My holiday Euros
Discussion
This may sound like a holiday thread, but it's very much a Finance one!
All I've heard for the last few weeks is how much pressure the Euro is under, that PIGS are dragging it down etc and that it's generally in a pretty bad way.
Fantastic, I think. Am planning a couple of European forays soon so the exchange rate might be a bit better for the first time in a long time.
Wandering past a (rteasonably competitive) travel agent today and the rate was E1.08:£1.
WTF?
Can any of our resident City-types explain to me why the £ hasn't rallied against the Euro in the slightest (I thought E1.11:£1 last October was bad!). I appreciate that our economy is hardly a glowing reference for good economic management, but there seems to be much more bad news about the Euro.
All I've heard for the last few weeks is how much pressure the Euro is under, that PIGS are dragging it down etc and that it's generally in a pretty bad way.
Fantastic, I think. Am planning a couple of European forays soon so the exchange rate might be a bit better for the first time in a long time.
Wandering past a (rteasonably competitive) travel agent today and the rate was E1.08:£1.
WTF?
Can any of our resident City-types explain to me why the £ hasn't rallied against the Euro in the slightest (I thought E1.11:£1 last October was bad!). I appreciate that our economy is hardly a glowing reference for good economic management, but there seems to be much more bad news about the Euro.
Whilst I'm not a resident of the city I get paid in Euros so have learnt a little about exchange rates.
Recent bad news isn't reAlly news, the situation regarding the PIGS has been known about for a long time and has already been priced in.
I would like to know what the longer term outlike is likely to be as I may end up needing to exchange a lot of Euros for Sterling sometime in the next couple of years.
Recent bad news isn't reAlly news, the situation regarding the PIGS has been known about for a long time and has already been priced in.
I would like to know what the longer term outlike is likely to be as I may end up needing to exchange a lot of Euros for Sterling sometime in the next couple of years.
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