GBP -> EUR -time to buy / predictions

W

WeLuvIbiza

Active Member
Trading around 1.20 at the moment, could reach the 2 year high of 1.23 in the coming days/ weeks and might be a time to get a few quids worth for summer hols?

Any forex experts with an opinion?
 
Given the state of the euro zone, particularly portugal in the short term i'd hang on as that figure is only going to go north.

if the euro exists by summer time!
 
agentundercover said:
Given the state of the euro zone, particularly portugal in the short term i'd hang on as that figure is only going to go north.

if the euro exists by summer time!
Click to expand...
I'm not so sure. I think expectations of problems in Portugal & Spain are already priced in.

Between the US Fed printing dollars and the Euro taking various near-sovereign-default hits (Greece, Ireland, whoever is next), I'd expected weakness in both so that I could cash out some of my hoard of rubles, but they've both been pretty stable in 2H 2010.
 
There is strong growth in the German economy hense risks of inflation. The ECB has warned that interests rates may rise as early as September to try and cool down the economy.

Both Portugal and Spain easily sold bonds at lower than expected interest rates at a recent market so there seems to be confidence returning to the euro again.

There is talk here in Ireland that we may be able to return to the Bond Markets soon and borrow at lower rates than the 5.8% the IMF are lending at. Significant growth in our exports and our low corporation tax have yielded better than expected tax returns.

IMO The Euro will only get stronger or crash altogether if Portugal, Italy or Spain go bust.

So buy now
 
You must log in or register to reply here.
Back
Top