Is the Euro going down against the Pound?

[Theshipscat]

Here's one for all you financial experts.
I have to send a fair bit of cash to Spain about £15k. I'm being offered approx 1.15 Euros to the quid should I do it now or is the Euro about to nose dive? I could send it in two halves but it will all need to be out there by end of March.

 

[doris]

Some of the biggest brains in town backed by the best data and computers are trying to work out this one. Market says not much movement ie. a collective 'don't know'. Even if it goes to 1.17, a £ high for a very long time you are only talking £300. I would just get on with it and get on with life. The Greek problem is pennies to the German Tax payer and if it all gets put to bed then the ECB will look good and £ could easily drift back down to 1.10. Then again PIGS can do funny things.................

 

[Cerddinen]

There is only one answer to this question: if you could predict the change in the value of the pound to the euro, then your prediction would be wrong. Financial markets are unpredictable in a fundamental way.

Having said that, it sure does look like the euro will be falling for a while unless the current problems result in the ECB raising the euro interest rate.

 

[Tranona]

If we knew the answer to this then we would not be sitting here worrying about it! I am in a similar position, but not such a big sum - and should just do it. Last time I procrastinated over a similar sum to yours, the rate dropped from 1.45 to 1.33 in just over a week - very expensive!

 

[Gwylan]

There is some kind of conclusion here that wants to suggest that the pound is 'strong' With this mornings figures and worse to come - I'd send the money now!
Have strong vested interest in the pound rising against the Euro, but that should ensure the opposite

 

[haydude]

Here's one for all you financial experts.
I have to send a fair bit of cash to Spain about £15k. I'm being offered approx 1.15 Euros to the quid should I do it now or is the Euro about to nose dive? I could send it in two halves but it will all need to be out there by end of March.

The real issue is that the little 3 cents gain that the Pound had in the last month was because of weakeness in the Euro zone dragged down by Greece and NOT because of strength in the UK economy. I do not expect the rate to change significantly within the next three months at least.

Follow graphs and trends here:
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/13/three_month.stm

 

[Theshipscat]

Thank you Gentlemen and Doris.
Your views are much appreciated and I concur fully.
Adios