Pound-Euro 2016

[Tredegar Boy]

1.13!!!!! S@#t

 

[Jimbo]

Standard and Poors, the major rating agency, is predicting that the UK will probably lose its AAA credit status in the event of a Brexit. That's not likely to inspire international finance to buy sterling. I think we're stuck with this until June 23/24. When I say "probably" we have to remember that S&P actually set the rating, so it's pretty much a statement of intent.

Another side-effect is the sudden extreme rise in Thomson prices over about 48 hours. On Thursday, two weeks at Barras from September 23rd was £409 from Leeds-Bradford. It went up on Friday and is now (Saturday evening) £593. That's an increase of £184. LBA is about the cheapest in the North at the moment. Barras from Doncaster is now £597. Little Prince is £823. This is end of season prices above previous high season prices.

I've seen a price change like this before. Maybe it's the popularity of "The Durrells," maybe it's because a lot of people who might normally to the Aegean are choosing the Ionian islands because they're as far as you can get from Turkey, and perhaps it's because TUI is a German company and ultimately income from Thomson (UK) has to be translated into Euros. Who knows?

[rilo57]

Think its just greed..travel companys here are still offering big discounts on holidays includind TUI..And the bombing dosentseem to have affected travelers...

[tonyco1]

I agree with Rilo57 - pure greed - - that may stifle sales to the village via Thomson, but loads of other options, and Thomson may have to offer deals at the last minute to save their sales figures, so eyes peeled.
Back to the thread now.
We are going on holiday the week before the voting, so seeing the uncertainty in the rates, we decided to take a gamble and buy the rest of our Euro's now, which listening to all of your predictions seemed wise.
I bought a lot of Euros when it was at a high last year, on Thursday 26 November 2015, when 1 GBP = 1.4242 EUR, (I got just under that actually @ €1.4198).
so I have a load left as I bought for 2 holidays worth, spent a fair amount in Tenerife in March, and have just under half left, so topped up today as it seems prudent to do so right now.
I got a great deal at today's prices, (not as good as a couple of weeks back unfortunately), with moneycorp, inc. free tracked delivery, of 1.2264, so if I split the difference between the whole pot it's still quite good.

[Jimbo]

TravelFX is offering 1.225 tonight. Like you, we have nearly enough from last year. Most financial commentators are saying that in the event of a Stay vote the pound will rise, and in the event of a Leave vote will drop even more. So it's the same old gamble, really.

Of course it's greed. That's how Capitalism works. Very little of the money will go to the local economy. It'll all go back to normal in a few weeks. Meanwhile I amuse myself by imaging the faces of some of those who booked to go to a charming island where the locals ride donkeys when they arrive in Kavos!

[Andy7]

Pound jumped today after higher than expected inflation figure, Thomas Cook offering 1.22 if you reserve online so I am tempted because the pound will likely fall again as the referendum approaches.

Andy

[Jimbo]

TravelFX is 1.2280 at the moment. Mid 1.2s is about the best we can expect. Might hang on for a bit. As Gillie won £8.35 on the Grand National this could be our lucky year.

Screw Thomson. Booked today with Jet2 and the utterly wonderful Lesley (http://www.corfuselections.com) for three weeks in September. Flight time back is crap, but we don't care. The money goes to a Yorkshire airline and Corfu, not to Berlin.

[Lesley]

Thank You Jim - glad I could assist......3 wonderful weeks ........

[Jimbo]

The Pound:Euro rate is fluctuating almost hour by hour. Buying travel money is now stick or twist. Today the Remain voters are about 10% ahead in the polls, which may help the pound. That could change tomorrow. 65 days to gamble!

[cambridge]

Or, we could sit back, relax, reflect upon the good run for our money that we've had over the last few years, and try not to fret too much. A few years ago Sterling was weak against the Euro, but once in the village everything still seemed to be pretty good value.

[rilo57]

Looking from the other side of the table,the news here is that the UK would benifit far more if they stay in the EEC..not just currency rate but across the board realy..dont ask me to go into detail as it dosent interest me that much..

[tonyco1]

The Euro was 1.27 today -

[Jimbo]

The pound is at a 2 month high today - Interbank rate is 1.29 - cash on TravelFX is 1.262

This morning's IMX newsletter says:

Over the last few days it looks as if the vote for the UK to stay in the Eurozone may be what we see in June, and in line have seen a miraculous recovery from the pound across the board which still looks to gain further. GBPEUR hits 1.2900 which is almost a 2 month high

[Dupnica]

Thank you Mr Obama.

[Jimbo]

Of course, there's still a lot of water to flow down the little stream and under/over/around the little wooden bridge on the beach before June!