GBP to Euro exchange

[witko999]

Hello.

I'm looking for advice from those more knowledgeable than myself.

I will most likely be moving from the UK to Germany in the next couple of months to go and live with my German girlfriend. This means leaving my job and probably a lengthy search for another when I arrive.

I have savings of around £25k to tide me over, but I'm unsure what is the safest thing to do with the money.

The current exchange rate is around £1 to 1.38 euros. I don't know whether to move the whole sum to a German account asap, or whether to drip feed money from my Uk account to a German account to lower the risk. Since I'll be initially unemployed I don't want to throw money away on an exchange rate that fluctuates in the wrong direction for my circumstances.

I guess the question is whether the euro value will drop further relative to the pound. Any advice appreciated.

[Mermaid]

Hedge your bets, the election could impact.

And the current rate is the best it has been for a while - just make sure you get a damn good converstion rate. Today you would want a Euro at 72.4p (1.38)

[nyt]

Get a credit card that doesn't charge when you pay in euros: http://www.moneysupermarket.com/credit-cards/overs...
You may have trouble getting one out there.

I can't speak for all cards but I find that you can even withdraw cash without charge if you transfer the money to the card before withdrawal.

Both Euro and Sterling are unstable at the moment. I'd spread my risks and not convert too much - at least until the UK election is decided.

[ellroy]

Post the election froth the Euro will slide against Sterling, looking in the region of 1.42/3 towards the end of the year.

This largely due to QE by ECB through to 9/2016, so possibly further falls in the slightly longer term.

I'd think to keep as much in Sterling as possible beyond that needed for immediate needs.

In summary, get a job quickly!