# euroes



## dragabed (May 24, 2008)

why is the euro on the decline?


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## EJB (Aug 25, 2007)

Spain, Greece, Ireland etc :wink:


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## 100127 (Jul 20, 2006)

No idea but bought some last week on Caxton for 1.20.
Now lower than 1.17.


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## Techno100 (May 8, 2010)

If you get less euros its because the £ is declining not the euro


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## joedenise (Jul 20, 2007)

Because we may leave EU

joe


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## raynipper (Aug 4, 2008)

It's the Pound thats going down as we are 'tied' to the Dollar which is down the drain.

The Pound has remained about the same with the Dollar for about a year. But even with the Euros demise due to Greece, Spain, Italy and Portugal we are all going down the plughole together.

Ray.

p.s. it's Dave Ps fault.


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## charlieivan (Apr 25, 2006)

joedenise said:


> Because we may leave EU
> 
> joe


That is very unlikely because our politicians will never sanction an IN/OUT referendum. Camerons latest ploy is not going to be for in/out, that it seems the majority of Britain want, but for a change. By delaying this vote until the next parliament he almost guarantees it will not happen.


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## brianamelia (Mar 17, 2008)

*reply*



charlieivan said:


> joedenise said:
> 
> 
> > Because we may leave EU
> ...


Why ?


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## charlieivan (Apr 25, 2006)

*Re: reply*



brianamelia said:


> charlieivan said:
> 
> 
> > joedenise said:
> ...


Because if the referendum on change does go ahead then they can turn round and claim that we had a referendum and opted to stay in with changes!!!!


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## cheshiregordon (Sep 24, 2011)

the pound is forecast to slide most of this year due to an unsustainable foreign trade deficit. Plus the euro has steadied as they get their act together.
I've been thinking of buying my euros now ready for May.

If as forecast the pound does continue to slide it will probably increase inflation.


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## raynipper (Aug 4, 2008)

There is absolutely no logic to currency variations.!
In fact personally I would follow an illogical choice.

Ray.


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## joedenise (Jul 20, 2007)

joedenise said:


> Because we may leave EU
> 
> Because theres talk of a referendum on leaving or change to our EU status it been on the news on the tv if I have seen it someone with a lot more clout with moving money about would have seen it to
> 
> ...


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## 747 (Oct 2, 2009)

As I reported on this forum over a week ago. The French quarterly economic figures were worse than expected and a dip in the Euro was expected.

Do try to keep up at the back!


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## 100127 (Jul 20, 2006)

747 said:


> As I reported on this forum over a week ago. The French quarterly economic figures were worse than expected and a dip in the Euro was expected.
> 
> Do try to keep up at the back!


I'm trying, but its hard. :? :? :?


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## selstrom (May 23, 2005)

The £ is dipping, the € is rising!


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## raynipper (Aug 4, 2008)

Euro Rises Against Swiss Franc, Pound

By ALEXANDRA FLETCHER

The euro climbed to its strongest level in several months against the pound and Swiss franc in European trading Monday as investors prepared for a speech by Federal Reserve Chairman Ben Bernanke and continued to lap up the idea that the worst of the euro-zone crisis might be over.

Against the pound the common currency rose above £0.83 to its highest level in more than nine months while against the Swiss franc it was at its strongest in more than a year, shrugging off data that showed euro-area production contracted by 0.3% in November.

The euro also traded close to a 10-month high overnight against the dollar after a European Central Bank chief economist was quoted saying there is a "good chance" that the worst of the crisis is over, echoing the central bank's upbeat tone Thursday when it left interest rates unchanged.

Also a focus for currency traders were scheduled speeches by U.S. Fed policy makers, including San Francisco Fed President John Williams and Mr. Bernanke, amid talk they could counter the Federal Open Market Committee minutes from December which suggested the U.S. asset-purchasing program could end this year.

"If he attempts to talk down the more hawkish FOMC minutes earlier this month, the dollar could come under further pressure," said Kiran Kowshik, a currency strategist at BNP Paribas BNP.FR -0.41% in London.

Jane Foley, senior currency strategist at Rabobank in London, said market confidence was improving and currency investors were in the mood to bet on higher-yielding currencies against the dollar.

"That is supported by expectations that [Messrs.] Bernanke and Williams will (support accommodative monetary policy) which will add to dollar weakness," she said.

One exception was the Hungarian forint, which fell to a seven-month low against the euro and traded close to a technically important level of 300 forints. The Hungary economy ministry blamed speculators for the forint's plunge and singled out high-profile economist Nouriel Roubini for advising against it.

In early New York trade, the euro was at $1.3351 compared with $1.3343 late Friday. The dollar was at $89.26 compared with ¥89.19, while the euro was at $119.16 from ¥119.01. The pound fetched $1.6043 from $1.6132.

The Wall Street Journal dollar index, which tracks the U.S. dollar against a basket of currencies, was at 70.54 from 70.498.


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## 747 (Oct 2, 2009)

selstrom said:


> The £ is dipping, the € is rising!


That is probably correct at the moment. Trying to forecast the future exchange rates of the US Dollar, Pound and Euro is like trying to knit Soup.


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## Easyriders (May 16, 2011)

Never understand why people swallow the stuff about "Eurocrisis" without taking on board that the UK is even worse!

Back in 2007, before the so-called Eurocrisis, the euro was worth only 75p. Two months ago it was worth 80p, now it's worth 83p.

The pound is doing much worse than the euro. This is because of "quantititive easing" or printing more useless money as it used to be called, and because the dozy Bank of England refuse to raise interest rates. Not raising them is supposed to help exports, but as the UK are net importers, it just makes the balance of payments worse.

It also means savers lose money day by day.

If the government and the Bank of England don't get their act together soo, we'll have to cart our quids round in wheelbarrows to pay for our shopping!


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## Penquin (Oct 15, 2007)

IMO it is no surprise that Europe and the USA do not have much confidence in the UK and the £......

while there is talk of "renegotiating our terms" or "holding a referendum" or "bringing back powers from Europe" then confidence in a reasonable standard of behaviour will be limited to say the least....

The USA wants us to have a foot in Europe for their own benefit, if it was not us they would not support the UK in many respects.

Europe at present is trying to overcome a massive internal problem as regards the Euro - and they have recognised that there is no easy way out.

Sadly, IMO Cameron is making things worse by his hints and statements and projected long-term wishes - most of which are primarily to offset the growth in UKIP popularity and partly due to the wishes of some loud mouthed Tory bigwigs who hold too much sway.

"Softly, softly catchee monkey" has worked well in the past in negotiations, confrontation rarely achieves the desired result.

So while there is suspicion about the UK's intentions, the £ will slide as we do not have the economic growth to ensure that investors want to put their money into UK companies - why should they when so many are going down the pan? There is no protection against such losses and every likelihood that the result will not be positive.

So the £ will continue to fall, UK borrowing will continue to rise, jobs will continue to be lost, companies will continue to call in the administrators and there is nothing that any of us can do about it.......

Pessimistic yes, but there is no sign of ANY of the growth that has been hinted at so many times by those in power who wear rose-tinted glasses when viewing the success (or otherwise) of their actions.

Neither do we have any credible alternative at present - the Opposition are totally out of their depth and the members of the Coalition are bending over backwards to identify differences between them rather than working together positively towards the future. There is little confidence that their actions so far will ever achieve what they claimed......

Dave


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## 747 (Oct 2, 2009)

A weak £ attracts inward investment.

There is not much of it about at the moment but it puts us in a stronger position when economies start to pick up.

I think that big business puts more emphasis on where it is cheaper to set up, rather than what might or might not happen in the future, especially in the present climate.


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## Glandwr (Jun 12, 2006)

It is because the markets are discounting the imminent announcement that, thanks to the actions of this idiotic chancellor, the UK is about to enter the first triple dip recession in living history. :roll: 

Dick


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## Techno100 (May 8, 2010)

It's been one very long dip


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## goldi (Feb 4, 2009)

Afternoon all,


The euro appears to have stabilised and the the markets like stability 

I hve been considering getting some euros in just in case the sterling pound slides further.


norm


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## Roadhogg (Oct 6, 2012)

Japanese tourist on holiday in USA gets more & more infuriated when every time he changes some yen to dollars the exchange rate gets less & less, so much so that in temper,he confronts the branch manager to ask why
FLUCTUATIONS explaines the manager
FLUC you American's too replies the tourist

(just thought it might brighten up the topic a bit)


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## DTPCHEMICALS (Jul 24, 2006)

The pound euro rate rose to 1.25 as I forecast last year. Now we have to have a decline so that the bankers can manipulate a rise again.
Thats how they make money. Its the same as any comodity pricing.
Dave p


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## DTPCHEMICALS (Jul 24, 2006)

Glandwr said:


> It is because the markets are discounting the imminent announcement that, thanks to the actions of this idiotic chancellor, the UK is about to enter the first triple dip recession in living history. :roll:
> 
> Dick


Sorry Dick I have to disagree. We have been in one long recession. Double and tripledipping is for politicians. A slight improvement in figures has them jumping around with glee until the weed killer comes out and kills the green shoots.
Dave p


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## joedenise (Jul 20, 2007)

So its you Dave that the bankers take notice of

joe

waiting with baited breath for your next forecast

joe


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## Glandwr (Jun 12, 2006)

DTPCHEMICALS said:


> Glandwr said:
> 
> 
> > It is because the markets are discounting the imminent announcement that, thanks to the actions of this idiotic chancellor, the UK is about to enter the first triple dip recession in living history. :roll:
> ...


Why has it just happened here Dave? (figures out on the 25th although thexmarkets have had their indicators as always before us)

Dick


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## DTPCHEMICALS (Jul 24, 2006)

joedenise said:


> So its you Dave that the bankers take notice of
> 
> joe
> 
> ...


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## teemyob (Nov 22, 2005)

*what I mean*



Techno100 said:


> If you get less euros its because the £ is declining not the euro


A common thing people say to me along with "what with the euro as it is, rubbish" (they mean what with the £ so weak against the € (compared to the 1.74-1.81 €uros to the pound it peaked at)).

When I correct them, they say "you know what I mean".

Even 10 years to this day, it (the GBP) was hovering around 1 - €1.5 Euros.

TM


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## Penquin (Oct 15, 2007)

I am minded to suggest a change of title for this thread from;

"euroes" to "Eur woes"

Dave :lol: :roll:


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## vicdicdoc (May 14, 2005)

Being smart :?, the other day I went to buy euro's it was 1.20, I thought I'd wait till the next day incase it went up . . it went down & again the next day so I finally ' bit the bullet & got some at 1.18 before it hits parity with the £ … oh for the days when it was around 1.40 !


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## Easyriders (May 16, 2011)

747 said:


> A weak £ attracts inward investment.
> 
> There is not much of it about at the moment but it puts us in a stronger position when economies start to pick up.
> 
> I think that big business puts more emphasis on where it is cheaper to set up, rather than what might or might not happen in the future, especially in the present climate.


A weak pound does not encourage investment. It makes it cheaper to export, but dearer to import. So unless the UK produces all of the raw materials, and everything before sale, the net result is bad for investment.The UK imports far more than it exports, even from the EU, so a weak pound makes no sense. We pay various highly paid people in the Bank of England who keep peddling the same failed formula; keep interest rates low. They are all idiots.

This isn't to help you and me. They keep interest rates low in order (they hope) to keep rates low in order to borrow money to keep the UK economy afloat. The UK has borrowed more money than ever in the last couple of years.

Why do they need to borrow money? Because of a simplistic idea of "Austerity", by which many people, first public sector workers, lose their jobs (their work is supposed to be covered by the private sector).
Not only are their jobs not covered, but even more jobs in the private sector are also lost.

For every one of those jobs lost, not only will the unemployed person have to claim benefit, but they will no longer be paying tax. In reward for this poverty, these poor unfortunates will be branded by the likes of the Daily Mail as "Scroungers"! These job losses, both public and private, are engineered by the UK government. Remember "A price worth paying"? Nothing changes much.

A weak pound also does not encourage investment in the pound (sterling) itself. Investment in currency is not rocket science; it's about what the currency is worth in real terms, and what it offers in interest rates,

At present, the pound is doing very badly because it is devalued; the Bank of England are printing more and more money, and it's worth less and less. It's worth less and less because the UK has a huge, and ever increasing debt, largely because of forced unemployment; because interest rates are too low to encourage investment; because low interest rates encourage borrowing and discourage saving; and because the government of this country couldn't give a monkey's about how ordinary people live, or how many people lose their jobs. Why would they? The only public sector jobs that are protected are those of M.P.s, who get a very generous full pension after 15 year's service (unlike any other public servant).

Many of them don't need it anyway. In a world run by millionaires like Cameron and Clegg, who could expect reality?


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## dragabed (May 24, 2008)

*value of pound against euro*

Bad news for travellers as pound's value slumps (but FTSE 100 smashes past 6,300 barrier for first time in almost five years)

Sterling crashes to its lowest level for more than a year against the euro
Falls to a five-month low against US$ as 'abysmal' start to 2013 continues
But FTSE 100 topped 6,300 yesterday for the first time since May 2008
Chancellor George Osborne: Britain faces 'difficult economic situation'

By Hugo Duncan and Matt Chorley, Mailonline Political Editor

PUBLISHED: 17:02, 28 January 2013 | UPDATED: 05:40, 29 January 2013

Comments (0)
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Britons travelling abroad were last night told to brace for less cash in their pockets as the value of the pound tumbled.

Sterling crashed to its lowest level for more than a year against the euro and to a five-month low against the US dollar as its 'abysmal' start to the year continued.

The pound has lost more than 5 per cent of its value against the single currency since New Year's Day - putting it on course for its worst month since 2008.

The pound fell to 1.16 euros - its lowest level since 2011 - before clawing back some of its losses. It was trading above 1.23 euros early this month and close to 1.29 euros as recently as July.

The pound has not fallen so sharply in a month since December 2008 in the aftermath of the collapse of Lehman Brothers.

William Poole, a strategist at currency broker FC Exchange, said: 'The pound is truly having an abysmal start to the year.'

Roberto Mialich, a currency strategist at UniCredit, added: 'Economic reports out of the UK, especially the GDP data, have not looked very encouraging. The pound is likely to remain under pressure.'

Read more: http://www.dailymail.co.uk/news/art...s-despite-fears-UK-economy.html#ixzz2JLnJjZyp
Follow us: @MailOnline on Twitter | DailyMail on Facebook


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## peribro (Sep 6, 2009)

It's good news - our exports will become cheaper, our imports more expensive and the economy will return to growth.


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## dragabed (May 24, 2008)

why do we have to import so much? 
we used to manufacture and produce lots more than we do now and we had lots of people in work who spent there wages and kept the country ahead of our eu friends .


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