Paphos Life

As predicted by some City of London financial gurus the GBP is slowly gaining strength against the Euro (€) following the
triggering of Article 50 by the UK yesterday.
Midday Cyprus time the exchange rate was £1 = €1.15699
This is a gain of about 2%.
Let us hope it continues its climb!
Geoff.

So when will it be 1.40 like you said 6 months ago?

geoffreys wrote: ↑Thu Mar 30, 2017 12:26 pm Midday Cyprus time the exchange rate was £1 = €1.15699
This is a gain of about 2%.

Where do you get that 2% from? The rate has been around 1.15 for a few days now. It hasn't been as low as 1.1343 for quite some time.

Dominic wrote: ↑Thu Mar 30, 2017 1:12 pm

geoffreys wrote: ↑Thu Mar 30, 2017 12:26 pm Midday Cyprus time the exchange rate was £1 = €1.15699
This is a gain of about 2%.

Where do you get that 2% from? The rate has been around 1.15 for a few days now. It hasn't been as low as 1.1343 for quite some time.

That is based on the XE.com published rates. Be thankful it is not going down! Hopefully it will slowly edge up over the coming few months, 1.40 not impossible.
Geoff.

So where does the 2% figure come from?

Dominic wrote: ↑Thu Mar 30, 2017 1:49 pm So where does the 2% figure come from?

Your have to speak louder.. his a bit mutt n Geoff

Dominic wrote: ↑Thu Mar 30, 2017 1:49 pm So where does the 2% figure come from?

I have already answered you Dominic.
Currently 1.15669, few days ago (Pre Article 50) it was 1.13380
That as on XE.com
Up 2%.
Don't you want it to carry on going up?

Geoff.

More like the North Face of the Eiger this time, Happy- can you just stretch that y axis a little bit more?!!

The last time it was 1.14 was on March 10th. Since then, on March 23rd, it has already hit 1.16, so you cannot say that the rise to 1.15699 is a 2% rise on the strength of article 50.

Source: http://uk.reuters.com/business/currenci ... stCurr=EUR

Dominic wrote: ↑Thu Mar 30, 2017 2:54 pm The last time it was 1.14 was on March 10th. Since then, on March 23rd, it has already hit 1.16, so you cannot say that the rise to 1.15699 is a 2% rise on the strength of article 50.

Source: http://uk.reuters.com/business/currenci ... stCurr=EUR

That can't be true, Lynsab told us it was £1 = €1.14...

Lynsab wrote: ↑Wed Mar 29, 2017 7:33 am I see the pound has dropped to 1.14 today since the PM signed article 50.

It's been around 1;16 as an interbank rate (and revolut) for weeks..... NO effect so far from article 50...

Willing something to happen, won't make it real....

It was most definitely 1.14 on the morning the PM signed article 50 to be triggered...I check every morning...I'm selling a house in Cyprus in euros ..what it was by night time I have no idea...

I check mornings only....it usually goes up or down in the day, at least on the UK charts...

Lynsab wrote: ↑Thu Mar 30, 2017 4:28 pm It was most definitely 1.14 on the morning the PM signed article 50 to be triggered...I check every morning...I'm selling a house in Cyprus in euros ..what it was by night time I have no idea...

I check mornings only....it usually goes up or down in the day, at least on the UK charts...

I thought the prophet of doom would be having her say.
1.14 to 1.15699 is still 1.5%
Last Friday before Article 50 it was 1.13 something, so 2% since then
Say what you like, the trend is up.
I ask you Lyn the same question I asked Dominic, do you want the pound to strengthen, or for it to weaken?
If your answer is "weaken", then why?
Let me guess, you don't want UK to leave the EU, 2nd referendum, etc etc......YAWN. Sick bag please nurse..NURSE!!!
Geoff.
P.S. Properties in Vrysoulles and Frenaros are selling to Brits like hot cakes!

I want sterling to strengthen for sure. But to say it has risen significantly because of Article 50 just isn't accurate.

Lynsab wrote: ↑Thu Mar 30, 2017 4:28 pm It was most definitely 1.14 on the morning the PM signed article 50 to be triggered...I check every morning...I'm selling a house in Cyprus in euros ..what it was by night time I have no idea...

I check mornings only....it usually goes up or down in the day, at least on the UK charts...

It wasn't £1 = €1.14000 of course...

It was around £1 = €1.1475

But I suppose the following wouldn't have appeared anywhere near as dramatic...?

Lynsab wrote: I see the pound has dropped by €0.005 today since the PM signed article 50.

Long way to go yet, but we will get there. Where 'there' is I am not sure but, as far as what has happened so far regarding exchange rates it is all as I expected and had already planned for pre-referendum.

Geoff will be pleased, now at 1.1650, only needs to gain another 22.5 cents to get to Geoffs target!!!

Dear! Dear! Sterling has not been adversely affected by Article 50 being triggered. That's a good thing which we should all celebrate. I note that Lloyd had been saying up to now that it would drop once Brexit started. Now he's pushed it back to "when to negotiations start in earnest. Next it'll be when the negotiations are over etc etc etc...

Lynn will not be pleased as she is selling her house in Cyprus so one would assume she would want the lowest rate possible. We were very lucky and got most of our money out when it was about 1.12