Pound-Euro 2016

[Jimbo]

Fair enough. Pound went down again!

[cambridge]

Don't panic Captain Mannering.

[rilo57]

Just home from a week in Uk whilst visiting family over xmas..was a great exchange rate..car full of bargains from the sales..

[Jimbo]

Yes - That's what we have and will continue to have. The dollar and euro are strengthening, and there's no confidence in sterling.

Currently - TravelFX is selling euros at 1.1599. That's about what we can plan for for this summer.

Your ten euro meal will cost £8.65. Before the referendum announcement it would have cost about £7.20

[cambridge]

Yes British exporters are having a bit of an unexpected bean feast at the minute, with the car manufacturing industry, amongst others, hoping that long may it last. However, there's no certainty yet that it will.

[Jimbo]

Theresa May's comment yesterday that there were no plans to stay in the Single Market resulted in a steep drop in the pound. Base rate this morning is 1.155 and TravelFX cash at 1.1405

The euro is strengthening at the same time as the unemployment rate drops to levels not seen since June 2009.

Duh!

[Tredegar Boy]

Your ten euro meal will cost £8.65. Before the referendum announcement it would have cost about £7.20
[/quote]

Wow. That's a whole £1.45 etc per person per meal. Over 2 weeks and assuming you eat out for every meal and spend the equivalent of 10 euros each time that's a whopping £121.80 extra. What's a man to do?

I know I'll forgo two family meals out over the next 6 months to pay for it.

That's a relief. You had me worried there for a while Jimbo.

[Jimbo]

Well - it just got worse. TravelFX now 1.1355

Your ten euro meal just went up to £8.80. We probably, with wine, average about 30 euros for an evening meal. So at today's rate that's £26.42. Then add lunch and some drinks...

It might seem insignificant over small costs, like a beer, but the fact is that £1000 would have bought significantly more 14 months ago.

[Jimbo]

And further down - Interbank 1.1430 - TravelFX 1.1275 - ten euro meal now £8.87

IMX newsletters says:

Theresa May's comments at the weekend have proven to weigh heavily on the pound as yesterday alone it fell 250 pips against the euro with similar movements against most of its 19 major counterparts. The markets expect to see a lot of volatility over the next 3 months in the run up to Brexit Negotiations.

[Kernowfox]

The Brexit "share a sunbed" scheme is being launched shortly.
NHS England will be promoting via the unusually non Granny State sound bite "eat less and exercise more and you will lose weight"
Nice are considering new guidelines encouraging Metaxa 3 star or local plum brandy currently used as a toilet disinfectant (not bad with a splash of Goat's milk)

[Jimbo]

:-)

Pound climbed up to 1.13 on TravelFX. Joy!

[Richard/Jackie/Nathan]

We can go on and on about the effect of Brexit on the exchange rate but ultimately is it going to stop me travelling? - a resounding no, the exchange rate has been far worse in the past and it didn't stop me then and it won't stop me now!

[Tredegar Boy]

We can go on and on about the effect of Brexit on the exchange rate but ultimately is it going to stop me travelling? - a resounding no, the exchange rate has been far worse in the past and it didn't stop me then and it won't stop me now!
[/quotee]

Well said. Let's be honest if £1 = e1 how many of us would still go to San Stef rather than holiday here. Yes/no?

[mrsjune22]

Going to San Stef.isn't going on holiday, it's my second home. Unfortunately, thanks to age and health, I doubt if I will get there again. Altogether now AAAW!

[Jimbo]

Richard - If you don't want to read it there's no compulsion.

The fact is that for those on pensions etc. the rate makes a big difference to holiday costs. I monitor the rate daily because a big upward spike may make it a potentially good time to bus some euros. It makes a considerable difference if you're buying £1,000 worth.

Reading back, Andy did well to buy at 1.17 because we're nowhere near that. Yes, the euro rate has been lower, but only significantly after the financial crash of 2008.

The cause - Brexit or Theresa May's trousers - is irrelevant. I'm reporting what you can get for your pound.