Exchange rate predictions??

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28 Jun 2011 00:00 by smivs Star rating in Oldham - Jardin 2,.... 700 forum posts Send private message

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Hi All

Now I know there are some financial wizards on this forum so have you got any Euro/Pound exchange rate predictions or is it all doom and gloom???



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28 Jun 2011 15:02 by darren.wilkes Star rating in Bolton/Vegas. 747 forum posts Send private message

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People are saying that Greece could drag down the Euro further, however the pound is so linked to the Euro its dragging the pound down with it.

Also the Eurozone has higher interest rates than the UK so this is keeping the exchange rate low.

I predict a range of 105-120 this year. 

I know the peak was about 150 to the pound, but I cant see the pound getting that strong in the next 5-10 years.

Long term trend in my opinion would be 120-130 cents to the pound.

Only my opinion and only time will tell. 



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28 Jun 2011 15:18 by smivs Star rating in Oldham - Jardin 2,.... 700 forum posts Send private message

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How sad it is now that I would be happy with 1.20 to the pound, 1.30 even better, when I bought my apartment I got 1.51 to the pound!!!  if only I knew then............  I would have forward contracted for my Euro's !!



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28 Jun 2011 16:33 by darren.wilkes Star rating in Bolton/Vegas. 747 forum posts Send private message

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I did forward contracts with Crown Currency Exchange.... They went bankrupt and took all my money

If ever i can sell my property and get back the money I spent, I will be happy with a 105 exchange rate! even if I could get 100-110K euros they exchange rate differentail would mean I could almost break even.

Our 0.5% base rate is great for my mortgage payments, but not great for my holiday spends!



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28 Jun 2011 18:45 by rich&bops Star rating in Fleet . 266 forum posts Send private message

We will be lucky to see 1.20 this year. saying that even the next few years 1.20 will be a good rate, nothing is stable..  The Euro Zone and bailouts are killing it.

Its down again today to 1.095 .  However if something where going to happen to Greece i think the 1.11 on Reuters would take a massive tumble. 

As Darren says long term 1.30 max.  Saying that i'd be happy with a steady 1.20

 

We didn't bother with a forward contract this year,  I just kept a eye on the market and bought when it peaked round 1.20 mark in Feb this year. 

 

 



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