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Realistbear

Sterling And The Euro Going Bye Bye

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$ = Euros 1.41030

$ = £1.61093

All a bit annoying really as it came just a bit too late for our house purchase! Still have LT savings in $ which will be the safest place as the Soveriegn debt crisis unwinds in Europs and the UK starts to pay for Brown and Balls mess.

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http://www.bloomberg.com/news/2011-06-16/europe-s-lehman-moment-looms-as-greek-debt-unravels-markets-euro-credit.html

Europe Faces ‘Lehman Moment’ as Greece Unravels
By Mark Gilbert and Liz Capo McCormick - Jun 16, 2011 10:29 AM GMT+0100
The European Union’s failure to contain the Greek debt crisis is sending fresh shockwaves through currencies, money markets, equities and derivatives.
The euro lost more than 2 percent against the dollar in the past two days and the cost of protecting corporate bonds soared to the highest level since January, with credit-default swaps anticipating about a 78 percent chance that Greece won’t pay its debts. Equities declined around the world, while a measure of fear in fixed-income markets jumped the most since November.

Euros anyone? :o:o:o

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Off on holiday to tenerife next friday. Need the euro to fall a bit...

£ = Euro 1.14130

Euro is faring worse than £ vs. the $. I am orf to France in a week or so and would like to see the Euro collapse a bit more vs. the Pound.

Germany should be about to announce they will bail Greece out and Portugal, and Spain......................................

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1.41012

1.60988

Sterlig may breach the 1.60 mark vs $ today. Euro only just holding above 1.41.

Choo think? Euro/Sterling melt down this week?

Edit:

Euro just broke the melt down oscillator! (1.41 to the $)

1.40955

Edited by Realistbear

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$ = Euros 1.41030

$ = £1.61093

All a bit annoying really as it came just a bit too late for our house purchase! Still have LT savings in $ which will be the safest place as the Soveriegn debt crisis unwinds in Europs and the UK starts to pay for Brown and Balls mess.

Looks like you did right keeping some of those $ .

Gold going down as dollar goes up says Bloomberg.

http://www.bloomberg.com/news/2011-06-16/gold-snaps-two-day-advance-as-growth-concern-drives-selloff-in-commodities.html

Gold Falls as Stronger Dollar Erodes Demand for an Alternative Investment

Gold declined in London, snapping a two-day advance, after the dollar climbed, reducing the appeal of the precious metal as an alternative investment.

The euro fell for a second day, dropping to a three-week low against the dollar, after Dutch newspaper Het Financieele Dagblad cited European Central Bank Governing Council member Nout Wellink as saying the euro region’s emergency fund should be doubled. The currency was also dragged lower on concern a reshuffling of Greek Prime Minister George Papandreou’s Cabinet will lead to a renegotiation of aid terms.

“A stronger dollar is hurting gold, and we are also seeing some profit-taking,” VTB Capital analyst Andrey Kryuchenkov said by phone from London today. “Still, gold remains well- supported because there is too much uncertainty over the European sovereign debt crisis. Should risk aversion worsen from here, we’ll probably see gold rallying back to its May highs.”

Immediate-delivery gold fell $5.38, or 0.4 percent, to $1,525.50 an ounce by 12:15 p.m. in London. Gold for August delivery was little changed at $1,526.50 an ounce on the Comex in New York.

Gold has declined 3.2 percent since touching a record $1,577.57 on May 2. Still, it’s up 7.4 percent this year, as investors seek protection against sovereign-debt turmoil in Europe and accelerating inflation.

The U.S. Dollar Index, a six-currency gauge of the dollar’s strength, rose as much as 0.5 percent after yesterday rallying 1.7 percent, the most in 10 months.

Dollar Strength

“The strength of the dollar is a reason for today’s downward push,” said Bernard Dahdah, a London-based analyst at Natixis Commodity Markets Ltd.

Greece’s Papandreou will reshuffle his Cabinet today and seek a confidence vote, battling to control a shrinking majority and pass austerity measures demanded by international lenders. Papandreou sought to reassert his authority in a televised address last night hours after police used tear gas to break up protests in central Athens and media reported he was in talks to step down in favor of a unity government.

The political turmoil came as European Union talks on forging a new bailout to prevent the first euro-area default stalled. The European Central Bank said yesterday the threat of the Greek debt crisis spilling over into the banking sector is the biggest risk to financial stability.

Spot silver declined 0.9 percent to $35.485 an ounce, palladium lost 1.3 percent to $766.13 an ounce and platinum dropped 0.6 percent to $1,765.60 an ounce.

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Looks like you did right keeping some of those $ .

Gold going down as dollar goes up says Bloomberg.

http://www.bloomberg.com/news/2011-06-16/gold-snaps-two-day-advance-as-growth-concern-drives-selloff-in-commodities.html

Yeah but I had to sell a LOT of $ to buy our house! Got a stinking bad rate too 1.6135. :angry:

Timing coudn't be helped as we need a roof over t' head and renting is awful round here.

Soros looks like he made a good call dumping gold a week or so ago. Sell off is only moderate though--its when we see triple figure drops that we know 1980 is back.

Have to be careful and not mentionm gopld too much or this thread will be off to the forum where few lurck.

Edited by Realistbear

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Rather unfortunate we are tarred with the same negative brush. Sterling always tanks along with the Euro. Doesn't fully rise with it though, but it always tanks with it.

Best to leave these shit currencies well alone and put your wealth in Gold.

The US Dollar is the biggest joke of them all...

401250_f520.jpg

US Dollar Purchasing Power

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Yeah but I had to sell a LOT of $ to buy our house! Got a stinking bad rate too 1.6135. :angry:

Well you could have sold at 1.35 but you didn't.

If you leave stuff to the very last minute then you get whatever the market rate is, like it or lump it.

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I think that the euro is on the way out. I doubt we've seen the last of the euro bailouts.

The dollar is still a better mid term bet.

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Well you could have sold at 1.35 but you didn't.

If you leave stuff to the very last minute then you get whatever the market rate is, like it or lump it.

It hit 1.37 momentarily but the best time to have gone for it was when it was when it was in the low 1.40's. Howver, I was not sure about staying in this country then so whatcha going to do? I got out of Sterling for $ quite a few years back when it was comfortably above $2.00 so I guess I made about 20% overall. I am still about 30% in US $ so have a little hedge going.

I think Soros and Buffett are on the same page regarding "other things" as a commodities bust is long overdue and it will take everything down with it and thats when deflation cometh like a storm from the bowells of hell itself.

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Yeah but I had to sell a LOT of $ to buy our house! Got a stinking bad rate too 1.6135. :angry:

That is the problem, timing is the hardest thing to get right as far as currencies and house buying is concerned.

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$ = Euros 1.41030

$ = £1.61093

All a bit annoying really as it came just a bit too late for our house purchase! Still have LT savings in $ which will be the safest place as the Soveriegn debt crisis unwinds in Europs and the UK starts to pay for Brown and Balls mess.

Vindicated at last RB.

We will have to stop calling you a contra-indicator, damn!

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Vindicated at last RB.

We will have to stop calling you a contra-indicator, damn!

Yeah, right. Every time the dollar twitches up against the euro, RB starts a Eurozone doom thread. And then goes all quiet when the dollar drops again.

Some of us remember when a euro was worth less than a dollar.

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So the £ is much stronger than it has been on numerous other occasions against these 2 currencies in the past couple of years.

It goes up - it goes down. Shockerooney. :D

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Yeah, right. Every time the dollar twitches up against the euro, RB starts a Eurozone doom thread. And then goes all quiet when the dollar drops again.

Some of us remember when a euro was worth less than a dollar.

Most of us were not around when the £ was worth $4.

The press is full of Eurogloom today and the Euro has dropped from 1.46 to 1.40 quite rapidly. Sharpest decline ever recorded?

There is some big shaking events coming down the pike and what many thought would happen won't or will, but with a vengeance. The after shocks of the big bust will prove to be bigger than the intitial shock IMO.

The latest as Euro breaks 1.41 and heads for 1.39--perhaps by the close?

1.40890

1.60900

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The euro folding will herd everyone into dollars, which will then collapse.

Fun stuff.

* "Here!" said the Master. "Build me a great tomb in this place." His apprentices did. It glittered in the sun. "Now go inside," said he. They entered. An earthquake then destroyed the tomb, burying those within. The Master smiled. "Even the faithful are not always chosen. This is called sacrifice."

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I think Soros and Buffett are on the same page regarding "other things" as a commodities bust is long overdue and it will take everything down with it and thats when deflation cometh like a storm from the bowells of hell itself.

Is that before or after hyperinflation? ;)

Merv will take your deflation bet and raise you another £200bn, with Osborne backing him all the way.

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$ = Euros 1.41030

$ = £1.61093

All a bit annoying really as it came just a bit too late for our house purchase! Still have LT savings in $ which will be the safest place as the Soveriegn debt crisis unwinds in Europs and the UK starts to pay for Brown and Balls mess.

Gold will go up as these currencies crash then.

Oh wait you also predicted gold will collapse in value also , it's all part of the new paradigm only you have knowledge of eh RB? :lol:

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Gold will go up as these currencies crash then.

Oh wait you also predicted gold will collapse in value also , it's all part of the new paradigm only you have knowledge of eh RB? :lol:

Me and my mate George "Da Man" Soros. :lol:

Strange as it may seem, but in about 1992 when moving from the UK to the US I decided to switch my sterling into $ about a week or so before George pulled the plug on the pound. As they say in the trade: fortiutous.

I am getting the feeling some people are starting to get nervous and not a little flatulent as things start to shift to their inevtiable, but largely unforeseen, set of consequences. When bubbles deflate things tend to deflate.

Edit: Might be yet another wet jumping jack day as Pound and Euro recover:

1.41301

1.61139

Edited by Realistbear

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Most of us were not around when the £ was worth $4.

The press is full of Eurogloom today and the Euro has dropped from 1.46 to 1.40 quite rapidly. Sharpest decline ever recorded?

There is some big shaking events coming down the pike and what many thought would happen won't or will, but with a vengeance. The after shocks of the big bust will prove to be bigger than the intitial shock IMO.

The latest as Euro breaks 1.41 and heads for 1.39--perhaps by the close?

1.40890

1.60900

The euro was worth $1.23 a year ago and has climbed fairly steadily since then. You make far too big a deal of these day-to-day fluctuations. Look at the trend.

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i think some perspective is needed here.

the last time sterling and the euro were at these levels were.... erm... may 23rd, a whole 3 or so weeks ago.

markets go up and down. theyre expected to go up and down.

i mean if you compare the rates from the beggining of march the euro is up. its up vs 2-3 months ago and is down vs 1 month ago.

it is currently at "may" prices, what the big deal..

Edited by mfp123

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  • 239 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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