Tom 58 Posted January 14, 2015 Share Posted January 14, 2015 13 Jan 2015 12:15 UTC - 14 Jan 2015 12:29 UTCGBP/EUR close:1.29141 low:1.28524 high:1.29261The pound is now at its best rate against the euro since nearly eight years. Which way will it go now?Tom Link to comment Share on other sites More sharing options...
woolybanana Posted January 14, 2015 Share Posted January 14, 2015 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 More sharing options...
Tom 58 Posted January 14, 2015 Author Share Posted January 14, 2015 If the Eurozone begins a programme of bond buying which it has apparently been cleared to do then the euro will strengthen. ??? But that will amount to QE which should devalue the Euro.Tom Link to comment Share on other sites More sharing options...
AnOther Posted January 14, 2015 Share Posted January 14, 2015 As ever there are two ideal times to buy or sell currency - yesterday and tomorrow ! Link to comment Share on other sites More sharing options...
PaulT Posted January 14, 2015 Share Posted January 14, 2015 Ernie that Law applies to anything and everything :) Link to comment Share on other sites More sharing options...
idun Posted January 14, 2015 Share Posted January 14, 2015 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 More sharing options...
idun Posted January 14, 2015 Share Posted January 14, 2015 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 More sharing options...
woolybanana Posted January 14, 2015 Share Posted January 14, 2015 You can see she is overexcited, Tom; always presses twice when money is mentioned!!!! Link to comment Share on other sites More sharing options...
Daft Doctor Posted January 14, 2015 Share Posted January 14, 2015 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 More sharing options...
Pickles Posted January 14, 2015 Share Posted January 14, 2015 [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 More sharing options...
Daft Doctor Posted January 15, 2015 Share Posted January 15, 2015 Wow, I didn't think it would happen that quickly, the rate touched 1.3011 euros/£ this morning. I'm not clairvoyant, honestly............ Link to comment Share on other sites More sharing options...
vette Posted January 15, 2015 Share Posted January 15, 2015 And it's now 1.3031.As my money is all paid into a UK account this is great news. Link to comment Share on other sites More sharing options...
Daft Doctor Posted January 15, 2015 Share Posted January 15, 2015 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 More sharing options...
Frederick Posted January 15, 2015 Share Posted January 15, 2015 Just when I decide the time has come to cut back on the consumption of the bottles of red ....the stuff gets cheaper ...Its a cruel world ! Link to comment Share on other sites More sharing options...
vette Posted January 15, 2015 Share Posted January 15, 2015 Same here Frederick. I think my Bentley will get a lot more use with the way petrol has come down in price too.Happy days. Link to comment Share on other sites More sharing options...
Martin963 Posted January 23, 2015 Share Posted January 23, 2015 1.32 to the £ this morning. Link to comment Share on other sites More sharing options...
Martin963 Posted January 23, 2015 Share Posted January 23, 2015 and now 1.33 to the £. Link to comment Share on other sites More sharing options...
PaulT Posted January 23, 2015 Share Posted January 23, 2015 at noon it was 1.345...waiting for it to get to 1.485 that it was when we bought. Link to comment Share on other sites More sharing options...
Dave sting Posted January 24, 2015 Share Posted January 24, 2015 it claims today in the Daily mail the exchange rate forecast for July 2015 will be 1.55 euro to the pound, I will save some money back till then, bet something will change to effect the forecast nearer July, could be they are just trying to drum up tourist trade. Link to comment Share on other sites More sharing options...
Tom 58 Posted January 24, 2015 Author Share Posted January 24, 2015 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 Link to comment Share on other sites More sharing options...
crakpot Posted January 24, 2015 Share Posted January 24, 2015 I remember 10 francs to the pound that's when I agreed to buy my first property unfortunately when I had to pay it was 8.5 francs we have been near parity since and I am looking forward to 1.54 euros to the pound, as it once was Link to comment Share on other sites More sharing options...
Tom 58 Posted January 24, 2015 Author Share Posted January 24, 2015 "I remember 10 francs to the pound "I remember circa1,600 francs to the pound!!Tom Link to comment Share on other sites More sharing options...
Frederick Posted January 25, 2015 Share Posted January 25, 2015 [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 More sharing options...
idun Posted January 25, 2015 Share Posted January 25, 2015 Tom you must be rather old to remember 1600ff to the pound. Or you had a very iffy fx dealer. I always liked the idea of 10ff to the £ although we rarely had that. Link to comment Share on other sites More sharing options...
woolybanana Posted January 25, 2015 Share Posted January 25, 2015 Well, given the Greek result, tomorrow should be interesting on the money and stock markets.But sterling could also have a nasty little cirsis mid-year, especially if there is a Labour/Scots Nats coalition. Link to comment Share on other sites More sharing options...
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