Jump to content
Complete France Forum

£ to € exchange rate.


Tom 58

Recommended Posts

If the Eurozone begins a programme of bond buying which it has apparently been cleared to do then the euro will strengthen. In addition the UK election may cause caution, lowering the pound. So, the pound may be at its highest point now.

But devious are the ways of the money market, so we shall have to wait and see.

Link to comment
Share on other sites

Welcome to the ride Tom58. I have lived with these ups and downs for over half my life.......so have budgeted for the worse case scenario and enjoy having a little more money in the good times.

I don't know tonight's lottery numbers and I wouldn't even dare to guess where the currencies will go. 18 months ago, a foreign money trader told me that he had expected the €/£ to be about 1.35 within 6 months, bet they don't know the lottery numbers either[Www]

Link to comment
Share on other sites

Welcome to the ride Tom58. I have lived with these ups and downs for over half my life.......so have budgeted for the worse case scenario and enjoy having a little more money in the good times.

I don't know tonight's lottery numbers and I wouldn't even dare to guess where the currencies will go. 18 months ago, a foreign money trader told me that he had expected the €/£ to be about 1.35 within 6 months, bet they don't know the lottery numbers either[Www]

Link to comment
Share on other sites

My interpretation is that the proposed ECB move to full QE, deflation in the eurozone and uncertainty regarding the Greek elections due for the end of the month (and whether the new government will try to renegotiate the terms of their bailout) are weighing on the euro at the moment and will do so for a little while. It is interesting that despite lower than expected UK inflation figures yesterday, which would normally have had a negative impact on the pound, the euro has weakened further and the £ is at a 6 year high versus the euro.

I know nothing of what the currency markets will do over the next 20 minutes never mind the next few months, but I feel that in general the pound will stay fairly strong against the euro in the coming weeks, unless something major turns up or the UK government act surreptitiously to bring rates down to help UK exports. This is the second 'test' of the 1.29 euro/£ level in the last week or so, and if that psychological resistance level is breached, 1.30/£ is next and may well occur in the weeks to come, even if very briefly. In short, I don't see a massive retrace back down below 1.25, but of course I can be and have been wrong in the past!!
Link to comment
Share on other sites

[quote user="AnOther"]As ever there are two ideal times to buy or sell currency - yesterday and tomorrow !

[/quote]

Avoid any time when I am moving money - it's not that the amounts involved are big enough to affect the market (I wish!) but I invariably exchange on what turns out with hindsight to be a particularly bad day.

Link to comment
Share on other sites

Apparently the Swiss National Bank has removed the artificially imposed floor of 1.20 euros / CHF which they've operated through the currency markets for 3 years, the result of which has seen the swiss franc and euro virtually at 1 = 1 today. The pound has been less affected by this news, so this amongst other things has pushed the euro / £ rate through 1.30. Interesting times, a far cry from fellow forum user Jako's predictions of £1 = 0.50 euros, admittedly made a couple of years ago (told you Jako....)
Link to comment
Share on other sites

[quote user="Tom 58"]What the rate will be in July must surely depend upon the elections in Greece tomorrow and our general election this spring, let alone any other unforeseen events. Even still 1.55 seems highly unlikely.

Tom[/quote]

The result will be in at about 10pm tonight .......This looks like the way it will be  

Things might just move faster than expected ...interesting times ....

http://www.bbc.co.uk/news/world-europe-30975437

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...