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-hour is 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.
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.
Call us/we call you to confirm the rate. If you are happy, we will book this for you and send a trade confirmation via email.
Send your funds to a segregated, ring-fenced account in the bank. 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.
Post date: 17/09/2018 10:00
Emerging market currencies finally enjoyed a strong bounce back last week. They were led by the Turkish Lira, which soared higher after its central bank hiked rates by nearly 5% to 24%, in an apparent return to sane monetary policy. This brought the Lira to outperform every other major world currency for the second week running. Lower than expected inflation readings out of the US also helped by dragging down both US bond yields and the US dollar, which ended the week down against every other currency except for Asian ones. The latter were kept on the backfoot by continued uncertainty over the outcome of the trade conflict between the US and China.
Central bank meetings will steal the spotlight this week in both G10 and emerging market countries. Most critical will be the Bank of Japan, Norges Bank, South African Reserve Board, Swiss National Bank and Banco Central do Brazil.
The Bank of England left policy unchanged last week, as universally expected. However, further positive comments from the Brexit negotiations supported Sterling. In particular. lead EU negotiator Michel Barnier suggested that an agreement was likely in the next few weeks. This confirms our view that a no-deal Brexit is an unlikely outcome and Sterling has been excessively punished in the last few weeks.
This week the focus is on inflation data out Wednesday, as the Bank of England has made it clear that further hikes are dependent on its expectations for future inflation.
As fears of a confrontation over the Italian budget recede, markets are beginning to accept that the ECB will in fact taper its purchases of sovereign bonds according to schedule, and that hikes will be forthcoming some time in the second half of next year. The ECB confirmed this outlook with somewhat hawkish communications in last week's meeting. President Draghi struck a confident note both on growth and on the prospects for inflation to return to its target over the next few months.
We look to Friday's flash PMI data to confirm that the economic expansion in the Eurozone remains on track, though we see no sharp moves in the EUR-USD cross rate until more clear signs emerge of an upward trend in Eurozone inflation.
The budding rally in US Treasury yields that started after the strong employment print was temporarily cut short by lower than expected inflation data. This week, data out of the US is relatively scarce, dominated by second-tier indicators like housing sales. Consequently, dollar trading will be driven primarily by headlines on the various trade conflicts and news from elsewhere.
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.
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