Ben, Travel Company Owner
David, Owner of a Software Company
Esther, Accounts at a Hygiene Company
George, Accountant at a Catering Company
WE CATER FOR LARGE CORPORATES, SMALL-MEDIUM SIZED ENTERPRISES OR PRIVATE INDIVIDUALS
We tailor our service to your needs
Save up to 5% of the traded amount
Our payment and foreign exchange services are provided by Ebury partners UK Limited
Book today's rate and have the flexibility of paying within two days.
Book today's rate and pay at a later date, up to years in advance. If you do not have a fixed date, then we can book a window forward and you can use the currency over a set time period. There is no limit to how many times you draw-down on your contract.
If you have a target rate for a trade, we can input a digital order for that rate which runs 24 hours a day, seven days a week. Even if your rate becomes achievable for just a second, your order will fill and you will be notified.
Your dedicated Trader will guide you at every step along the way when trading. Even when you are not, they will keep you updated on any significant news and market movements to avoid any unforeseen fluctuations in the rates, meaning you will not have to worry about any unforeseen costs.
Give us a call or send us an e-mail to confirm the rate.
Send your funds to a segregated, ring-fenced account. You will be automatically notified once your funds have been received.
Let us know where to send your currency. You can do this via phone or email.
We send the funds to your beneficiaries swiftly and securely. You will be automatically notified once your funds have been sent.
You will be emailed with our exchange rate within 1 hour
We will only call you with your prior agreement. No mailing lists, no phone calls, no nonsense.
Post date: 17/12/2018 09:00
Yet another weak print from the PMI leading indicators of economic activity slammed the Euro and dragged down all the other European currencies, which lost anywhere from 0.8% to 1.5% for the week. Sterling performed particularly poorly, as the European Union rebuffed Prime Minister May's attempt to get additional concessions in her Brexit withdrawal agreement after cancelling a Parliamentary vote that she was certain to lose.
All eyes are now on the Federal Reserve meeting this week. The FOMC is universally expected to hike rates, but the key will be the extent to which its expected path for 2019 hikes is revised lower. Political headlines around Brexit and the trade conflict between the US and China should also add to currency volatility.
Volatility and uncertainty continue to be high in Sterling as we go into the year-end period. The cancellation of the Parliament vote on Tuesday and the refusal of the European Union to enter into any substantial renegotiations understandably hammered the Pound, which ended up underperforming every G10 currency except the Norwegian Kroner. The seriousness of the situation is underscored by the decision of the European Commission to push ahead with preparations for a no-deal Brexit. Paradoxically, May's failure increases the chance of a last minute can-kicking exercise in which Brexit is postponed beyond the March 29th deadline, perhaps opening the door for a new referendum.
There were Euro-positive developments in Italy, where the Government proposed a new, revised target deficit of 2% of GDP, which we think is quite close to a level acceptable to the European Commission. These news, however, were overshadowed by the new fall in the flash PMI indicators of economic activity. A lot of the drop was due to the Yellow Vest disruption in France, which seems to be ebbing, but nonetheless the numbers are concerning and warrant close attention in the coming weeks. The ECB appears to be getting concerned as well, stating in its December meeting that risks have moved to the downside. We see now no chance of a Q3 2019 hike from the ECB and are delaying our forecast until December 2019, though we maintain for now our euro forecasts as we await the January PMI and inflation numbers.
Strong inflation and retail sales data out of the US appear to confirm that a US recession is nowhere in the horizon, and probably sealed the case for a hike at this week’s FOMC meeting. We are expecting the Fed's forecast for its own policy decisions to be revised significantly down, in line with dovish statements from its members. The median forecast for 2019 should drop from three hikes to one. While interest rate markets have fully pried in such a move, we are not sure strategists and economists have, which opens the door for a potential dollar selloff if our views turn out to be correct.
Sovereign International is a company registered in England and Wales (registered number 0935 7987). Our payment and foreign exchange services are provided by Ebury partners UK Ltd.; authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (reference number: 900797). The FCA requires Ebury to meet standards across three areas. Ebury exceeds all three areas:
The levels of capital requirements are based on Ebury's level of activity. The FCA reviews Ebury's capital adequacy on an annual basis.
All client funds are held in segregated accounts, entirely separate from Ebury's own operating accounts, so client funds are always safe.
Ebury has strict governance and operational processes in place to scrutinise the accuracy of each transaction, with appropriate involvement from directors. Compliance with Ebury's governance and processes is regularly audited.