GB pound weakening
#91
BE Forum Addict
Joined: May 2004
Location: Guadalhorce Valley, Málaga
Posts: 1,059
Re: GB pound weakening
Anyone interested in the sterling - euro exchange rate since 1999 see here:
http://www.ecb.int/stats/exchange/eu...ph-gbp.en.html
http://www.ecb.int/stats/exchange/eu...ph-gbp.en.html
#92
BE Forum Addict
Thread Starter
Joined: Jan 2008
Location: The Charente - still smiling.
Posts: 2,624
Re: GB pound weakening
Thanks, Beachcomber, useful link.
#93
Re: GB pound weakening
How long to you think you would have to wait for that to happen?
My guess is that you will never see as much as that for your GBP again. Remember, since the introduction of the euro all those years ago, the pound has been on a fairly continuous downwards slide with no significant peaks to mention whatsoever. Thus far it has been a one-way street.
My guess is that you will never see as much as that for your GBP again. Remember, since the introduction of the euro all those years ago, the pound has been on a fairly continuous downwards slide with no significant peaks to mention whatsoever. Thus far it has been a one-way street.
I don't think the ECB would want to see us join at parity it would put too much strain on the euro. They thought 1.30 was about right and I guess in todays climate 1.20 would be about right but there is no clamour to join from this side so I guess it won't happen.
#94
Re: GB pound weakening
http://newsvote.bbc.co.uk/2/shared/f...hree_month.stm
Yee canee take it with thee whenya dieeee........There are no pockets in Shrouds............. I ken what you mean but ma holes too wee
Yee canee take it with thee whenya dieeee........There are no pockets in Shrouds............. I ken what you mean but ma holes too wee
#95
Just Joined
Joined: Feb 2008
Posts: 7
Re: GB pound weakening
Anyone fancy guessing what the Pound verses the Euro will be on Monday after 2 big US car makers go bust over the weekend? good job we are not dealing in dollars. I am guessing 1.1050 Currencies Direct Ltd are quoting 1.1230 today
#96
Re: GB pound weakening
Tourists are already getting 1 pound to a €
http://www.sharecast.com/cgi-bin/sha...ory_id=2509356
http://www.sharecast.com/cgi-bin/sha...ory_id=2509356
#97
Re: GB pound weakening
Tourists are already getting 1 pound to a €
http://www.sharecast.com/cgi-bin/sha...ory_id=2509356
http://www.sharecast.com/cgi-bin/sha...ory_id=2509356
without a nurse. No one should be getting 10% or more below bank market rates. Any High Street travel shop should give you 4 to 5% max below.
#98
Forum Regular
Joined: Feb 2006
Posts: 117
Re: GB pound weakening
If you take a look at Beechcombers link you will find that is not true. It started in 1999 at 1.40 climbed to 1.74ish twice in 2000 stayed about 1.64ish for most of 2001/2 then gently fell back to mid 1.40s until mid 2007 from where it has fallen to todays low levels in six months. If the politicians and headline writers were a little less strident with the bad news and more balanced I would hope to see it rise into the 1.20s again.
I don't think the ECB would want to see us join at parity it would put too much strain on the euro. They thought 1.30 was about right and I guess in todays climate 1.20 would be about right but there is no clamour to join from this side so I guess it won't happen.
I don't think the ECB would want to see us join at parity it would put too much strain on the euro. They thought 1.30 was about right and I guess in todays climate 1.20 would be about right but there is no clamour to join from this side so I guess it won't happen.
#99
Re: GB pound weakening
If you take a look at Beechcombers link you will find that is not true. It started in 1999 at 1.40 climbed to 1.74ish twice in 2000 stayed about 1.64ish for most of 2001/2 then gently fell back to mid 1.40s until mid 2007 from where it has fallen to todays low levels in six months. If the politicians and headline writers were a little less strident with the bad news and more balanced I would hope to see it rise into the 1.20s again.
I don't think the ECB would want to see us join at parity it would put too much strain on the euro. They thought 1.30 was about right and I guess in todays climate 1.20 would be about right but there is no clamour to join from this side so I guess it won't happen.
I don't think the ECB would want to see us join at parity it would put too much strain on the euro. They thought 1.30 was about right and I guess in todays climate 1.20 would be about right but there is no clamour to join from this side so I guess it won't happen.
ie buying the higher yielding currency against the other is working against
Stg.There has been a big unwinding of these trades as well due to the credit crunch and FLIGHT TO QUALITY. That is why you have stg/yen going from
200 to below 140 in last 3 months.People used to sell yen whose interest rates have been virtually zero for ten years or more and buy Stg for example to invest in UK assets. And borrow the Yen they were short in the money markets effectively funding a Stg asset with a very low interest rate.This is now all being unwound . So cannot see where Stg gets support from at moment unless ECB and BOE says current levels are unacceptable and backs it up wiv intervention, not likely at moment.
#100
Just Joined
Joined: Dec 2008
Posts: 4
Re: GB pound weakening
How long do you think it'll take to recover, even back up to 1.20? ...and how low do you think it may go before we see any hint of recovery? It seems to have become a very steep and slippery slope this last couple of weeks or so. We didn't think 1.21 was great a few weeks ago, but that looks pretty good at the side of today's rate.
#101
Re: GB pound weakening
How long do you think it'll take to recover, even back up to 1.20? ...and how low do you think it may go before we see any hint of recovery? It seems to have become a very steep and slippery slope this last couple of weeks or so. We didn't think 1.21 was great a few weeks ago, but that looks pretty good at the side of today's rate.
#103
Just Joined
Joined: Nov 2008
Posts: 5
Re: GB pound weakening
As a non British person, but in Euroland, can I politely ask if you would join the Euro now ? (if that were possible due to criteria etc.)
Also, can I ask why there is so much resistance from British people to joining the Euro?
Maybe it's not being able to set your own interest rates, or not having the Queen on the currency notes..... etc.
Is it something to do with sovereignty, wanting to be independent of Europe or what? I'm a bit baffled by the complete anti Euro stance I notice from Britain, and all I want is a reasoned explanation!
I'll get me coat now....
Also, can I ask why there is so much resistance from British people to joining the Euro?
Maybe it's not being able to set your own interest rates, or not having the Queen on the currency notes..... etc.
Is it something to do with sovereignty, wanting to be independent of Europe or what? I'm a bit baffled by the complete anti Euro stance I notice from Britain, and all I want is a reasoned explanation!
I'll get me coat now....
#104
Re: GB pound weakening
Personally I think its crazy all these different currencies, withooiut getting into economics wouldnt it be great if we could have one currency world wide.
Im in australia these days but still have a property in spain.
Im hurting paying my mortgage in spain as the aussie $ has slipped too against euro.
It was 1 euro to $1,40 last year, now its 1;2 costing me a fortune but hey
Im in australia these days but still have a property in spain.
Im hurting paying my mortgage in spain as the aussie $ has slipped too against euro.
It was 1 euro to $1,40 last year, now its 1;2 costing me a fortune but hey
#105
Forum Regular
Joined: Jul 2008
Posts: 153
Re: GB pound weakening
As a non British person, but in Euroland, can I politely ask if you would join the Euro now ? (if that were possible due to criteria etc.)
Also, can I ask why there is so much resistance from British people to joining the Euro?
Maybe it's not being able to set your own interest rates, or not having the Queen on the currency notes..... etc.
Is it something to do with sovereignty, wanting to be independent of Europe or what? I'm a bit baffled by the complete anti Euro stance I notice from Britain, and all I want is a reasoned explanation!
I'll get me coat now....
Also, can I ask why there is so much resistance from British people to joining the Euro?
Maybe it's not being able to set your own interest rates, or not having the Queen on the currency notes..... etc.
Is it something to do with sovereignty, wanting to be independent of Europe or what? I'm a bit baffled by the complete anti Euro stance I notice from Britain, and all I want is a reasoned explanation!
I'll get me coat now....