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an unconstructed man
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292 Posts
Discussion Starter · #1 ·
just a quick bit of advice if any one can help ,iam going to need a two grand in euros for the middle of may and im just wondering when is a good time to buy taking into account we have an election just around the corner if we end up with a hung parliment the strengh of the pound is going to fall ,or the other scenario would be a complete change of government and then im sure the pound would increase .If there is any body on here that is in a position to offer advice thanks in advance ,cheers rob
 

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For me it is the other way round. I need to pay £100,000 of material in the next 30 days. While the value of the pound is low this is good. I am betting that the pound will stay low until the election. If it is a hung parliament then the pound will weaken further. For me I can make or loose up to £8,000 depending on the rate.

I am betting the rate of £1 = €1.14 will stay roughly the same until the election. It may weaken against the dollar due to the Ash affect on the economy but as the eurozone is affected as well this shouldn't affect against the pound. Greece as yet to sort out the loan, that may chop off €0.01 €0.02. Hung parliament will be worse for you, much better for me.

If I were you I would less about the rate but find a place where the cost of exchange is cheaper. Post office - bank - ATM etch...
 

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Team HPDW - 10/90 for the Boys
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5,435 Posts
A bet on 100k is worth taking but the saving on a grand isn't going to be that big unless we find that the IMF pulls the pin on Greece as a lost cause then Italy declares bankruptcy.
Either of those events would help you out a lot but for a grand you're talking the retail market which is a massive spread over the spot rate that means you're getting caned whichever way you go.
The FX market is the perfect racket to be in really as people play in 000,000's and above which pretty much precludes any serious participation from normal folk.
Even if you get on a retail FX platform (like the Japanese Kimono Mummies do) you're still getting whatever spread the broker dictates over spot as well as a few seconds of latency just to doubly hamstring you

GBP/EUR chart in 1 week increments over the last 2 years or so
 

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an unconstructed man
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292 Posts
Discussion Starter · #7 ·
So what you are really asking is if anyone on here know who's going ot win the election
no .if i was asking who was going to win the election that is exactly the words i would have used (bloody obvious) thinking on if i can get a couple of grand changed over at 1.1 i think i should be happy at that. will do it this week and what i dont use next month im going to sit on for a while till next time im in euro zone cheers fellas
 
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