Euro (€) Currency Thread

harryhound

I see that this "quantitive easing" business means turning debt into printed currency and giving a big chunk of it to foreigners.

Is it any surprise these foreigners want to dump it?

rolo1_2

Greeting to all. I have a quick question if some-one would be so kind as to advise.

I am due to go on Holiday to France in June, is now a good time to buy Euros?, if not when is rate likely to improve. If answer is yes any advice on best outlet to buy from. Many Thanks in advance.

dzug1

rolo1 wrote: »

Greeting to all. I have a quick question if some-one would be so kind as to advise.

I am due to go on Holiday to France in June, is now a good time to buy Euros?, if not when is rate likely to improve. If answer is yes any advice on best outlet to buy from. Many Thanks in advance.

1 don't know
2. nobody knows - it fluctuates unpredictably
3. ignoring exchange rate fluctuations, an ATM in France when you get there

inspector_monkfish

dealsearcher wrote: »

My point was that sterling is an easy target at present. They can mess with it because it is a weak currency with no protection.

It's the governments job to protect the currency. They are failing badly.

true enough

i guess the market is seeing GBP as a nice easy target to get a little profit back on the books !

dealsearcher

If you read back through the thread a bit you will see that the prediction is for the euro to weaken by the summer. However the prediction was for it to weaken against the pound already and yet the reverse has happened.

(Edited to say this refers to rolo1's post.)

inspector_monkfish

08:01 16Mar09 EUR/GBP: Drops to Threaten Friday"s NY Session Low of 0.9177

[08:00 EUR/GBP: Drops to Threaten Friday"s NY Session Low of 0.9177] London,
March 16. EUR/GBP has dropped to threaten 0.9177 (Friday"s NY session low) in
early European trade, as the pound benefits from the Barclays disclosure that its
businesses have made a "strong start" to 2009, and its confirmation that it has
held discussions with a number of potentially interested parties re: the possible
disposal of GBP 5bn-valued iShares (Reuters).

Profit-taking on long positions was flagged as a factor in the EUR/GBP fall
from 0.9242 to a low of 0.9186 in Asia today. The cross scaled a three-week peak
of 0.9320 last Thursday (following the SNB"s Monetary Policy Assessment). 0.9299
was Friday"s early Europe intra-day high. 0.9166 was Friday"s three-day low
(plumbed late in the European morning).

inspector_monkfish

trading at 1.0890

inspector_monkfish

09:35 16Mar09 GBP supported by rally in financial stocks

(GBP) GBP seen supported by a rally in financial stocks led by news that
Barclays bank may sell its iShares unit and thus avoid subscribing to the
govt's asset protection scheme. Cable has rallied to hit 1.4160 (one-week high)
while EUR/GBP has fallen to 0.9150, sharply off earlier opening levels around
0.9210, and eyeing downside support at 0.9105 (200-hour ma).

inspector_monkfish

trading at 1.0915

dealsearcher

So is the pound finally following the predicted path of regaining against the euro? Or is this just a blip?