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Thread: Buying Euros- before or after election ?

  1. #1

    Buying Euros- before or after election ?

    What does anyone reckon?
    I have a couple of trips in the next month or so
    Better to wait till after the election?

  2. #2
    Master wileeeeeey's Avatar
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    Depends who wins...

  3. #3
    Master Top Cat's Avatar
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    I read a couple of articles and of course it is all speculation but they said Conservative majority £1 = Ä1.20, Labour majority £1 = <Ä1.10. Make of that what you will!

  4. #4
    Master
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    Sterling has strengthened quite a bit in the last couple of months

  5. #5
    Master
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    Anyone on a watch forum who claims that they can predict currency movements is a total liar. If they could, they wouldn't be talking about watches, they would be sitting in an office making millions.

    They wouldn't even physically buy a watch, they would send the intern out to do it for them.

  6. #6
    Apprentice
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    I bought some today for a trip later this week.

    £1 = Ä1.154

  7. #7
    Master
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    Quote Originally Posted by Mick P View Post
    Anyone on a watch forum who claims that they can predict currency movements is a total liar. If they could, they wouldn't be talking about watches, they would be sitting in an office making millions.

    They wouldn't even physically buy a watch, they would send the intern out to do it for them.

    Well this isn't a prediction per se; just what I expect. And I expect that the £ will be worth more against the Ä on Dec 13th than it is now. As of this moment:


  8. #8
    Iíll consult my crystal ball when I get home and get back to you.

  9. #9
    Master
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    Quote Originally Posted by GOAT View Post
    What does anyone reckon?
    I have a couple of trips in the next month or so
    Better to wait till after the election?
    Do you use a Transferwise multi-currency card David - if not, check it out on the web, it is very useful

  10. #10
    Grand Master oldoakknives's Avatar
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    Blue=up. Red=Down.
    Courage is being scared to death but saddling up anyway.

  11. #11
    Grand Master
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    For anyone whoís going to need some in the next 12 months I think itís worth hedging your bets and buying a few at the current price, 1.15 is far better than the rate several weeks ago. Far better to buy some now than try to predict which way itíll go. Next yearís going to be busy for me (house move etc) so Iíve no holiday plans, but Iím still tempted to buy a few Euros, Iím sure Iíll get away to Spain or Canaries at some point.

    Hopefully, when brexitís resolved, weíll see some stability and the exchange rate will move in the right direction, doesnít seen long since I was buying Ďem at 1.35!

  12. #12
    Craftsman
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    Looking to book a break away for early in 2020 so Iíve been watching the rates, I think if we get a good rate before Friday or maybe Monday I have a few quids worth, probably half my usual spend, just in case, think it will be a case of an each way bet.

  13. #13
    Quote Originally Posted by walkerwek1958 View Post
    For anyone whoís going to need some in the next 12 months I think itís worth hedging your bets and buying a few at the current price, 1.15 is far better than the rate several weeks ago. Far better to buy some now than try to predict which way itíll go. Next yearís going to be busy for me (house move etc) so Iíve no holiday plans, but Iím still tempted to buy a few Euros, Iím sure Iíll get away to Spain or Canaries at some point.

    Hopefully, when brexitís resolved, weíll see some stability and the exchange rate will move in the right direction, doesnít seen long since I was buying Ďem at 1.35!
    Thanks for all the thoughts
    I was coming to Paulís conclusion but know there are some here with a much better ďguessĒ than me to answer Bills question, yes we use revolute but have had a few ďmisfiresĒ and one particular hotel I use wants cash in order to do a good room rate.

  14. #14
    I think the standard answer is: half before, and half after. Win - Win.

  15. #15
    Craftsman
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    Ironically, I was just thinking about this today as I've got a few trips late Dec-Jan to the Eurozone.

    Think I will get some cash this week and as I use my credit card (with on the spot rates) for larger amounts during the trips themselves, it essentially acts as a half pre and half post election hedge! If rates go up a lot, could just use the card more and keep the cash for other trips as you usually need some cash and I'll probably be in Europe later in the year.

  16. #16
    Quote Originally Posted by oldoakknives View Post
    Blue=up. Red=Down.
    Not sure it is that simple - prospect of cons win is considered to be supporting the UKP and Red would likely be down - doesn't blue imply Brexit & Brexit has consistently meant down ? Blue/Blue could mean a hard Brexit and definietly down.

    For a holiday I would buy now.

    As a business we are hedging our Sterling AR weekly/daily up to the 12th.

  17. #17
    Grand Master oldoakknives's Avatar
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    Quote Originally Posted by MB2 View Post
    Not sure it is that simple - prospect of cons win is considered to be supporting the UKP and Red would likely be down - doesn't blue imply Brexit & Brexit has consistently meant down ? Blue/Blue could mean a hard Brexit and definietly down.

    For a holiday I would buy now.

    As a business we are hedging our Sterling AR weekly/daily up to the 12th.
    We'll have to wait and see then.
    Courage is being scared to death but saddling up anyway.

  18. #18
    Think Iím going to be glad I waited....

  19. #19
    Craftsman
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    Wait another few days, predictions are further rises in the short term.

    ďSterling soared higher by over 2% as nervous traders who had been selling sterling during the day, just in case it was another hung parliament, began buying it with gusto. I suspect there was as much relief, as there was excitement at the size of the majority that was so unexpected. Sterling is now set to challenge some fairly significant levels against both the euro and the US dollar. If sterling breaks above these levels, it could very well drive some big moves higher towards 1.25 and 1.40, at least in the short term,Ē says Andy Scott, Associate Director at JCRA.

  20. #20
    Master Jon Kenney's Avatar
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    Quote Originally Posted by Top Cat View Post
    I read a couple of articles and of course it is all speculation but they said Conservative majority £1 = Ä1.20, Labour majority £1 = <Ä1.10. Make of that what you will!
    Blob on.


  21. #21
    Grand Master oldoakknives's Avatar
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    Quote Originally Posted by oldoakknives View Post
    Blue=up. Red=Down.
    Quote Originally Posted by MB2 View Post
    Not sure it is that simple - prospect of cons win is considered to be supporting the UKP and Red would likely be down - doesn't blue imply Brexit & Brexit has consistently meant down ? Blue/Blue could mean a hard Brexit and definietly down.

    For a holiday I would buy now.

    As a business we are hedging our Sterling AR weekly/daily up to the 12th.
    Sometimes things are that simple. ;-)

    Quote Originally Posted by Jon Kenney View Post
    Blob on.

    Courage is being scared to death but saddling up anyway.

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