Euro (€) Currency Thread

JasonLVC

• The BoE’s inflation report anticipated that UK inflation would fall below the official 2.0% target (well off its current level of 5.0%). The main argument against further expanding the Bank’s 275 billion quantitative easing programme is the upside risk to inflation. With low inflation predicted, further QE looks a very good bet, though it has been priced in to the pound to a certain extent.
• Poor UK retail sales figures are likely to weigh on the pound today but in truth, as bad as circumstances look in the UK economy (and they do look very bad), the eurozone economy looks destined for another recession and the debt crisis continues to threatens to trigger horrendous repercussions. Sterling is trading at €1.1650 and may find it tough today but beyond that, we are looking for this pair to push higher.

Source:Caxtonfx

JasonLVC

• The ECB today will be offering three-year loans to struggling European banks in a bid to ease the liquidity squeeze that is building as a result of the debt crisis. Demand is expected to be high for the ECB’s loans and market tensions surrounding an impending credit crunch have lifted considerably in the past session.
• This morning’s MPC minutes revealed UK policymakers are firmly in wait and see mode. The Bank of England’s Broadbent yesterday reminded investors that the UK economy is in a painful period of transition, but cautiously asserted that our banks are better equipped to cope with financial shockwaves than before the financial crisis. Sterling is approaching the €1.20 mark this morning but the euro may have a stronger day in light of positivity surrounding the ECB’s liquidity commitments.

Now's the chance to buy your Euro's if you need them.

Elvisia

I have been living abroad and I've just come back to the UK with some euros in cash. I am on the edge of my seat trying to work out the best time to change them (I have enough for it to make a difference if the rate changes). Although now seems like the worst time I have been looking at the rate every day and it just gets worse and worse, so I am wondering whether to cut my losses. However reading Jason's posts it seems it's the best time to buy euros rather than sell.

I won't be going back to Europe in order to spend the money, and I don't know anyone who wants to buy them from me.

standinman2009

I hate to tell you ,but some are saying we could see 1.30 euros in the next month or so and possibly 1.40 by the end of the year !

standinman2009

woops to the pound !!

BOBS

standinman2009 wrote: »

I hate to tell you ,but some are saying we could see 1.30 euros in the next month or so and possibly 1.40 by the end of the year !

Watching this with interest - I know its not good for our economy .... but............. thinking ahead for cash for hols!!!
Interest graph on here to keep a check on how its going.
http://themoneyconverter.com/GBP/EUR.aspx

sveika

We need to buy some Euros. If anybody has got some spare Euros to sell, please let me know. Many thanks.

[Deleted User]

sveika wrote: »

We need to buy some Euros. If anybody has got some spare Euros to sell, please let me know. Many thanks.

Wait until 23 May when you'll get 4.2774 euros for the pound.
You must travel to London to get this rate.:cool:


http://futureexchangerates.moneysavingexpert.com/

JasonLVC

STERLING/EURO: Despite a -0.2% UK GDP figure, sterling has totally reversed losses made on the recession headlines.

Official statistics revealed that the UK has re-entered technical recession. The figure comes as a surprise after some decent figures last quarter. Headlines regarding a ‘double-dip’ will do little to help the UK’s ailing business and consumer confidence.

This pair’s half cent knee-jerk losses have since been recovered, suggesting the market may be suspecting an upward revision to the figure. Regardless, the UK’s economic fundamentals remain more appealing than those of the eurozone and what’s more, the UK government will remain committed to austerity.

Sterling is back trading up above €1.22 and after its robust recovery yesterday, the risks look skewed to the upside for this pair.
(Source, CaxtonFX)

Despite the news yesterday then, the Euro crisis is considered to be more worrying than the UK's technical double dip, according to the money markets.

BOBS

travellingbum wrote: »

Wait until 23 May when you'll get 4.2774 euros for the pound.
You must travel to London to get this rate.:cool:


http://futureexchangerates.moneysavingexpert.com/

I wish :j:j