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Is the GBPEUR rate really justified?

  • 11-08-2016 3:12pm
    #1
    BrokenArrows
    Registered Users, Registered Users 2 Posts: 7,501 ✭✭✭


    The GBPEUR just dropped below 1.16 to 1.1597

    Is such a bad rate really justified. Its not as if the Euro is strengthening, it is just zero confidence after the brexit vote.

    It hasnt been that low since 2013, but in 2013 the Euro was much stronger across all the currencies.


Comments

  • #2
    lucky john
    Registered Users, Registered Users 2 Posts: 838 ✭✭✭lucky john


    maybe the question should be Is the uk economy that weak. If it is then the UK government and CB will continue to pursue policies that will weaken stg. 2 weeks ago cantorfitz predicted €1 = 86p in 1 month, 88p in 3 months and 90p in 6 months.

    so just how much is the UK dependent on europe? Have the leave side totally underestimated the negative impact on the economy or is there over kill on very scant information so far. I think its likely stg will over shoot a sensible level (where ever that is) before it turns around. If it settled between 80 and 85p most exporters here would be happy (relieved even) enough.


  • #3
    Sonnenblumen
    Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    Parity is well within range


  • #4
    oppenheimer1
    Closed Accounts Posts: 6,084 ✭✭✭oppenheimer1


    Sonnenblumen wrote: »
    Parity is well within range

    I think it will fall towards 90c towards the end of the year. Sterling will be in for a turbulent time when art. 50 is eventually invoked, ping ponging on the utterances of politicians and officials.


  • #5
    Geuze
    Registered Users, Registered Users 2 Posts: 14,039 ✭✭✭✭Geuze


    oppenheimer1 wrote: »
    I think it will fall towards 90c towards the end of the year. Sterling will be in for a turbulent time when art. 50 is eventually invoked, ping ponging on the utterances of politicians and officials.

    I presume you mean 90 pence?


  • #6
    oppenheimer1
    Closed Accounts Posts: 6,084 ✭✭✭oppenheimer1


    Geuze wrote: »
    I presume you mean 90 pence?

    Sorry, yes of course, 90 pence.
    .


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  • #7
    Sonnenblumen
    Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    lucky john wrote: »
    maybe the question should be Is the uk economy that weak. If it is then the UK government and CB will continue to pursue policies that will weaken stg. 2 weeks ago cantorfitz predicted €1 = 86p in 1 month, 88p in 3 months and 90p in 6 months.

    so just how much is the UK dependent on europe? Have the leave side totally underestimated the negative impact on the economy or is there over kill on very scant information so far. I think its likely stg will over shoot a sensible level (where ever that is) before it turns around. If it settled between 80 and 85p most exporters here would be happy (relieved even) enough.

    a strong € /weak £ would make exports more expensive, so hardly good news for exporters. Cost of imports will be cheaper but will it be passed on to consumers , unlikely?


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