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The story behind our name.

The establishment of the meridian lines set the precedent for time-keeping and orientation. Sailors have reliably used them for centuries to navigate to destinations safely and efficiently. They remain central to GPS technology to this day.

Like the meridian lines, we successfully help our clients navigate the complex world of currency and international business; helping them plan, time and deliver their global transactions effectively and efficiently.

About Meridian

  • We've been really impressed by the support and responsiveness of Meridian's team. They've been a key partner in helping us protect our budget levels through a turbulent few years in the markets. We wouldn’t hesitate in recommending them.
    Hilary Hansen, Director, Schotten & Hansen UK
  • Meridian go above and beyond for us time and again. Seamless operations, great to deal with and I know my business interests are their number one priority.
    Sally Hayden, Director, Putoline Distribution
  • If any financial company worked like Meridian, the world would be a much better place!
    Lars Elm-Fich, Managing Director, Tastimage
  • We've been really impressed by the support and responsiveness of Meridian's team. They've been a key partner in helping us protect our budget levels through a turbulent few years in the markets. We wouldn’t hesitate in recommending them.
    Hilary Hansen, Director, Schotten & Hansen UK
  • Meridian go above and beyond for us time and again. Seamless operations, great to deal with and I know my business interests are their number one priority.
    Sally Hayden, Director, Putoline Distribution

    Latest News

    • Surprise US job figures boost risk appetite further

      The market has been surprised by the latest US payroll figures which showed much stronger employment numbers than expected. Fearing the continuing impacts of Covid-19, analysts had forecast a fall of around 8 million, however, the data showed the US economy added 2.5 million jobs. This is a huge improvement on last month’s record low reading of a 20 million decline. Further details showed the unemployment rate fell to 13.3% versus estimates for closer to 20%. This data indicates that the worst of the downturn from Covid-19 might be over and it has boosted optimism for a faster recovery. US stocks rallied sharply on the release and other risk assets, such as Sterling, jumped quickly. As a result, the GBP/USD has continued its recent ascent, rising another cent today and hitting a 3-month high. The GBP/EUR has also made ground back (as the Pound benefits more than the Euro on increases in risk appetite) and is up around 1% today. In other news, the latest round of Brexit negotiations have shown little progress. It seems that they’ve resigned from the fact they’ll get anything done before the end of June but will keep the door open to further negotiations until the end of October. It remains to be seen whether Boris Johnson will extend the transition period or not and a decision needs to be made before the end June. Any extension would support the Pound as it reduces the pressure of a no-deal exit.

      READ MORE

    • USD weak following Fed meeting; eyes on today's US GDP figures

      The US Dollar remains weak this morning following the latest Federal Reserve interest rate meeting overnight. Jerome Powell, the Fed Chairman, painted a gloomy picture of the US economy and highlighted that data had been a lot weaker since the rise in US coronavirus cases over the past 6-weeks. Although they kept policy on hold, they reiterated their commitment to using all of the monetary policy tools available but hinted that US politician will need to do more to help stimulate the economy. No extension to US Covid-19 unemployment benefits has yet been agreed between the Republicans and Democrats and these are set to expire this week. The USD had already been on the backfoot over the past couple of weeks amid rising US Covid-19 case numbers, an increase in market risk appetite and the continuing fallout in Washington over the extension of unemployment benefits. The currency markets have become more concerned the US recovery will be a lot slower than expected which has been causing a move away from the Greenback. Things can change quickly and particularly market sentiment which has been a key driver recently. Elsewhere, not much has changed for the UK bar news of new quarantine measures placed on tourists coming back from Spain. Brexit talks remain in gridlock, tensions remain high with China and expectations for a US-UK trade deal have been pushed out into next year. At this stage, and without any Brexit breakthroughs, any major independent Sterling gains look unlikely. As a result, the EUR/USD trades around the highest levels since September 2018. The weakness in the Dollar has pushed the GBP/USD up to a 4-month high. Some technical analysts feel the USD has now moved into oversold territory but there’s still lots going on to be overly confident of that. Heavy flows into the Euro have kept the GBP/EUR subdued but it trades towards the upper end of where it’s been over the past week. Eyes will now turn towards this afternoon’s latest US growth figures (1.30pm) for further direction on the Dollar. These are the first readings of the second quarter and economists’ forecasts vary wildly which could potentially lead to some volatility later. Average expectations are for around a historic 34.1% annualised contraction.

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    • EU agree deal on recovery fund after exhausting talks

      The Euro hit a fresh four month high against the USD after EU states finally agreed on a 750 billion Euro recovery fund. It took nearly five days for the EU countries to reach a compromise on the deal – a mixture of grants and loans – as some less-affected nations disagreed with the amounts been handed out. A deal was expected and largely priced in, however this is a positive for the Bloc and shows solidarity and a commitment to the Union from all member states. This has supported the Euro and also the Pound, as the UK will benefit from increased demand from Europe if their recovery is more pronounced. In other news, market risk appetite was also boosted after some positive Covid-19 vaccine trials by a UK-based company. This has increased hopes that a vaccine will be available within the next year. A successful vaccine is so key to markets as it is the only thing that can end the ongoing uncertainty the pandemic has caused. As a result, the boost to risk appetite has weakened the USD leading to a 4-mth high in the EUR/USD and a 5-week high in the GBP/USD. The GBP/EUR has clawed back some good ground and now sits at an 8-day high. Market risk sentiment has been a key driver for the Pound recently and traders will be closely watching for any developments in the geopolitics and also the latest coronavirus case numbers out of the US later on today. Brexit negotiations kick off again today as well. Geopolitical tensions remain high though and investors will be reluctant to get too carried away with the current positive market mood. UK-Chinese relations have deteriorated after the UK ended its extradition treaty with Hong Kong and decided to remove Huawei technology from their networks. China have vowed to retaliate and markets await their response. Finally, a report on Russian meddling in UK politics is also due for release today.

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    • Robust UK job figures fail to impress Sterling traders

      UK job figures have been more positive than expected this morning, however the Pound can’t seem to find a break as traders start to take a reality check about the long-term global picture. UK unemployment figures remained strong in May at 3.9% which was better than forecast (4.2%). Furthermore, the number of people claiming unemployment benefits actually dropped by 28K in June from May which was a big improvement on expectations for a jump of 250K new claimants. However, average earnings – a key figure the BoE monitor closely – were down 0.3% which could indicate the potential for disinflation and ultra-loose monetary policy for years to come. Sterling had been ticking lower overnight (mainly due to risk aversion/Brexit) and these relatively robust job figures have done little to boost the Pound. It’s likely traders are largely ignoring these numbers because of the furlough scheme skewing the data. Therefore, we’re unlikely to get a true picture until it ends later in the year. In other news, China has shown a huge rebound in economic growth (GDP) in the second quarter by expanding 11.5% quarter-on-quarter (and 3.2% year-on-year). The data points towards a solid post-Covid recovery, however it seems Chinese consumers are yet to get back into the full swing as retail sales figures missed expectations by dropping 1.8% year-on-year. This last data point has implications for the developed world, which has become more reliant on Chinese consumer demand over the years, and has soured global risk sentiment today. As a result, the Pound has given up most of the gains it had made back over the past couple of days. The EUR/USD has lost a bit of ground but remains close to a 4 month high. Later today, eyes will switch to the ECB meeting. It’s unlikely they’ll make any changes but the subsequent press conference might give markets some idea on how the ECB perceive the recovery is going. Although it's likely policymakers are in wait-and-see mode, as they wait to see how things develop in Brussels over the weekend with the EU recovery fund discussions. It continues to feel that we’re going through a bit of a summer lull in the currency markets with no major direction in the rates being realised.

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    • Weak UK growth figures indicate slower recovery

      The Pound has lost ground this morning following the release of worse than expected UK growth figures. This morning’s data showed GDP had only grown 1.8% in the month of May versus an expected 5.5%. This shows the rebound in growth was not as robust as expected and indicates that the recovery in the UK economy might be more gradual than anticipated. It also increases concerns that slow growth could feed into more job losses across the country and exacerbate the situation further. The Bank of England are closely monitoring data releases and for now they remain sidelined, but the more weak data they see, the more likely they will ease monetary policy and potentially introduce negative interest rates. As a result, the GBP/USD has moved down to a 1-week low and the GBP/EUR towards a 2-week low. Both crosses remain within familiar ranges though, as the currency markets continue to trade with relative calm. However, we expect a busy week in the FX markets with more data and news being released which might shake things up a bit. From a Pound perspective, we have inflation figures tomorrow and then job figures on Thursday – will these disappoint and put further pressure on the Bank of England to act? Over in Europe, traders will be closely monitoring the ECB meeting (Thurs) and then the key European Council meeting to see if an agreement can be reached on the 750 Billion Euro covid stimulus package (Fri/Sat). Finally, US retail sales figures out on Thursday afternoon will give a good indication of how well the US economy is recovering.

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    • Sterling trades buoyantly ahead of Sunak's statement

      The Pound is buoyant ahead of today’s mini-budget from UK Chancellor Sunak where he will lay out the government’s plans to kickstart the economy. He’s expected to announce stamp duty holidays, job placement plans for young adults, green initiatives and potentially cuts to VAT (around 12.30pm today). Many of his plans have already been leaked to the press and some feel the spending won’t go far enough. Traders will be keeping an eye on the announcements and the more spending the better for the Pound. The mood around Brexit continues to oscillate between fear and optimism. Now the deadline for requesting an extension to the transition period has passed, investors appear to be pushing out the Brexit risks further out into the future. The chief negotiators met for dinner last night and the silence after this meeting could indicate some progress was made. Although separately Boris Johnson told Angela Merkel the UK was ready to leave without a deal at the end of the year. Analysts are now suggesting the business end of these talks will only come after the summer, when we might see bigger Brexit moves in Sterling. In other news, Covid-19 continues to wreak havoc around the world with spikes in new cases and the re-introduction of localised lockdown measures. Cases are still increasing across US States with the Florida, Texas, California, and Arizona causing the most concern. President Trump continues to dismiss the severity of the virus and his government have announced they are officially leaving the World Health Organisation. News of a second wave in Australia’s second largest city, Melbourne, and the resultant new 6-week lockdown in the area shows that no region in the world is totally out of the woods yet. As a result, both the GBP/USD and the GBP/EUR have hit a 3-week high. However, both crosses have been trading in relatively tight ranges with no major breakouts so far.

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    • Pound lower as Boris prepared to accept Australia-EU terms on Brexit

      The Pound has moved lower this morning as increased Brexit uncertainty and market risk aversion continues to weigh on Sterling. Over the weekend Boris Johnson told the Polish Prime Minister he would be ready to accept moving to “Australia terms” after the transition period ends with the EU should no deal be reached before the end of the year. Most EU-Australia trade follows the World Trade Organisation rules (bar a few specific agreements); so this would essentially be a no deal Brexit. This has led to some Pound weakness. The deadline for requesting an extension to the transition period is tomorrow and Boris has already clearly stated he would not be making this request. Intensified UK-EU trade talks resume this week and will continue into July. Markets will be closely watching the headlines from these talks, so we expect continued volatility in the Pound over the coming weeks. Although there’s still huge divergence in positions, some analysts feel that the tone of the talks are becoming more conciliatory and that eventually compromises on both sides might be made. Sterling has also been hit by an increase in risk aversion in the markets as a surge in coronavirus cases in the US has made investors worry that the global economic recovery may be disrupted before it’s even properly got going. Certain southern US States are seeing record daily highs of new cases (partly down to increased testing though) and some States are having to reimpose lockdown restrictions. Although the US is unlikely to go back into full lockdown mode, it’s still likely to be very damaging to their economy. There’s debate about when and if the US Dollar will lose it’s safe haven status should their situation worsen and as other regions of the World continue their recoveries. The Pound generally gets hit when market risk aversion increases due to the UK’s close links to financial services and global investment. As a result, the GBP/USD has pushed to the lowest levels since the start of June. The GBP/EUR has pushed to a 3-month low with the market breaking below the 1.10 mark. The Euro has made decent gains as the regions recovery from Covid has been going well and the united EU response to the virus has made the single currency more attractive. This week traders will be keeping an eye on Brexit headlines, US Covid-19 case numbers, the latest US employment figures (Thurs) and UK services (Fri).

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    • Pound down as BoE increase bond-buying by another £100 billion

      The Pound has lost some ground this afternoon after the latest Bank of England interest rate meeting. Policymakers voted to increase the central bank’s bond buying (quantitative easing) by an extra £100 billion to help support the coronavirus-hit economy. They said they would spend this extra on government bonds and expect the new total target of £745 billion would be bought by the end of the year but at a slower pace. By purchasing government bonds they’re helping support the government’s enlarged borrowing requirements created by Covid-19 which also helps to keep borrowing costs down for businesses and consumers. Initially the announcement strengthened sterling as their decision was slightly more hawkish (optimistic) than expected with some traders expecting a larger increase in stimulus. However, the market quickly turned negative on the Pound and it has been heavily sold back. Traders might feel that there is not as much support coming from the Bank of England as they would like or it’s just a ‘buy the rumour, sell the news’ move. Either way, the GBP/USD is down 1% on the day and currently trades at the lowest levels of the month. The GBP/EUR is down 0.75% on the day and also at the lows for June.

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    • UK economy contracts by 20.4% in April as lockdown bites

      The UK economy contracted by a whopping 20.4% in the month of April as the country was paralysed by the coronavirus lockdown. This was the largest slump since records began and worse than forecast. Although April is likely to represent the trough in GDP, it demonstrates how severe the impact of Covid-19 has been on our economy and how the recovery might take longer than previously anticipated. The vast fiscal costs of the collapse and the large rise in unemployment are likely to create long-term economic damage. So far these figures haven’t had a huge impact on Sterling though. Brexit continues to weigh on Sterling and the UK government are expected to formally declare they will not be requesting an extension to the transition period – regardless of the ongoing coronavirus crisis. However, they’re expected to announce a loosening of the border checks for imported goods after the transition period to help reduce the burden on British businesses. Brexit negotiators have also agreed to “an intensified timetable” for talks over the coming weeks in an attempt to make some progress on securing a deal. Recent talks have stalled and a breakthrough continues to feel a way off. In other news, US stocks plummeted yesterday – the biggest falls since March (-6%) – as analysts’ fears increased of a potential second wave of coronavirus cases in the US. Covid-19 cases have been rising in many US States over the past couple of weeks and Florida, Texas and Arizona all registered their highest number of new daily cases yesterday. This all comes at a time when the US government have been easing restrictions and pushing for the US economy to reopen quickly. The recent widespread protests in the US only adds further reasons to be concerned. With the US Government declaring they will not lockdown the economy again, it remains to be seen how a second wave would play out and how damaging (and long-lasting) the impacts would be on their economy. As a result, the GBP/USD moved around 1% lower yesterday, but it has already clawed back around half of this today. The GBP/EUR has been trading within a fairly tight range and, although it edged lower yesterday, it has also recovered some ground today. US Covid-19 case numbers will be closely watched out of the States later on today and then eyes will turn to Boris Johnson’s (remote) meeting with the European Commission President on Monday to discuss Brexit.

      READ MORE

    • Surprise US job figures boost risk appetite further

      The market has been surprised by the latest US payroll figures which showed much stronger employment numbers than expected. Fearing the continuing impacts of Covid-19, analysts had forecast a fall of around 8 million, however, the data showed the US economy added 2.5 million jobs. This is a huge improvement on last month’s record low reading of a 20 million decline. Further details showed the unemployment rate fell to 13.3% versus estimates for closer to 20%. This data indicates that the worst of the downturn from Covid-19 might be over and it has boosted optimism for a faster recovery. US stocks rallied sharply on the release and other risk assets, such as Sterling, jumped quickly. As a result, the GBP/USD has continued its recent ascent, rising another cent today and hitting a 3-month high. The GBP/EUR has also made ground back (as the Pound benefits more than the Euro on increases in risk appetite) and is up around 1% today. In other news, the latest round of Brexit negotiations have shown little progress. It seems that they’ve resigned from the fact they’ll get anything done before the end of June but will keep the door open to further negotiations until the end of October. It remains to be seen whether Boris Johnson will extend the transition period or not and a decision needs to be made before the end June. Any extension would support the Pound as it reduces the pressure of a no-deal exit.

      READ MORE

    • USD weak following Fed meeting; eyes on today's US GDP figures

      The US Dollar remains weak this morning following the latest Federal Reserve interest rate meeting overnight. Jerome Powell, the Fed Chairman, painted a gloomy picture of the US economy and highlighted that data had been a lot weaker since the rise in US coronavirus cases over the past 6-weeks. Although they kept policy on hold, they reiterated their commitment to using all of the monetary policy tools available but hinted that US politician will need to do more to help stimulate the economy. No extension to US Covid-19 unemployment benefits has yet been agreed between the Republicans and Democrats and these are set to expire this week. The USD had already been on the backfoot over the past couple of weeks amid rising US Covid-19 case numbers, an increase in market risk appetite and the continuing fallout in Washington over the extension of unemployment benefits. The currency markets have become more concerned the US recovery will be a lot slower than expected which has been causing a move away from the Greenback. Things can change quickly and particularly market sentiment which has been a key driver recently. Elsewhere, not much has changed for the UK bar news of new quarantine measures placed on tourists coming back from Spain. Brexit talks remain in gridlock, tensions remain high with China and expectations for a US-UK trade deal have been pushed out into next year. At this stage, and without any Brexit breakthroughs, any major independent Sterling gains look unlikely. As a result, the EUR/USD trades around the highest levels since September 2018. The weakness in the Dollar has pushed the GBP/USD up to a 4-month high. Some technical analysts feel the USD has now moved into oversold territory but there’s still lots going on to be overly confident of that. Heavy flows into the Euro have kept the GBP/EUR subdued but it trades towards the upper end of where it’s been over the past week. Eyes will now turn towards this afternoon’s latest US growth figures (1.30pm) for further direction on the Dollar. These are the first readings of the second quarter and economists’ forecasts vary wildly which could potentially lead to some volatility later. Average expectations are for around a historic 34.1% annualised contraction.

      READ MORE

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