# pound hits 1.40 to euro



## larryzx (Jul 2, 2014)

BBC News - Pound hits seven year high against euro

Some recently said this would never happen


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## angkag (Oct 29, 2013)

larryzx said:


> BBC News - Pound hits seven year high against euro
> 
> Some recently said this would never happen


Lots reasons for the Euro to slide further right now, and not many reasons for it to strengthen, so still downward pressure.

Good for the weaker Euro economies I think.


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## mrypg9 (Apr 26, 2008)

angkag said:


> Lots reasons for the Euro to slide further right now, and not many reasons for it to strengthen, so still downward pressure.
> 
> Good for the weaker Euro economies I think.


As long as their Government debt isn't denominated in other currencies...

Say 'Thankyou' to Greece and the Syriza Government for causing such alarm and chaos in the financial markets. 
Greece has a huge tranche of debt to pay by the end of this month and the country is sliding slowly into bankruptcy, what with falling tax revenues and capital flight. 
The euro may fall further by the end of the month and continue its fall until the Greek situation stabilises, if it can.
In December 2005 £1 would buy you 95 cents. Currencies fluctuate and anyone planning a move to Spain should not count on the current situation continuing in the long term, perhaps not in the medium-term even.


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## larryzx (Jul 2, 2014)

mrypg9 said:


> As long as their Government debt isn't denominated in other currencies...
> 
> 
> In December 2005 £1 would buy you 95 cents. .


From the web it shows 1.45 Dec 2005
British pound (GBP) and Euro (EUR) Year 2005 Exchange Rate History and graphs and charts - Yahoo Finance

Did you get the year wrong maybe?

Dec 2008 it was _Dec 17 1.0786_


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## mrypg9 (Apr 26, 2008)

larryzx said:


> From the web it shows 1.45 Dec 2005
> British pound (GBP) and Euro (EUR) Year 2005 Exchange Rate History and graphs and charts - Yahoo Finance
> 
> Did you get the year wrong maybe?
> ...


Yes!!! Que pillock!! You're right.

We left the UK in December 2005, left Prague November 30th 2008, reached home here 2nd December 2008....and I was told that exchange bureaux at Heathrow were giving less than parity.


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## angkag (Oct 29, 2013)

Its not just Greece and their high noon in 4 months time when the current temp agreement ends.

Also the European QE thing going on, which will go on a while. Then possibility of US interest rates increasing (so continuing money flow from Euro to US), and finally the UK referendum on EU membership in a couple of years - just in case anyone is worried about things stablising sooner than that.

The banks and money houses are all over the place with their predictions - aren't they always - with many rushing to issue new predictions for the year given many of their predictions have been exceeded already. So the money-house predictions are little better than random guesses much of the time, but interesting to hear someone at Merryl Lynch estimate the pound at 1.55 by Jun (and the US dollar at 0.95 from the current 1.08 ish).

The average guestimate is that the USD gets to 1.05 in June, but who knows. Either way it looks like downward pressure for the Euro from all sides until the summer, so no rush to go buy them we suspect.


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## larryzx (Jul 2, 2014)

mrypg9 said:


> Yes!!! *Que pillock!*! You're right.
> 
> We left the UK in December 2005, left Prague November 30th 2008, reached home here 2nd December 2008....and I was told that exchange bureaux at Heathrow were giving less than parity.


Why do you, as a well educated person, need to be so rude?

All I did was quote a web page which showed the rate for the month you referred to. Quote "In December 2005 £1 would buy you 95 cents"


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## xgarb (May 6, 2011)

she was self-referencing...


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## snikpoh (Nov 19, 2007)

larryzx said:


> Why do you, as a well educated person, need to be so rude?
> 
> All I did was quote a web page which showed the rate for the month you referred to. Quote "In December 2005 £1 would buy you 95 cents"



Doh ...... she was talking about herself .....


Get a grip, Larry!


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## baldilocks (Mar 7, 2010)

The downside is that your pension will be a greater amount in Euros so more tax to pay in Spain!


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## alborino (Dec 13, 2014)

baldilocks said:


> The downside is that your pension will be a greater amount in Euros so more tax to pay in Spain!


Stop it Baldi I've fallen off my bar stool 

While I'm down here just an extra worry:

The oil price is starting to tumble again and the prediction it will fall further is factual in the sense it is based on the amount of the stuff stored away. But unless we want to kick off world war three I think they will have to manipulate it. The last thing the world needs is driving Russia to war as being bankrupt leaves Putin with the tiny excuse he needs to jump into his tank/helicopter  

ok back on my bar stool now. Back to happiness :eyebrows:


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## mrypg9 (Apr 26, 2008)

larryzx said:


> Why do you, as a well educated person, need to be so rude?
> 
> All I did was quote a web page which showed the rate for the month you referred to. Quote "In December 2005 £1 would buy you 95 cents"


Learn to read, Larry....
Apology not required, not for this.


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## VFR (Dec 23, 2009)

Good news then for the UK buyers thinking about making the jump.


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## larryzx (Jul 2, 2014)

I often use a Nationwide Visa card in Spain. 

On 10th March I used the card. 

I see I got 1.39363636 euros to the GBP, and no charges either in Spain or UK.

For me it is a very effective way to spend 'GBP' in Spain.


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## Chopera (Apr 22, 2013)

pound on the way up again - nearly €1.44


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## Lynn R (Feb 21, 2014)

Chopera said:


> pound on the way up again - nearly €1.44


Yes, I did a transfer this morning and got €1.4320 with CurrencyFair.


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## Chopera (Apr 22, 2013)

well at least my Xmas shopping might be a bit cheaper this year


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## Lynn R (Feb 21, 2014)

Did you HAVE to remind us?

My husband informs me that if he'd received his state pension payment today, it would have been €100 lower than it was last December. I expect all this is making quite a difference to a lot of people, and not in a good way.


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## Alcalaina (Aug 6, 2010)

Some of those much reviled experts said a few weeks ago that it would probably reach parity within the next few months. On that assumption I did a big transfer while it was still 1.18. 

The financial speculators win either way. When the pound is weak they invest in British companies because they can buy shares cheaply. When the pound is strong they invest in the currency markets.


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## Lynn R (Feb 21, 2014)

Alcalaina said:


> Some of those much reviled experts said a few weeks ago that it would probably reach parity within the next few months. On that assumption I did a big transfer while it was still 1.18.
> 
> The financial speculators win either way. When the pound is weak they invest in British companies because they can buy shares cheaply. When the pound is strong they invest in the currency markets.


I transferred my pension lump sum last December, when it was €1.35. That gave me enough to cover my living costs plus my tax bills for 4 years, so I'm not going to feel the effects until that has run out, although Lord knows where we'll be by that time. I wondered at the time if I was doing the right thing, as the rate could have gone the other way if the vote had been to Remain. Now I'm so, so glad I did.

To think we're at the mercy of the speculators and even computers, if all these stories about automatic trades being made using algorithms are true, is pretty scary.


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## Roy C (Sep 29, 2012)

I'm over next week and if it was down to me I would continue with the dodgy SAFO purchase as it's a sterling deal but Mrs C is not up for that and would prefer to buy a cheaper house which will turn out to be the same price as the SAFO one. What a time to be buying but as I said at the time, Brexit won't stop us.


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