Pound-Euro 2016

[Jimbo]

Crossed wires, then!

Pound went down again...

[Papapetros]

Pound touched 1.17 today and looks likely to go higher.

[Papapetros]

Another good day for Sterling hitting 1.1769 against the Euro.

[Tredegar Boy]

Ain't it always so. Paid my deposit on Monday and the euro continued to rise. Oh hum. Still the fact its still rising is good news overall.

[Jimbo]

How low it'll stay up is anybody's guess. But it's still way below 1.20 - it's a little sad that we're pleased when it hits 1.17  !

[cambridge]

....or a little happy because it's gone up.

[Jimbo]

It's slipped a little overnight...

[Tredegar Boy]

Are you a glass half full type Jimbo

[Jimbo]

No - but I think the pound is!

[Papapetros]

Having gone past the 1.19 mark,is now the time to start buying Euros or should we wait a little longer ?

[Jimbo]

The trouble is that that's the Interbank rate. TravelFX is currently 1.1743 for actual cash.

But still - the pound is a little stronger than it has been. Commentators (not me) suggest that two things have influenced this: uncertainty in the Eurozone and indications such as the Lib-Dem victory that people are starting to wonder what exact deal can be made during Brexit.

I don't think there's any sensible advice to be given. It's Pontoon - stick or twist. There's a lot of uncertainty about Italian and French elections which may be depressing the euro. Personally, I'm inclined to hang on until next year before buying.

[Tredegar Boy]

I agree Jimbo. With the Italian constitution change vote on Sunday, their banks in meltdown there are more pressing problems in Europe at the moment than Brexit. All of which of course will affect the euro.

[Andy7]

Yesterday morning the pound reached 1.20 and Thomas Cook offered 1.171 so I quickly got down the local store and exchanged £1200 worth.

The pound has since dropped back to 1.18 so I think it was a good call, I can't see the pound rising above 1.20 this side of Article 50 being triggered.

Bloody Brexit!

Andy

[Jimbo]

Looks to me that an Interbank rate of about 1.18 and cash at about 1.169 is pretty much the norm for the foreseeable future - possibly the distant future.

Currency traders are a cynical lot - they didn't respond to Theresa May's latest profound analysis ("I want a red white and blue Brexit") by rushing out and buying Stirling.

I suppose I'm old and cynical, too. It if weren't so serious I'd be rolling in the aisles. It's like an episode of Dad's Army in the sheer ineptitude and vacuous pomposity of it all. (Come to think of it, it was the Dad's Army generation that voted for it). I can see Captain Mannering standing on the White Cliffs of Dover brandishing a dummy rifle and intoning "Don't worry Pike - they need us more than we need them." To which Sgt Wilson replies "As a matter of fact, Captain Mannering, that's not true. Our exports to the EU represent about 12% of our GDP and EU exports to us represent about 3% of EU GDP." "Quiet, Wilson. Don't confuse the men!"

[Tredegar Boy]

Pitiful just pitiful. Let it go man it'll eat you up.