pedropat

What is the best guess, is the Euro strengthening or the Pound weakening?

Today, GBP 1 - 1.12 € but in 2010, GBP 1 - 1.22 €.

For an Expat, returning home with Euro savings, quite a bite !

Experts predict , due to PIGS, the whole Union might come unstuck.

ononno

errr, excuse me, but the lower the £pound against the Euro, the more pounds you'll get for your saved eurines.
ciao for now,
'o nonno

Mitzyboy

I'm afraid you have it the wrong way around. If I sold my house tomorrow for the same price I paid for it when the r/ex was 1.40 ish, I would make a profit.

mikelincs

Moving € to pounds, a much better deal now, pounds to €, much worse..

pedropat

Interesting divergence of opinion, or, " is the way I tell ´em ", re-read the question.
If an Expat went back to England & converted his savings :-

2010, 100.000€ (1.22) bought 819672GBP : today 100.000€ (1.12) 892858GBP.

I can see why the house sale would be of benefit, a bonus. And, buying out of the € now, makes sense if they are going to weaken, again - why I asked for your best guess.

lynnxa

I still don't see the problem

he'd get more GBP today for his euro than he would have in 2010


isn't that a good thing if you're returning


do you mean if he hangs on it might get better?

or someone who went back last year would be upset that they would have got more if they had hung on?


oh if only we all had a

missile

It is the way you tell em.

Mitzyboy

The house isn't a bonus, it's probably an expats main purchase, and if he can sell it under the circumstances described then it's a major piece of the puzzle.

You are talking about a small snapshot of time I guess, and there arent many here who would buy and sell a house in that small snapshot.

As for your question ....... no one on here has a real idea otherwise we would all be very rich through currency dealing

johnnyone

I agree with that. I just do not understand why the pound is so weak against the euro at this time. If I was a currency trader I would have gone broke long ago.

missile

You need to look at the bigger picture. Even if you could successfully predict the rates in advance, the charges to change currency would eat up most of your profit.

The pond is not as weak as it was in September. Over the last 571 days Average 1.156. High was 1.2336 on 29.06.10 and low was 1.0686 on 13.10.09.

Some of us remember when the £ was "strong". It was 1.68€ to £1 when I bought my property.

bobd22

I too think it's the way you tell them, assuming you are asking if people think the pound will weaken further? who knows that? as others say if people could predict when and if that would happen we could all be wealthy.Suppose it depends what you want if you NEED pounds in the uk why risk it as it is a pretty good rate going that way, if you don't actually need it in the uk then maybe you could wait and it could get better or worse your call. Personally I need for it to go the other way so am having to wait and see, but how long I can wait now that's another question.

missile

There are many who think there is a quick buck to be made with share prices. It is all a gamble and like horse racing, those who study the form have a better chance of coming out ahead.

HBG

I've studied the currency rates, seriously; I've looked at graphs and even paid to read the FT and The Times. I've read essays and expert opinions all over the place and even considered doing some harm to Mervyn King, like letting his tyres down.

I've thought of getting hold of Gordon Brown and seriously telling him what I think of his five points which stopped us joining the Euro.

I still think that the pound Sterling should buy at least 1.50 Euros.

I also know that prayer doesn't work.

pedropat

My thanks to everyone who has put in their two pennyworth, you are very gracious to the new boy : In return, I respect your opinions.

My guess, is the Pound will strengthen, simply because the PIGS do not have the discipline & resolve to go through with the Unions austerity measures- already, Greece was caught printing counterfeit bank notes, rather than knuckle down.

After the May Election, Spain´s position might be made clearer. My guess is the good old days of €1.60-1 GBP, could be back, this year.

johnnyone

I think it will strengthen but not by that much. Not that it really matters one way or the other to me.
But remember a strong pound is only good if you are converting to euros. It's no benefit for those selling up and coming home to the UK and converting the other way round and there are plenty of those around at the moment.