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 Post subject: Currency - GBP / Euro
PostPosted: April 24th, 2012, 2:15 pm 
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Joined: February 20th, 2012, 2:57 pm
Posts: 42
Halo

Greece has got its bailout so all is right with the world then...or is it? New reporters have spent the last few months looking for good procrastination metaphors. We keep hearing about the EU ‘kicking the can down’ the road or ‘parking things in the long grass’. The approval of an effective consolidation loan for Greece and the default on up to 70% of Greece’s private sector debts haven’t solved the problem; just delayed things; at least until after the German and French elections. (There I go being cynical again). What this means for the Euro is that no one is quite at the trusting stage yet. Hence, the Euro is a tad stronger against the US Dollar but is at the weaker end of its range against the Pound and many other currencies. Sadly sterling doesn’t have the oomph (it’s a technical term) to bust out of its range against the Euro and it remains capped at just above €1.2000. Events this week may change that position but, until I see it, I won’t rely on the Pound making any headway. And I certainly don’t see that happening until the budget statement is out of the way on Wednesday.


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PostPosted: July 6th, 2012, 8:56 pm 
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Joined: June 25th, 2008, 6:39 pm
Posts: 1175
Location: Carmarthen, south west Wales / Santa Maria di Ricadi, Capo Vaticano
Tonight the GBP - Euro is on a 5 year high at 1.26. Will it get to 1.30 that was predicted by some commentators a few months ago?
Also noticed tonight that the 1 month Euribor has dropped dramatically from 0.362 to 0.255 today.
It was already sliding gradually as it has been for some time but the ECB dropping interest rate from 1% - 0.75% has certainly made a big difference.
Can only be for us going from UK to italy and for mortgages linked to the Euribor.
davidnam


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