Paphos Life

So at the moment the rate from Pound to Euro is 1.15
What do you believe it will be tomorrow?
I reckon that should the tories win then the pound will increase to 1.18 immediately with the prospect of a strong and stable Government and should ,heaven forbid, Labour get in then the rate will fall drastically to 1.10.

Nonsense. The current rate already factors in a Tory win. A Labour win will cause an initial 1-2-day loss of <2.5 p but will rebound back up to a higher level because their fiscal strategy is known, while the Tories have no real fiscal strategy and a nonentity of a Chancellor.

Termites Dream wrote: ↑Thu Jun 08, 2017 3:04 pm Poppy....Labour Coalition with SNP/LIBS/N Irish MP's and one Green could be worse.

Could not agree more.

Rita

I don't think a Tory win has been entirely factored in to the exchange rate so yes, a return to ~1.18 could be possible depending on the size of the majority.

cyprusgrump wrote: ↑Thu Jun 08, 2017 3:23 pm I don't think a Tory win has been entirely factored in to the exchange rate so yes, a return to ~1.18 could be possible depending on the size of the majority.

I agree. Currently there is uncertainty. Whatever happens after the election, there will be less uncertainty.

The pound will rise tomorrow - whichever side wins outright. If (in the unlikely event) there is a hung Parliament, it will fall until the coalitions are known.

Well it is a hung parliament , now we shall have to wait and see on currency .

At around 0700 this morning I transferred £2.5k to our Cyprus account through CurrencyFair. Usually, I get 2 emails almost immediately - the first to acknowledge the transaction and the second to inform that it was complete and the actual rate given.

This morning, the first email took longer to arrive by about 10 mins. I'm still waiting on the second...

Transaction complete - £1 = €1.1314

Today of all days you chose to move money.... Do you have a death wish or are you just a glutton for punishment?

PhotoLady wrote: ↑Fri Jun 09, 2017 9:48 am Today of all days you chose to move money.... Do you have a death wish or are you just a glutton for punishment?

I was convinced that there would be a Tory majority and that the rate would increase today, so I have hung on for the last week or so. Yesterday I toyed with the idea that there may be a hung Parliament and considered an exchange then, but then dismissed the thought. Sometimes, the nettle has to be grasped anyway...

Ouch!


Shane