Which way is the Euro going to go then?

A snowHead

Going to Cervinia in a couple of weeks and the Euro is beginning to improve in the last day or two.

Any bets on if it will keep improving, or go back on the slippery slope to 1:1 exchange rate. Will I get Euros, or just wait till I get there and hope it improves further Confused

A snowHead

With £100.81 yesterday I got €100 yesterday Crying or Very sad

Well, the person's real but it's just a made up name, see?

I keep thinking about this as I'm not going for another 9 weeks, but I've figured now I'm just going to wait and what will be will be...

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scotabroad, On my desktop widget the pound has got a little better today, currently showing 1.10 or 0.90p The day started off at 94p. I guess the good (ish) news from Debenhams and Next has helped the markets a little.
Just waiting for a member of the BoE or The Treasury to talk the pound down again Sad

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Searching on the financial news looks like the Euro is likely to weaken against the dollar, just wonder if it will do the same against the pound.

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scotabroad, I was pleasantly surprised by today's figures, a nice increase if it can hold. [unhelpful post].

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The £ should improve alittle agains the Euro in the run up to the 15th as it is expected that the ECB will cut the Eurozone interest rates further. However it won't be a huge amount as the UK economy is seen as more fragile then those in Europe.

Either way I wish i had more money!

After all it is free

If interest rates drop this month to 1% (as many are forecasting) then I would expect £ to weaken again, perhaps to below parity... it can happen!

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The weak pound is slowly helping the Northern Ireland economy. Retailers near the border were really cashing in before Christmas. Agriculture is also beginning to benefit with food buyers in RoI looking to NI to purchase raw materials, ie beef, lamb and milk.

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Crystalball gazing...............

Long term, IMO, the Pound/Euro is only going one way. Once everyones stopped kicking the Pound, and the Euro's coming woes sharpen in focus, we'll see some kind of "normallity".

There may be blips but I think we're possibly over the worst, and next year will be a much better deal. Coupled with what can only be more realistic prices in the Alps, this may be your most expensive season.

Some opinion believes that, under current/inevitable circumstances, the Euro is close to exceeding critical mass.

John.

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Which way is the Euro going to go then? As far as I was aware, the Euro was staying where it was and going nowhere - the £ on the other hand is sliding on its ar$e off piste down a particularly rocky gully rolling eyes

You know it makes sense.

hmmm I went half board this year specifically because of this problem..... more of a hopeful crossing of fingers than any insight, but come March 6th i hope/pray/promise never to say anything bad about snowboarders every again, that the pound gains a little...
Ok sorry that it's a totally pointless post BUT if there's anyone else waiting with nothing but hope, well you're not alone. Embarassed

Otherwise you'll just go on seeing the one name:

Jeez..................

I think you could put 10% on, maybe 15%. Maybe more. The rise will depend less on the £ but more on the Eurozone, the opposite of the fall.

We historically seem to go into/come out of these events sooner. The Portuguese, Italian, Greek and Spanish economies will have a big bearing on the Euro rate. Lending to all Eurozone countries should be at the same rate, it is after all one currency, but "some animals are more equal than others".

I'm no financial expert, I think you just needed to open your eyes. Too many things, like house prices here, and prices in the alps, are just not sustainable.

I might be wrong, but so far have not been too wide of the mark. Yet.

John.

A snowHead

A snowHead

robboj, Incredibile isn't it. rolling eyes

Hopefully this Goverment is so predictable the markets will ignore anything they say or do Confused

Well, the person's real but it's just a made up name, see?

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robboj, and the markets opened and the pound lost 1.5p against the Euro straight away this morning Confused

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Sshort term the pound is going to fall more as interest rates are cut. Long term if our country can get off its knees once that shower of sh*te have gone we will see it strengthen.

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ECB are expected to cut Eurozone rates so medium term expect rate to improve (for GBP holders) as most of sterling's UK interest rate cuts have been factored into the rate now. Unless there's another 100 basis point cut.

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Just bought some more Euros at 1.057 per £1

That's about what I paid before Christmas

After all it is free

I don't care, as long as I can afford a feckin' skiing holiday and there's enough snow. They can put Simon Cowell and Sheryl Ciole in charge for all I care

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dsoutar, that's the worst spelling of Cheryl Cole i've ever seen. Congratulations.

Laughing

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FastEddie, how many spellings of Cheryl Cole have you seen, in total?

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Now I'm no expert....

But the consensus on t'internet amongst those claiming to be is that the pound wil strengthen against the euro over teh next few months back towards 1.18 - see link for example.

http://www.thisismoney.co.uk/news/article.html?in_article_id=460469&in_page_id=2

Well I hope so - I am just gonna sit tight and exchange when I go - I don't believe it is going to move too dramatically either way before the end of Jan so either way its going to be a relatively expensive ski season - bit of luck we booked fully catered with lift pass included back in september! teh chalet have put their prices up by 15% since mid-dec for new bookers!

I'd forgethis season as far as a decent rate is concerned. There might be a recovery in a few months but not back to last year's exchange so accept that this year will be expensive for sterling.

I do agree that the Euro is holding a false position and some Med countries are squriming as interest rates set centrally do not suit them One size defo does not fit all, but no surprise there.. If that gets much worse..they may well have to leave the euro which will probably strenghten it in the long run..having shed the poorer economies, but politically that would be distastrous for a creditable currency and the world market would penalise them for it...

Some latin countries have ridiculous debt...Greece is woeful and even though the euro is supposed to be even across the zone Greece debt is more expensive than say, Germna debt. So, if you owe Greek euros you might be asked to pay back more points than if you owed German euros...Joined up eh...??

The PIGS ( Portugal, Italy, Greece and Spain ) plus Ireland are deemed to be the most shakey economies and most at danger to leave. Now, if those countries were expected or asked to contribute on Northern European levels to the pot, then they'd have a fit and leave... They are in it because they are paid off, IMV.

So the whole thing is on shakey ground and some countries are effectively
bribed with quite a lot of our money as our bill is very high...classic and we go for it...

That is just mt 2p.......

back to the OP... we will recover when the markets have confidence that our economy is stable and they don't think it is with Brown's proposed level of debt.

But if you are gong to borrow...then borrow when the currency is in a slump.... as the recovery will reduce the debt.... dangerous game tho'