Euro....advice reqd

[pottert]

Can somebody explain to me how which the eurozone being in crisis why it is so strong against the pound.

 

[Napper]

Can somebody explain to me how which the eurozone being in crisis why it is so strong against the pound.

Knock on effect that there is no faith in how this clumsy arse government's ability to help us out the world recession.

 

[BensGrandad]

Today Tesco Burgess Hill 1.078 Coin Shop 1.0736.

 

[chucky1973]

At Gatwick today the euro was 1.009........thats a shocker

 

[Boroseagull]

Can somebody explain to me how which the eurozone being in crisis why it is so strong against the pound.

Most financial experts blame the low interest rate of 0.5% in UK. If rates rise so will the pound.

 

[Icy Gull]

Most financial experts blame the low interest rate of 0.5% in UK. If rates rise so will the pound.

Why is it doing OK against the Dollar then? Hovering around 1.60 for months now whilst the Euro has gone up to 1.23 and back down again.

I'm obviously no economist but with the French, The Spaniards, The Irish and the Greeks in such dire straits I really struggle to understand why the Euro stays so strong.

 

[Boroseagull]

Why is it doing OK against the Dollar then? Hovering around 1.60 for months now whilst the Euro has gone up to 1.23 and back down again.

I'm obviously no economist but with the French, The Spaniards, The Irish and the Greeks in such dire straits I really struggle to understand why the Euro stays so strong.

Interest rates [bank] here are 1.5% & considered better than the UK. Reports from the last B of E rate meeting seemed to feel there is a split in the commitee about raising the rate. As to USA, no idea, but I sure wish the £ was stronger!

 

[chucky1973]

Why is it doing OK against the Dollar then? Hovering around 1.60 for months now whilst the Euro has gone up to 1.23 and back down again.

I'm obviously no economist but with the French, The Spaniards, The Irish and the Greeks in such dire straits I really struggle to understand why the Euro stays so strong.

I could do with it getting back to that in the next week!

 

[Armchair]

For a good explanation of why the pound is weak at the moment, look here
Sterling outlook: What next for the pound? | This is Money

When I go to Europe I always draw cash from an ATM on my Nationwide Flex Account. They charge 2% plus £1 for each cash withdrawal but you get the commercial exchange rate, which at the moment is 1.1077 to the pound. Look here for the current commercial exchange rates. BBC NEWS | Business | Market Data | Currencies | Sterling GBP v US Dollar USD

The good news is that many analysts are expecting the pound to improve against the Euro by the end of the year.

 

[Bisto]

I need to change some cash up into Euros, but it seems to be crashing faster than a very fast crashing thing.

Do I wait (need in 2 weeks) to see if it will recover or buy now as it appears its gonna keep sliding?

Advice please of anyone in the know

All the time we have low interest rates the pound will be low and that is not going to change in two weeks... the current trade rate is 89p so tourist rate is going to be almost 1 for 1 Best advice is buy online but check the online comparison sites for best deals

 

[sticklebrick]

I use bestforeignexchange.com if I need to take cash (the rate usually beats the coin shop and is always more competitive than the rest of the High St.). I also use Fairfx.com for the safer prepaid MasterCard although the rate isn't quite as good being able to load the card when away is very useful. And if you loose it you don't loose your cash and there are no fees for using it at point of sale.

 

[zego]

Anybody bought Euros from the Brighton Coin Shop recently?

What exchange rate did you get, and date bought - so can compare with interbank rate on Currency Charts | Currency Exchange | HiFX plc

Halifax, or M&S, seem about best mix of rate and easy access, as checked just now via Cheap Travel Money | TravelMoneyMax.com | Compare to get the best foreign currency exchange rates with the Travel Money Maximiser.

 

[zego]

At the moment, money market rate (HiFX): 87.4p/1€ or 1.148€/£1

= £174.80/200€

Some order online/collect in person rates (see moneysavingexpert) for 200€:

Travelex (eg at Gatwick Airport): £179.36

Halifax: £180.12

M&S (online or in-store): £181.47

NatWest: £184.69

Brighton Coin Shop - tel quote: <£180.00

So, M&S and BCS seem best for a walk-up rate!
- at the moment, and for this amount ...

 

[HovaGirl]

Can somebody explain to me how which the eurozone being in crisis why it is so strong against the pound.

Because both are now weak currencies at the moment and they are juggling with each other. I would have said weak against the dollar, except the US dollar is now also suffering.

 

[HovaGirl]

Knock on effect that there is no faith in how this clumsy arse government's ability to help us out the world recession.

The UK recession has nothing to do with this coalition Government who are having to pick up the pieces and tidy up the mess left by the last Labour Government. They left a note, remember, saying: "All the money has gone."

 

[HovaGirl]

Most financial experts blame the low interest rate of 0.5% in UK. If rates rise so will the pound.

But if UK bank rates rise, then who knows how many people will have their homes repossessed.

 

[brunswick]

hyper inflation coming soon......gold at all time high...rose $70 in ONE day yesterday.....once this hits $1750 watch panic as the unsustainable economy goes down.

all i see is self interest based "i want" "can i" ...and no thought for the bigger picture.

the dollar is backed by nothing, and the greece debacle is all about the IMF and its cronies owning countries and assets.

 

[HovaGirl]

Why is it doing OK against the Dollar then? Hovering around 1.60 for months now whilst the Euro has gone up to 1.23 and back down again.

I'm obviously no economist but with the French, The Spaniards, The Irish and the Greeks in such dire straits I really struggle to understand why the Euro stays so strong.

The major Western currencies are all weak because of the economic crisis - Sterling, Euro and Dollar. Of more use would be to compare them with emerging economies, like that of India or China.

 

[HovaGirl]

hyper inflation coming soon......gold at all time high...rose $70 in ONE day yesterday.....once this hits $1750 watch panic as the unsustainable economy goes down.

all i see is self interest based "i want" "can i" ...and no thought for the bigger picture.

the dollar is backed by nothing, and the greece debacle is all about the IMF and its cronies owning countries and assets.

Basically, there is lessening faith in the major Western currencies. Hence the increasing value of silver and gold. If only Gordon hadn't sold our gold so cheap.