Should we buy Euros now?

Discussion in 'Continental Touring' started by Jim, Feb 26, 2013.

  1. Jim

    Jim Ringleader

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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?
     
  2. keith

    keith Funster

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    If I knew the answer I could be a very rich man. :Rofl1::Rofl1:
     
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  3. Techno

    Techno Funster Life Member

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

    Geo Trader - Funster

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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:Rofl1:they'd do better at any other exchange outlet:Doh:
     
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  5. icantremember

    icantremember Funster

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    The exchange rate for the Euro has improved slightly this morning probably due to the disarray in the Italian elections .... maybe it will go further:thumb:
     
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  6. Snowbird

    Snowbird Funster Life Member

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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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  7. Welsh girl

    Welsh girl Funster Life Member

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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
     
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  8. Techno

    Techno Funster Life Member

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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
     
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  9. JeanLuc

    JeanLuc Funster

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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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    Last edited: Feb 26, 2013
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  10. ukbill

    ukbill Funster

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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
     
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  11. BritStops

    BritStops Trader BritStop Owner

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

    Steve :Smile:

    Vested interest? What vested interest? :Rofl1:
     
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  12. ukbill

    ukbill Funster

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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 :Rofl1::Rofl1::Rofl1:
     
  13. Gooney

    Gooney Funster

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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 € .
     
  14. Snowbird

    Snowbird Funster Life Member

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

    BritStops Trader BritStop Owner

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    You are of course right.

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

    Steve :Smile:
     
  16. Phill D

    Phill D

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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:
     
  17. Spottycatz

    Spottycatz Read Only Funster

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    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. :Wink:
    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:
     
  18. Phill D

    Phill D

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    i see the rate is now 1.131 on caxton at this moment.. will wait to buy a few:thumb:
     
    Last edited: Feb 26, 2013
  19. Techno

    Techno Funster Life Member

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    Should've gone to specsaver
    Edit I see you've edited the 1.1619 lol
     
    Last edited: Feb 26, 2013
  20. Phill D

    Phill D

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    correct looked at the bank rate not the loading rate :Doh::Doh::Rofl1: at least i realised before parting with the cash:Eeek:
     

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