FairFX Press Releases > Euro Related Posts
Rishi Patel, Head of FX trading at FairFX.com, commenting today, said, “The Global equity sell off has prompted safe haven buying in currency markets. The US dollar rally has kept the pressure on the Euro and Sterling and investors will be taking a cautious stance ahead of the major central bank meetings. This morning the pound failed to find any real direction, and there is still some ambiguity as to whether the Bank of England will expand the quantitative easing programme and if so, how far?
"This week is likely to set the scene for where financial markets will finish the year as traders await key decisions from the Federal Reserve, the Bank of England and the European Central Bank. Although markets are not currently expecting a change in base rate by the Federal Reserve, all eyes are watching as traders begin to speculate on the direction of monetary policy.
"If the markets stay cautious we would expect the dollar to appreciate as the ‘safe haven’ currency of choice. And in the UK we could see pressure firmly back on Sterling if the widely debated extension to the Asset Purchase Facility is significant."
FairFX.com is an internet based foreign exchange business with a technology platform that allows it to provide UK travellers with the best foreign exchange rates in the market.
Tuesday 03 November 2009, 10:05am
SO GET YOUR DOLLAR DEAL NOW BEFORE ITS GOING, GOING, GONE...
As the pound surges to a ten month high, anyone travelling to the States in the coming months could benefit from getting some of their travel money now, to lock in on the current rate of $1.67 for every £1 from FairFX.com.
Stephen Heath, Chief Executive of FairFX.com, said: “This surge in the value of the pound is good news not only for the UK economy, but also for British travellers planning to head across the pond. While still a long way below the $2 to £1 levels seen in July last year, the pound has rebounded 25% from the 23-year low of $1.35 it plummeted to in January this year.”
Don’t be fooled
Checking the exchange rate is very important as many travellers are misled by headline advertising for travel money such as “0% commission” or “no commission”, which often masks the true cost.
The true cost to consumers is not only the advertised commission rate, but also how many Dollars, Euros or other currencies they receive for each pound exchanged, namely the exchange rate. This can vary so much that some travellers, particularly if they use regional airports, could actually be paying up to 15% more than others.
Stephen Heath added: “No one likes to be fooled into buying something only to find out too late that they paid over the odds or that they have been stung by extra transaction costs when they return from their holiday. A good currency card gives travellers the choice about when they fund their trip, getting Dollars now could help someone to budget for a future holiday, or simply mean they’ve locked in the best rate available so far this year.”
FairFX offers customers market-leading exchange rates via either a pre-paid currency card or cash via their internet site: www.fairfx.com.
Tuesday 04 August 2009, 05:29pm
Travellers flying from Heathrow could find buying their holiday money comes at a hefty price tag. New analysis from FairFX.com reveals anyone buying foreign currency from Heathrow Airport will get less than parity at just €0.9831 to £1.
Stephen Heath, Chief Executive of FairFX.com, said: “Following last week’s base rate cut and the introduction of quantitative easing, the Pound is being traded at just €1.0831 to £1. However, Brits buying their holiday spending money from Heathrow Airport will get even less bang for their buck, just €0.9831 to £1.
“Airport travel money bureaus have long taken advantage of travellers who leave buying their holiday cash until they reach the airport by offering far worse rates than outside the terminal. And now Heathrow Airport has become the biggest airport out of many to offer below parity.”
Currently, you can still get €1.0725 to £1 with the FairFX.com currency card, 7% above the average airport rate, and 9% better than Heathrow Airport.
Friday 13 March 2009, 03:15pm
Commenting on the Pound’s fall against the Dollar, Stephen Heath, Chief Executive of FairFX.com, said: “Sterling has continued to collapse against the Dollar falling to just $1.35 to £1 earlier today, its lowest rate since 1985. When measured against a basket of currencies Sterling has collapsed by approximately a quarter, more than any previous devaluation in the past century.
“The escalation in the banking crisis and news that we have officially entered recession has led to investors dumping Sterling in favor of more secure assets and the Pound falling to its lowest rate against the Dollar in almost a quarter of a century.“
Friday 23 January 2009, 03:44pm
Commenting on the Pound’s fall against the Dollar, Stephen Heath, Chief Executive of FairFX.com, said: “Despite getting off to a good start in 2009 the Pound looks to be in a sorry state again already, falling to just 1.3950 against the US Dollar – a seven year low – and 1.08 against the Euro. Sterling is also trading at an all time low against the Japanese Yen.
“After a horrific day for the UK banking industry yesterday, traders have failed to keep Sterling supported against the US Dollar. Investors around the world are beginning to cut exposure to the weakening UK economy and its distressed banking sector.
“We are close to the 2001 low of $1.3685 to £1, making the heady days of $2 to the Pound seems like a distant memory. The financial markets are expected to remain volatile at least for the first half of the year, and travellers should plan foreign currency purchases carefully to ensure they stretch their Pounds as far as possible. Brits would need a crystal ball to accurately predict the currency swings and roundabouts we are seeing at the moment, so until things settle down Brits should try to buy their currency in small increments on a periodic basis to try to protect their wallets from rate fluctuations.”
Tuesday 20 January 2009, 04:49pm
Commenting on the Pound’s gains against the Euro, Stephen Heath, Chief Executive of FairFX.com, said: “The end of 2008 saw the Pound beaten down to a measly €1.0195 to £1 on 30th December. However, 2009 is looking brighter for the beleaguered currency and we have already seen gains of more than 7.5 per cent since the lows of December.
“In the past few days, investors have been selling Euro-based assets and have taken an interest in Sterling instead. By the end of yesterday, the Pound had clawed back another three cent on the Euro to reach €1.11 to £1.
“Analysts expect the Euro to remain weak in the short-term as the European economy looks as vulnerable as its rivals. And despite predictions of further interest rate easing by the European Central Bank, traders do not expect recent Euro gains to be sustained.
“Sterling has also rallied against the US Dollar and is now trading at $1.52 to £1 due to US confidence being hit by weak economic data and the Federal Reserve having hinted at concerns of deflation.”
Thursday 08 January 2009, 09:20am
Commenting on the Pound falling to just €1.1096 to £1, Stephen Heath, Chief executive of FairFX.com, said: “For the first time since the launch of the Euro, Sterling has fallen below €1.11 to £1, and at €1.1096 to £1 it is at its weakest position. I fear we won’t have long to wait until we see the Pound fall to just €1 to £1, and perhaps slip even lower.
“Anyone who is planning to buy Euros in the near future should consider buying at least half their foreign money now before rates get even worse, and buy the rest later just in case Sterling regains some strength.”
Monday 15 December 2008, 03:19pm
Travellers flying from regional airports could find buying their foreign cash comes at a hefty price tag. New analysis from FairFX.com reveals changing £200 at Birmingham Airport will only get holiday makers €199 after charges – less than €1 for £1
Travellers flying from regional airports could find buying their foreign cash comes at a hefty price tag. New analysis from FairFX.com reveals changing £200 at Birmingham Airport will only get holiday makers €199 after charges - less than €1 for £1.
Stephen Heath, Chief Executive of FairFX.com, said: "It's probably only a matter of time before the Pound weakens to a point of currency exchange rate parity with the Euro. However, Brits buying holiday spending money from Birmingham Airport will be faced with this dire exchange rate before the rest of the country, with Liverpool and Luton airports not far behind.
"This is because regional airports have long taken advantage of travellers who leave buying their holiday cash until they reach the airport by offering far worse rates than outside the terminal
"Brits planning a European skiing holiday in the New Year might want to buy half their Euros now at today's rates to limit the pain should Sterling fall even further, and the rest before they depart just in case Sterling should improve."
Currently, you can still get €1.12 to £1 with the FairFX.com currency card, seven per cent above the average airport rate, and 12 per cent better than Birmingham Airport.
Thursday 11 December 2008, 05:40pm
Commenting on the future of Sterling after yesterday's base rate cut, Stephen Heath, Chief executive of FairFX.com, said: "Yesterday was key for understanding where the Pound is heading. All the key technical indicators show we might see Sterling strengthen against the Dollar. However, November set a precedent and the markets are expected to rally behind the Pound if it falls to around $1.44 to £1.
"The $1.44 mark is currently a key technical trigger point for traders who will start to support Sterling heavily at that rate for the short to medium term. It is possible there will be further falls next year, but I doubt we will go below $1.30 to £1.
"As yet the Euro has not shown any sign of weakening against the Pound, so fundamentally we have no reason to expect Sterling to begin to strengthen against the Euro for a while to come.
"All in all the Pound isn’t looking strong, but the markets aren’t going to let it go under just yet."
Friday 05 December 2008, 03:32pm
Brits have faced a tough summer amidst the credit crisis, rising cost of living, and the poor weather. Now, to compound the misery for anyone planning a late summer break to the Med the Pound has fallen to a record low against the Euro.
Stephen Heath, Chief Executive of FairFX.com, said: "With the Pound at a record low against the Euro, Brits looking forward to a late summer holiday in the sun are faced with a costly dilemma when it comes to getting their holiday money. Given the current poor exchange rate to the Euro and the possibility of further falls, Brits could be best off buying their travel money now.
"The FairFX.com pre-paid currency card will enable Brits to protect, or hedge, themselves against further currency volatility as they can buy at today’s rates and simply keep the Euros until they want to start spending. FairFX.com offers holidaymakers an incredibly cost-effective and secure way to make the most of their cash."
Wednesday 03 September 2008, 09:46am
Latest 'Euro' Posts
03 November 2009, 10:05am
04 August 2009, 05:29pm
13 March 2009, 03:15pm
23 January 2009, 03:44pm
20 January 2009, 04:49pm
08 January 2009, 09:20am
15 December 2008, 03:19pm
11 December 2008, 05:40pm
05 December 2008, 03:32pm
03 September 2008, 09:46am
Monthly 'Euro' Archives
2009
November (1 entry)
August (1 entry)
March (1 entry)
January (3 entries)
2008
December (3 entries)
September (1 entry)
April (1 entry)
