When will £1GBP be worth 1.20 Euros?

bery_451

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 :eek:

vouch0r

possibly tomorrow.

you cant predict the value of currency otherwise youd be very very very...rich

ColdIron

It's your prediction, why don't you tell us?

bery_451

When something hits all time low surely it cant get lower unless the £ is hopeless.

dividendhero

vouch0r wrote: »

possibly tomorrow.

you cant predict the value of currency otherwise youd be very very very...rich

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

dividendhero wrote: »

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

Dont understand whats the $dollar got to do with Brexit?

TheShape

bery_451 wrote: »

When something hits all time low surely it cant get lower unless the £ is hopeless.

It could go lower than the previous all time low and reach a new all time low.

mark5

bery_451 wrote: »

Dont understand whats the $dollar got to do with Brexit?

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

bery_451 wrote: »

£Pound is at all time low now against EURO

Not yet, it would have to match levels seen 2008/2009 and then go lower than that

Thrugelmir

mark5 wrote: »

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.

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.

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