Pound back up around 1.20 again
Jun 2nd 2010 | 4:28 am
#16
Joined: Jun 2006
Posts: 11,231
From: Granada Costa
Re: Pound back up around 1.20 again
Not according to the FX bulletins - they would have had to convert it but they have not had to do so. If they had, Sterling would have dropped.
Jun 4th 2010 | 7:27 pm
#17
BE Enthusiast
Joined: Dec 2007
Posts: 530
Re: Pound back up around 1.20 again
The GBP went up against the USD today - the EUR less so - the result is that the GBP went up against the EUR. It hit 1.2 today but has dropped since -probably speculators taking their profit.
What will happen - who knows - if I did I would soon be a millionaire!
The EUR is not popular at the moment for many reasons, particularly Greece and more recently the Spanish credit downgrade and Spanish banking problems.
The whole thing is so volatile you have to take the decisions to buy/sell on a daily basis. I bought Euros last week at 1.75. If it goes over 1.2 tomorrow I will buy some more. I can live very well if I can maintain a rate near 1.2 - being on a UK pension income in GBP, parity gives me nightmares!
What will happen - who knows - if I did I would soon be a millionaire!
The EUR is not popular at the moment for many reasons, particularly Greece and more recently the Spanish credit downgrade and Spanish banking problems.
The whole thing is so volatile you have to take the decisions to buy/sell on a daily basis. I bought Euros last week at 1.75. If it goes over 1.2 tomorrow I will buy some more. I can live very well if I can maintain a rate near 1.2 - being on a UK pension income in GBP, parity gives me nightmares!
