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euro at 90p thread

forest

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Is it time to quit the euro at 80p thread that was so last april
Its at 90p so how long before 1:1
 


st333ve

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I'd say about a two or three months the way things are going.

Should be good for those near the border, although i heard people from Cork when shopping in Belfast last night.
I was surprised how empty it was compared to last year when i went up, and i wasnt impressed with that Victoria square its too cold ,too expensive and its very poorly laid out.
It takes about 3 times the lenth of time to walk around it as everything is across bridges and on different floors, you cant just walk from the start to the finish.
 

ArtyQueing

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I'd say about a two or three months the way things are going.

Should be good for those near the border, although i heard people from Cork when shopping in Belfast last night.
I was surprised how empty it was compared to last year when i went up, and i wasnt impressed with that Victoria square its too cold ,too expensive and its very poorly laid out.
It takes about 3 times the lenth of time to walk around it as everything is across bridges and on different floors, you cant just walk from the start to the finish.
Did you pay for the parking below it? After that you can only afford the charity shops.
 

KungFugazi

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How long before the UK adopts the Euro?. Before the end of 09?. Mandy has got a hard on for the Euro.
 

Pauli

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€ At 90p. Where is it going to go? I think the trend upwards will continue for the € given the interest rate differential and the mutterings of the German Finance Minister. The technicals also point to a short term move up for the €. Room to go to 94p but will retrace some of the major move. A lot depends on the way the dollar behaves right now since "Anglo-Saxon" currencies tend to trend in a block over time. And the main action is in the dollar. € v $ at 1.3350 having gone above 1.34. Expect the move up again next week towards 1.40 before technicals point to the dollar being oversold. 4 of the main technical indicators still point to € strength, however, so £0.94 and $1.38 definitely within reach next week.
 

draiocht23

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Is it time to quit the euro at 80p thread that was so last april
Its at 90p so how long before 1:1
Well it's happened, according the Observer, and the pound is now worth €.918

Who would have thought it would happen so fast?

Pound slips below euro on Britain's high streets | Business | The Observer

The government is facing a growing backlash over its rescue package for the economy after the pound slumped to below parity with the euro on British high streets and at airports for the first time since the single European currency was launched a decade ago.


Sterling's decline to a value of less than a euro, after commission charges, is seen by economists and opposition politicians as a pivotal 'psychological moment' - and evidence of declining faith in the British economy on global currency markets.


Last night, as skiing operators and other holiday companies across the UK reported customers shunning expensive trips in favour of cut-price deals, Currency Exchange on London's Oxford Street was selling euros for as little as €1.0532 to the pound. After commission and a handling fee, however, €18 cost The Observer £19.61, an exchange rate of €0.918 to the pound.

Tories and Liberal Democrats laid the blame for the pound's collapse firmly at the door of Gordon Brown. Philip Hammond, shadow Chief Secretary to the Treasury, said the Prime Minister's decision in the pre-Budget report to let borrowing soar to fund £20bn of tax cuts had severely damaged - rather than boosted - economic confidence and people's willingness to spend.
 
Last edited:

Pauli

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The rate for the £ right now is 0.8938. COmposite trend indicators show the € is still bullish and the OB/OS index as neutral. So still room for the € to move up but the upwards move showing signs of tiring.
Techs: RSI is neutral, Stochastic 13,3,3 is neutral, MACD (25,9) is still "Buy" and volatility in the cross is dropping. No candlestick pattern. Supports at (1st) 0.8863, (2nd) at 0.8780 and (3rd) at 0.8713. If it goes below 0.8713, then expect a retracement back to 0.8450. Resistance (1st) seen at 0.9013, (2nd) at 0.9080 and (3rd) at 0.9162.

Good luck if you are trading this.
 

factual

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WIthout saying we told you so, Sinn Féin was the only significant party that argued against joining the Euro.
 

goosebump

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WIthout saying we told you so, Sinn Féin was the only significant party that argued against joining the Euro.
Except that you keep saying this all the time, and that it has nothing to do with the current value of the respective currencies.

If we still had the Punt, and it still existed after 10 years of currency speculation, it would be equivalent in value to the Pound, given that SF's economic policy basically amounts to us being a Client State of the United Kingdom.
 

draiocht23

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WIthout saying we told you so, Sinn Féin was the only significant party that argued against joining the Euro.
Where do you think we'd be if we still had the Punt? Instead of bailing our banks out, the IMF would be bailing us out a la Iceland.
 

Pauli

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WIthout saying we told you so, Sinn Féin was the only significant party that argued against joining the Euro.
What does Sinn Fein have against the Euro? It's just a currency. There are advantages to being part of it. Without it we would be in a worse position than Iceland right now, imo.
 

goosebump

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What does Sinn Fein have against the Euro? It's just a currency. There are advantages to being part of it. Without it we would be in a worse position than Iceland right now, imo.
SF has a problem with anything that they perceive to be a threat to Irish nationalism, particularly meaningless symbols like poppies, flags and currencies.
 

draiocht23

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SF has a problem with anything that they perceive to be a threat to Irish nationalism, particularly meaningless symbols like poppies, flags and currencies.
Maybe SF will be pleased that even more shoppers will now take a 32 county view of their Christmas shopping, and beat a hasty path to the North - with the Euro now stronger than Sterling, and the VAT difference it's looking increasingly attractive.
 

TradCat

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The funny thing is that in Iceland where they are looking at the euro as a way out of their (self-inflicted) problems people against the idea are warning about ending up like Ireland.

They lived off fish but got sucked into reckless banking which failed. How is giving away their fish going to be the solution?
 

Pauli

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The funny thing is that in Iceland where they are looking at the euro as a way out of their (self-inflicted) problems people against the idea are warning about ending up like Ireland.

They lived off fish but got sucked into reckless banking which failed. How is giving away their fish going to be the solution?
The Euro is not the cause of our economic problems. It's a currency. Failure to invest properly in domestic industry, failure to develop a sustainable economic model, over-relaince of FDI, allowing a dangerous property bubble to develop and political incompetence were the ingredients of the downfall of the Celtic Tiger.

Iceland should learn from that.
 

Big Bobo

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Ironically enough the people who are most pro-euro are the first to whine about our lack of international competitiveness.
 

TradCat

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Pauli

I wouldn't blame the euro. It gave us interest rates that were far too low but we were the ones that assumed that was a signal to borrow like there was no tomorrow.

Maybe that was human nature or maybe it was just us. But the Celtic Tiger was born when we broke with Sterling and became a bloated fat-cat when we joined the euro.
 

Pauli

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Pauli

I wouldn't blame the euro. It gave us interest rates that were far too low but we were the ones that assumed that was a signal to borrow like there was no tomorrow.

Maybe that was human nature or maybe it was just us. But the Celtic Tiger was born when we broke with Sterling and became a bloated fat-cat when we joined the euro.
We were at the opposite end of an economic cycle to Germany anf France. THe ECB sets interest rates with these countries primarily in mind, since our population is slightly bigger than that of Berlin, and we got interest rates which were not suited to our domestic economic circumstances. This was compounded by the recklessness of the banks and the economic illiteracy of our politicians.
 

draiocht23

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Accouing to the BBC, the pound is today worth less than the Euro at commercial rates:

BBC NEWS | Business | Pound 'buying less than a Euro'
Yeah, I've been eschewing Brian Lenihan's patriotism advice and have been shopping online for the past hour. Forget driving to Newry, and battling through thronged shops...traverse the web instead.

Sales on loads of websites, and free shipping offered on quite a few as well.
 


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