Pound-Euro 2016

[Teamnickos]

Do you think it will pick up again or keep dropping?

[Jimbo]

Who knows? It seems to have stabilised a bit over the morning. TravelFX has gone up from 1.05 to 1.2184.
I'd be surprised if we anything like the pre-Xmas 1.4 for a very long time.

[Teamnickos]

yes, everything plummeted this morning (I didn't dare work out how much my shares had lost!!) but has gradually been picking up during the day 

[Tredegar Boy]

Once things have settled down and our political classes get back to doing what they are paid to do the exchange rate can get back to fluctuating within more normal parameters. It's 1.23 at the moment which is what it was back in April.

[BAJ]

Glad I bought the rest of mine at the beginning of the week when it was 1.28 with travelfx, To be fair it has not dropped as low as it was thought.

[Jimbo]

It did recover after the Bank of England discovered £250 Bln available to keep the banks aflot.

[riojabear]

Just dipped under 1.20 - no sign of recovery

[Jimbo]

TravelFX 1.19

It would be lower but the euro is seriously down against major currencies apart from sterling. IMX is predicting further falls. That will, inevitably, be dismissed as "scaremongering."

Welcome to this Brave New World.

[rilo57]

Our financial dept was today saying pound is going to go lower and if anybody needs sterling now is the time to buy..

[Tredegar Boy]

Brave New World Jumbo!? I don't see what's brave about it, common sense to me. As for the New World bit the euro was 1:107 in June 2011 1:114 in July 2013 nowt new. Since 2008 nervousness in the financial markets has become the new norm.

I think people need to calm down a bit and I don't mean you Jimbo.

[Andy7]

If Remain had won the pound would be 1.40 against the euro now.

This Brexit is a disaster for my holiday plans and will cost me an extra £500 going to San Steph and Lanzarote during 2016.

Jimbo, we agree on this one, it's a bloody nightmare that can only get worse.

Andy

[Jimbo]

I think it's a case of United We Fall!

As I said earlier, the euro rate is not a particularly good indicator because it has had a devaluation against the dollar as well. Anyway, this is not really the topic to debate the rights and wrongs of Brexit apart from how it affects people buying holiday money. The fact is that the UK has now lost its AA+ or AAA rating by most major credit agencies. Given the vast economic clout of the EU, I suspect that the euro will recover more quickly than sterling, in which case the rate will get worse.

[Kernowfox]

Tis true tis pity tis true

[Jimbo]

Ah well - If we're going to start quoting Shakespeare, Polonius goes on to say:
"For this effect defective comes by cause."

[Kernowfox]

Fair enough
Never had this problem with the old drachs
Let's put things in perspective - I'm just going to have go down to 10 star metaxa