 Poster: A snowHead
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| thefatcontroller wrote: |
Up, up and away. Heading towards 1.28  |
I had 1.28 quoted today from an FX company who manage expatriate payroll.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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If I want to buy Swiss Francs am I better off buying them using GBP whilst I am still here or exchanging Euro's (assuming I've already got Euros spare from previous trips which I bought with GBP - which I have) for them when I'm in Switzerland?
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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ouch @ needing swiss francs.
think the other day it was cheaper to spend € there (Champery, so just inside the border)
by that I mean "cheap" compared to extortion.
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You need to Login to know who's really who.
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Megamum, I would expect that as the Euro is currently become less valuable against the pound (see posts about the £ to Euro rate) and the pound has recently been somewhat recovering against the CHF (see this), I would suggest you'd do better using your GBPs to buy the Swiss Francs and keep your Euros for your next trip to Austria. 
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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Man in the bar said some substantial trades went through late today, tomorrow/Monday will be interesting 
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boredsurfin,
Just wondering. What amounts would be “major” enough to move a currency market one way of the other, say 0.1 or 0.5 or even 1 point
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1.30 being talked about spot trades by close tomorrow.
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Alastair Pink, Then that confirms what I suspected - many thanks.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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| Quote: |
Just wondering. What amounts would be “major” enough to move a currency market one way of the other, say 0.1 or 0.5 or even 1 point
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It depends on the market. In a jumpy market like it is at present then anyone wanting to sell maybe as little as €50m could move it, however if you were buying then you could probably buy 4 times that much before you got squeezed. You may have noticed that over the last three months the gbp v eur spread in your local post offices/banks ect, was skewed to the sell side because they all were expecting significant downside for the euro.
The drop of 0.25 in the euro base rate effectively put a floor in the gbpeur rate of 1.25 Todays spike to 1.28 was no doubt due to the yield on Spanish bonds creeping over the dreaded 7% mark.
Europe appears to at present be adopting a "Kicking the can down the road" policy to sorting out it's finances.
You certainly won't hear me complaining about any of this though. I remember the glory days of 1.5!!!
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davejsy,
Thanks for that. I have a forward option (took out a while back when it didn't seem likely) on £300k @ 1.3. I'll wait a few days to see it comes around then decide if I should action the option (only a small deposit to lose if I don't) or wait to see a little longer.
Mind you, now that GlobalPay (our dealers) has been bought out (sorry, merged with ???) by Western Union, not sure what they will think about future options, as I heard that they don't really like em as they have been stung big time by some people. Don't think they will even notice my small wad, but if you had optioned a few Mil, a while back, they could be in for a relativley big loss
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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Alastair Pink, I've just had a rummage and have discovered 82 Sw Fr at home according to the exchange rate its worth about £53 so that's also worth taking with me. That chart you posted seems to show the GBP at a fair old high against the Swiss Franc at the moment which is good news
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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Megamum, It all depends on your timescale perspective - if you look at the exchange rate history over the last 10 years, then the pound still has a way to recover! 
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| Quote: |
That chart you posted seems to show the GBP at a fair old high against the Swiss Franc at the moment which is good news
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Not so good for those of us earning in CHF and planning on doing some shopping in the UK and visiting the Olympics  I liked it when it was 1.4CHF to GBP.
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You know it makes sense.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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BUMP
Just hit 1.266 back to the good old days soon?
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Poster: A snowHead
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good. That'll mean the new hob I paid for with a credit card today won't be as much as I thought! Loooong way to go to the good old days, though.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Boredsurfing, gone down from 1.275 at the weekend - perhaps Britain's borrowing rate may be influencing things a wee bit.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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After a peak of over 1.28 in July we've plumeted to around 1.20 today. Perfect timing for the skiing season - not!
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I transferred £3K with HIFX recently and was sitting here feeling like a currency trader, watching the third decimal point climbing up and down, waiting to hit the "buy now" button. I had nothing better to do but calculated that the difference between the best, and worst, rates I saw was about £1.36 on £3K. I rarely transfer such a large amount and had innocently thought it might make a difference. I need the cash to pay for 6 apartments we are renting for a big party at Easter.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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altis, I was going to dig out this thread and say the same earlier.
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Slightly off topic, but the Mrs has been getting the money together for our trip tomorrow. Just come in from work, and i asked her how much money have we got for our 4 night catered ski trip, 800 Euro's spends!!! 
I asked here where the hell do you think we are going! I usually spen about 200 euro maximum lol!!!
Its safe to say that i will be having a good week lol!!!
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Ricklovesthepowder, Champagne every night
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Ricklovesthepowder, You and Mrs RLP deserve it. Have a great trip.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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Ricklovesthepowder, maybe she's staying there for four weeks, have you checked her return ticket ?
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I was looking at the cost of lift passes today E725 for the week for all of us. When the E was about at parity with the £ that meant around £725 - I did a conversion at around 1.2 on Xe.com and it came out as a very creditable £605 - thats £120 cheaper for the lift pass which will pay for quite a lot of small noshes on the mountain at lunchtime saving me the trip home to the accommodation
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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halfhand, cad99uk, BergenBergen, hahaha. Well my plan is to save as much as possible, then i can get another trip in!!!
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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...or, if the pound keeps heading South like it is at the moment, you'll come back with more than you started with
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Any thoughts on why the pound is edging down, I'm heading to Morzine in March and back to France in the summer.
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You know it makes sense.
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| No Style wrote: |
| Any thoughts on why the pound is edging down, I'm heading to Morzine in March and back to France in the summer. |
Because the bankrupt of England is printing money like its going out of fashion.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Because the UK is also in cack, and burying its head in the sand. Peston can can talk down the Euro as much as he likes on BBC News and try to talk Greece out of the Euro, but that doesn't alter the fact that UK is also a part of this global recession. And when Germany and France and EU can no longer support bail outs, UK will be forced to uphold its commitments via IMF.
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Poster: A snowHead
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So................. Don't expect it to recover any time soon?
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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Chasseur, any port in a storm maybe - talk up other people's problems loud enough and long enough that no one sees what is happening at home? Funny how this story emerges just as the pound is taking a dive innit? Yesterday it was all about Soros telling everyone that QE was good and austerity is bad! For him maybe but not for the rest of the world.
I've read a number of reports recently in terms of the German and French reactions and statements both in the original languages and summary translations. The translations are often "interesting" to say the least - totally subjective to the point of being misguiding would be a better evaluation. The ones on the reactions to the referendum were reported really inaccurately for example. The dive in the pound:Euro started immediately after Cameron made his announcement. Could this be just another example - a statement being taken out of context and the given the spin treatment? Aren't all the nations bankrupt in reality?
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You need to Login to know who's really who.
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To all extensive purposes, the expected future exchange rate between Euro and Sterling is equal to the current exchange rate which you can see xe.com.
(This is because the interest rates on the two currencies are similar).
I wouldn't try and predict it - nobody really has ever been found to have any significant ability to this (economists, currency traders, monkeys pressing buttons at random, mystic meg), many think they can but when tested it can very rarely be distinguished from good or bad lack/ random chance. If somebody did have some special skill at predicting currency movements, then I expect they would use their time more profitably than posting their predictions here.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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Thing is, apart from when UK did the substantial devaluation a few years back, the £:€ pretty much just edges one way or the other.
For a ski holiday, let's call it a nice round €1000 or £1000 that you need to convert for stuff like lift passes, food on the mountain, and bevvies in the evening. Unless something big happens in the news, then it's going to edge by what? about 1%. So on that grand, we're talking about +/-1 or 2 beers in France, or maybe 3 beers in Austria. Not even worth the effort trying to predict.
Now for those buying a chalet, or moving 10,000+ in one go, the exchange rate really does start to matter.
Pick a decent method of exchange (Post Office?) and you'll probably save more on commission than you will trying to be a commodities trader with spending money.
There's more QE to come, but I doubt it'd be as excessive as the 1.35 down to 1.20 to the £ that was done before (at least in the immediate future)
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1.16 This evening
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1.14 on travelex.... Down ~6% from the high Still only 4 beers per person given our typical euro spend though.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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...and I'm going to Switzerland for summer hols 
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