# Exchange rate



## raynipper (Aug 4, 2008)

Dunno why but the Pound has dropped significantly against the Euro the last few days.
From a high a couple of weeks ago of €1.205 now down to €1.177.

I wonder what dumb politician has opened his gob and put a foot in it??? :? 

Ray.


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## THEPOET (May 1, 2007)

Its because the EU agreed to fund the Greeks again. So everybody (markets wise .....there's a misnomer!) are happy; at the moment.

Pete


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## spatz1 (May 19, 2011)

probably because greek debt was sorted and the euro is in unsinkable shape again :lol: :lol:


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## bigtree (Feb 3, 2007)

The bank of england monetary policy committee had a meeting and agreed that an extra £25bn needed to be pumped into the UK economy.


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## raynipper (Aug 4, 2008)

Well it's no good to me as I am expecting my pension to come in at €1.25 soon as Dave said........ :? 

Ray.


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## javea (Jun 8, 2007)

Caxton were today advising the sale of any Euros held with them at circa 1.17 and to wait a little to purchase again as they are expecting the £ to undergo a surge in value when the ramifications of the Greek bailout and anticipated poor economic results in the Euro zone hit the markets.

I await the surge - as soon as possible!

Mike


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## subfiver (Oct 15, 2011)

> The bank of england monetary policy committee had a meeting and agreed that an extra £25bn needed to be pumped into the UK economy.


The committee implemented £50bn of qe, but it subsequently became known that some members of said committee wanted £75bn. Thats when ££ hit the skids again ...

Did some trades when it was up, but need more; I thought we were on the up and up ..... or was that rose-tinted wishful thinking .... :roll: [/quote]


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## OldWomble (Jul 6, 2008)

*QE or Devaluation?*

Could somebody explain to me what the difference is between 'Quantitive Easing' and 'Devaluation of the Pound'? I think they are the same thing cos every time we get some more QE the amount of Euros we get drops.


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## raynipper (Aug 4, 2008)

I think that King bloke is a right plank. 
Bit like Norman Lamont, George Brown and plonker Darling.

Or maybe it's just me.???

Ray.


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## teljoy (Jul 4, 2005)

*Re: QE or Devaluation?*



OldWomble said:


> Could somebody explain to me what the difference is between 'Quantitive Easing' and 'Devaluation of the Pound'? I think they are the same thing cos every time we get some more QE the amount of Euros we get drops.


So far as we are concerned it's the same but QE sounds so much better and more easily digested by the public.

Terry


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## Chascass (May 10, 2007)

What did I miss yesterday, euro 1.175 in the morning now 1.195.

Charlie


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## teemyob (Nov 22, 2005)

*euro*

Probably because we have helped bail the Greeks and the Euro out.

TM


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## Spacerunner (Mar 18, 2006)

Was tempted to buy some euros when the rate got to 1.20 but hung on hoping it would rise still further.
Serves me right for trying to be a smart ass. Never could understand this money malarkey.


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## subfiver (Oct 15, 2011)

From Caxton's daily report:

"The ECB’s LTRO results were broadly in line with consensus; 800 banks took up €530bn worth of 1.0% loans. The will be more liquidity in the European banking system then, which will ease credit risk, but the market saw fit to take profit on the euro’s recent gains."


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## eddied (May 9, 2005)

Chascass said:


> What did I miss yesterday, euro 1.175 in the morning now 1.195.
> 
> Charlie


The BCE distributed 530 billion eurines to EU banks. So now awash with cash that won't buy anything.

saluti,
eddied


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## ThursdaysChild (Aug 2, 2008)

Silly question.
Where did the ECB get the €500 million Euros from ? ( To add to the €400 million they doled out last year ).


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## Chascass (May 10, 2007)

They print it as we do, and it was 530,000 million euro.

Charlie


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## WiltonShagpile (Apr 10, 2008)

Hi All,

The difference between 'Quantitive Easing' and 'Devaluation of the Pound'? is like the difference between Dustman and Garbage disposal engineer.

Wilt


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