PDA

View Full Version : Sterling vs. Euro



Rantor
17th September 2007, 07:53
Sterling is at a 52 week low against the euro presumably because the the debt-sodden UK economy seems a wee bit precarious at the moment.

I am planning on moving more of my hard-scammed cash out of Sterling but undecided over the rate/currency

I am sure there must be some experts on here who can offer some helpful, insightful advice - any thoughts?

BTW - I have already considered the scratchard option.:grin

milanbenes
17th September 2007, 08:02
do you own research etc,

in my opinion the Euro is going to become the safe haven for everybody, people holding U$D and buying Euros

or course there is not much safer than CHF

and then AU

good luck.

Milan.

BlasterBates
17th September 2007, 08:03
The Swiss Franc, Euro and Japanese Yen are good bets. The pound looks very precarious to me. Its been high for a long time, but I think the Bank of England's move into the mortgage market is not good for its credibility The Bradford & Bingley looks like it might also be taken over by the BOE. The pound is not only supported by gold reserves, but also Northern Rock's property portfolio. You could also try a money market fund. That should protect it.

Rantor
17th September 2007, 08:13
The Swiss Franc, Euro and Japanese Yen are good bets. The pound looks very precarious to me. Its been high for a long time, but I think the Bank of England's move into the mortgage market is not good for its credibility The Bradford & Bingley looks like it might also be taken over by the BOE. You could also try a money market fund. That should protect it.

I agree with the precariousness of the pound (plus Milan's DYOR!) My cunning plan was to ride out the strong pound/high-interest rate scenario till the end of the year but recent event have made this a dodgy prooposition.

I guess I am concerned more about the timing - changing at 1.44 is bad in comparison to 1.50 but great in comparison to 1.30. I guess if I knew the answer I wouldn't be doing what I do for a living.

mrdonuts
17th September 2007, 08:39
supported by gold reserves

weren't they sold off on the cheap a few years back?

sasguru
17th September 2007, 08:47
The pound has fallen simply because the markets are betting that we have come to the end of rate rise cycle and the next move is down.
They are right.

Swiss Tony
17th September 2007, 09:43
Strongest Currency’s in the world:

1. The Kuwaiti dinar
2. The Maltese lira
3. The Bahraini dinar

Not sure I would put my money there but they have been the strongest for some time (in terms of exchange rate etc)

Failing that barrels of oil would be a good bet :D

Rantor
17th September 2007, 09:48
The pound has fallen simply because the markets are betting that we have come to the end of rate rise cycle and the next move is down.
They are right.

Plus they are expecting the ECB o,nterest rate to go up by the end of the year.

@rse, bùggér, bollox - I may have made a wee timing error.

Swiss Tony
17th September 2007, 09:51
Maltese lira it is then! :banana:

DS23
17th September 2007, 10:00
1. and 3. are in the fallout zone...

there is no fallout free zone

Swiss Tony
17th September 2007, 10:02
there is no fallout free zone

Right scrap the currency change and invest in a nice concrete bunker.

Start trial runs a la Del Boy and Rodders! :happy

alreadypacked
17th September 2007, 12:05
I have been saying that Sterling was over priced for years, now it is actually falling I am surprised.

Then I shouldn't be, I am now paid in Sterling just my luck. :mad

Dundeegeorge
17th September 2007, 14:49
There's fallout and then there's fallout...:laugh

If it looks like it's snowing, then generally that's very bad news.:eek: :eek

allegedly.

Joe Black
17th September 2007, 18:59
I agree with the precariousness of the pound (plus Milan's DYOR!) My cunning plan was to ride out the strong pound/high-interest rate scenario till the end of the year but recent event have made this a dodgy prooposition.

I guess I am concerned more about the timing - changing at 1.44 is bad in comparison to 1.50 but great in comparison to 1.30. I guess if I knew the answer I wouldn't be doing what I do for a living.Forex is a tricky business to predict, like pretty much everything in the markets. Either you take the long view, for one reason or another, or you hope to profit from short/shortish term changes. In the latter case though you need a constant watch on what's happening.

Given Greenspan's comments today I'm hoping it'll drop a bit more as I've held off buying GBP given the level it previously was.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/exclusions/hubpages/greenspan/greenspan.xml

Rantor
17th September 2007, 19:48
How's it going Joe?

I was assuming sterling is heading downwards but I've not got the other accounts in place yet. Would be nice if it firmed up a bit this week but I have NFI what will happen.

Things are gathering pace over here and it seems to be sinking in that this time it really is the start of the end-game. Bloody glad I didn't buy a house last year

A very liberal-mined vlaams chum told me (in all seriousness) that I still had time to decide what side I should be on. :spank:

Joe Black
18th September 2007, 06:07
How's it going?, Not too bad, certainly work wise.

Still waiting to see what happens with the case I started though. After getting some legal opinion they decided to take it up and are now awaiting an official response. Will be interesting to see what that is... :rolleyes:

Been watching the old GBP myself the last few months, but holding off. If it drops some more I might think of buying in.

What side you should be on? I'm presuming you're refering to the 'great divide' here. Are they going to starting building a wall? :rollin: