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GBP vs Euro
Posted: 2013-02-01, 11:51 pm

loolz Power Kat
Posts: 567
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The pound has lost a lot of value against the Euro over the last few weeks. I don't really understand how this all works... does anyone know if it is likely to keep dropping or could it start going up again? I might exchange some cash soon if it looks like it's going to continue getting worse.

At the moment, the rate is £1 = 1.15€. I got a rate of 1.21 when I exchanged money in late December. This difference almost equates to a session in the RLD :\

Cheers
loolz
Re: GBP vs Euro
Posted: 2013-02-02, 1:36 am

akaDrPussy Moderator
Posts: 1294
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Sterling has been weakening due to continuing concerns about the UK economy and the growing threat of it entering a triple dip recession. A further factor is the fear that the UK is now in real danger of losing its AAA credit rating if it does not reduce its sovereign debt. At the same time the eurozone economy is showing some positive signs of slow recovery helping to boost confidence in the euro.

Basically as things stand at the present time the money markets view sterling as a risky bet favouring the euro instead. The way things are looking currently, its unlikely to improve for the foreseeable future and if I was a betting man I would say sterling is more likely to weaken further against the euro than rally.

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I spent a lot of money on birds,booze and fast cars.The rest I just squandered.....George Best.
Re: GBP vs Euro
Posted: 2013-04-30, 6:21 am

Mojito
Posts: 333
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The Pound has retraced slightly to 1 GBP to 1.185 Euro.
It should stabilise at around this region. It is unlikely to reach 1 GBP to 1.25 Euro again in the next few months.
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