Pound to euro - would you buy now?

chris_h

chris_h

chris_h

Associate
Joined
12 May 2014
Posts
173
Hey all

I am off to Gran Caneria in three weeks and have yet to buy my Euro's.

The exchange rate just went to 1.30 Euros to the pound, does anyone in the know have nay recommendations as the whether it is going to stay, go up or drop back down?
 
Could go either way with Brexit looming. (had type that six times get it recognized instead of looking!!!!!!)

Wealthy people will rally behind either currency for their bets to pay off.
 
Timely thread, I'm off to Europe in July, after the referendum, so things might get a bit volatile!
 
i have already bought my euros for when i go to spain in August.

I am expecting it to stay around the same as it is now, or fall through the floor and make the euro more expensive to buy.

So it just made sense to buy it 2 weeks ago.
 
I think the pound will go down if we choose to leave because in general uncertainty in the market will make people nervous and goes down as a result.

If we choose to stay then the euros will go up.

Sooooo, exchange it now.
 
£ will strengthen after an 'In' vote, weaken after an 'Out' vote.

'In' is more likely, though not at all certain, so I'd wait.
 
As above, any movement won't have a significant impact on the amount you actually walk away with unless you are taking some serious spending money.
 
Raymond Lin said:
I think the pound will go down if we choose to leave because in general uncertainty in the market will make people nervous and goes down as a result.

If we choose to stay then the euros will go up.

Sooooo, exchange it now.
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The problem with that is that Chris travels in 3 weeks and the vote isn't for 5 weeks. He has to decide well before the vote.

What you're really asking, Chris, is for people "in the know" about how the campaign is going to go in the next two, or at most, three weeks.How can anybody "know".

We could have some major news story break that favours Leave, or that favours Remain. Unless you can predict the exact nature of the news for the next few weeks, it's going to be at best a punt either way.

Recent polling suggests it's neck and neck, with some over the last few days suggesting remain edging back in front. But polls fluctuate. And that's assuming they're even right, to begin with.

You could always back it both ways. Get half your euros now, banking on the pound deteriorating, and half later banking on it strengthening.

Or do what I'd do which is just to get them when it's convenient and not try to predict currency markets.
 
Or sort it out the best way possible and get a decent credit card like the Halifax Clarity and use it when there.

Cheaper then any currency exchange place.
 
The replies above contradict, some people say that the Euro will strengthen/Pound will weaken if we leave the EU and some say that the Euro will weaken/Pound will strengthen if we leave the EU. Which his it people?? :p

POB said:
Or sort it out the best way possible and get a decent credit card like the Halifax Clarity and use it when there.

Cheaper then any currency exchange place.
Click to expand...

That doesn't protect him from currency fluctuations in the next few weeks though.
 
kinobestew123 said:
The replies above contradict, some people say that the Euro will strengthen/Pound will weaken if we leave the EU and some say that the Euro will weaken/Pound will strengthen if we leave the EU. Which his it people?? :p
Click to expand...
That depends on what you believe the economic impact of leaving or remaing will be. Or perhaps more accurately, what markets believe it will be, and the degree to which they've already priced in those beliefs in recent downward fluctuations.

For instance, if the impact of a Leave vote were that sterling suffers, then imports become more expensive (generally though bad) but exports become cheaper (generally good). Which impact dominates? This sort of thing is absolutely typical of economic effects. Some inflation is good, certainly compared to deflation or stagflation, but rampant inflation is bad. But how much is too much?

Possibly the biggest single unpredictable is that leaving, of necessity, involves a degree of uncertainty and uncertainty makes markets nervous. However, some of that is already priced in. But how much?
 
Even if you're changing a grand or so (you should use card for most purchases), a fluctuation in rates will make barely any difference.

Just buy them now, get it done and stop stressing about it. We're talking about a few pounds difference!
 
I would buy now, 1.30 is the highest ive seen it in the past 2 months i think im currently living in France and still paid in GBP and the rate is pretty unstable think it dropped to 1.19 a month ago
 
Determine how much you're willing to change (Sterling), change half of it now and then change half when you need to go / get there. Best of both worlds. But as already stated, unless you're talking huge amounts of money, are a few Euros worth fretting over?
 
you're asking for a crystal ball OP

if anyone could give you a decent answer then there is a lot more money to be made than the few quid you'd maybe save on your holiday money
 
Raymond Lin said:
I think the pound will go down if we choose to leave because in general uncertainty in the market will make people nervous and goes down as a result.

If we choose to stay then the euros will go up.

Sooooo, exchange it now.
Click to expand...

Thanks for that amazing insight m9
 
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