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  • FIRST POST
    • bery_451
    • By bery_451 1st Sep 17, 6:20 PM
    • 971Posts
    • 27Thanks
    bery_451
    When will 1GBP be worth 1.20 Euros?
    • #1
    • 1st Sep 17, 6:20 PM
    When will 1GBP be worth 1.20 Euros? 1st Sep 17 at 6:20 PM
    Hi,

    Pound is at all time low now against EURO, however I believe value will steadily climb from here back to 1.20EURO levels? If so when do you guys thinks it will be worth that?

    2019 is Brexit, Surely the GBP can't keep on crashing until then? If so at this declining rate 1 will be worth 0.50 Euros
Page 1
    • vouch0r
    • By vouch0r 1st Sep 17, 6:30 PM
    • 179 Posts
    • 34 Thanks
    vouch0r
    • #2
    • 1st Sep 17, 6:30 PM
    • #2
    • 1st Sep 17, 6:30 PM
    possibly tomorrow.

    you cant predict the value of currency otherwise youd be very very very...rich
    • ColdIron
    • By ColdIron 1st Sep 17, 6:34 PM
    • 3,375 Posts
    • 3,949 Thanks
    ColdIron
    • #3
    • 1st Sep 17, 6:34 PM
    • #3
    • 1st Sep 17, 6:34 PM
    It's your prediction, why don't you tell us?
    • bery_451
    • By bery_451 1st Sep 17, 7:10 PM
    • 971 Posts
    • 27 Thanks
    bery_451
    • #4
    • 1st Sep 17, 7:10 PM
    • #4
    • 1st Sep 17, 7:10 PM
    When something hits all time low surely it cant get lower unless the is hopeless.
    • dividendhero
    • By dividendhero 1st Sep 17, 7:18 PM
    • 92 Posts
    • 68 Thanks
    dividendhero
    • #5
    • 1st Sep 17, 7:18 PM
    • #5
    • 1st Sep 17, 7:18 PM
    possibly tomorrow.

    you cant predict the value of currency otherwise youd be very very very...rich
    Originally posted by vouch0r
    While it's very difficult to predict short term currency moves, the long term trend of the pound against hard currencies like the US dollar, Swiss Franc and Euro is downwards and up against the likes of the Turkish Lira
    • bery_451
    • By bery_451 1st Sep 17, 7:20 PM
    • 971 Posts
    • 27 Thanks
    bery_451
    • #6
    • 1st Sep 17, 7:20 PM
    • #6
    • 1st Sep 17, 7:20 PM
    While it's very difficult to predict short term currency moves, the long term trend of the pound against hard currencies like the US dollar, Swiss Franc and Euro is downwards and up against the likes of the Turkish Lira
    Originally posted by dividendhero
    Dont understand whats the $dollar got to do with Brexit?
    • TheShape
    • By TheShape 1st Sep 17, 7:43 PM
    • 1,011 Posts
    • 770 Thanks
    TheShape
    • #7
    • 1st Sep 17, 7:43 PM
    • #7
    • 1st Sep 17, 7:43 PM
    When something hits all time low surely it cant get lower unless the is hopeless.
    Originally posted by bery_451
    It could go lower than the previous all time low and reach a new all time low.
    • mark5
    • By mark5 1st Sep 17, 8:01 PM
    • 1,186 Posts
    • 801 Thanks
    mark5
    • #8
    • 1st Sep 17, 8:01 PM
    • #8
    • 1st Sep 17, 8:01 PM
    Dont understand whats the $dollar got to do with Brexit?
    Originally posted by bery_451
    The negative views of traders against us leaving the EU makes the less desirable against other currencies.

    My personal opinion is that the is lower than it should be but
    I still expect it to fall further before it starts to go up again.

    A lot of the EU countries have bigger financial problems than us which makes a bit of a joke of the euro's strength at the moment.

    From a work point of view I would prefer a weak against the euro although it did mean I needed to change a bit more money for holiday last month, my own preference would be about 1.20 so imported goods and holidays are not to expensive while our exports remain competitive.

    I do wonder sometimes if bankers, traders etc outside the EU really understand what the EU is, what Brexit is, how it works, I'm sure some of them think we are about to become something similar to 1970's USSR!
    • ColdIron
    • By ColdIron 1st Sep 17, 8:10 PM
    • 3,375 Posts
    • 3,949 Thanks
    ColdIron
    • #9
    • 1st Sep 17, 8:10 PM
    • #9
    • 1st Sep 17, 8:10 PM
    Pound is at all time low now against EURO
    Originally posted by bery_451
    Not yet, it would have to match levels seen 2008/2009 and then go lower than that
    • Thrugelmir
    • By Thrugelmir 1st Sep 17, 10:37 PM
    • 55,155 Posts
    • 48,346 Thanks
    Thrugelmir


    A lot of the EU countries have bigger financial problems than us which makes a bit of a joke of the euro's strength at the moment.
    Originally posted by mark5
    Add the growing indebtedness of UK consumers into the mix and the picture looks different. Growth is coming at a long term cost. The music one day will stop. There's no longer high inflation and corresponding wage increases to make the debt disappear.
    Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell. Sir John Marks Templeton
    • sjp999
    • By sjp999 1st Sep 17, 11:02 PM
    • 5 Posts
    • 5 Thanks
    sjp999
    It is guaranteed to hit 1.20 the day after I get 1.06 - for the princely sum of one pound (each of course), I'll let you know when I intend to make my next transaction
    • redpete
    • By redpete 2nd Sep 17, 7:55 AM
    • 4,116 Posts
    • 3,632 Thanks
    redpete
    20th Feb 2021
    loose does not rhyme with choose but lose does and is the word you meant to write.
    • PeacefulWaters
    • By PeacefulWaters 2nd Sep 17, 8:23 AM
    • 6,842 Posts
    • 8,428 Thanks
    PeacefulWaters
    What a ridiculous question.
    • Glen Clark
    • By Glen Clark 2nd Sep 17, 11:37 AM
    • 3,822 Posts
    • 2,792 Thanks
    Glen Clark
    A lot of the EU countries have bigger financial problems than us
    Originally posted by mark5
    That may be so but they are not about to leave the EU.
    Our problem is the exporters that underpin the value of the pound - like car manufacturers, depend on components flowing freely back and forth across the channel. The thought of foreign customs officers being able to bring their production lines to a halt is enough to give everyone the jitters.
    It is difficult to get a man to understand something, when his salary depends on his not understanding it. --Upton Sinclair
    • Gadfium
    • By Gadfium 2nd Sep 17, 3:38 PM
    • 624 Posts
    • 1,159 Thanks
    Gadfium
    2019 is Brexit, Surely the GBP can't keep on crashing until then? If so at this declining rate 1 will be worth 0.50 Euros
    Originally posted by bery_451
    Why not?
    People were saing not that long ago that the FTSE had peaked, that it wouldn't hit 7000 and if it did it would crash, that the rise couldn't continue, etc, etc. Yet here we are at over 7400.

    Personally I think that the has a lot further to drop. Davis and his bunch are making a pig's ear of the Brexit negotiations and they are only at the beginning, May's government is weak and the sound of sharpening knives is getting louder by the day. Consumer debt is growing by the minute and the next financial scandal (car finance) is just around the corner.
    • Gadfium
    • By Gadfium 2nd Sep 17, 3:39 PM
    • 624 Posts
    • 1,159 Thanks
    Gadfium
    20th Feb 2021
    Originally posted by redpete
    at exactly 3:43PM...
    • Thrugelmir
    • By Thrugelmir 2nd Sep 17, 3:46 PM
    • 55,155 Posts
    • 48,346 Thanks
    Thrugelmir
    Why not?
    Originally posted by Gadfium
    Correlation with other currencies.
    Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell. Sir John Marks Templeton
    • steampowered
    • By steampowered 2nd Sep 17, 4:03 PM
    • 1,681 Posts
    • 1,610 Thanks
    steampowered
    It can certainly get lower.

    It dropped an enormous amount as a result of the Brexit vote. And has continued dropping steadily since then largely due to lack of any sensible progress in negotiations. I imagine it will continue sinking until some sort of an arrangement is reached.
    • dividendhero
    • By dividendhero 2nd Sep 17, 6:15 PM
    • 92 Posts
    • 68 Thanks
    dividendhero
    It can certainly get lower.

    It dropped an enormous amount as a result of the Brexit vote. And has continued dropping steadily since then largely due to lack of any sensible progress in negotiations. I imagine it will continue sinking until some sort of an arrangement is reached.
    Originally posted by steampowered
    Don't want to turn this into a political thread, but can't see any deal on the horizon that won't result in the pound falling even further. The best the UK can hope for is some kind of transitional arrangement that delays the damage.

    I know politicians are talking of trade deals with the rest of the world - but this seems to be more about UK imports. The UK current account deficit is already huge and is being financed by selling assets - everything from football clubs to London property is up for grabs. Hence my focus is on putting my own money overseas...
    • jimjames
    • By jimjames 2nd Sep 17, 6:32 PM
    • 12,008 Posts
    • 10,447 Thanks
    jimjames
    Dont understand whats the $dollar got to do with Brexit?
    Originally posted by bery_451
    If the UK economy is screwed by Brexit then the will be worth less against other currencies
    Remember the saying: if it looks too good to be true it almost certainly is.
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