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Tag Archives: selling euros

Will GBEPUR remain above 1.10?

The pound to Euro rate has risen against the lines of expectation as we witness the UK Inflation level rising which puts pressure on the Bank of England to raise interest rates. Personally I do no think that the BoE will actually raise rates and tomorrow’s Interest rate decision meeting will be crucial to understanding the likelihood of this happening.

All in all there is an expectation that Inflation will continue to rise and this should put pressure on the Bank to raise interest rates, however I do believe the Bank should be more cautious in their approach since raising interest rates will only pile further pressures on the economy in the longer term. I believe at some point this reality will hit home and the pound will fall back down below 1.10 against the Euro.

It will not just be the weak pound which causes issues the euro is itself very strong. So for example the German election on 24th September is likely to make buying Euros even more expensive as Angela Merkel seeks to establish her and continue her role as the Chancellor of the Eurozone’s powerhouse.

If you need to buy Euros with pounds I think current levels represent a very good opportunity in the short term, many analysts are still predicting that rates could fall below parity and I really would be acting with great care if assuming this will not be the case.

For  more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw@currencies.co.uk a brief overview of your position and we can let you know some strategies to help maximise your transaction.

Than you for reading and I look forward to hearing from you and assisting in the future.

Euro begins to rise as markets await ECB meeting, will the ECB taper its stimulus programme today? (Joseph Wright)

The Pound is losing some ground this morning as financial markets await the ECB’s meeting later this afternoon.

It will begin at 12.45pm UK time and many are predicting that Mario Draghi may announce tapering plans today. This would be considered a positive for the Euro and I would personally expect to see the EUR to GBP rate improve if this plan is announced.

On the other hand, those hoping for a stronger Pound should keep an eye on what’s said by Draghi as if the subject isn’t touched on, on Draghi suggests that there are no short term plans to taper the current quantitative easing programme I think we can expect to see the Pound climb.

Yesterday morning there was some disappointing data out for the UK as services sector PMI came out below expectations and hit a 11-month low. This sector is very important for the UK as it covers roughly around 80% of the UK economy.

If you would like to be kept updated regarding any short term price movements between the pair in question 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.

Sterling Tumbles As Euro Strength Increases (Ben Fletcher)

Today has seen the GBP/EUR rate fall to the lowest level in 8 years, taking us back to just after the financial crisis. This was mainly down to the record breaking Purchasing Managers Index in data coupled with the Eurozone’s reading. What is becoming apparent is there is considerable optimism for the Euro and investors are investing their funds aggressively in the single market currency.

Working for the brokerage Foreign Currency Direct, many of my clients will ask if the rate is going to continue to fall and in short I believe the answer is yes. There has been a major downward trend for the GBP/EUR rate over the past month and whilst I think parity is unlikely there could be a few more cents to drop.

Mario Draghi who is the President of the European Central Bank will speak on Friday and could well be set to acknowledge the Euros strength. If he then goes on to suggest the current quantitative easing measures in the Eurozone could be reduced, there could be major optimism for the Euro.

The one risk to all this Euro strength is that it could have a longer term effect on the EU economy. If the GBP/EUR rate does remain at this level then the amount of Brits going to Europe next year will decrease, there will be significantly less tourism whilst there could be a influx of tourists to the UK boosting the economy. Some of these consequences could eventually be felt by the Eurozone and the ECB might be wary to try and reduce the Euro strength.

If you do have a question with regards to my forecast please get in touch. When you come to moving large sums of money a movement of a cent can often relate to a significant difference in your returns. Helping you formulate a strategy could make sure you’re in the best position to exchange currency when the market is in your favor, please contact me at brf@currencies.co.uk

Pound Euro Rates Clim Higher ahead of UM Inflation Hearings

Sterling exchange rates remain on the back foot as British uncertainties continue to drag the pound lower. The pound is making some headway this morning ahead of the UK inflation report hearings which could result in additional market movement for the pound. GBP EUR has picked up marginally after a terrible start to the week with rates for this pair sitting at 1.1088. Clients selling Euros are seeing an excellent opportunity to sell at this point and would be wise to consider loving sooner rather than later to take advantage of these higher levels.

Any suggestion that inflation will remain an issue for the British economy could still push the Bank of England towards raising interest rates. A higher projection for the future today could help support the pound although any rate hike would only realistically be expected at the end of this year or early next year.

As such any potential gains are likely to be limited considering all the other factors that Britain is faced with currently. The change in politics after the UK general election where Prime Minister Theresa May lost her working majority in the House of Commons coupled with the ongoing uncertainty surrounding Brexit are the two biggest negative drivers for the pound.

With tensions escalating at the nuclear level between the US and North Korea there may be considerable market volatility for all of the major currencies. Any attack from North Korea on the island of Guam may warrant an extreme response from the US. President Donal Trump has said overnight that any attack from North Korea would be met with fire and fury the likes have never been seen before. Both the Pound and the Euro may see considerable market movement on any developments here.

If you would like further information on Pound Euro Exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

GBP EUR Exchange Rates Ahead of Vote on Queens Speech (James Lovick)

The pound is on the up against the Euro after Bank of England Governor Mark Carney stated yesterday at the ECB Forum in Sintra, Portugal that “some removal of monetary stimulus may become necessary”. This was a bold statement from and it would suggest that we could see a shift in policy as soon as the August meeting. We could be talking about a 0.25% interest rate increase which should help drive the pound higher if we are at a key turning point. Clients selling Euros for pounds should get their skates on and look at moving sooner rather than later.

Todays has the potential to be major market mover for sterling exchange rates. GBP EUR in particular could see a good rally once the vote on the Queens speech has gone through today. The amendment to the Queens Speech on public sector pay put forward by Labour did not go through last night and this was the first hurdle for Prime Minister Theresa May.

My view is that the pound should be able to move higher once this Queens Speech is out of the way as it should bring some much needed stability to the country. Of course if the speech was voted down then this would be a disaster for the pound with substantial losses to be expected. As things stand the vote should go through later today.

The Euro saw considerable volatility yesterday as the European Central Bank was forced to make a statement saying that the markets had misjudged Mario Draghi’s comments earlier in the week. On Tuesday the Euro made considerable gains against all of the major currencies whilst reaching its highest level against the US dollar before retreating after the statement was made.

If you would like further information on sterling exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on jll@currencies.co.uk

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.

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.

Election result weakens the Pound vs the Euro (Tom Holian)

In what has been a very interesting last few days we now know the results of the general election with the Tories the largest party but not being able to secure a majority government.

This means that they will look towards the DUP to provide enough seats to from a government and this looks like the most obvious and clear resolution.

Indeed, on Thursday night one of the members did even strongly suggest that they would be willing to form an agreement in the event of a hung parliament.

In what has been termed by many as a disaster for Theresa May there have been a number of calls for her to step down as Prime Minister but if she were to do this it could cause big problems for the Pound as it would throw up even more uncertainty for the UK and therefore Sterling vs Euro exchange rates.

As we now know it will be the Tories who will lead us forward in a another term and this means that the Brexit negotiations which are due to start on June 19th will be able to begin.

As we have already seen earlier this year the talks are not going to be straightforward and in my opinion I think they will be protracted and difficult.

Many of the European leaders have already spoken out against Brexit and therefore I cannot see how the talks will go well for the UK.

With this in mind this is why I think the Pound will continue to struggle against the Euro.

If you have a currency transfer to make and would like to save money on exchange rates when buying or sling Euros compared to using your own bank then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

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.