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Tag Archives: gbp/eur exchange rates

Pound to Euro rate hits a 6-week high vs the Euro as inflation levels soar in the UK, will GBP/EUR continue to climb? (Joseph Wright)

The inflation level in the UK rose unexpectedly in August and as a result we’ve seen the pound climb quite dramatically.

The Pound rose against all major currency pairs with the main headlines to take away from today’s price movement being GBP to EUR has hit a 6-week high whilst GBP to USD (cable) has hit a 1-year high.

Economists were expecting to see the inflation level for August released at 2.8% but the figure came out at 2.9% which equals the highest level on record this year as May also showed this figure.

The reason the Pound has climbed in the wake of this result can be put down to hopes of an interest rate hike from the Bank of England sooner than their plans of a hike in 2019. Under normal market conditions an interest rate hike usually results in a strengthening of the underlying currency which has been reflected in today’s GBP exchange rate price movements.

The next busy day for the Pound is likely to be Thursday, and if you would like to discuss why and what data is due out that could impact the GBP/EUR rate, do feel free to register your interest with me.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

GBP to EUR rate drops despite positive news for the Pound, is this a sign? (Joseph Wright)

The Pound to Euro exchange rate crucially hit a new 8-year low today, after hitting 1.0898 at one stage during today’s session.

This is despite some positive news for the UK economy as today it was announced that UK public finances showed a surprise surplus of £184m in July, which is the first time the figure has been in the black (in July) since 2002, with many expecting the figure to show a deficit.

Despite this the Pound has still fallen and at the time of writing the GBP to EUR pair are trading just over the 1.09 mark. We’re still awaiting the 5 Brexit papers which will provide us with an overview of the Brexit plan and I think that this could move the GBP/EUR pair if the news is particularly positive or negative.

On Thursday there will be the release of UK GDP figures at 9.30am for the month of July, the expectation is for 1.7% so again expect any deviations from this figure to result in movement between the pair.

If you are planning a currency exchange and would like to be kept updated regarding any short-term price movements, do feel free to register your interest with me.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Best rates to sell Euros into Pounds in 2017 (Tom Holian)

The Euro has got to its best level to buy Pounds since November as the Pound has continued to weaken owing to the uncertainty of what is happening in both UK government and the Brexit negotiations.

The Tories have finally come to an agreement with the DUP but this has done little to help the Pound as we continue to see GBPEUR exchange rates struggle.

Yesterday Bank of England Governor Mark Carney has called upon British banks to raise their capital requirements in order to avoid the risks of a downside to the market. The figure is as high as £11bn which has caused a bit of concern for the sector and this has resulted in a fall for the Pound.

The Pound also fell against the Euro after European Central President Mario Draghi hinted that an interest rate hike in Europe may be coming at some point in the future.

He has suggested that growth in the Eurozone is not as dependent on as much stimulus used previously which means he could be looking at also reducing the taper that is happening every month.

Consumer and Business Confidence data in both Germany and Italy have also come out better than expected and if other countries within the Eurozone reflect the same tone then this could strengthen the Euro further against the Pound.

Overall, I think we’ll see further losses for Sterling vs the Euro in the short term as we are still politically unstable and we don’t know what will happen next with the Brexit talks.

Having worked in the foreign exchange industry since 2003 I am confident not only of being able to offer you better exchange rates than using your own bank as well as helping you with the timing of your transfer.

If you need to buy or sell Euros and would like further information or a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Pound to Euro rate unmoved despite Conservative and DUP agreement, what other factors could impact the GBP/EUR rate? (Joseph Wright)

Yesterday the Conservatives and the Democratic Unionist Party (DUP) of Northern Ireland finally agreed on a deal, even if it’s come at a major cost for May’s Conservative government.

The figure is rumored to be around £1bn which will allow Northern Ireland to invest in infrastructure and the NHS after years of heavy spending in its defense sector.

Financial markets remained unchanged as many had expected the agreement to take place, but I think we could have seen the Pound sold off had the figure exceeded expectations.

Last week we saw movement within Sterling exchange rates after being given mixed signals from the Bank of England regarding the expected interest rate changes. It appears that this topic along with how Brexit negotiations pan out after beginning last week will continue to drive the Pound to Euro exchange rate.

Later this week UK GDP figures will be released which could create further movement for Sterling exchange rates, as the pair have been trading within a thin range for a number of days now.

If you would like to be kept updated regarding any major movements for the GBP/EUR pair do feel free to register your interest with me.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Best rate to buy Euros with Pounds since November (Tom Holian)

The Euro vs the Pound is now at its best exchange rate to buy Pounds since November last year as the UK political landscape remains uncertain.

At the time of writing Prime Minister Theresa May has still yet to form a majority government although the likelihood is that this will happen soon as a potential deal with the DUP is reached.

It took 20 days previously when a hung parliament happened for the Lib Dems and the Tories to form a coalition and we are currently in the same state of limbo which is negatively impacting the Pound.

UK inflation has risen recently to 2.9% from 2% which is way above the Bank of England’s target and the reason why there was a 5-3 split in favour of keeping interest rates on hold. For months we have only seen 1 of the members vote for a rate hike so to see this change to 3 is a big surprise.

However, Governor of the Bank of England Mark Carney spoke yesterday to strongly suggest that there will be no rate change coming as the Brexit is likely to make people poorer and now is not the time to be raising interest rates which in turn would increase the cost of living.

This has caused the Pound to fall further against the Euro sending GBPEUR exchange rates to their lowest point in over 7 months.

The Brexit negotiations have also started and things do not appear to be going very well so far and in my opinion I think the talks will become difficult and protracted which is likely to cause problems for the Pound vs the Euro in the future.

Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident that I can save you money when buying or selling Euros compared to using your own bank.

For a free quote or further information please email me directly and I look forward to hearing form you.

Tom Holian teh@currencies.co.uk

 

 

Sterling drops as key UK figureheads make dovish comments at Mansion House speech, will Sterling continue to drop?

The Pound has dropped across the board this morning as one of the most important figures within the UK economy, Mark Carney (the governor of the Bank of England) has suggested that interest rates shouldn’t rise yet.

The Pound is now trading at a 1-week low after these comments, as Carney said that Britain isn’t ready for higher rates. His comments would have shocked the markets as many would have been expecting to see a rate hike within the UK after almost half of the voting members of the BoE just last week voted in favour of raising interest rates.

Carney said that it wouldn’t be right to change rates whilst we don’t know the outcome of Brexit negotiations.

The reason behind the Pound dropping in light of these comments, as well as some similarly dovish comments by Phillip Hammond (Britain’s Chancellor of the Exchequer), is that a rate hike would most likely give the Pound a boost which is why the Pound climbed last week after the BoE’s voting decision.

There isn’t much further data out this week for the Pound specifically, so I expect sentiment to continue to drive rates.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Sterling to Euro rate jumps after BoE rate decision, will Sterling continue to climb? (Joseph Wright)

The Pound jumped at 12pm this afternoon, making the rate for buying Euros much cheaper for our clients in just a matter of seconds.

Financial markets were expecting to see all members of the Bank of England’s monetary policy committee vote in favour of keeping rates on hold, but got a shock when almost half voted in favour of rising rates.

At the time of writing our clients are able to book Pound to Euro rates that are over 1-cent higher than the lowest level seen today after the Pound has managed to hold onto its gains after the decision.

The reasoning behind some of the voting members decision to raise rates is most likely due to the raising rates of inflation, which are now almost 1% above the BoE’s target of 2%.

The BoE is likely to have to raise the base rate of interest in order to counter the negative effects of inflation within the UK, especially as the rate of wage growth is declining which will leave investors with a lot less spending power.

Moving forward I think that those with a GBP/EUR currency requirement should keep an eye on inflation rates, and feel free to keep in contact with us regarding the rate and also the dates that the data is released.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

Will GBPEUR rise or fall on the upcoming data?

I believe that the pound to Euro exchange rate will remain at risk of a move lower and higher in the short term as we await some firmer news on who the UK Government will be and also how this will influence Brexit. Overnight we have the latest US Federal Reserve Interest rate decision which is going to be vital to the movements on GBPEUR for the rest of this week and possibly into next week. If you have a transfer to buy or sell pounds and Euros then making some plans in advance is sensible to try and mitigate the uncertainty.

Clients looking to buy the pound are being faced with an exciting prospect as euro to pound exchange rates have this week hit close to a 6 month high. The improvements in the market might not last too long as we get closer and closer to finding out just what kind of government the UK has. Assuming a Theresa May and DUP majority I would not be surprised to see the pound rise. Jeremy Corbyn is apparently ready to launch his own program with the Labour party but this might not actually in the end come to fruition.

The Euro is performing well although the latest Eurogroup meeting concerning Greece is scheduled to take place this week which could raise some eyebrows, overall however I do expect the political uncertainty in the UK to outweigh the problems in the Eurozone. If you have a transfer to make GBPEUR is very volatile and we have a number of events which could see the short term direction move quickly higher or lower.

The overriding trend which has seen GBPEUR move from almost 1.20 to 1.13 does still however seem to be the principal driver and so if selling Euros for pounds the market is very much for you. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk. Thank you for reading and I look forward to hearing from you.

How could tomorrow’s general election impact the Pound to Euro exchange rate? (Joseph Wright)

There could be a lot of movement within the Pound to Euro exchange rate tomorrow, as the results from today’s voting will be released most likely in the early hours of this morning.

Many are expecting to see the Conservatives win a majority and this is why we’ve seen the Pound climb during today’s trading session. The Pound had been under pressure as the election race has got a lot closer recently after looking like a foregone conclusion at times.

Despite these expectations I think there’s a number of potential outcomes and I wouldn’t be surprised to see the markets react to the result in a way that many are not expecting. For example, if Labour win there could be a much ‘softer brexit’ which up until this year would have been considered a good thing, which could result in a boost to the Pounds value.

This is an alternative outcome as many are expecting the Pound to fall if the Conservatives don’t win an outright majority.

During times of market volatility such as this it can be a good idea to set up a Limit Order to try and trade at higher levels, if you would like to discuss this further do feel free to get in touch.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

What can we expect on the pound to Euro rate in the coming weeks?

The big news on the pound to Euro rate will be the likelihood of the a strong election victory for Theresa May. This was being priced in as soon as the election was announced back in April when sterling rose against the Euro. We then saw GBPEUR rise even further to almost 1.20 on the potential of a Le Pen victory but all was not to be realised and since then the rate has been on a steady decline. I am now being asked by clients buying Euros when will rates go back to 1.20? Well as we have written extensively on this website any challenges to 1.20 are highly likely to ultimately prove unsuccessful as market concerns over the Brexit remain. If you have a transfer buying or selling Euros the next few weeks will be critical to getting the best rate and managing the timing is essential.

Looking at the Euro, it is much stronger in the last few weeks as we find the latest political uncertainty is removed and attention switches back to the positive news. The Eurozone economy is performing much better and there is talk of the QE (Quantitative Easing) that has been in place being discontinued. QE is essentially providing extra funding to banks which stimulates the economy and weakens the economy. Conversely the removal of this measure will see the Euro stronger.

If you are buying Euros with pounds it might be tempting to hang on waiting for the pound to rise further against the Euro. Expecting the pound to just rise dramatically after the election could be a very risky strategy. The pound is already faring well against most currencies but the euro is stronger. Just waiting for improvements could end up being a very costly mistake which many clients buying currency can easily fall into.

For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk with an outline of your position and any information to help us assess your position.

Thank you for reading and I look forward to hearing from you.