Euros - change to Sterling now???
Discussion
Excuse what may appear to be a muppet question but my grasp of finance is not great....
We have a Euro account which we dip into to use as holiday cash - as the real world € value against the £ has been dwindling for some time now and the whole Greek 'thing' what's the verdict on when to change??
We have a Euro account which we dip into to use as holiday cash - as the real world € value against the £ has been dwindling for some time now and the whole Greek 'thing' what's the verdict on when to change??
Selling a troubled weak currency and buying a semi strong one (the pound isn't too bad
) isn't maybe the way to go.
You have to consider that Greece is really in the crapper, can't form a government, can't agree on the austerity measures and its future in the Euro is being disscussed. How much worse can it get.
Merv does not want the Pound to increase, so depending on what he says or does tomorrow the pound could dip below 1.6 (to the Dollar)
So you could sell the Euro at the bottom and buy into the Pound that Merv wants to drop (a bit)
My guess is that the Greeks will be given more time to get their austerity plans in place giving a slight boost to the Euro, that may be the time to convert (on the next good news) not today.
) isn't maybe the way to go.You have to consider that Greece is really in the crapper, can't form a government, can't agree on the austerity measures and its future in the Euro is being disscussed. How much worse can it get.
Merv does not want the Pound to increase, so depending on what he says or does tomorrow the pound could dip below 1.6 (to the Dollar)
So you could sell the Euro at the bottom and buy into the Pound that Merv wants to drop (a bit)
My guess is that the Greeks will be given more time to get their austerity plans in place giving a slight boost to the Euro, that may be the time to convert (on the next good news) not today.
The Euro's back where it was maybe 4 years ago. It's 5 year high was 0.975 and the lowest was 0.65- It's currently sitting at 0.8
- Its pretty much bang between the two 5 year high/lows, and anyone following recent trends or seeing the outlook of Europe pretty bad in relation to the UK's would bet on it going further downward(both pretty bad but Europe's far worse on balance)
- It's currently at a point where an analyst would say there is very strong support when based on previous price levels- meaning the price is very unlikely to fall below 0.8 and may bounce back up unless there was some seriously bad news out a Europe.
The ship has probably sailed when it comes to swapping over. Though its difficult to call at the moment
- Its pretty much bang between the two 5 year high/lows, and anyone following recent trends or seeing the outlook of Europe pretty bad in relation to the UK's would bet on it going further downward(both pretty bad but Europe's far worse on balance)
- It's currently at a point where an analyst would say there is very strong support when based on previous price levels- meaning the price is very unlikely to fall below 0.8 and may bounce back up unless there was some seriously bad news out a Europe.
The ship has probably sailed when it comes to swapping over. Though its difficult to call at the moment
I was looking at the levels today, and thinking that it's time to start buying EUR. It's at better levels than it's ben in a few years, and I'll need more than I currently have, I think, to buy a house there in a while.
Yes, it might fall further, but that's in no way guaranteed (and that's why I'll do it gradually, over the next year or so).
What currency are your long-term obligations in? If you will need to buy a house in the UK one day, or retire here, or so on, then yes, putting some money back into pounds to protect against a further drop isn't a terrible idea, but that should be what biases your decision, actual future needs, rather than speculation.
Yes, it might fall further, but that's in no way guaranteed (and that's why I'll do it gradually, over the next year or so).
What currency are your long-term obligations in? If you will need to buy a house in the UK one day, or retire here, or so on, then yes, putting some money back into pounds to protect against a further drop isn't a terrible idea, but that should be what biases your decision, actual future needs, rather than speculation.
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