Sterling / Euro exchange Rate

Posted by: Sloop John B on 30 December 2008

I'm amazed that we are nearly at parity between sterling and the euro. It's nearly the equivalent of IR£1.20 to £1.00, which previously I would have only envisaged after a heady cocktail of Poitin and Guinness.


In the overall sense this is a BAD thing for the Irish economy as we are mainly an export economy with the UK still being our major export market.

As I am likely in the future to want to purchase some UK made items (mainly some Naim pieces) I'm interested to know what the opinion is on sterlings(apostrophe alert!) sterling's future exchange rate.

Is it likely to fall some more or shall we see a rally?


SJB
Posted on: 30 December 2008 by winkyincanada
If I knew the answer to that, I wouldn't have to work for a living Smile.
Posted on: 31 December 2008 by 555
IMO short term sterling will to continue to weaken.
Posted on: 31 December 2008 by winkyincanada
Make the bet! Short the sterling! Retire!
Posted on: 01 January 2009 by u5227470736789439
Soros did this when we crashed out of the ERM.

The UK economy is very different from any of our European neighbours' systems, and is far more liable to fluctuations based on the financial sector, as the money markets, based in London, are such a large part of wealth generation for us.

This leaves us especially at risk if the fininancial markets catch a cold.

ATB from George
Posted on: 01 January 2009 by gary1 (US)
quote:
Originally posted by GFFJ:
Soros did this when we crashed out of the ERM.

The UK economy is very different from any of our European neighbours' systems, and is far more liable to fluctuations based on the financial sector, as the money markets, based in London, are such a large part of wealth generation for us.

This leaves us especially at risk if the fininancial markets catch a cold.

ATB from George


If???
Posted on: 01 January 2009 by u5227470736789439
Dear Gary,

That was a typical example of the English understatement!

Best wishes for the New Year from George
Posted on: 01 January 2009 by gary1 (US)
George,

Sorry I forgot, the English understate their case and we Americans overstate them. I'll remember going forward.

Happy New Year to you as well

Gary
Posted on: 01 January 2009 by 555