Euro V Sterling. Optimum rate ?

boomchicawawa · 12-05-2010 8:35pm #1

I'm pure sick of reading the hysterical headlines when the Euro rate changes. If the rate is nearly on par we hear that our exports will suffer and people will flood over the border to shop. But when the rate drops we hear that our national debt will rise and we will all be the poorer for it. Can someone with economic savy tell me what the optimum rate is. 87c ??? 94c???

galwayrush · 12-05-2010 8:36pm

Honestly, i don't give a **** as long as it suits me, it's been great travelling to the UK in recent years, makes beer seem so reasonable.

KevinVonSpiel · 12-05-2010 8:53pm

boomchicawawa wrote: »

I'm pure sick of reading the hysterical headlines when the Euro rate changes. If the rate is nearly on par we hear that our exports will suffer and people will flood over the border to shop. But when the rate drops we hear that our national debt will rise and we will all be the poorer for it.

You're on to something there; it's called the pessimistic view or doom & gloom merchant-ery (?)

boomchicawawa wrote: »

Can someone with economic savy tell me what the optimum rate is. 87c ??? 94c???

It depends whether you've got a load of sterling that you want to turn into euros or a load of euros that you want to convert into sterling...

3DataModem · 12-05-2010 8:56pm

I live in sterlingland (but not UK or EU) so ship a couple of grand sterling a month to cover my Irish car loan and mortgage. The crapper the euro gets, the cheaper my car and mortgage gets!

boomchicawawa · 12-05-2010 9:09pm

I think thats why it makes me so cranky. De papers never seem to be happy and are all gloom and doom no matter what the rate is, yr f** either way as far as they are concerned. really rains on my parade when I think i'll save a few bob on de exchange rate....anyway we never seem to get the benifit of the savings when its good passed on to us by the uk retailers...but thats another days moan :rolleyes:

PK2008 · 12-05-2010 9:39pm

The Euro rebounded today so I wouldnt sell just yet

Also I heard Spain posted growth aswell so is technically out of recession which should help.

Euro gains: http://www.reuters.com/article/idUSLDE64B0T020100512

Spain out of recession: http://www.dailymarkets.com/releases/2010/05/11/spain-exits-recession/

To answer the question though, Im not sure there is an overall optimum rate, it depends on your own trading viewpoint i.e. do you want to sell euro's or buy euro's

PK2008 · 12-05-2010 9:41pm

(double post)

Euro V Sterling. Optimum rate ?

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