Help-resolve arguement over euros

Melc234

Oh and I are debating over euros, go on holiday 5th of May. He wants to buy just now, i want to hold on due to euro rising. Whats the general advice, thanks

Incapuppy

My crystal ball predicts that you probably have an equally good chance of being correct

inflationbusting

Has been on the uptrend since the record lows in March, I suspect partially as a result of the reduced disparity of interest rates. The eurozone rate is expected to be cut to 1pc in May, which may keep this trend going, however this might be already priced in.

But who knows? Anything can happen and of course exchange rates are based on multiple factors.

As long as you're not spending thousands, the risk is likely to be very small, maybe £10-20 variation if you buy now and rates rise by a couple of percent. And this gain can be wiped out by exchanging at the wrong place (such as the airport).

If you want to hedge the risk, why not change half now and half later?

richardw

How many euros do you want to buy?

omelette451

Do you have a Nationwide debit card, as all sensible travellers do? If so, you're wasting your time even thinking of this - just use it in a cash machine when you get there. Even if you don't, debit cards and ATMs are generally the easiest way to get euros. Commission charges (whether open or hidden) are likely to wipe out any possible saving that could be gained changing money a month before your trip.

whatusername

Don't go, get a wee pontins caravan and spend sterling.

If you don't fancy that i'd keep holding off

inspector_monkfish

Melc234 wrote: »

Oh and I are debating over euros, go on holiday 5th of May. He wants to buy just now, i want to hold on due to euro rising. Whats the general advice, thanks

you only have 3weeks, so you might as well wait and have heaps of fun watching it

its had a nice little rally up to 1.1340 today in the forex markets

dzug1

You will only be able to tell who was right in retrospect

neilbond007

dzug1 wrote: »

You will only be able to tell who was right in retrospect

i thought retrospect was in turkey, and they don't use the euro... oh boy.. now i'm confused...

odowdchr

Melc234 wrote: »

Oh and I are debating over euros, go on holiday 5th of May. He wants to buy just now, i want to hold on due to euro rising. Whats the general advice, thanks

Buy half now, half later.