Thank you, you should receieve a reply shortly.
Submit your details above and we will contact you with a competitive exchange rate from an FCA-regulated specialist
  • Pound up after sterling May speech

    23 January 2017

    It was an exciting and action-packed last week for investors and traders alike, not only here in the UK but also across the pond.

  • Attention turns to the Bank of England today

    03 November 2016

    Yesterday was a relatively quiet day in the way of data, the morning posted a positive October figure of 53.5 for EUR Markit Manufacturing PMI...

  • Euro rates through 2015

    02 December 2015

    The year of 2015 has been extremely volatile for the sterling - euro currency pair exchange rates. At the start of the year, in January, one Pound was worth just over 1.27 Euros - 14 cents lower than now as we head into the last month of the year.

Currency Market News

Our blog is below, to help you understand what's moving currency rates and affecting the cost of your international payments. For some friendly guidance on your own transactions, either for your business or yourself, simply fill in the form above and an FCA-regulated currency broker will be in touch to assist you, without any cost or obligation.

Back to News
Currency News Update
02 July 2012

Regular readers will be unsurprised that the Eurozone once again dominated currency headlines last week. The EU summit produced a surprise deal in the early hours of Friday morning, meaning emergency European funds can now be injected directly into ailing banks and bond markets, rather than passing through central governments. This was seen as a victory for Spain and Italy over Germany, and a step towards common banking policy in the Eurozone, a move which Chancellor Merkel had been reluctant to accept.

The result by Friday morning was that the Euro posted its biggest single day increase in price for 8 months, with the see-saw effect giving a weaker US Dollar and better exchange rates for money transfers to the USA.

Since Friday, the knee-jerk reaction has been replaced by a little more calm in the markets, although Euro rates are still below Thursday's peak, and are falling slightly today.

The 'commodity currencies' also benefited last week, with exchange rates for the Australian Dollar, New Zealand Dollar and South African Rand all falling (2%, 1.7% and 3.5% respectively).

Looking forward to this week, the main news for the Pound is likely to be Thursday's monthly Bank of England meeting. Last month, the Bank voted narrowly not to extend Quantitative Easing, and speculation is rife that it will be extended this week, specially given lower inflation figures in June which will allow the Bank some more room to manoeuvre. QE has, in all previous rounds, hurt sterling and reduced exchange rates significantly, so to avoid the risk of falling rates, do consider fixing your exchange rate before Thursday's announcement. The move may be priced in somewhat to the market already, but we will not know until after the event what the effect on rates will have been.

UK GDP was also revised further down last week, confirming the double-dip recession, and with growth possibly still negative for the second quarter of the year, prospects for significant improvement in exchange rates seem some way off.

Another story is the Conservatives' decision to start a debate about a possible EU referendum in the UK - although a long way off, if this garners public support, what will the effect be on the Pound?

Bookmark and Share