Should we buy Euros now? (1 Viewer)

Jim

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Where's the Pound headed, all this doom and gloom talk about the sinking quid and parity with the Euro inevitable. Are you buying it and buying Euros now, or gonna wait and see?
 

keith

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If I knew the answer I could be a very rich man. :ROFLMAO::ROFLMAO:
 

Techno

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I doubt it will improve this year, it may continue to worsen.

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Geo

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Im in the process of listing some on e-bay
they are paying approx one pound for one Euro plus postage thats amost 25% profit on what i bought at
Why??? cant they do maths:ROFLMAO:they'd do better at any other exchange outlet:Doh:
 

Snowbird

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I maxed out the Caxton card when it was 1.21. I thought at the time if I was doing the right thing, but it seems I was right for once. I know I could have left it in the bank, but was getting nothing from them, At the minute its made around 10% :thumb:. I dont see sterling doing anything much different in the near future.

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Welsh girl

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I didn't max out the Caxton card but I did put quite a bit on yesterday in readiness for our trip next month at 1.13 ero don't like putting to much though as don't like all my eggs in one basket just in case I lose the card or get it stolen
 

Techno

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I didn't max out the Caxton card but I did put quite a bit on yesterday in readiness for our trip next month at 1.13 ero don't like putting to much though as don't like all my eggs in one basket just in case I lose the card or get it stolen

Caxton always finishes low and starts the day low, rising again through the day. Usually best time to buy is after 14:00 it is already at 1.1310 at 9:40
 

JeanLuc

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For the sums involved in our own relatively short European trips I shall not bother to make any switches at the moment. I think there will be a lot of turmoil following the Italian election result. With an ungovernable third euro economy that has a huge public debt and an election due in Germany this autumn, I can only foresee a likelihood of downward pressure on the €. I think the recent bounce resulted from relief that the euro zone seemed to have pulled back from the brink and had got the fragile countries in some sort of order. However, with Beppe Grillo now at the head of the largest single 'party' in Italy, having campaigned on a platform of no more austerity and an end to traditional politics, and holding the balance of power, I can see the money markets punishing Italy with unsustainable borrowing costs. Italy is too big for the rest of the euro zone to bail out so I for one will not be investing anything in euros soon.
If you really want to hedge your options (and it's probably not worth doing unless you are talking about a sizeable sum) you could consider buying US$ now and convert them to € when needed. The US$ is likely to remain strong against both £ and € (see charts attached) since it is a key 'holding currency'. That, of course, assumes that the President and Congress come to an accommodation before the sequester kicks in in on 1st March.

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Attachments

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ukbill

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the euro now depends on what the outcome of the italian elections are if the outcome is undecided then the pound may bounce back against the euro
 

s7ev0

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Don't buy Euros - stay in the UK! :thumb:

Steve :Smile:

Vested interest? What vested interest? :ROFLMAO:
 

ukbill

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Don't buy Euros - stay in the UK! :thumb:

Steve :Smile:

Vested interest? What vested interest? :ROFLMAO:

but to stay in the uk at the prices they charge it would still be cheaper to go abroad if the euro and pound was 1 for 1 :ROFLMAO::ROFLMAO::ROFLMAO:

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On exchange rates in general, I can't fathom it out if USA is supposed to be in deep do do as we are, why is the pound losing out against the dollar as well as the € .
 

Snowbird

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On exchange rates in general, I can't fathom it out if USA is supposed to be in deep do do as we are, why is the pound losing out against the dollar as well as the € .

Am of the opinion that its something to do with bankers and governments. I could be wrong though, as I often am :RollEyes:
 

s7ev0

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but to stay in the uk at the prices they charge it would still be cheaper to go abroad if the euro and pound was 1 for 1 :ROFLMAO::ROFLMAO::ROFLMAO:

You are of course right.

It does, however, depend on where you stopover :winky:

Steve :Smile:

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Pound is loosing against the dollar because oil prices are in dollars and thats hitting the £.

i loaded caxton card at 1.21 then again last week at 1.15 holding my breath today before putting a bit more on. the effects of the Italian election outcome are anyones guess:Doh: do they really know what they are in for.:Doh:
be an interesting arm wrestle between Angela Mercel and Beppe Grillo:Eeek:
 

Spottycatz

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Still making mistakes! But they're not as costly.
I've just retired after trading currency amongst other assets after 19 years in the industry. If I could have second guessed the market during that time, I would have got out a lot earlier. :winky:
I would say that in the short term, the pound will remain around the 1 to 1.10 against the Euro, however, I will be waiting till later in the year to exchange my Sterling, as we are not travelling to France and Spain till August and I think that the rate will be slightly better then. :thumb:
 
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i see the rate is now 1.131 on caxton at this moment.. will wait to buy a few:thumb:

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Techno

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I doubt it will top 1.1350 at best before dropping again today

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redchad

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The eurozone problems haven't gone away, it won't be long until Greece & spain start to have more problems which will have a knock on effect on the exchange rate so I'd wait awhile and just get what you need when you need it
 

Techno

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Caxton always finishes low and starts the day low, rising again through the day. Usually best time to buy is after 14:00 it is already at 1.1310 at 9:40

Now 1.1320 at 11.52

Just dropped to 1.13 at 12.07 maybe that's it today for rises? I think it will go up again yet today
 
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scousebird

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I can remember getting 1.5 euros to the pound, and we've also got 1 euro to the pound in the past. Can't predict it, can't do anything about it but we'll still have our holiday :thumb:

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haganap

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Watch little Cyprus throw a spanner in the works and watch the pound climb....
 

Techno

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It already did Paul, it was below 1:12 a few days ago

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