I've seen no posts on this subject, is no one interested ?

Too full of Christmas spirits ?

It's now over 1.20 on the currency markets and I got 1.18 in a street exchange for cash this morning

I am now!.... mind you my OH probably knows hour by hour anyway so given I rarely need pounds it's all under control.

I've been watching it going up - it seems the money markets love the recent "Cameron v Europe" saga

Jo xxx

I'm already up 4% on my dollar purchase...

Leads to a bit of a split personality when you need the pound to be strong to get the best rate bringing euros over for houskeeping yet the euro to be strong against the dollar so the fuel doesn't go through the roof (again)

I got 1.176 yesterday on transfer from UK

It is a mind-bender, isn't it? We worrying about the Euro becoming valued similarly to the dollar so that already staggering petrol prices don't go higher, yet, Americans (on the dollar economy) pay only a fraction of what we do for their petrol...

And on the other hand... me cherishing the thought of the Euro valued on par with the Dollar so that I'll make a good profit from all those dollars I just bought...

...while at the same time hoping a praying the Pound will become double the value of the Euro... so our Spanish mortgage becomes half of its value in pounds, and our pensions (in sterling) buy twice as much in Euros...

Let the good times roll!

just imagine if say the Greeks pulled out of the euro.They are one of the big anchors dragging it down. Would it then soar because its weakest link has been cut away or with the prospect of Portugal , Ireland etc following suit.
Or plummet because of the run on the European Banks that have huge exposure to those countries and the chaos that would ensue.

My bet would be a big violent down then a very gradual up as the stronger remnants (Germany, Netherlands, France etc) of the Euro remain.

I think that is the big unknown, what if Greece came out and did better what would other badly affected countries do including Spain I don't think anyone has a clue I suppose what will be will be. Mind strikes me that every time the pound picks up against the Euro and gets discussed on here it goes down so SHHHHHHHHH

ONE COUNTRY needs to pull out. House of cards, simples.
DSB.

Don't forget those going home to the UK want the opposite to happen.

Down 1c for Christmas yesterday around 1.1950 but that may be just dealers closing out for Christmas.

Unlike Iceland, which has managed to dig itself out, Greece cannot leave the Euro or the Eu, it relies too much on the beneficial nature of the union. They would never be able to dig themselves out of the mess they are in, they seem to believe the rest of the world owes them a living for all that history they gave us several millenia ago.

.

Very true but also there are the ones that have suffered badly with the exchange rate drop and mortgages in Euro to pay and to be honest although it is good to be back where it is it could be better.

I think the principal reason the Euro has weakened is nothing to do with DC but because the ECB made available €489bn in cheap 3 year loans.

Quantative easing in effect.