JohnRoss Posted October 28, 2008 Share Posted October 28, 2008 So when would you move some dosh across to France from the UK, before or after the American election?................JR Link to comment Share on other sites More sharing options...
Logan Posted October 28, 2008 Share Posted October 28, 2008 I do not think the outcome of the US election will effect the Sterling/Euro rate very much. The Dollar has strengthened recently because market sentiment thinks recovery will come to the US sooner than the Eurozone. Unless you really need to change your Sterling holdings now, I would keep it where it is. You should earn 6% on capital in UK as opposed to 4% in Euros. Link to comment Share on other sites More sharing options...
Polremy Posted October 28, 2008 Share Posted October 28, 2008 Thank you, logan, for a very helpful post. I am biased actually. Our surname is Logan!! Link to comment Share on other sites More sharing options...
JohnRoss Posted October 28, 2008 Author Share Posted October 28, 2008 Ok folks and thanks. Looks as if we could afford to wait a bit.........................JR Link to comment Share on other sites More sharing options...
M Posted October 28, 2008 Share Posted October 28, 2008 There are several banks currently offering 6% or better - even Tesco currently pays 6.5% on its internet saver account. I have just taken out a 1 year fixed term bond with Anglo Irish bank at 7.02% gross. And yes, it is fully guaranteed by the Irish government and up to £100,000 by the UK government (joint account), since it is an Irish bank which is also regulated by the FSA in the UK.M Link to comment Share on other sites More sharing options...
Logan Posted October 29, 2008 Share Posted October 29, 2008 In my view a capital investment in Sterling is preferable at the moment to one in Euros. Moving your Sterling now into Euros will attract an immediate 20% depreciation on the exchange value of 12 months ago. It may now be some time before that value returns but return it will. In the meantime if you don't need your capital in Euros a comfortable sterling investment should gain 6% annually. That may drop slightly as interest rates fall but the pro-rata rate in Europe will also do the same.Trust is a subjective word but if you have no 'trust' in financial institutions keeping your cash 'under the bed' is the only option. Not a oood idea. Link to comment Share on other sites More sharing options...
Sprogster Posted October 29, 2008 Share Posted October 29, 2008 "studied the sterling/euro rate for ten years". Has the euro existed for that long! Link to comment Share on other sites More sharing options...
Sunday Driver Posted October 29, 2008 Share Posted October 29, 2008 The euro was introduced to world financial markets as an accounting currency in 1999 and launched as physical coins and banknotes on 1 January 2002.....[;-)] Link to comment Share on other sites More sharing options...
JohnRoss Posted October 29, 2008 Author Share Posted October 29, 2008 The Sterling I was thinking of moving here in Euros is curently held in Isle of Man accounts and there have been some posts suggesting that such accounts are a bit dodgy as the compensation scheme is very inferior to that in the UK..........................JR Link to comment Share on other sites More sharing options...
parsnips Posted October 29, 2008 Share Posted October 29, 2008 [quote user="Sprogster"]"studied the sterling/euro rate for ten years". Has the euro existed for that long![/quote] No, but do you remember the EMU which was the notional equivalent when the UK was in the ERM? Link to comment Share on other sites More sharing options...
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