ChatterBank1 min ago
Buying The Euro
20 Answers
Maybe because of all the Brextit indecisiveness, the Euro is creeping up steadily and I am wondering if I should buy now, (I go to Italy in June), or wait a few weeks. Does anyone think that Brexit could influence the value of the Euro in the next couple of weeks?
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It is pretty likely that the value of the pound to other countries will alter dramatically on or around March 12th. Which direction it goes will almost certainly depend on the outcome of the vote, and since that's not set in stone yet then the wait could carry significant risks.
But then that's not exactly uncommon for foreign exchange. If you expect the UK to take the decision to either back the Withdrawal Agreement or delay Brexit, then you might want to wait (independent of whether this is the right course of action, it's the one that Forex markets seem to like, which is the question here); if you expect No Deal to be preferred, then that's likely to see a >5% crash in the value of Sterling, so buy now or at least before March 12th.
But then that's not exactly uncommon for foreign exchange. If you expect the UK to take the decision to either back the Withdrawal Agreement or delay Brexit, then you might want to wait (independent of whether this is the right course of action, it's the one that Forex markets seem to like, which is the question here); if you expect No Deal to be preferred, then that's likely to see a >5% crash in the value of Sterling, so buy now or at least before March 12th.
You're on your own there, Crackernut.
Uncertainty affects all markets including FOREX.
Remove the uncertainty, by whatever means, and the value of the pound v Euro will depend on the success of the UK outside of the EU (if we leave), or its success relative to its Eurozone partners, if it stays.
I don't know any more than JNO does. Although, as haruspex, he does prod the entrails of cattle. I read tea leaves.
Uncertainty affects all markets including FOREX.
Remove the uncertainty, by whatever means, and the value of the pound v Euro will depend on the success of the UK outside of the EU (if we leave), or its success relative to its Eurozone partners, if it stays.
I don't know any more than JNO does. Although, as haruspex, he does prod the entrails of cattle. I read tea leaves.
The rate has been 1.1 (something) for ages, whether it's 1.12 or 1.16 makes very little difference to the tourist but it makes a big difference to the currency speculators who are dealing in very large sums.
What is more important is which agent you use for the exchange, UK banks and Thomas Cook are usually not a good idea. Worth checking around, but don't get obsessed - it's only money :0)
What is more important is which agent you use for the exchange, UK banks and Thomas Cook are usually not a good idea. Worth checking around, but don't get obsessed - it's only money :0)
Strictly speaking there still *is* a vote today, although the chances are that it will merely confirm the scheduled series of votes on or by March 12th, rather than be important itself. For example, had Theresa May *not* promised that schedule, then there would have certainly been an amendment on whether MPs could have held those votes anyway.
The government tabled an amendable motion on its approach to exiting the EU. It's a relatively meaningless motion, the current text simply stating "that this House... notes that discussions with the EU are ongoing", but some of the suggested amendments could have been significant, most notably the "Cooper-Letwin" Amendments (c, d), that if they were accepted would see Parliament taking control of the whole process.
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