singlegrandma2 Posted June 24, 2016 #1 Share Posted June 24, 2016 With the vote in England, do you think this will affect usd/euro? Wondering if I should go buy Euros now? Link to comment Share on other sites More sharing options...
Jack Staff Posted June 24, 2016 #2 Share Posted June 24, 2016 £1 is now 1.24 Euro so it has already fallen following the outcome of the referendum (it has recovered a little from this mornings low of 1.0911). Sterling saw record-breaking losses as the UK opted for Brexit. £1= $1.37. What will happen with the £ remains to be seen. Link to comment Share on other sites More sharing options...
xlxo Posted June 24, 2016 #3 Share Posted June 24, 2016 https://ca.finance.yahoo.com/q/bc?s=USDgbp=X&t=5d Link to comment Share on other sites More sharing options...
DebbieMacG Posted June 24, 2016 #4 Share Posted June 24, 2016 (edited) With the vote in England, do you think this will affect usd/euro? Wondering if I should go buy Euros now? The vote was in the United Kingdom, not just England (Wales, Scotland, Northern Ireland, Gibraltar as well) Edited June 24, 2016 by DebbieMacG Link to comment Share on other sites More sharing options...
snowmc Posted June 24, 2016 #5 Share Posted June 24, 2016 The currencies will rebound back to where they were last week soon. It's best to just wait to you are there and use the ATM. If you buy currency now, from home, you will pay an uncharge to the company you are purchasing it from. Example....I checked this morning on the British pound. Trading at $1.36 If I purchased £s to take with me, the exchange rate was $1.43....difference of ¢7...if you purchase £200, that's $14 Not worth it. I will just wait till we are there in 2 weeks and use the ATM....my bank does not charge me ATM fees and refunds any that are charged from the other bank. You can also use credit cards for almost everything and you will receive the current exchange rate. Many credit cards are not charging foreign exchange charges now....check with you company. Link to comment Share on other sites More sharing options...
Husky61 Posted June 24, 2016 #6 Share Posted June 24, 2016 With the vote in England, do you think this will affect usd/euro? Wondering if I should go buy Euros now? You might consider asking a financial expert about this. Link to comment Share on other sites More sharing options...
mickey89 Posted June 24, 2016 #7 Share Posted June 24, 2016 Better to buy a Crystal Ball, I bought one last week to be safe ! Link to comment Share on other sites More sharing options...
singlegrandma2 Posted June 24, 2016 Author #8 Share Posted June 24, 2016 Thanks for your advice. I agree, like rolling dice. And truthfully a few cents per dollar really isn't enough money to worry about.:) Link to comment Share on other sites More sharing options...
CruiserBruce Posted June 24, 2016 #9 Share Posted June 24, 2016 Better to buy a Crystal Ball, I bought one last week to be safe ! You should buy one this week- last week's is so out of date!!!:D;) Link to comment Share on other sites More sharing options...
paul929207 Posted June 24, 2016 #10 Share Posted June 24, 2016 Sure the Brexit vote will affect the $ vs. Euro rate. But it is only a guess which will do better Link to comment Share on other sites More sharing options...
Mim Lloyd Posted June 24, 2016 #11 Share Posted June 24, 2016 If you're American wanting to buy £ with your $, I'd buy now. Rates have plummeted against the £ today but will almost certainly rise up again when the shock and uncertainty of the out vote settles. Nothing is certain though of course. I've been watching the rates over the last couple of weeks. They slowly rose leading up to the vote so on Tuesday I bought a lot of $ and € to put away for future holidays. I got £1 = $1.48 which was good for me in the UK spending my sterling, this morning it was $1.34 which is good for Americans spending their dollars. Link to comment Share on other sites More sharing options...
loubetti Posted June 24, 2016 #12 Share Posted June 24, 2016 Just remember though that the pound reached $1.04 in 1984. I was in London then, staying at the Savoy in a deluxe room for only $150 a night! Yes, in 1985 it went back to around the level it is at today. The £ is a relative bargain right now, but it could go lower. Link to comment Share on other sites More sharing options...
calliopecruiser Posted June 25, 2016 #13 Share Posted June 25, 2016 With the vote in England, do you think this will affect usd/euro? Wondering if I should go buy Euros now? Yes! it's way too big not to affect the US$:Euro. Oh......I bet you wanted to know HOW it would affect them. Oh, well, that's a different question. There will be lots of opinions and hopes, but no one really knows. Link to comment Share on other sites More sharing options...
paul929207 Posted June 25, 2016 #14 Share Posted June 25, 2016 No offense, but I don't think CC the place to get investment advice Link to comment Share on other sites More sharing options...
SadieN Posted June 25, 2016 #15 Share Posted June 25, 2016 (edited) Over the past year the Euro has been fluctuating between $1.09-$1.14. Right now it's about $1.12. xe.com This is the rate before you bank adds any fees and percentage to the exchange rate. Sent from my iPhone using Forums mobile app Edited June 25, 2016 by SadieN Link to comment Share on other sites More sharing options...
Rare Keith1010 Posted June 25, 2016 #16 Share Posted June 25, 2016 Time will tell. Anyone's guess. Keith Link to comment Share on other sites More sharing options...
Go-Bucks! Posted June 26, 2016 #17 Share Posted June 26, 2016 No offense, but I don't think CC the place to get investment advice The OP's question wasn't about getting investment advice, nor were they given investment advice. They just asked whether Brexit will affect the USD/Euro exchange rates and whether they should purchase euros now. This is very much a CC issue as cruising to different countries necessitates using foreign currencies. And it's on the minds of many of us who will be traveling over to Europe soon. I bought my euros and pounds yesterday since the price went down - I'm happy! :p Link to comment Share on other sites More sharing options...
Rare Hlitner Posted June 26, 2016 #18 Share Posted June 26, 2016 (edited) A very good question. Consider that the Euro has taken a beating in the past year and is now very low (against the dollar). If the financial markets and speculators (which have a lot to do with currency values) detect further weakness in the Euro (and the countries that underwrite the currency) one might suspect a further weakening in the Euro (perhaps taking it down to 1:1 against the dollar). And there is also the issue of the major investors/banks of the world putting their resources into a safe currency (or alternatives such as Gold) because of uncertainty. This normally would mean money pouring into the US Dollar (always considered a safe haven) but now we also have the political uncertainty in the USA. So some might call this a real mess with no historical parallel. Personally, at this point, it is hard to imagine a near term situation where the Euro will strengthen. So now I have written an economic analysis which is as worthless as just about every other analysis :). But personally, we would not be putting our own money into Euros. Hank Edited June 26, 2016 by Hlitner Link to comment Share on other sites More sharing options...
Rare Keith1010 Posted June 26, 2016 #19 Share Posted June 26, 2016 And if the USA economy goes into a recession then who knows. If we had a crystal ball we would know it all. I still think back to the experts a few years ago predicting gasoline would be something like $10.00 a gallon by now. Keith Link to comment Share on other sites More sharing options...
calliopecruiser Posted June 26, 2016 #20 Share Posted June 26, 2016 But personally, we would not be putting our own money into Euros. Hank I agree - I wouldn't buy them as an investment, but if I would be spending them in the next year, it wouldn't hurt to buy them now. Link to comment Share on other sites More sharing options...
Husky61 Posted June 26, 2016 #21 Share Posted June 26, 2016 No offense, but I don't think CC the place to get investment advice Totally agree. Link to comment Share on other sites More sharing options...
navybankerteacher Posted June 26, 2016 #22 Share Posted June 26, 2016 (edited) Speculators make money if they bet correctly on future currency values - they lose money if they bet wrong. There are so many variables that can be read to mean different directions for every currency vs. the $. Just because the euro and GBP have dropped in recent days, there is no reason to think that one, or both, is poised to rebound --- or to believe that the slide has stopped. Currency arbitrage makes no more sense to a layman today than it did a year ago - or will next year. If you think you are smarter than the arbs, go for it in a big way. The one certainty that will cost you is that paying unfavorable exchange rates (like buying euros in the US) is less intelligent than paying the closest to flat market rates AT THE TIME YOU WILL NEED euros by buying them when you need them at ATM's when in Europe at the fairest rates. Edited June 26, 2016 by navybankerteacher Link to comment Share on other sites More sharing options...
Mim Lloyd Posted June 26, 2016 #23 Share Posted June 26, 2016 dI still think back to the experts a few years ago predicting gasoline would be something like $10.00 a gallon by now. Keith Here in the UK we buy our petrol by the litre which equates at the moment to about $6.60 per gallon. And that's a good price! Link to comment Share on other sites More sharing options...
dsrdsrdsr Posted June 26, 2016 #24 Share Posted June 26, 2016 Here in the UK we buy our petrol by the litre which equates at the moment to about $6.60 per gallon. And that's a good price! About $5.75 for a US gallon. Their gallons are smaller than ours. Link to comment Share on other sites More sharing options...
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