

Sterling exchange rates have rallied overnight to reach a 13 month high against the Australian Dollar (AUD). The move has been even more significant against the New Zealand Dollar (NZD) with the pound now sitting at its highest level since August 2016.

Sterling has now gained over 5% against both these currencies in a relatively short window creating some strong buying opportunities.

These gains have come following yesterdays announcement that the UK divorce settlement for Brexit could be as much as £50bn, considerably higher than figures of £18bn discussed earlier this year.

Although the Prime Minister Theresa May downplayed these figures it was a much needed shot in the arm for the pound which also reached a two month against the US dollar.

Should you need to make an international money exchange and you would like to take advantage of the recent spike for the pound then please get in touch. As a specialist foreign exchange broker we have multiple contracts available to help clients safeguard their currency and avoid costly market fluctuations.

For more information please make a free enquiry by clicking here

Wednesday, 29 November 2017

Pound rises1.5% against Euro, but will the gains last?

Following on from my post yesterday evening, the Pound has risen further against both the Euro and US Dollar, to €1.13 and $1.34 respectively.

As I mentioned in my post last night, the gains are due to reports that the UK will pay a 'divorce' bill to the EU of €50bn.

It could be argued that with the UK blinking yet again without the EU making any concessions, it does not bode well for future negotiations. However in terms of market reaction, the Pound has gained as it is now more likely that trade negotiations will begin in December.

For those that need to convert Sterling to Euros or other currencies, then it's worth considering taking advantage of these gains. Only a few months ago the rate was as low as €1.07, and this makes a huge difference when converting a large sum.

Purchasing a €150,000 property in France or Spain today is £7500.00 cheaper than a few months ago due to the gains in the Pound. When you look at the last 8 months you can see the rate has reached these levels several times, before dropping back again each time.

While there is no way to know if that trend will be repeated again, I think that there is more chance of rates slipping back again than shooting up to €1.15.

If you need to perform a currency exchange and are looking for the very best rates of exchange, contact us today to find out more about the rates and services we offer. Typically our rates are 3% better than your bank would offer, and we usually have no problem offering better rates than other currency brokers.

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