Changing Sterling for EUR pre- Election?

[YRRunner]

The concensus seems to be that Sterling will tank if we get a hung election. With this in mind, is it a good idea to change a largish amount of sterling into EUR, hope for a hung election, wait for sterling to drop and then buy the Sterling back? My other question is... who are the best large currency dealers out there? Thank you.

Edited by YRRunner on Tuesday 27th April 21:25

[ringram]

Dude, thats risky. Have you paid any attention to Greece recently? That could go badly. The rest of the PIIGS might hit the fan too.
Wonder that might happen to the Euro then!?
Also there is some suggestion that a "balanced" parliment might actually be a positive.
The consensis is for a large reduction in the deficit, so a cross party solution would have the backing of a larger majority of the electorate and allow each side to blame the other for the most savage cuts.

[NoelWatson]

YRRunner said:

My other question is... who are the best large currency dealers out there? Thank you.

Edited by YRRunner on Tuesday 27th April 21:25

I would be interested in suggestion for this too.

[Yeast Lord]

It's too late I think. I thought about changing up my 20k savings into dollars as it appears to be strengthening and a hung parliament isn't exactly going to be good for the pound. I asked my bank and they said could take more than a couple of weeks to set up because I have to apply to their Jersey based operation.

[Maxf]

Yeast Lord said:

It's too late I think. I thought about changing up my 20k savings into dollars as it appears to be strengthening and a hung parliament isn't exactly going to be good for the pound. I asked my bank and they said could take more than a couple of weeks to set up because I have to apply to their Jersey based operation.

Just buy something traded in $s which isnt hedged. Investment funds, US bonds, gold, comic books

[Yeast Lord]

Kicking myself for not setting a foreign currency account up earlier, now would have been the perfect time to move.

[Scott330ci]

I am on holiday on the 9th

Should I change up before the 6th

[sixspeed]

I'm also going away mid-May. Thinking i might change half my money now, and half after the 6th....

[Yeast Lord]

Traders coming in 1am election night, looks like they are gearing up to make a fortune from sterling's demise:

http://www.johnredwoodsdiary.com/2010/04/29/the-pm...