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Pound-Euro 2016

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Jimbo:
I notice various people have started the usual discussion on Facebook about whether it's better to buy Euros now or wait and see if the rate goes up.
Today (March 17) TravelFX's rate is 1.245.

Before Xmas it was over 1.4 - that is before Cameron announced the referendum date in February. The referendum has created a climate of instability, so it's very unlikely that we are going to see the rate go much higher.

HSBC and other banks are predicting a potential drop of 20% in the rate in the event of a Brexit vote: http://www.theguardian.com/business/2016/feb/24/brexit-could-wipe-20-percent-off-the-pound-warns-hsbc

The net result of that would be (on today's rates) a new rate of 0.996. As a consequence, we could expect a 20% increase in the cost of a holiday.

The conclusion for me is that it's probably better to buy Euros well before June. If it goes much above 1.3 I'll get some.

rilo57:
About time we got a good rate for visiting the UK..lol

Jimbo:
Spot on. You'll be an effective export! Congratulations.

rilo57:
Yammas

Intentioncraft:
Expect the best,prepare for the worst,capitalise on what comes.

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