The Pound slips in early morning trading as polls released and the dust settles (and the volcanic ash)

Sterling has lost ground against a basket of major currencies in this morning’s trading as the dust settles following the live debate and polls suggest that David Cameron and the Tories may have been slightly pegged back.

I personally feel that the Pound will not suffer too much for too long however and economic data will step back into the frame before we even know it.

This has presented a short term opportunity for anyone selling foreign currency, and should you be in the process of doing so it is imperative you are in close contact with a experienced and professional broker who can keep you informed of such movements.

The Pound has dropped against the dollar this morning a little more than most perhaps due to it creeping just a little higher than many expected over the course of this week.


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I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR

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Daniel Wright

Pound Sterling weakness - what is behind it and how long will it last?

The Pound suffered huge losses in yesterday's trading as a number of different factors - these are the following:

A Hung Parliament - Weak Pound

It appears more and more likely that the U.K will end up with a hung parliament following elections in May according to recent polls and with political uncertainty being one of the four main factors that affect the value of a currency - along with Economic stability, acts of terror and acts of god the Pound has weakened dramatically off the back of this.

Markets move on rumour as well as fact and the longer the hung parliment term hangs over the head of the U.K the Pound will find it really hard to shift back up in the right direction.

PIGS seem to have gone to sleep

The so called PIGS of Europe have gone to sleep of late and the Euro Zone seem to have a talent of sweeping problems under the carpet as opposed to the U.K who are quite happy to constantly talk about them.... Enter Mervyn King and Alistair Darling!!

Once these problems in the Euro Zone come back to light we may see Euro weakness again however whether or not Sterling gains because of this will be dependant on what other problems in the U.K have come to light.

Sterling Dollar hits low since May 09

The Pound dropped to fresh lows since 2009 against the USD yesterday and analysts predict there may be further to go.

We all know what happened last year when the Dollar had a good run so beware if you have an upcoming purchase to make.

GBP AUD 25 year lows

Following the 4th interest rate hike in 6 months the Australian economy appears to be handling the global crisis extremely well, how much lower can this go with important GDP figures due out this week for Australia.

GBP CAD also at fresh lows

The Pound also hit fresh lows against the CAD following much better than expected GDP data released over there yesterday, yet another currency pairing that is breaking long term records!

This is a brief summary of todays report for further information on the currency markets or if you have an upcoming transfer to make and want to discuss the options available to you call Daniel Wright on 01494 787462 or email me djw@currencies.co.uk

I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR



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U.K out of recession - Figures however worse than expected - Minor Sterling weakness

The Gross Domestic Product figures have now been released for the final quarter of 2009 by the U.K and indeed we are now officially out of a recession.

However great that sounds figures only came out at 0.1% growth leading to the potential for a W shaped recession and us slipping back in when the next figures are released.

Sterling has lost ground off of the back of this data.

Be poised for an interesting year ahead!!

This is a brief summary of todays report for further information feel free to Email Me

I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR
Have a great day and thanks for reading!

Daniel Wright

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Sterling weakness following poor consumer confidence - steady against Dollar, losses against AUD NZD EUR CAD CHF ZAR and more Forecast for week ahead

This report will give a general outlook as to what is expected for Sterling and numerous other currencies in the week ahead and December 2009.

Sterling has once again kept to the tradition of 2009 of taking "one step forward and two steps back" as consumer confidence figures released this morning came out worse than expected.

Also, mortgage approvals were worse than expected and both sets of data have led to a drop for Sterling against a basket of major currencies with the only one we are holding steady against being the USD.

Last week the Pound stayed reasonably stable until GDP figures came out and it just seems that a flurry of poor data seems to be creeping back in for the U.K which is poor timing coming into December.

EUROZONE

The week ahead sees Euro Zone data released on Tuesday with unemployment levels coming out and also the key interest rate decision on Thursday - no change in rates is expected however any comments on future economic policies could cause volatility.

USA & CANADA

The big one for the Dollar this week is Non Farm payrolls and general unemployment data on Friday - this data can come out quite a bit differant than predicted so can cause huge volatility.

In Canada we see GDP data released which again may lead to big movements.

AUSTRALIAN DOLLAR AND SWISS FRANC

Australia release their interest rate decision on Tuesday extremely early in the morning - expected is a minor increase - the third in a row which once again could lead to AUD strength so be aware if you have upcoming AUD transactions.

Tuesday morning also sees the Swiss GDP figures released so once again be extremely aware should this come out better than expected.

In short, a very rocky period ahead for Sterling against all major currencies - personally I feel Sterling may lose ground against the vast majority in the coming weeks as other economies are releasing much better data than ourselves - however the markets have been known to surprise us all year so keep checking back for further information!!!

THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR
Have a great day and thanks for reading!

Daniel Wright

Dubai world and U.K bank ties lead to Sterling weakness over past 24 hours

The FTSE 100 tumbled 3 percent yesterday, this follows news that the investment company Dubai World has asked its creditors for an extension to repay its debts, which amount to £35Billion until 2010; for those readers who don’t know Dubai World is an investment company that manages and supervises a vast number of businesses and projects for the Dubai Government.

Dubai world is seen as a key element in the rapid expansion of Dubai’s economy and some analysts have speculated that this will expose the British banks to the debt problems in Dubai. Although this exposure has yet to be confirmed the potential risk involved has impacted Sterling. Dominique Strauss-Khan the managing general of the International Monetary Fund stated that ‘global banks had only worked their way through half of their toxic assets since the break of the banking crisis’ and Gavin Friend, currency strategist at nabCapital said sterling had been "disproportionately hit" by the shock debt request from Dubai.

This has hit the Pound as many U.K banks may well be involved in this potential nightmare so if you do have an upcoming request any future announcements could lead to further losses.

THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR
Have a great day and thanks for reading!

Daniel Wright

Sterling weakness in early morning trading - losses against USD EUR JPY DKK CHF CAD small gains against SEK ZAR AUD NZD buy sell

This morning has seen Sterling lose ground against a basket of major currencies and also gained ground against the antipodean currecnies.... potentially down to carry trading which has once again become a major factor in the markets.

There is no major underlying factor I can see at present as to why the Pound has lost ground in general although the dust still may be settling from the GDP figures yesterday. Although they were not too bad and came out exactly as expected some investors may have gambled on figures coming out even better hence the losses.

Also, the news that big banks will have to declare how many of their U.K employees are earning over £1million - I personally think this is a stupid measure as it may eventually push financial institutions away from the U.K which in turn would not assist the economy at all........... We now have to rely on our financial sector and indeed the banks to make the U.K money as slowly but surely our manufacturing sector grinds to a halt and we no longer made anything!!

Today is thin on the ground data wise with nothing out for the U.K - although surprises do pop up all the time so it is always imperative you have someone watching the market so that you don't have to.

If you do have an upcoming transfer then feel free to contact me to discuss your options inclusive of forward contracts, stop and limit orders.

THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR
Have a great day and thanks for reading!

Daniel Wright

Three way split on QE leads to Sterling weakness

The Pound has had a terrible day on a trade weighted basis today, mainly due to worries on the Bank of England's future views on quantitative easing alongside other information released in the minutes.

At the time of writing this post Sterling had dropped by 1.12% against the Euro 0.37% against the Dollar and 1.14% against the Swiss Franc to list just a few currencies of note.

Once again if you do have an upcoming transfer to make it may be prudent to seriously consider your options which include a forward contract, stop loss and limit orders - these can be fantastic tools to assist you with maximising your rate.

Do feel free to get in touch with me if you are unsure as to what these are and how they work.

THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

Have a great day and thanks for reading!

Daniel Wright

Sterling weakness set to continue??

Following a terrible week for the Pound last week many clients are asking me whether or not I believe this is set to continue....... Personally it certainl;y looks like it will in the short term with many other economies in a much better position than the U.K.

We are also seeing lots of interesting announcements and revalations this week at the Labour conference - with Alistair Darling due to speak later on today, and we all know what generally happens to the value of Sterling when he talks - it tends to plummet.

Political certainty is one of the four factors that will effect the value of a currency alongside economic stability, acts of terror and acts of god.

Obviously there is little we can do about the second two factors however the first two are key, and i'm sure that anyone who has had one eye on the markets or the news recently can make their own mind up as to which way the Pound may go.

My personal prediction is that come Spring things will start to turn around again, however anything can happen in the currency markets over a matter of hours let alone months, so anyone giving predictions and being fully confident they they are right has their head in the clouds as there are lots of surprises popping up everywhere all over the globe.

This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

Sterling weakness v eur, usd, aud, nzd, zar, dkk, sek, cad in early morning trading

Upon walking into the office this morning it is red screens accross the board for Sterling meaning the Pound has weakened against pretty much every major currency in early morning trading.

There is no major data releases of note that I can put this weakness down to at present, although German PPI (Producer Price Index) data came out a lot better than expected which may have led to Euro strength.

At the time of writing this post GBP - USD hit 1.6299 and GBP - EUR dropped to 1.1114 which is a huge drop from yesterday.

I will provide further updates once I have found out the reasons behind these losses, however should you have an upcoming transfer it may be prudent to get in touch sooner rather than later.

This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

Sterling continues weakness following comments from King gbp v eur usd nzd usd zar sek, dkk, nok, aud, nzd

Sterling has contiuned to make minor losses against most major currencies this morning off the back of Mervyn Kings comments yesterday regarding the U.K economy.

We actually had slightly better than expected unemployment data for the U.K this morning which has assisted Sterling in making back some of the ground lost in early morning trading however it appears investors confidence in the Pound has once again been knocked by one of our key economic figures.

This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

Sterling weakness Following Weak PMI and Mortgage approval data GBP EUR GBP USD GBP AUD GBP NZD GBP ZAR

Today has seen Sterling lose ground against a basket of major currenices, following much worse than expected mortgage approval and PMI data this morning.

This has continued Sterlings slide in the wrong direction and now has analysts posing the question - just how much further will it go before we start to get better???

Personally I believe it will get ever so slightly worse before it gets better but at present Sterling is still majorly undervalued so I am merely looking for data to start to become slightly more positive before we start the turn around.....

All eyes are on quantitative easing announcements in the coming weeks as these seem to be one of the major talking points at present, and one of the data releases that is assisting Sterling's decline.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

GBP AUD NZD Weakness continues

Sterling is still continuing to slide against the Australian Dollar and New Zealand Dollar this week hitting the lowest levels seen in a very long time.

At the time of writing this GBP - AUD was hovering above the 1.97 level and GBP - NZD just below 2.44.

It appears that Australia seem to have handled the global recession a lot better than many other economies alongside many investors continuing to partake in carry trading which always affects these currencies.

Carry trading is where an investor borrows money from an economy with a lower interest rate (USD, GBP, JPY) and invests it in an economy with a much higher interest rate (ZAR,AUD,NZD.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright

U.K GDP Figures worse than expected - Sterling Weakness

U.K Gross Domestic Product figures were released this morning and came out slightly worse than expected which has lead to early morning Sterling weakness against a basket of major currencies.

Predictions were for a -0.3% however official figures released showed a drop of 0.8% a whole o.5% worse off.

This has lead to the Pound losing ground against the Dollar, Euro, Australian Dollar, New Zealand Dollar, South African Rand and pretty much every currency across the board.

This is a brief summary of todays report. Click here to read the full report on our main website

If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me




Have a great day and thanks for reading!

Daniel Wright