Not too much to worry about on today’s rates as you say, although I did see a digger on the site yesterday. It’s gone now and doesn’t appear to have actually done anything but still…..roll on 2009, or 10
The Bank of England has just reduced rates by 0.25%, and the pound is now trading against the euro @1.39. For months now it been trading between 1.43-1.45.
Which now means for the early investors,cricketers,golfers etc,who are due to pay the next 20% stage payment, its going to cost a couple of grand more @1.39.
Of course for the first 20% stage payments rates were between 1.45-1.50, so effectively the overseas equity is valued higher @1.39, so what you lose on the swings,you gain on the roundabout.
I did not forward buy the Euro,because of the overseas equity, however if any investors etc,did forward buy the Euro,they would have saved themselves a few grand. Of course rates fluctuate by the second so by the time constuction has started(+1 month), rates will have changed.
Just noticed that at the minute the £ is trading againt the € @1.32,thats a 5% reduction from the 1.39,and a 10% reduction from 1.45 “Ouch”.woodfoldMember
At least we have 2 years for the rate to improve before we need to pay the 60% instalment – Fingers crossed
The Pound is now trading against the Euro @ 1.29…surely it cannot get much worse…or can it?
€1.25 potential bottom as UK cuts interest rates soon, and before the Eurozone who will do so 6 months on as the recession takes hold
Sunny Sussex goes south
Hi gang:- Just noticed that the pound has now dropped to 1.25 EUROS.
Looking at the posts on this thread its been:-
Wheres it going next?
the way it’s in freefall even money ? [8D]hackerMember
Hi Optiontrader 6 months ago i searched the net for currency predictions by financial company.They predicted that it could fall as low as 1.22 this year.I was anxious to make my next payment i got 1.32 at the time.(Can not remember the site now)
AAAAAAAAAAAAAAAAAAAAAAAARRRRRRRRRRRRRRRRRRRRRRRRRRGGGGGGGGGGGGGGGGGGGHHHHHHHHHHHHHHHHHHH. This is starting to nip a bit !!
todays fall was in anticipation of more rate cuts, after the Halifax said house prices fell 2.5% last month
Sunny Sussex goes south
pound to euro today 1.247 its still dropping when is it going to stop ? [8D]thecrockMember
when interest rates start to go up
Hi All:- The pound is now starting to recover against the euro its now edged up to 1.30,maybe by deeds we can get it back to 1.50.
Hope so, but you are the eternal optimist judging by your expectations for the Cape Verde football team !! Take it easy.
Hi hammersteve: We would have had more of a chance if “Nani” had not plumped for Portugal instead of Cape Verde his country of birth.
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