Exchange Rates - Euro Sterling

H

helpneeded

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Anyone have any ideas about how the euro/sterling rate will move in the next 12 months. I will be transferring a large amount of euros into sterling in 12 months time. From looking every so often it seems that euro has traded between 66p and 68p for a long time. This seems to be unprecedented stability.

Factors which may weaken sterling in my opinion could be economic growth in eurozone, tony blair stepping down with resulting political instability and increasing eurozone interest rates. However, none of these have so far had any noticeable effect.

Does anyone have any ideas?
 
Sterling is quite over-valued in my opinion. How long this will continue is another matter. I would be inclined to switch sooner rather than later but I am no expert on these matters.
 
If anyone knew for sure what was gong to happen they could make loads of money and probably wouldn't tell the rest of us.
This Site has a 12 month forecast - and they reckon the euro is going to get stronger - maybe upto 72p. But who knows what will really happen.
I was in a similar situation 2 years ago - I had a lump sum of sterling and was changing to euros. I watched the rates and kept working out when was the best time to convert - in the end I exchanged half of it and left half as sterling in a UK account and exchanged that when I needed it. The interest rates are higher on sterling - so that is another factor to consider if you are going to leave the money in an account for a while. You could be better off getting into sterling soner rather than later because of the extra interest.
Also - don't just let the bank do the exchange for you - you could save hundreds by getting specialist currency traders to do it . The commission will probably be lower and the rates better - especially on large amounts.
 
Euro up to ~.678 today from a yearly low of ~.668 on Tuesday. It peaked in early April ~.702, so your figure of ranging between .66 and .68 is inaccurate.

But look at GBP/CHF over the past year. It traded a tight range and then bang it went from 2.26 to 2.36 in a month, so you just never know.

If you don't need to do it all in one go maybe you can open a sterling account and transferr it in incrments. A sterling account will also pay more interest.
 
Will the Euro exist in 12 months? Stories are already around that the Big Powers want out at the next recession.
 
Not an expert myself but here's the view of Dr Dan McLaughlin, Chief Economist with BOI. (Remember it's his view - other economists may differ).

BM

[broken link removed]
 
plaudit said:
If only it was that simple.
Click to expand...

It's not that smple. Hedge funds have been borrowing in low yielding currencies and investing in high yielding currencies such as the NZ dollar the Icelandic Kroner and the pound. So perversely the high yielders have become overvalued and the low yielders undervalued.
I think the pound is way overvalued and due a correction.(British property buyers/holders beware).
On the other hand I think the yen is way undervalued. Anyway to play the pound/yen differential that is not time limited?
 
Eurofan said:
Jims best mates sisters cousin knows this girl who hangs out with this other girl who, like, i think works at a bank, or something and she said that's whats happening.
Click to expand...

I think I know her.

What actually happened was she was at a conference on the Euro but there were power supply problems throughout and then the power went out Big time at the following recess.

She told her friend about this while chatting on the phone who misheard it as:
"I'm at a conference on the Euro! Big Powers want out at the next recession"

All just a misunderstanding.
 
Anyone know where I can find futures prices and/or forward contract prices on the net

thanks
 
irishlinks said:
Also - don't just let the bank do the exchange for you - you could save hundreds by getting specialist currency traders to do it . The commission will probably be lower and the rates better - especially on large amounts.
Click to expand...

How do you go about engaging a specialist currency trader and what sort of minimum amounts for them to be interested/ to be worth your while?
 
Pegasus I've just opened an account with XE.com to convert £stg to €uro this week. Theres a link from their website.

I have not used the process as yet and have no connection to them.
 
today in Buttercrane Newry i got 147 euro for £100, been a long time since i got a rate like this
 
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