Thursday, 23 April 2015

GBP/USD exchange rates continue to rise.

Good afternoon,

Despite some weaker than forecast retail figures from the UK this morning the pound was able to continue its resurgence against the dollar, with the GBP/USD cross climbing to a high of $1.5057 during todays session.

For a free currency consultation click here.

GBP/USD graph 23/04/2015


The pound got off to a bad start this morning following the release of the latest UK retail figures. The sector had been expected to grow by 0.4% in March but with sales dropping by 0.5% the pound lost ground across the board.

The news wiped out most of the gains Sterling had made against the dollar yesterday pushing exchange rates back below $1.50, however it turned out to be a temporary slump with GBP/USD back towards a fresh one month high by mid-afternoon.

So why did the GBP/USD cross rise?


The rise for Sterling/dollar this afternoon was down to events in the Eurozone. The dollar has benefitted hugely in recent months as the talk of a Greek exit and the European Central Banks Quantitative Easing programme has seen investors flock to the safe-haven dollar.

However, the dollar lost ground against a basket of currencies today as the euro gained momentum following some positive comments from German Chancellor Angela Merkel.

It was rumoured that Chancellor Merkel would tell the Greek Prime Minister today that she wanted to keep them in the Eurozone and avoid the troubled country defaulting on its payments.

These comments have given investors a glimmer of hope ahead Greece's crunch meeting tomorrow, where the Greek government will attempt to satisfy its creditors with its list of reforms which they hope will unlock their next bailout payment.

If Greece can come to some kind of arrangement with their creditors then we could see the dollar lose even more ground in the comings days and cement the pounds current position above $1.50.

GBP/USD best exchange rates


If you have a requirement to buy or sell dollar and want to ensure you are getting the best exchange rate for your transfer, use the link below to complete the contact form or call me directly on 0044 (0) 1442 892 065.

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Wednesday, 22 April 2015

GBP/USD exchange rates at highest level since Mid-March

Good morning.

I mentioned yesterday afternoon that GBP/USD exchange rates were pushing towards $1.50 and after the release of the Bank of England meeting minutes this morning, the currency pair has finally broken back through the $1.50 barrier.

For a free currency consultation click here.

The move so far this morning has seen the pound gain around a cent against the U.S dollar with the GBP/USD cross climbing from $1.4936 to $1.5046.

This is the highest we have seen GBP/USD exchange rates since the 11th March and means Sterling has now gained over 3% in the last nine days.

GBP/USD graph

GBP/USD graph

What did the Bank of England minutes show?


All nine Monetary Policy Committee (MPC) Members voted in favour of keeping the current benchmark interest rate at 0.5% and its Asset Purchasing Programme on hold for another month, this call as no major surprise and was widely anticipated.

However, all of the MPC members indicated that the next move from the central bank would be to increase interest rates.

This has given the pound a much needed boost, as only a few weeks ago there were some rumours floating around that the BoE were just as likely to cut interest rates in order to combat the UK's falling inflation figure.

Do you want the best exchange rates?


As a specialist currency broker I can help you make the very best of your currency requirement.

With a range of currency contracts available, not only can I help protect you against adverse market movements, I can help you achieve a rate of exchange up to 5% better than those offered by the high-street banks.

For more information on the different ways to buy or sell your currency or to find out what rate of exchange I can offer, use the link below to complete the contact form or call me directly on 0044 (0) 1442 892 065.

Click here to complete the contact form





Tuesday, 21 April 2015

GBP/USD exchange rates push back towards $1.50


Good afternoon,

Over the past week Sterling has continued to rise against the dollar pushing the GBP/USD cross back towards $1.50. During today's session alone the pound has gained over a cent with rates climbing from $1.4856 to $1.4959, which means GBP/USD has now risen by nearly four cents since the 13th April.

For a free currency consultation click here.

GBP/USD graph
GBP/USD graph


What does the recent move mean in monetary terms?


Four cents might sound like a small rise but it can make a big difference to your transfer. If you were looking to convert £200,000 today, you will now receive over $7,600 more compared to the same transfer on the 13th April. The move we have seen for the GBP/USD cross over the past week shows just how important it is to get the timing right on your transfer, as diving in headfirst without knowing what options are available could end up costing you thousands.

Why has the dollar's value dipped?


The last couple of weeks have not been the best for the U.S. economy as a string of disappointing data releases seem to have put pay to the Federal Reserve (FED) raising interest rates anytime soon. It seemed the FED were on course to hike rates in June but with production falling, exports suffering and a growing concern over wage growth and inflation, we might not see interest rates increased until the end of the year.

Best exchange rates


If you have an upcoming requirement to buy or sell dollars and want to make sure you are getting the best rate of exchange, use the link below to complete the contact form or call me directly on 0044 (0) 1442 892 065.

As a specialist currency broker I can achieve rates of exchange up to 5% better than those offered by the high-street banks, and with a range of currency contracts at my disposal I can look to reduce your exposure to the ever changing FX market.

Click here to complete the contact form.

Tuesday, 14 April 2015

GBP/USD exchange rates climb two cents

Good afternoon,

After falling to a fresh five year low against the dollar on Friday, the pound managed to claw back some ground during today's session after the U.S. posted some weaker than forecast economic numbers and the International Monetary Fund (IMF) cut the U.S growth forecast.

For a free currency consultation click here.

GBP/USD exchange rate graph 14/04/2015

Sterling/dollar exchange rates recover


Following today's events GBP/USD exchange rates rose almost two cents with the currency pair climbing from $1.4609 to $1.4797.

To put today's move into monetary terms, converting £200,000 into dollars will now see you receive nearly $4,000 more than first thing this morning. Once again it shows you how quickly things can change and how important it is to get the timing right on your transfer.

What caused today's move?


The dollar's drop in value can be put down to two main factors today. Firstly the Core Retail month on month figures and Producer Price Index (PPI) numbers both failed to meet the predicted level.

The retail figures are the primary gauge of consumer spending, while the PPI numbers are a leading indicator of inflation and with the Federal Reserve looking for inflation to climb before raising interest rates today's numbers could have impacted investor confidence.

Just after the release of the Eco-stats the IMF announced they were cutting the U.S. growth forecast to 3.1% for 2015 and 2016. The announcement triggered a dollar sell-off, wiping out the gains the greenback made last week against the pound and euro.

Get in touch


If you have a requirement to buy or sell dollars in coming weeks and want to ensure you are making the most from your transfer, use the link below to complete the contact form or call me directly on 0044 (0) 1442 892 065.

Click here to complete the contact form

Thursday, 9 April 2015

GBP/USD exchange rates fall after Federal Reserve minutes

Good morning,

After gaining around 0.7% during yesterday's session, GBP/USD exchange rates fell over 1% following the release of the U.S. Federal Reserve meeting minutes.

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The latest meeting minutes showed officials were split about when to raise the benchmark rate in the States, with a number of the FED's members looking to raise interest rates as early as June.

The positive tone led to a surge in investor confidence for the dollar and at the time of writing the GBP/USD cross had slipped back to $1.4765 as the graph below shows.


GBP/USD exchange rate graph

Will the dollar continue to strengthen?


Quite possibly, with a rate hike now firmly on the cards and the troubled Greeks still dominating the headlines there is every chance the dollar's value will continue to increase as investors seek the safety of the dollar and a better financial return.

Let's not forget the UK General Election is now only weeks away and is likely to weigh heavily on all sterling crosses.

With that in mind, I wouldn't be surprised to see GBP/USD exchange rates fall back under the five year low of $1.4675 we witnessed on the 18th March.

However, the dollar might not have everything its own way as there are still concerns over the current level of inflation in the U.S.

Some Federal Reserve officials are suggesting the current market conditions do not warrant a rate hike and the central bank should wait until early 2016 before increasing rates.

Get in touch.


If you have a requirement to buy or sell dollars in the coming months and want to ensure you are making the most from your transfer get in touch today.

As a specialist currency broker I have a number of contract options at my disposal, I can help protect you against adverse market movements or target a rate of exchange which is not currently available.

For more information on the different types of currency contract or to find out what rate of exchange I can offer, use the link below to complete the contact form or call me directly on 0044 (0) 1442 892 065.

Click here to complete the contact form.






Thursday, 19 March 2015

Federal Reserve announcement has huge impact on GBP/USD exchange rates.


Good morning,

The past twenty four hours have been extremely volatile for GBP/USD exchange rates, with the currency pair moving within a near four cent range. Yesterday evenings statement from the U.S. Federal Reserve caused chaos on the currency markets and have shown once again just how unpredictable things can be.

For a free currency consultation click here.


At 4pm yesterday the GBP/USD cross was sitting around $1.4650 but following the announcement by FED Chair Janet Yellen, exchange rates climbed to briefly break the $1.51 barrier before slipping back to $1.48 at the start of today's session.

To put the move into monetary terms, converting £200,000 would have seen a difference of around $8,500 between the high and the low of yesterday's session and underlines just how important it is to get the timing right on your transfer.

What did the FED say?

During yesterday's statement the Federal Reserve changed its stance on interest rates following their two day meeting. Interest rates in the U.S. have been at 0% since the 2008 financial crisis and there had been suggestions that Mrs Yellen could give an indication as to when the central bank will raise the bench mark level.... that didn't happen!

They FED did remove the word "patience" from their statement, the key word that has been used in recent months as an indication the bank would not be raising rates in the foreseeable future. However, Mrs Yellen went on to say the central bank would not be "impatient" and that "further improvement" was needed in the labor market before raising interest rates.

So why did this weaken the dollar?

Some investors had been hoping for a rate rise as early as June and it seems this had been priced into the market. With the FED holding off for the time being, the value of the dollar has been corrected and allowed the pound to claw back some of the ground it has lost over the past couple of weeks.

Get in touch

With Sterling set for a volatile few weeks in the run up to UK elections it is important to know what options you have in order to make the most from your transfer. As a specialist currency broker I have a number of contract options available to help protect you against adverse market movements or target a rate that might not be currently available.

For more information on the different ways to purchase your currency or to find out what rate of exchange I can offer, use the link below to complete the contact form or call me directly on 0044 (0) 1442 892 065.

Click here to complete the contact form.





Wednesday, 4 March 2015

GBP/USD exchange rates fall over a cent

Good afternoon,

Sterling suffered against the dollar during today's trading session as a number of positive U.S. economic numbers helped strengthen the greenback. GBP/USD exchange rates fell over a cent from $1.5367 to $1.5257, which means the pound has now lost nearly 2% since last Thursday.

For a free currency consultation click here.


Good news for the U.S. economy

The dollar received a boost this afternoon as Final Services PMI and Non-Manufacturing PMI numbers both beat expectations and coupled with this morning's UK Services sector numbers falling short of the predicted level, the dollar was able to make gains across the board.

EUR/USD and fresh 10 year low

Today's positive ecostats from the U.S. and the uncertainty surrounding the Eurozone left the EUR/USD at a fresh 10 year low today, The currency pair fell from 1.1180 to a low of 1.1064 this afternoon and with the U.S. leading the race to raise interest rates and the possibility of Greece leaving the Eurozone some forecasts are suggesting we could see EUR/USD exchange rates at parity by the end of 2015.

Protect yourself and make the most of your transfer.

If you have a requirement to buy or sell dollars in the next six months it is important to know what tools are available to help you make the most from your transfer. As a specialist currency broker I can secure rates for up to two years into the future, target a rate that might not be currently available or reduce your exposure to the ever changing FX market.

For more information on different types of market orders or to find out what rate of exchange I can offer, use the link below and complete the contact form for a free no-obligation consultation.

Click here to complete the contact form.