When will £1GBP be worth 1.20 Euros?

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  • redpete
    redpete Posts: 4,692 Forumite
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    20th Feb 2021
    loose does not rhyme with choose but lose does and is the word you meant to write.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    What a ridiculous question.
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
    mark5 wrote: »
    A lot of the EU countries have bigger financial problems than us
    That may be so but they are not about to leave the EU.
    Our problem is the exporters that underpin the value of the pound - like car manufacturers, depend on components flowing freely back and forth across the channel. The thought of foreign customs officers being able to bring their production lines to a halt is enough to give everyone the jitters.
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • Gadfium
    Gadfium Posts: 763 Forumite
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    bery_451 wrote: »
    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:
    Why not?
    People were saing not that long ago that the FTSE had peaked, that it wouldn't hit 7000 and if it did it would crash, that the rise couldn't continue, etc, etc. Yet here we are at over 7400.

    Personally I think that the £ has a lot further to drop. Davis and his bunch are making a pig's ear of the Brexit negotiations and they are only at the beginning, May's government is weak and the sound of sharpening knives is getting louder by the day. Consumer debt is growing by the minute and the next financial scandal (car finance) is just around the corner.
  • Gadfium
    Gadfium Posts: 763 Forumite
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    redpete wrote: »
    20th Feb 2021

    at exactly 3:43PM...:D
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Gadfium wrote: »
    Why not?

    Correlation with other currencies.
  • steampowered
    steampowered Posts: 6,176 Forumite
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    It can certainly get lower.

    It dropped an enormous amount as a result of the Brexit vote. And has continued dropping steadily since then largely due to lack of any sensible progress in negotiations. I imagine it will continue sinking until some sort of an arrangement is reached.
  • dividendhero
    dividendhero Posts: 2,417 Forumite
    steampowered wrote: »
    It can certainly get lower.

    It dropped an enormous amount as a result of the Brexit vote. And has continued dropping steadily since then largely due to lack of any sensible progress in negotiations. I imagine it will continue sinking until some sort of an arrangement is reached.

    Don't want to turn this into a political thread, but can't see any deal on the horizon that won't result in the pound falling even further. The best the UK can hope for is some kind of transitional arrangement that delays the damage.

    I know politicians are talking of trade deals with the rest of the world - but this seems to be more about UK imports. The UK current account deficit is already huge and is being financed by selling assets - everything from football clubs to London property is up for grabs. Hence my focus is on putting my own money overseas...
  • jimjames
    jimjames Posts: 17,611 Forumite
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    bery_451 wrote: »
    Dont understand whats the $dollar got to do with Brexit?

    If the UK economy is screwed by Brexit then the £ will be worth less against other currencies
    Remember the saying: if it looks too good to be true it almost certainly is.
  • jimjames
    jimjames Posts: 17,611 Forumite
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    mark5 wrote: »
    I do wonder sometimes if bankers, traders etc outside the EU really understand what the EU is, what Brexit is, how it works

    I think many in the UK would like to know the same and when the most searched term the day after the result was "what is the EU" it might suggest a lot of people don't understand either.
    Remember the saying: if it looks too good to be true it almost certainly is.
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