How high can we go?

[morlandg]

The pound sterling to euro exchange rate has touched 1.28 this morning. How high can it go I wonder.
Anyone any views on this?

[mhic]

Don't know but I bought euros Monday, sick as a parrot.

Mhic.

[El Cid]

Apparently 1.30 is a key point. If it breaks through that it could go higher but equally there is a chance it will meet resistance at that level and could fall back 5-6 points.

That's what the experts were saying a couple of days ago but that's only an educated guess.

Sid

[country boy]

The general consensus on the money markets for several years now has been that the "correct" level for the euro/pound is €1.25 to £1. Could be that it is bouncing around to finally settle at that? That'll do me

[anyroads]

when you say 1.28.......

The most you will get is 1.2525 ...Caxton are offering this for as little as eur 150.

anyroads

[Mike.M]

when you say 1.28.......

The most you will get is 1.2525 ...Caxton are offering this for as little as eur 150.

anyroads

All depends on the ammount and supplier .... £40,000 exchanged at an interbank rate of 1.28 would give me an exchange rate of 1.2686

Regards,

Mike

[morlandg]

When I posted this morning I could get 1.28 - at this moment 1.2773 with 3 euros commission charge.
For as small amount as you wish - no minimum amount.

[ashtondav]

I got £500's worth at 1.279 using currencfair.com this morning.

Less than 78p a euro - roll out the cava!

FWIW, i reckon 1.35 would be a fair rate.

[katy]

Probably hit 1.35 next week the rate things are going.

Spains borrowing reaches 7.3%, IBEX down 6%


http://www.telegraph.co.uk/finance/fina ... ilout.html

[anyroads]

Yes it appears to be hitting the buffers. Valencia has run out of money and the natives are revolting !

I did see a figure of eur 400 Billion mentioned for a Spanish bailout. But is there that type of money left in the kitty ?

anyroads

[El Cid]

But is there that type of money left in the kitty ?

anyroads

Yes, if the ECB finally agree to start printing some more - what the rest of the world call QE.

Sid

[anyroads]

I do not think the Germans will start up the printing presses.

Maybe the answer is Spain going back to a third world country. People may look back in ten years time to the good old days when unemployment was only 24%.

anyroads

[anyroads]

In truth, the game is up with the euro.

Greece is a basket case and needs to be let out. This will be a test case for the other countries struggling at the fringes. None of these countries can compete with Germany on a level playing field.

The PIIGS need to devalue by at least 30%, and can't do so within the present setup. Let Greece go, see what the consequences are, and let the others join the queue. That or a two tier euro ( call it what you will ) but needs to be at most 70% of the "real" euro.

The present situation is just piling more misery on all Europe, and the UK even though outside the euro is being dragged down with everyone else.

It's broken, fix it.

It's the final countdown ( "Europe" )

anyroads

[tjtops]

So...looking at it from the other side of the coin (ooooo....sorry, )...if you had some euros which you ultimately wanted back into sterling but could afford to hand on a while....would you be unloading them now, or hang on to see what happens? I'm not talking fortunes BTW.....

[annfoto]

Tj
It depends on your appetite for gambling.
It is quite posible that in a few months your euros might buy you more pounds but it is equally possible that they will be converted into new pesetas and you would be unable to repatriate them due to currency restrictions.

[anyroads]

Agree....

If new pesetas come to pass, it is a few years down the road. I am sure you will have plenty time to spend your euros in the meantime.

The £ should increase a bit more against the euro, but the UK is in no great shape itself. No one really knows how the whole business will pan out.

I guess it is button down the hatches.One thing for sure, Spain is in for a number of tough years, full bailout or not.

anyroads.

[tjtops]

Mmmmm....confused dot.com!!! Well, the likelihood of me wanting to spend that amount in euros is non existent...will only be holidays etc....so.....gulp, don't know what's best to do! (They're not in Spain BTW).....as always, just one shot at it....I'll come clean, it's the refund of my 'retention' from house sale in Spain (to my astonishment!) and is safely offshore!!

[anyroads]

Mmmmm..

Maybe you should put it in one of those nice Spanish banks to lend out and start kick the economy !

anyroads

[tjtops]

[Mowser]

It's gone down since Friday.