Euro (€) Currency Thread

inspector_monkfish

1.1220 this morning

retail sales data due at 9.30am

inspector_monkfish

sold off overnight, after GBP daming Wall Street Journal article

1.1115 trading

http://online.wsj.com/article/SB125322540936721049.html

inspector_monkfish

15:13 18Sep09 STERLING EXTENDS BROAD LOSSES, FALLS MORE THAN 1 PCT ON DAY VS DOLLAR TO 2-WEEK LOW $1.6266 <GBP=D4>

15:21 18Sep09 Sterling extends losses, falls 1 pct on day vs dollar

LONDON, Sept 18 (Reuters) - Sterling extended losses on Friday, falling more than a full percent on the day against the dollar as traders continued to dump the pound due to ongoing concerns about the UK banking sector, and following grim UK public borrowing figures.

Sterling <GBP=D4> fell more than 1 percent on the day to $1.6261 to hit its weakest level in roughly two weeks.

The euro <EURGBP=D4> added to its rally, climbing 0.8 percent on the day to 90.33 pence, its highest since mid-May.

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currently trading at 1.1065

fernlea

Wonder if someone could give me some advise re Euros. We've not been abroad for a few years and we are a bit out of touch with exchanging £ to euros. Should we wait till we get to Spain and exchange there, or is it more benificial to get them here before we go?

Another option is we have a Nationwide current account that we don't use much and we could pay the money into it and then use the card over there as they have 0% charges.

Thanks in advance,
Lynn

inspector_monkfish

1.1035 trading this morning


08:23 21Sep09 Eur/Gbp: 5-month 0.9079 best, Pound bears eye a lot higher

The
approximate four cent rise in the last week or so has largely been an
anti-Gbp move, the cross a beneficiary of the market's concerns over UK
QE, debt levels and the state of the financial institution system. The
Telegraph scaremongers the Pound 'will fall to parity with Euro' and cites
renewed concern over the state of the British banking system. Some
institutions are talking 0.9500 in the next 6 months too, as Gbp bears
begin to find their voice. Perhaps surprisingly, the losses and the
negative press driver have come at the same time as some fairly
encouraging UK numbers, particularly in housing. Today Rightmove reported
house prices rose 0.6% m/m. Nearer-term, the 0.9080/90 and 0.9100/15
regions should provide some obstacles.

dzug1

fernlea wrote: »

Wonder if someone could give me some advise re Euros. We've not been abroad for a few years and we are a bit out of touch with exchanging £ to euros. Should we wait till we get to Spain and exchange there, or is it more benificial to get them here before we go?

Another option is we have a Nationwide current account that we don't use much and we could pay the money into it and then use the card over there as they have 0% charges.

Thanks in advance,
Lynn

If you have a Nationwide account it's a no brainer to use that.

In some resorts you may find some outlets that will exchange cash cheaper than you could do here - but they will still be charging you something, which is more than 0%.

greyteam1959

fernlea wrote: »

Wonder if someone could give me some advise re Euros. We've not been abroad for a few years and we are a bit out of touch with exchanging £ to euros. Should we wait till we get to Spain and exchange there, or is it more benificial to get them here before we go?

Another option is we have a Nationwide current account that we don't use much and we could pay the money into it and then use the card over there as they have 0% charges.

Thanks in advance,
Lynn

If its a Nationwide Flex Account just use the debit card to get cash out of the ATM in spain.....the cheapest way to gut you euros.

Buggins

Hi - There are obviously quite a few "traders" on this thread and I thought I would put my lay person's view in re the Euro. Went to Post Office today to buy a few Euro and only got 1.03 euro to the £. i.e Paid £53 for 55 Euros!! This has dropped since Saturday when the euro was apparently 1.07. I'm never in the right place at the right time. However, I can vouch for Nationwide flexaccount. I was abroad in June and the rates I was getting using the card then were much better than the general exchange rate - hence the reason I'm only taking 50 quid with me!!
HTH

twiglet98

DS21 is off to Crete for a week tomorrow evening and planning to take £150 cash, to change to euros when there. He banks with Barclays. I'm sure there must be a better way, any ideas please?

Geordie_bear

just my luck, I'm about to go to Greece on Sunday & I still haven't got my euros. Looks like I need to go to Tesco pronto before it goes down anymore :mad: