Hedging your bets

[PositronicRay]

I'm likely to need £10k euros mid next yr, would it be foolish or sensible to change money now and deposit it in a Euro account.

I know the sensible answer would have had me doing this 6 months ago, buy high sell low etc seems to be my mantra.

[rsbmw]

Guesswork really, but buying close to an all-time low £ doesn't seem that sensible. Personally I would wait.

[Behemoth]

I have to buy Euros regularly. I would wait, but it is largely guesswork. If inflation creeps up, so will interest rates. This normally strengthens the pound if inflation and interest rates stay stable in the EU zone. Unless myriad other factors interfere. Which they could easily and probably will do

[bmwmike]

Very uncertain times. BoE adamant they won't raise interest rates but surely if the £ drop's too far they'll have no choice.. I fixed my mortgage on that basis. I too need to buy euros so setup a current account with HSBC and you can drip feed money into the € account periodically. Then when you need it withdraw in cash over the counter. No charges.

[Hoofy]

Behemoth said:

I have to buy Euros regularly. I would wait, but it is largely guesswork. If inflation creeps up, so will interest rates. This normally strengthens the pound if inflation and interest rates stay stable in the EU zone. Unless myriad other factors interfere. Which they could easily and probably will do

tl;dr: might go up, might go down.

[Behemoth]

Hoofy said:

tl;dr: might go up, might go down.

Er ok, you obvs have ADHD

[LeoSayer]

Spread the risk?

£3.3k now
£3.3k in March
£3.4k in June?

[Hoofy]

Behemoth said:

Hoofy said:

tl;dr: might go up, might go down.

Er ok, you obvs have ADHD

I read it.

[PositronicRay]

Thanks chaps, I'll bide my time and hope