AnOther Posted July 23, 2008 Share Posted July 23, 2008 Those who are interested might like to know that the rate at this instant is a heady 1.27 God only knows why [8-)] Link to comment Share on other sites More sharing options...
cooperlola Posted July 23, 2008 Share Posted July 23, 2008 http://www.ft.com/cms/s/0/32ef5472-5899-11dd-a093-000077b07658.html Link to comment Share on other sites More sharing options...
powerdesal Posted July 23, 2008 Share Posted July 23, 2008 I think the rise is because the UK Govt all went on holiday last night, the markets have realised that for ten weeks at least the Govt can't screw up anything else. Link to comment Share on other sites More sharing options...
Pierre ZFP Posted July 23, 2008 Share Posted July 23, 2008 [:D][:D][:D]It's not such good news for me though [+o(] Link to comment Share on other sites More sharing options...
AnOther Posted July 23, 2008 Author Share Posted July 23, 2008 Coops, if the committee of supposed 'wise men and experts' are so undecided which way to lurch I'd have expected Sterling to react negatively.Just goes to show what confused times we are live in [:'(] Link to comment Share on other sites More sharing options...
WJT Posted July 23, 2008 Share Posted July 23, 2008 I refuse to get excited, the last time it reached 1.27 it was short lived and of course didn't continue to climb like we need it to. If it ever goes back to the 1.50's level, I will definitely join in.[:D]Pierre, if the weak pound is good news for you, then you really should keep schtum over loosing one or two measly pence after being up almost 20% for a long while now! [6][:D] Link to comment Share on other sites More sharing options...
powerdesal Posted July 23, 2008 Share Posted July 23, 2008 Is it the pound getting stronger or the Euro getting weaker?I need a strong US Dollar and a weak pound for the next few weeks, so I am with Pierre on this one (at the moment) Link to comment Share on other sites More sharing options...
Dave&Olive Posted July 23, 2008 Share Posted July 23, 2008 hi ok heard rumors that the Arabs are looking at fixing oil prices in € `s not dollars that could screw things up ??? Dave Link to comment Share on other sites More sharing options...
AnOther Posted July 23, 2008 Author Share Posted July 23, 2008 I think the talk is of pegging against a basket of currencies rather than the Euro.Kuwait decoupled from the $ last year. Link to comment Share on other sites More sharing options...
powerdesal Posted July 23, 2008 Share Posted July 23, 2008 The decoupling was discussed very recently at a GCC conference, there had been a study done and the recommendation was to NOT decouple. It had been expected in the the new year 2009 but has now been put on hold (if you believe them). That does not mean it wont happen, I suspect it was to put pressure on the USA to get the value of the dollar up rather than being happy to let it stay low. Link to comment Share on other sites More sharing options...
Sprogster Posted July 23, 2008 Share Posted July 23, 2008 Current spot rate now 1.2735.Another reason for Euro weakness is reducing oil price and an IMF report citing the currency as being fundamentally overvalued. Link to comment Share on other sites More sharing options...
mint Posted July 23, 2008 Share Posted July 23, 2008 Hi guys, you mean that whilst I was shovelling ready-mix concrete today in the hot sun for something like 4 hours, sterling rose against the euro and I could have maybe afforded to pay someone to do the work?Life is just so unpredictable, isn't it?[I] Link to comment Share on other sites More sharing options...
sueyh Posted July 24, 2008 Share Posted July 24, 2008 Steady on now Sweet 17 - I think perhaps a bit too much sun. Best bit of our day was that we drove past the petrol station yesterday at Hesdin Intermarche and the cost of diesel was 1.38......! Now how sad is that - to get excited by the price of a litre of diesel.Suey Link to comment Share on other sites More sharing options...
AnOther Posted July 24, 2008 Author Share Posted July 24, 2008 [quote user="sweet 17"]I was shovelling ready-mix concrete today in the hot sun[/quote]A mental image of someone wielding a shovel, dressed in a bikini, with a floppy hat, gloves and wellies just flashed through my mind sweets [:-))] Link to comment Share on other sites More sharing options...
Val_2 Posted July 24, 2008 Share Posted July 24, 2008 My daughter sent some euros back to deposit here for when she comes home and the UK Post Office rate on monday was only 1.18. Link to comment Share on other sites More sharing options...
cooperlola Posted July 24, 2008 Share Posted July 24, 2008 It's dropping back down again this morning, I see. What's that maxim of yours again Ernie?......... Link to comment Share on other sites More sharing options...
Iceni Posted July 24, 2008 Share Posted July 24, 2008 on Ernie's behalf1. what goes up can quickly go down again2. even a dead cat bounces Unless you are in the biz of forex trading, don't keep looking at the rates as you will only upset yourself.John Link to comment Share on other sites More sharing options...
Sprogster Posted July 24, 2008 Share Posted July 24, 2008 Val 2, your daughter was given a tourist rate of exchange. It is all a bit of a scam really as most banks and the post office now promote commission free bureau de change services, but what they don't highlight is what you save on commission you lose on the rate given as they take a ridiculous spread. For example, if the spot rate is 1.27, the bank will probably sell euros at 1.20 and buy them at 1.35! There is a way to get the much better market spot forex rate and that is to ask your UK bank to make a SWIFT electronic transfer from your UK bank account direct to a French euro bank account.There is much worse than expected news about the state of the Eurozone economies published this morning, with Germany, France and Italy reporting sharp declines in business confidence, so expect further downward pressure on the euro. http://www.ft.com/cms/s/0/b5b7b9ee-5961-11dd-90f8-000077b07658.html Link to comment Share on other sites More sharing options...
cooperlola Posted July 24, 2008 Share Posted July 24, 2008 I did get 1.27 with the Nationwide card yesterday afternoon, though.[:)] Keeping an eye on the rates is very useful if you get your day to day cash in this way. Link to comment Share on other sites More sharing options...
mint Posted July 24, 2008 Share Posted July 24, 2008 [quote user="ErnieY"][quote user="sweet 17"]I was shovelling ready-mix concrete today in the hot sun[/quote]A mental image of someone wielding a shovel, dressed in a bikini, with a floppy hat, gloves and wellies just flashed through my mind sweets [:-))] [/quote]Is it my imagination, Erns, or is it true that your imagination is getting a mite feverish nowadays? Link to comment Share on other sites More sharing options...
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